Wave and Tidal Energy Market Sales Channel Analysis, Global Demand & Future Trend, 2025

Felton, Calif., USA, Jan. 13, 2021 — /EPR Network/ —

The global Wave and Tidal Energy Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

Global Wave and Tidal Energy Market is expected to reach USD 3.9 billion by 2025 with CAGR of 42.5% in the upcoming period as the scope, product types and its applications are increasing across the globe. Wave energy implies to the energy of the ocean surface waves, which is captured for desalination, the pumping of water into reservoirs and electricity generation.

Key Players:

  • Atlantis Resources Corp.
  • AW-Energy
  • AWS Ocean Energy
  • Andritz Hydro Hammerfest
  • BioPower Systems
  • Kepler Energy Limited
  • Minesto
  • Ocean Power Technologies
  • Pelamis Wave Power Limited
  • Seabased AB
  • Tidal Power Limited

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Growth Drivers:

As such, connecting tidal and wave energy from the ocean surfaces is the most supportive source of energy. Economies across the globe are inclined toward usage of these forms of renewable energy as these offer a continuous and stable source of clean energy. Abundance of ocean surface and energy generation volume in numerous countries has helped governments to follow ocean energy generation as a significant source of renewable energy in years to come.

Moreover, the wave and tidal energy is witnessing maximum demand due to rise in development of the initiatives across countries, which results in reduction of price with respect to electricity. Furthermore, increase in funds and new rules by local governments helps the skill inventors for fast commercialization of their energy converters. On the other hand, the factors such as environmental and socio-economic barriers and high cost are expected to hamper the growth of the market over the forthcoming period.

Type Outlook:

  • Wave
  • Tidal

The “Tidal Power Plants” of Wave and Tidal Energy is the dominant type of the market in 2016, The conversion of kinetic energy into electricity is mainly done with the help of “Tidal Stream”. As compared to Wave Power plants, the Tidal Power Plants may have higher R&D investments.

Technology Outlook:

  • Pendulor Device
  • Tidal Stream Generator
  • Barrage
  • Oscillating Water Columns
  • Others (Lagoon and Turbine)

Regional Outlook:

Asia-Pacific has been at the forefront with regards to wave and tidal energy industry and will continue to rule the roost in the years to come. The Asia Pacific accounted for the major share of 39% of the global volume in 2016. The region is estimated to continue to be the foremost user over the forthcoming period due to increase in the environmental rules, public funding programs, competition, and government policies are expected to facilitate the growth of market in this region.

Asia-Pacific is looked upon as the most attractive and major market for Wave and Tidal Energy all over the world. Significant development of the accessibility of incomes, awareness amongst the population, economy, and growth in open test places are estimated to drive the market throughout the upcoming period. Asia-Pacific is followed by the North America.

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