Global Wave And Tidal Energy Market : Global Industry Analysis And Forecast (2018-2026)

By Author: Amruta Shinde
Total Articles: 7
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Global wave and tidal energy market was valued US$ 540.23 Mn in 2017 and is expected to reach US$ 12234 Mn by 2026, at a CAGR of 47.86% during a forecast period.

The global wave and tidal energy market based on type, technology, end-user, and region. In terms of type, the global wave and tidal energy market are classified into wave power plants and tidal power plants. Based on technology, the global wave, and tidal energy market is segregated into the tidal steam generator, pendulor device, oscillating water columns, barrage and others. On the basis of end-user, the global wave and tidal energy market are categorized into residential, commercial and industrial. Region wise into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

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The global wave and tidal energy market witnesses highest demand owing to rise in an expansion of the projects across countries, which results in massive electricity cost reduction. Moreover, an increase in investments and new ...
... policies by local governments promotes the technology developers for rapid commercialization of their energy converter devices. The technology development is still in the development phase for both energy forms. Together with the increase in stringent environmental protection regulations across the globe, is compelling the power generation industry to switch to cleaner and environment-friendly energy resources. This is anticipated to emerge as the key driver of the global wave and tidal energy market in future.

In terms of type, tidal energy is anticipated to lead the market through 2026. The assortment of technologies brought by companies to leverage the potential of this type of energy will account for the attractive growth. The most important step toward the commercialization of tidal technology is represented by the MeyGen project, which has been operational since 2017.

The Asia Pacific is one of the key and most attractive markets for wave and tidal energy market. The substantial growth of the economy, awareness amongst the population, availability of resources, and developments in open test sites are anticipated to increase market growth over the forecast period. The North America market has witnessed several developments in recent years.

Some of the key players in the global wave and tidal energy market are Aquamarine Power Ltd., Marine Current Turbines Ltd., Atlantis Resources Ltd., AquaGen Technologies, Tenax Energy, Ocean Renewable Power Company LLC, Ocean Power Technologies, Inc., Carnegie Wave Energy, and Pelamis Wave Power.
Scope of the Global Wave and Tidal Energy Market

Global Wave and Tidal Energy Market by Type
• Wave Power Plants
• Tidal Power Plants

Global Wave and Tidal Energy Market by Technology
• Tidal Steam Generator
• Pendulor Device
• Oscillating Water Columns
• Barrage
• Others

Global Wave and Tidal Energy Market by End-User
• Residential
• Commercial
• Industrial

Global Wave and Tidal Energy Market by Geography
• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• Latin America

Key Players operating in the Global Wave and Tidal Energy Market
• Aquamarine Power Ltd.
• Marine Current Turbines Ltd.
• Atlantis Resources Ltd.
• AquaGen Technologies
• Tenax Energy

Report Published by: Maximize Market Research