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Analyzing the Global Market for Marine Energy

  • July 2013
  • -
  • Aruvian's R'search
  • -
  • 140 pages

The global marine energy industry is at an exciting and critical stage in its development. After a period of intense development, the leading technologies are now moving rapidly to deploy full scale demonstration and early commercial projects. The industry must now focus on the challenge of commercialization.


The ocean energy industry has a number of technologies and concepts. The diversity in the industry is having an unintended impact on the development of the supply chain which could play a significant role in the development of the ocean energy sector and also help in reduction of costs and the commercialization of various concepts.


Hydro power is the maximum power generator followed by wind power, biomass and geothermal power. The trend is expected to continue and solar power will also become one of the major power generators in future. Ocean energy is a source which doesn’t depend on the uncertainties associated with the fossil fuels (availability and volatility). Therefore ocean energy is an important source of energy. The ocean energy industry is in a nascent stage and can only provide small contributions to the energy portfolio. The real potential of the ocean energy is yet to be realized and will take time to develop.


Marine current power is a form of power based on harnessing the kinetic energy of marine currents. It includes both tidal power and energy derived from ocean currents. Although not widely used at present, marine current power has important potential in the future of electricity generation. The industry must prove that the technology works at a commercial scale in a challenging environment. It must also prove that the technology can be cost competitive with other forms of energy generation.


Ocean Power Technologies, Oceanlinx, Aquamarine Power, are some of the most powerful players in the industry.
Aruvian Research analyzes the Global Marine Energy industry in its research reports Analyzing the Global Market for Marine Energy. The report begins with a brief profile of the global energy industry and the global renewable energy industry. We look at the oil market, the natural gas market, impacts on the industry along with the challenges facing the industry. Future perspective of the global energy industry is also included.
Analyzing the global market for marine energy, we look at the industry through an overview of what is marine energy, applications of marine energy and the technology behind marine energy. In our report, we analyze the marine energy industry through the technologies of tidal energy and wave energy.
We include industry statistics, supply chain analysis, installed capacity of marine energy worldwide and generation statistics of marine energy worldwide. We analyze global statistics as well as installed capacity and generation capacity for both tidal energy and wave energy.


Industry segmentation and drivers/challenges facing the industry is analyzed in the report as well.
Moving to the analysis of the key marine energy markets, we analyze the market in United Kingdom, United States, Australia and South Korea. Marine energy developments in some other countries are also analyzed briefly.


Major industry players such as Ocean Power Technologies, AWS Ocean Energy, Biopower Systems, Oceanlinx, Pelamis, Wave Star Energy, etc., are analyzed in this in-depth report on marine energy from Aruvian Research.

Table Of Contents

Analyzing the Global Market for Marine Energy
A. Executive Summary

B. Global Energy Industry: Brief Profile
B.1 Industry Definition
B.2 Brief Profile of the Industry
B.3 Looking at the Global Oil Market
B.4 Looking at the Global Natural Gas
B.5 Looking at Other Fuels
B.6 Impacts on the Industry
B.7 Challenges Facing the Industry
B.8 Future Perspective

C. Global Renewable Energy Industry: Brief Profile

D. Global Market for Marine Energy
D.1 Overview
D.2 Applications of Marine Energy
D.3 Technology behind Marine Energy
D.3.1 Tidal Technology
D.3.2 Wave Technology
D.3.3 Upcoming Technologies
D.4 Industry Overview
D.5 Supply Chain Analysis
D.6 Global Marine Energy Capacity
D.6.1 Marine Energy
D.6.2 Tidal Technology
D.6.3 Wave Technology
D.7 Generation Statistics
D.7.1 Marine Energy
D.7.2 Tidal Technology
D.7.3 Wave Technology

E. Industry Segmentation

F. Drivers and Challenges Facing Marine Energy
F.1 Growing Popularity of Renewable Energy:
F.2 GHG Emissions and the Rising Use of Coal
F.3 Rising Oil Prices
F.4 Regulatory Issues
F.5 High Investment Costs and Infrastructure Issues

G. Marine Energy in the United Kingdom
G.1 Industry Overview
G.2 Capacity of Tidal Energy
G.3 Capacity of Wave Energy
G.4 Tidal Energy Generation Statistics
G.5 Wave Energy Generation Statistics
G.6 Economic Analysis
G.7 Market Share Analysis
G.8 Regulatory Framework

H. Marine Energy in the United States
H.1 Industry Overview
H.2 Capacity of Tidal Energy
H.3 Capacity of Wave Energy
H.4 Tidal Energy Generation Statistics
H.5 Wave Energy Generation Statistics
H.6 Economic Analysis
H.7 Marine Energy in the US by States
H.7.1 California
H.7.2 Oregon
H.8 Regulatory Framework

I. Marine Energy in Australia

J. Marine Energy in South Korea

K. Marine Energy Developments in Other Countries
K.1 Belgium
K.2 Canada
K.3 Denmark
K.4 Germany
K.5 Japan
K.6 Portugal
K.7 South Africa
K.8 Spain

L. Major Industry Players
L.1 Ocean Power Technologies
L.1.1 Corporate Profile
L.1.2 Business Segment Analysis
L.1.3 Financial Analysis
L.1.5 SWOT Analysis
L.2 AWS Ocean Energy
L.3 Biopower Systems Pty. Ltd.
L.4 Carnegie Wave Energy Limited
L.5 Korea Midland Power Co Ltd
L.6 Marine Current Turbines
L.7 Oceana Energy Company
L.8 Oceanlinx Limited
L.9 Ocean Renewable Power Company
L.10 Openhydro Group Limited
L.11 Pelamis Wave Power Ltd
L.12 RWE Npower Renewables Ltd.
L.13 Seabased Industry AB
L.14 Voith Hydro Wavegen Ltd
L.15 Wave Star Energy A/S

M. Glossary of Terms


List of Figures


Figure 1: Proved Reserves of Oil at end of 2011
Figure 2: Proved Reserves of Natural Gas at 2011 (Trillion Cubic Meters)
Figure 3: Control over Production of Remaining Commercial Reserves of Natural Gas
Figure 4: Proved Reserves of Coal at end of 2011
Figure 5: Global Energy Consumption Forecast (2003-2030)
Figure 6: Global Energy Consumption Forecast by Fuel Type (1980-2030)
Figure 7: Installed Capacity of the Global Renewable Energy Industry (in MW), 2012-2020
Figure 8: Global Renewable Energy Generation (in GWh), 2012-2020
Figure 9: Energy Levels of Waves and Potential Wave Energy Sites Worldwide (in kW/m)
Figure 10: Global Installed Capacity of Global Marine Energy (in MW), 2012-2020
Figure 11: Installed Capacity of Tidal Energy Worldwide (in MW), 2012-2020
Figure 12: Installed Capacity of Wave Energy Worldwide (in MW), 2012-2020
Figure 13: Global Generation of Marine Energy (in GWh), 2012-2020
Figure 14: Global Generation of Tidal Energy (in GWh), 2012-2020
Figure 15: Global Generation of Wave Energy (in GWh), 2012-2020
Figure 16: Global Marine Energy Industry Segmentation by Technology Type (%), 2012
Figure 17: Global Marine Energy Industry Segmentation by Geography (%), 2012
Figure 18: Global Wave Energy Industry Segmentation by Geography (%), 2012
Figure 19: Global Tidal Energy Industry Segmentation by Geography (%), 2012
Figure 20: Installed Capacity of Tidal Energy in the UK (in MW), 2012-2020
Figure 21: Installed Capacity of Wave Energy in the UK (in MW), 2012-2020
Figure 22: Generation of Tidal Energy in the UK (in GWh), 2012-2020
Figure 23: Generation of Wave Energy in the UK (in GWh), 2012-2020
Figure 24: Installation Costs of Wave Energy Converters in the UK (in USD/kW)
Figure 25: Installation Costs of Tidal Energy Converters in the UK (in USD/kW)
Figure 26: Generation Costs Range for Wave and Tidal Technologies in the UK (in USD/KW)
Figure 27: Capital Costs for a Wave Farm in the UK (%), 2012
Figure 28: Capital Costs for a Tidal Stream Farm in the UK (%), 2012
Figure 29: Market Share Analysis of the UK Tidal Energy Market (%), 2012
Figure 30: Market Share Analysis of the UK Wave Energy Market (%), 2012
Figure 31: Potential of Wave Energy in US and Canada (in TWh/year)
Figure 32: Potential of Tidal Energy in US and Canada (in TWh/year)
Figure 33: Installed Capacity of Tidal Energy in the US (in MW), 2012-2020
Figure 34: Installed Capacity of Wave Energy in the US (in MW), 2012-2020
Figure 35: Generation of Tidal Energy in the US (in GWh), 2012-2020
Figure 36: Generation of Wave Energy in the US (in GWh), 2012-2020
Figure 37: Generation Costs of Wave Energy in the US (in Cents/kWh)
Figure 38: Generation Costs of Tidal Energy in the US (in Cents/kWh)


List of Tables


Table 1: Installed Capacity of the Global Renewable Energy Industry (in MW), 2012-2020
Table 2: Global Renewable Energy Generation (in GWh), 2012-2020
Table 3: Comparing Ocean Energy with Other Energy Sources
Table 4: Major Tidal Technology Industry Players and their Major Technologies
Table 5: Major Wave Technology Industry Players and their Major Technologies
Table 6: Global Installed Capacity of Global Marine Energy (in MW), 2012-2020
Table 7: Installed Capacity of Wave Energy Worldwide (in MW), 2012-2020
Table 8: Installed Capacity of Wave Energy Worldwide (in MW), 2012-2020
Table 9: Global Generation of Marine Energy (in GWh), 2012-2020
Table 10: Global Generation of Tidal Energy (in GWh), 2012-2020
Table 11: Global Generation of Wave Energy (in GWh), 2012-2020
Table 12: Installed Capacity of Tidal Energy in the UK (in MW), 2012-2020
Table 13: Installed Capacity of Wave Energy in the UK (in MW), 2012-2020
Table 14: Generation of Tidal Energy in the UK (in GWh), 2012-2020
Table 15: Generation of Wave Energy in the UK (in GWh), 2012-2020
Table 16: Installed Capacity of Tidal Energy in the US (in MW), 2012-2020
Table 17: Installed Capacity of Wave Energy in the US (in MW), 2012-2020
Table 18: Generation of Tidal Energy in the US (in GWh), 2012-2020
Table 19: Generation of Wave Energy in the US (in GWh), 2012-2020


Companies Mentioned
Ocean Power Technologies
AWS Ocean Energy
Biopower Systems Pty. Ltd.
Carnegie Wave Energy Limited
Korea Midland Power Co Ltd
Marine Current Turbines
Oceana Energy Company
Oceanlinx Limited
Ocean Renewable Power Company
Openhydro Group Limited
Pelamis Wave Power Ltd
RWE Npower Renewables Ltd.
Seabased Industry AB
Voith Hydro Wavegen Ltd
Wave Star Energy A/S

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