The United Kingdom leads global ocean energy RD&D investment, reaching $26.24 million in 2023. France and Mexico follow, with $16.93 million and $13.32 million, respectively. While the UK's investment grew by 4.06%, France's declined by 1.83%. Japan saw a significant year-on-year decrease of 7.55%, with Canada also reducing its investment by 4.18%. In contrast, Sweden increased its spending by 5.08%.
For future trends in global ocean energy research beyond offshore wind:
- Innovations in wave and tidal energy technology could reshape competitive dynamics.
- Policy incentives may drive further RD&D investment shifts.
- Global partnerships and collaborations could influence future spending patterns.
Top countries in Ocean Energy (Excluding Offshore Wind) RD&D by Country
| # | 9 Countries | Million US Dollars PPP = 2018 | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United Kingdom | 26.24 | 2023 | +2.7% | +4.06% | View data |
| 2 | 2 France | 16.93 | 2023 | +8.11% | -1.83% | View data |
| 3 | 3 Mexico | 13.32 | 2023 | +21.31% | +0.57% | View data |
| 4 | 4 Japan | 12.52 | 2023 | +7.56% | -7.55% | View data |
| 5 | 5 Sweden | 5.7 | 2023 | +1.6% | +5.08% | View data |
| 6 | 6 Canada | 3.61 | 2023 | 0% | -4.18% | View data |
| 7 | 7 Denmark | 2.92 | 2023 | +1.74% | View data | |
| 8 | 8 Australia | 0.43 | 2023 | +2.38% | -32.77% | View data |
| 9 | 9 Netherlands | 0.06 | 2023 | +20% | -3.04% | View data |
