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Wave and Tidal Energy Market By Type, By Technology, By Application : Global Opportunity Analysis and Industry Forecast, 2020-2030

Wave and Tidal Energy Market By Type, By Technology, By Application : Global Opportunity Analysis and Industry Forecast, 2020-2030

  • May 2022
  • 239 pages
  • ID: 6311561
  • Format: PDF
  • Allied Market Research

Summary

Table of Contents

Wave and Tidal Energy Market By Type (Wave Energy, Tidal Energy), By Technology (Tidal stream generator, Oscillating Water Columns, Tidal turbines, Tidal barrages, Tidal fences), By Application (Power generation, Desalination): Global Opportunity Analysis and Industry Forecast, 2020-2030

The global Wave and Tidal Energy market was valued at $0.5 billion in 2020, and is projected to reach $1.3 billion by 2030, growing at a CAGR of 9.4% from 2020 to 2030.
Waves are formed by wind moving across the surface of the ocean. A large amount of energy is stored in waves. In addition, Tidal energy is energy produced by the tides of the ocean. Tidal energy uses gravitational pull of Earth, moon and sun to produce energy where as a wave energy uses kinetic forces of waves to generate electricity and tidal energy works via a turbine works like a wind turbine, with blades rotating 12-to-18 times a minute depending on tide strength. The turbine is connected to a gearbox that turns a generator, creating electricity.
Rise in urbanization and infrastructural development across the globe led to increase in the demand of electricity which led to increase the demand of Wave and Tidal Energy system and may act as the major driving factor for the market. In addition, Wave and Tidal Energy system is highly used in water engineering application which may create ample of opportunities for the market.
The global Wave and Tidal Energy market is segmented on the basis of Type, Technology, Application, Application and region. Depending on Type, the market is categorized into wave energy and tidal energy. On the basis of Technology, it is divided into Tidal stream generator, Oscillating Water Columns, Tidal turbines, tidal barrages and tidal fences. On the basis of Application, it is classified into power generation and desalination. Region wise, it is analyzed across North America, Europe, Asia-Pacific and LAMEA.
IMPACT OF COVID-19 ON THE GLOBAL WAVE AND TIDAL ENERGY MARKET
?The COVID-19 pandemic has curtailed the movement of people, goods and technologies worldwide, including in most regions where production of wave and tidal energy system is on large scale. As part of intensifying efforts to contain the spread of COVID-19, a number of local, state and national governments have imposed various restrictions on the conduct of business and travel, such as stay-at-home orders and quarantines that have led to a significant number of business slowdowns and closures. The COVID-19 pandemic has resulted in, and is expected to continue to result in a substantial curtailment of business activities (including the decrease in demand for a broad variety of goods and technologies), weakened economic conditions, supply chain disruptions, significant economic uncertainty and volatility in the financial and commodity markets, including the reduction in global demand for oil and gas combined with excessive supply, due to disagreements between OPEC, both in the U.S. and abroad. However, disruption in such above-mentioned activities led to decrease in demand for wave and tidal energy system and thus, negatively impacted the whole market.
?The manufacturing of wave and tidal energy system equipment was stopped for a specific period due to high peak of COVID-19 situation, which led to high impact on sales of wave and tidal energy system.

KEY BENEFITS FOR STAKEHOLDERS
?The report includes in-depth analysis of different segments and provides market estimations between 2021 and 2030.
?A comprehensive analysis of the factors that drive and restrict the growth of the global Wave and tidal energy market is provided.
?Porter’s five forces model illustrates the potency of buyers & sellers, which is estimated to assist the market players to adopt effective strategies.
?Estimations and forecast are based on factors impacting the wave and tidal energy market growth, in terms of value.
?Key market players are profiled to gain an understanding of the strategies adopted by them.
?This report provides a detailed analysis of the current trends and future estimations from 2021 to 2030, which helps identify the prevailing market opportunities.

Key Market Segments

By Type
? Wave Energy
? Tidal Energy

By Technology
? Tidal stream generator
? Oscillating Water Columns
? Tidal turbines
? Tidal barrages
? Tidal fences

By Application
? Power generation
? Desalination

By Region
? North America
? U.S.
? Canada
? Mexico
? Europe
? France
? Germany
? Italy
? Spain
? United Kingdom
? Rest of Europe
? Asia-Pacific
? China
? Japan
? India
? South Korea
? Australia
? Rest Of Asia Pacific
? LAMEA
? Brazil
? South Africa,
? Saudi Arabia
? Rest of LAMEA
? Key Market Players
? Aquagen Technologies
? Carnegie Wave Energy Ltd.
? Corpower Ocean AB
? Eco Wave Power
? Ocean Power Technologies, Inc
? Ocean Renewable Power Company
? Pelamis Wave Power
? SIMEC Atlantis Energy
? TENAX ENERGY
? Verdant Power, Inc.

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