Global Wave And Tidal Energy Market 2021: Size, Share, Analysis and Forecast-2027


Posted September 28, 2021 by Vaibhavwa_mrfr21

There are many large and medium scale wave and tidal energy projects in different countries. Companies which are engaged in

 
Wave And Tidal Energy Market Overview
There are many large and medium scale wave and tidal energy projects in different countries. Companies which are engaged in producing advanced wave and tidal energy equipment’s and technology are backed by the government as well as many firms in order to increase the energy generation capacity from the same. The manufacturers and developers of the equipment’s are undertaking cost cutting initiatives which involves the use of advanced materials, software, and environmental monitoring. Power generated from these technologies is clean and does not emit any gases that could harm the environment. As an approach to increase the production of clean energy and to meet the growing energy demand, governments are considering the use of ocean energy as a substitute over fossil fuels.

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Many wave and tidal energy projects have been initiated across the world, these will contribute in fulfilling the energy demand across the globe. Governments support the development of these projects through a range of initiatives. Moreover, collaboration between the companies will bring down fixed costs and tariff rates. At present, the market requires high initial cost of investments in wave and tidal projects to achieve better output. By collaborating with other companies, the market players will be able to offer energy generated from these projects at an affordable price. Companies are expanding their presence in other regions, for instance, Nova Innovation announced that they are expanding their presence in the North America region. The company has received a permit to develop a tidal project in Nova Scotia. Countries across Europe region have been aware regarding the effects of non-renewable energy sources and have acted accordingly to facilitate newer renewable sources of energy. Significant investments have been made by governing authorities and private institutions to develop innovative wave and tidal energy solutions in Europe. The estimated amount of energy from wave tidal energy projects to be commenced in the coming years is around 3.4 MW. This amount is more than six fold the generation capacity in the year 2018. Similarly, around 8 MW of energy is expected to be generated from wave energy deployments across the region of Europe in the near future.

Key Players

Able Technologies, L.L.C., AOE Accumulated Ocean Energy Inc., AW-Energy Oy, Blue Power Energy Ltd, BPS, CalWave Power Technologies Inc., Ecomerit Technologies, LLC, Hydrocap Energy, INGINE Inc., MARINE POWER SYSTEMS, Minesto AB, OceanEnergy, Orbital Marine Power, ORPC, Inc., SIMEC Atlantis Energy, TECNALIA, The LEANCON Wave Energy Device, Verdant Power, Inc., Wave Star A/S, amongst others.



Market Segmentation

By Device Type
Wave Energy Devices
Surface Attenuator
Point Absorber
Oscillating Wave Surge Converter
Oscillating Water Column (OWC)
Overtopping/Terminator Device (OTD)
Submerged Pressure Differential
Bulge Wave
Rotating Mass
Others
Tidal Energy Devices
Tidal Turbines
Horizontal Axis Turbine
Vertical Axis Turbine
Oscillating Hydrofoil
Enclosed Tips (Venturi)
Archimedes Screw
Tidal Kite
Others
By Application
Shoreline
Nearshore
Offshore


Analysis By Region

North America

S.
Canada
Mexico
Europe
France
The UK
Spain
Germany
Italy
Nordic Countries
Denmark
Finland
Iceland
Norway
Sweden
Benelux Union
Belgium
The Netherlands
Luxemburg
Rest of Europe
Asia Pacific
China
Japan
India
New Zealand
Australia
South Korea
Southeast Asia
Indonesia
Thailand
Malaysia
Singapore
Rest of Southeast Asia
Rest of Asia Pacific
Middle East & Africa
Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
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Issued By AMI
Phone +91-740-024-2424
Business Address Absolute Markets Insights
Country India
Categories Business , Energy
Tags wave and tidal energy market
Last Updated September 28, 2021