Hydrokinetic converters are semiconductor devices, which are used for converting the wave, tidal energy of ocean and river into electrical energy. Hydrokinetic converters do not produce any harmful air emissions while generating electricity, such as greenhouse gases. It provides renewable energy with zero emissions. Also, the use of hydrokinetic converters reduces the burden of non-renewable energy resources and hence indirectly reduces the depletion of non-renewable energy resources. The hydrokinetic converters are assembled with the help of turbines, generator and connecting channels. Since, the hydrokinetic converters generate electrical energy with the help of natural resources that are available for no cost in nature, they becomes more economically relevant to the end users. Globally, it can be observed that the regions like East Asia and South Asia are likely to be the dominating markets for the hydrokinetic converters.
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Rising Need for Conservation of Resources Aids the Hydrokinetic Converters Market
The global hydrokinetic converters market is majorly driven by the need for alternative energy due to the depletion of resources such as fossil fuels. Solar and wind energy have emerged as new energy sources, while other various types of renewable energy sources are being researched across the world. The viability of hydrokinetic converters to generate electrical energy from naturally available resource is being explored by researchers. Since, hydrokinetic converters are still in the early stage of development, their study is the most active topic of research. Although water speed is unpredictable and unstable, the hydrokinetic converters can still operate to fulfill the demand at peak power point. Thereby, aiding the growth of hydrokinetic converters market in recent times.
Rising Awareness Regarding Depletion of Non-Renewable Resources Increases the Growth of Hydrokinetic Converters Market
The global hydrokinetic converters market is segmented on the basis of availability of resources, components such as hydrokinetic turbines and generators, capacity and position of head.
Based on the components used, global hydrokinetic converters market is segmented as:
A] Hydrokinetic Turbines
• Axial Hydrokinetic Turbines
• Cross flow Hydrokinetic Turbines
Regional Outlook of the Hydrokinetic Converters Market
The global hydrokinetic converters market is segmented into seven regions: North America, Europe, MEA, East Asia (Japan, China, and South Korea), South Asia (India, Thailand, Malaysia, Indonesia, Philippines, and Rest of South Asia), Oceania (Australia, New Zealand) and Latin America. Among the regions, East Asia is likely to be the dominating one in the hydrokinetic convertors market owing to the high consumption of hydroelectricity in the region. As the cost of generating hydroelectricity is relatively lower, the developing regions like South Asia, East Asia, and Latin America are estimated to observe a stronger growth during the forecast period. MEA is likely to generate sufficient opportunities during the forecast period to attract the key manufacturers engaged in the production of hydrokinetic convertors.
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The Hydrokinetic Converters Market Report Covers Exhaustive Analysis On:
• Market Segments
• Market Dynamics
• Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies involved
• Technology
• Value Chain
Key players of Hydrokinetic Converters Market
The key players of hydrokinetic converters market are given below:
• ABB
• HOMER Energy
• NREL
• LLC
• Sigma Design
• Hydrokinetica Energy Corp
• Norweco
Along with these, the hydrokinetic converters market consists of global and regional players with vendors ruling their respective markets.
The research report presents a comprehensive assessment of the hydrokinetic converters market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The hydrokinetic converters market can be segmented based on the component used, resource, and position of head, capacity, and geographies.
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