Marine Power (Wave and Tidal) Market 2019-2024 by Recent Technology with Top Key Players- Wello Oy, Pulse Tidal, Oceanlinx, Marine Current Turbines, ORPC, OpenHydro and more…
A new market study, titled “Global Marine Power (Wave and Tidal) Market Growth 2019-2024”, has been featured on WiseGuyReports.
Marine Power (Wave and Tidal) Market
Marine energy or marine power (also sometimes referred to as ocean energy, ocean power, or marine and hydrokinetic energy) refers to the energy carried by ocean waves, tides, salinity, and ocean temperature differences. The movement of water in the world’s oceans creates a vast store of kinetic energy, or energy in motion. This energy can be harnessed to generate electricity to power homes, transport and industries.
The year 2015 represented a significant milestone for the sector from a policy standpoint, with the publication of the Blue Energy Communication, the establishment of the Ocean Energy Forum and the European Technology and Innovation Platform for Ocean Energy (TIP). The announcement of the awards for the second NER 300 call has seen the number of ocean energy arrays expected to be deployed in European waters by 2018 or earlier rising to five. On the other hand, forecasts of expected ocean energy capacity by 2020 have been further reduced, due to the slow technological progress of the sector and difficulties in attracting funds and financing. The slow growth of the sector and delays in the formation of the market have forced key developers and OEMs to either downsize or withdraw their interest in developing ocean energy technology.
The key manufacturers covered in this report:
Marine Current Turbines (MCT)
AWS Ocean Energy
Ocean Power Technologies
Carnegie Wave Energy
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The ocean energy market is still in its infancy, and whilst foundations for its growth have been put in place, the sector seeks to further prove the reliability of its technology moving towards demonstration of pre-commercial arrays. A number of key developments have been seen in 2014 to ensure the establishment of ocean energy markets in Europe and worldwide, including:
• About 30 tidal and 45 wave energy companies are currently at an advanced stage of technological development, with a number of technologies nearing pre-commercial array demonstration and others deploying full-scale prototypes in real-sea environments.
- Europe could see up to 40 MW of tidal installed capacity by 2018, and 26 MW of wave energy capacity, if proposed and awarded projects go ahead and reach financial close.
- The deployment of the first tidal energy array is expected for 2016 in the UK, with MeyGen becoming the first ocean energy project to reach financial close. The tidal sector has seen an increased participation of OEMs in the development of technology and in promoting tidal farms across Europe; however, the costs and reliability of technologies will be paramount in assuring further developments. The development of second- and third-generation tidal technologies is opening up possibilities for cost reduction as well as deployments in low-energy-density water.
- The development of wave energy technologies is lagging behind that of tidal energy. However, deployment projects are currently taking place in Europe, the US and Australia. The sector is, however, seeing intensified collaboration to identify common PTO solutions.
• OTEC and salinity gradient technologies are developing demonstration plants. A 10 MW OTEC plant has been awarded funds through NER 300, whilst a 50 kW salinity gradient pilot-plant began operation in the Netherlands.
This report presents a comprehensive overview, market shares, and growth opportunities of Marine Power (Wave and Tidal) market by product type, application, key manufacturers and key regions and countries. This study considers the Marine Power (Wave and Tidal) value and volume generated from the sales of the following segments:
Segmentation by product type:
Segmentation by application:
This report also splits the market by region:
Middle East & Africa
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
To study and analyze the global Marine Power (Wave and Tidal) consumption (value & volume) by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Marine Power (Wave and Tidal) market by identifying its various subsegments.
Focuses on the key global Marine Power (Wave and Tidal) manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Marine Power (Wave and Tidal) with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the consumption of Marine Power (Wave and Tidal) submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
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