Wave and Tidal Energy Market Size, Share & Trends Analysis Report By Energy Type (Wave, Tidal), By Region (North America, Europe, Asia Pacific), Competitive Landscape, And Segment Forecasts, 2018 - 2025

Published: Feb, 2018 | Pages: 100 | Publisher: Grand View Research
Industry: Energy | Report Format: Electronic (PDF)

The global wave and tidal energy market size is expected to reach USD 3.9 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a 42.5% CAGR during the forecast period. Need to reduce dependency on fossil fuels, increasing investments, and supportive government regulations are likely to fuel market growth over the coming years.

The renewable energy sector has witnessed significant expansion in terms of installations worldwide in 2016. The capacities in wind, marine, solar, waste-to-energy, small geothermal and hydro sources, and biomass combined added up to 138.5 GW in 2016, up from 127.5 GW in 2015. Investments in electricity generation through novel renewable sources was twice in comparison to fossil fuels.

Ocean energy is witnessing significant development in terms of new projects in various economies including U.K., Ireland, Sweden, Portugal, Thailand, India, Japan, China, Canada, and U.S., which is likely to fuel market growth over the coming years. However, high cost and socio-economic and environmental barriers are likely to restrain the development of the market over the forecast period.

Further key findings from the report suggest:

• The wave energy segment is likely to register significant growth in the coming years on account of extensive R&D and new project developments in numerous economies including Ireland, Sweden, Portugal, U.S., China, and New Zealand

• The tidal segment dominated the market on account of high technological know-how. However, environmental concerns related to the technology are likely to restrain its growth

• Asia Pacific is expected to be a lucrative market for the technology on account of supportive government initiatives

• The number of companies in the global wave and tidal energy market has registered an increase in recent years. These companies are constantly making significant efforts to advance their technologies and deploy novel and improved equipment

• R&D, new project developments, partnerships, and acquisitions are some of the major strategies being adopted by companies in the industry. In November 2016, BPS developed an ocean wave forecasting system for efficient operation of wave energy projects. This technology can also be used for fishing, aquaculture, diving, and oil and gas operations.

 Table of Contents

Chapter 1 Methodology And Scope
                 1.1 Research methodology
                 1.2 Research scope & assumptions
                 1.3 List of Data sources

Chapter 2 Executive Summary
                 2.1 Market snapshot

Chapter 3 Wave & Tidal Energy Market Variables, Trends & Scope
                 3.1 Market Segmentation & scope
                 3.2 Penetration & growth prospect mapping
                 3.3 Value chain analysis
                 3.4 Technology trends
                      3.4.1 Wave energy
                           3.4.1.1 Onshore
                                3.4.1.1.1 Overtopping devices or terminator WEC
                                3.4.1.1.2 Oscillating wave surge converters
                           3.4.1.2 Nearshore
                                3.4.1.2.1 Point absorber
                                3.4.1.2.2 Submerged pressure differential devices
                           3.4.1.3 Offshore
                                3.4.1.3.1 Attenuator
                                3.4.1.3.2 Bulge wave devices
                                3.4.1.3.3 Rotating mass converters
                      3.4.2 Tidal stream
                           3.4.2.1 Horizontal-axis turbine
                           3.4.2.2 Vertical-axis turbine
                           3.4.2.3 Oscillating hydrofoil (Reciprocating device)
                           3.4.2.4 Ducted turbine or enclosed tips
                           3.4.2.5 Archimedes' screw
                           3.4.2.6 Tidal kite
                      3.4.3 Tidal range
                 3.5 Regulatory framework
                      3.5.1 United Nations
                      3.5.2 European Commission
                      3.5.3 U.S.
                      3.5.4 Canada
                      3.5.5 Mexico
                      3.5.6 Australia
                      3.5.7 China
                      3.5.8 Republic of Korea
                      3.5.9 Belgium
                      3.5.10 Denmark
                      3.5.11 U.K.
                      3.5.12 Germany
                      3.5.13 Portugal
                      3.5.14 Spain
                      3.5.15 Sweden
                      3.5.16 Scotland
                      3.5.17 Wales
                 3.6 Market dynamics
                      3.6.1 Market driver analysis
                           3.6.1.1 The need for limiting dependency on fossil fuel
                           3.6.1.2 Increased investments in renewable energy sector
                           3.6.1.3 Supportive measures by government bodies to promote the use of marine energy
                      3.6.2 Market restraint analysis
                           3.6.2.1 Limiting growth of electricity demand in OECD countries
                           3.6.2.2 High cost
                           3.6.2.3 Socio-Economic, Security & Environmental barriers
                 3.7 Wave & tidal energy market - PESTEL analysis
                 3.8 Wave & tidal energy market analysis - Porter's
                 3.9 Wave & tidal energy market - Cost Analysis

Chapter 4 Wave & Tidal Energy Market: Type Estimates & Trend Analysis
                 4.1 Wave & tidal energy market: Energy type movement analysis
                 4.2 Wave Energy
                      4.2.1 Wave energy market demand, 2014 - 2025 (USD Million) (Megawatt)
                 4.3 Tidal Energy
                      4.3.1 Tidal energy market demand, 2014 - 2025 (USD Million) (Megawatt)

Chapter 5 Wave & Tidal Energy Market: Regional Estimates & Trend Analysis
                 5.1 Regional movement analysis & market share, 2016 & 2025
                 5.2 North America movement analysis & market share, 2016 & 2025
                      5.2.1 North America wave & tidal energy market estimates and forecasts, by energy type (USD million) (Megawatt)
                      5.2.2 Canada wave & tidal energy market share, 2016 & 2025
                           5.2.2.1 Canada market estimates and forecast, by energy type (USD million)(Megawatt)
                 5.3 Europe movement analysis & market share, 2016 & 2025
                      5.3.1 Europe market estimates and forecast, by energy type (USD million) (Megawatt)
                      5.3.2 U.K. wave & tidal energy market share, 2016 & 2025
                           5.3.2.1 U.K. market estimates and forecast, by energy type (USD million) (Megawatt)
                      5.3.3 France wave & tidal energy market share, 2016 & 2025
                           5.3.3.1 France market estimates and forecast, by energy type (USD million) (Megawatt)
                 5.4 Asia Pacific movement analysis & market share, 2016 & 2025
                      5.4.1 Asia Pacific wave & tidal energy market estimates and forecasts, by energy type (USD million)
                      5.4.2 China wave & tidal energy market share, 2016 & 2025
                           5.4.2.1 China wave & tidal energy market estimates and forecasts, by energy type (USD million)
                      5.4.3 South Korea wave & tidal energy market share, 2016 & 2025
                           5.4.3.1 South Korea wave & tidal energy market estimates and forecasts, by energy type (USD million)

Chapter 6 Competitive Landscape
                 6.1 Vendor landscape
                 6.2 Competitive scenario
                 6.3 Market positioning
                 6.4 Strategy framework

Chapter 7 Company Profiles
                 7.1 Atlantis Resources Corp.
                      7.1.1 Company overview
                      7.1.2 Financial performance
                      7.1.3 Project benchmarking
                      7.1.4 Strategic initiatives
                 7.2 AW-Energy
                      7.2.1 Company overview
                      7.2.2 Financial performance
                      7.2.3 Project benchmarking
                      7.2.4 Strategic initiatives
                 7.3 AWS Ocean Energy
                      7.3.1 Company overview
                      7.3.2 Project benchmarking
                 7.4 Andritz Hydro Hammerfest
                      7.4.1 Company overview
                      7.4.2 Project benchmarking
                      7.4.3 Strategic initiatives
                 7.5 BioPower Systems
                      7.5.1 Company overview
                      7.5.2 Project benchmarking
                      7.5.3 Strategic initiatives
                 7.6 Kepler Energy Limited
                      7.6.1 Company overview
                      7.6.2 Project benchmarking
                 7.7 Minesto
                      7.7.1 Company overview
                      7.7.2 Financial performance
                      7.7.3 Project benchmarking
                      7.7.4 Strategic Initiatives
                 7.8 Ocean Power Technologies
                      7.8.1 Company overview
                      7.8.2 Project benchmarking
                      7.8.3 Financial performance
                      7.8.4 Strategic initiatives
                 7.9 Pelamis Wave Power Limited
                      7.9.1 Company overview
                      7.9.2 Project benchmarking
                 7.10 Seabased AB
                      7.10.1 Company overview
                      7.10.2 Project benchmarking
                      7.10.3 Strategic initiatives
                 7.11 Tidal Power Limited
                      7.11.1 Company overview
                      7.11.2 Project benchmarking
                      7.11.3 Strategic initiatives
                 7.12 Trident Energy
                      7.12.1 Company overview
                      7.12.2 Project benchmarking
                      7.12.3 Strategic initiatives
                 7.13 Tidal Energy Limited
                      7.13.1 Company overview
                      7.13.2 Project benchmarking
                 7.14 Wave Dragon
                      7.14.1 Company overview
                      7.14.2 Project benchmarking
                      7.14.3 Strategic initiatives
                 7.15 Wave Star Energy A/S
                      7.15.1 Company overview
                      7.15.2 Project benchmarking
                 7.16 Wello Oy
                      7.16.1 Company overview
                      7.16.2 Strategic initiatives
                      7.16.3 Project benchmarking
                 7.17 Ocean Renewable Power Company
                      7.17.1 Company overview
                      7.17.2 Project benchmarking
                      7.17.3 Strategic initiatives
                 7.18 Carnegie Clean Energy Limited
                      7.18.1 Company overview
                      7.18.2 Project benchmarking
                      7.18.3 Strategic initiatives
                 7.19 CorPower Ocean AB
                      7.19.1 Company overview
                      7.19.2 Project benchmarking
                 7.20 Nautricity Limited
                      7.20.1 Company overview
                      7.20.2 Project benchmarking
                 7.21 Openhydro
                      7.21.1 Company overview
                      7.21.2 Project benchmarking
                      7.21.3 Strategic initiatives
                 7.22 Seatricity Limited
                      7.22.1 Company overview
                      7.22.2 Project benchmarking
                 7.23 ScottishPower Renewables Limited
                      7.23.1 Company overview
                      7.23.2 Financial performance
                      7.23.3 Project benchmarking
                 7.24 Tocardo International BV
                      7.24.1 Company overview
                      7.24.2 Financial performance
                      7.24.3 Project benchmarking
                      7.24.4 Strategic initiatives
                 7.25 Voith Hydro
                      7.25.1 Company overview
                      7.25.2 Financial performance
                      7.25.3 Project benchmarking
                      7.25.4 Strategic initiatives
                 7.26 Aquamarine Power Limited
                      7.26.1 Company overview
                      7.26.2 Project benchmarking
                 7.27 Mako Tidal Turbines
                      7.27.1 Company overview
                      7.27.2 Financial performance
                      7.27.3 Project benchmarking
                      7.27.4 Strategic initiatives
                 7.28 Nova Innovation Limited
                      7.28.1 Company overview
                      7.28.2 Project benchmarking
                      7.28.3 Strategic initiatives

List of Tables

Table 1. Ocean Energy electricity scenario, 2015-2020, MW
Table 2. Wave energy market estimates & forecasts, 2014 - 2025 (USD Million) (Megawatt)
Table 3. Tidal energy market estimates & forecasts, 2014 - 2025 (USD Million) (Megawatt)
Table 4. North America wave & tidal energy market revenue, by energy type, 2014 - 2025 (USD Million)
Table 5. North America wave & tidal energy market installed capacity, by energy type, 2014 - 2025 (Megawatt)
Table 6. Canada wave & tidal energy market revenue, by energy type, 2014 - 2025 (USD Million)
Table 7. Canada wave & tidal energy market installed capacity, by energy type, 2014 - 2025 (Megawatt)
Table 8. Europe wave & tidal energy market revenue, by energy type, 2014 - 2025 (USD Million)
Table 9. Europe wave & tidal energy market installed capacity, by energy type, 2014 - 2025 (Megawatt)
Table 10. U.K. wave & tidal energy market revenue, by energy type, 2014 - 2025 (USD Million)
Table 11. U.K. wave & tidal energy market installed capacity, by energy type, 2014 - 2025 (Megawatt)
Table 12. France wave & tidal energy market revenue, by energy type, 2014 - 2025 (USD Million)
Table 13. France wave & tidal energy market installed capacity, by energy type, 2014 - 2025 (Megawatt)
Table 14. Asia Pacific wave & tidal energy market revenue, by energy type, 2014 - 2025 (USD Million)
Table 15. Asia Pacific wave & tidal energy market installed capacity, by energy type, 2014 - 2025 (Megawatt)
Table 16. China wave & tidal energy market revenue, by energy type, 2014 - 2025 (USD Million)
Table 17. China wave & tidal energy market installed capacity, by energy type, 2014 - 2025 (Megawatt)
Table 18. South Korea wave & tidal energy market revenue, by energy type, 2014 - 2025 (USD Million)
Table 19. South Korea wave & tidal energy market installed capacity, by energy type, 2014 - 2025 (Megawatt)

List of Figures

FIG. 1 Market snapshot, 2016
FIG. 2 Market segmentation & scope
FIG. 3 Penetration & growth prospect mapping
FIG. 4 Value Chain Analysis
FIG. 5 Market Dynamics
FIG. 6 Market driver relevance analysis (Current & future impact)
FIG. 7 Renewable power capacities in top 6 countries, 2015 & 2016 (Gigawatts)
FIG. 8 Global New Investment In Renewable Energy: Developed & Developing Countries, 2004-2016, (US Billion)
FIG. 9 Global New Investment In Renewable Energy: Split By Type Of Economy, 2004-2016,(USD Billion)
FIG. 10 Global New Investment In Renewable Energy By Region, 2016, (USD Billion) (%)
FIG. 11 Global New Investment In Renewable Energy By Region, 2016, (USD Billion) (%)
FIG. 12 Market restraint relevance analysis (Current & future impact)
FIG. 13 Electricity Supplied In Oecd Countries, 2004 To 2016, Twh
FIG. 14 PESTEL Analysis
FIG. 15 Porter's Five Forces Analysis
FIG. 16 Wave & Tidal Energy market energy type outlook: Key takeaways
FIG. 17 Wave & tidal energy market: Energy type movement analysis, 2016 & 2025
FIG. 18 Regional market place: Key takeaways
FIG. 19 Wave & tidal energy market: Regional movement analysis, 2016 & 2025
FIG. 20 North America market estimates & forecasts (2014 - 2025) (USD Million) (Megawatt)
FIG. 21 Canada country outlook, 2014 to 2025 (USD Million) (Megawatt)
FIG. 22 Europe market estimates & forecasts (2014 - 2025) (USD Million) (Megawatt)
FIG. 23 UK country outlook, 2014 to 2025 (USD Million) (Megawatt)
FIG. 24 France country outlook, 2014 to 2025 (USD Million) (Megawatt)
FIG. 25 Asia Pacific market estimates & forecasts (2014 - 2025) (USD Million) (Megawatt)
FIG. 26 China country outlook, 2014 to 2025 (USD Million) (Megawatt)
FIG. 27 South Korea country outlook, 2014 to 2025 (USD Million) (Megawatt)
FIG. 28 Strategy Framework: Wave & Tidal Energy