Global Marine Power (Wave and Tidal) Sales Market Report 2020
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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 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.
Market Analysis and Insights: Global Marine Power (Wave and Tidal) Market
The global Marine Power (Wave and Tidal) market size is projected to reach US$ XX million by 2026, from US$ XX million in 2020, at a CAGR of XX% during 2021-2026.
Global Marine Power (Wave and Tidal) Scope and Market Size
The global Marine Power (Wave and Tidal) market is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global Marine Power (Wave and Tidal) market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on sales, revenue and forecast by region (country), by Type and by Application for the period 2015-2026.
Segment by Type, the Marine Power (Wave and Tidal) market is segmented into
Wave Power
Tidal Power
Segment by Application, the Marine Power (Wave and Tidal) market is segmented into
Industrial Applications
Commercial Applications
Others
The Marine Power (Wave and Tidal) market is analysed and market size information is provided by regions (countries). Segment by Application, the Marine Power (Wave and Tidal) market is segmented into United States, Europe, China, Japan, Southeast Asia, India and Rest of World.
The report includes region-wise market size for the period 2015-2026. It also includes market size and forecast by players, by Type, and by Application segment in terms of sales and revenue for the period 2015-2026.
Marine Power (Wave and Tidal) market competitive landscape provides details and data information by players. The report offers comprehensive analysis and accurate statistics on revenue by the player for the period 2015-2020. It also offers detailed analysis supported by reliable statistics on revenue (global and regional level) by players for the period 2015-2020. Details included are company description, major business, company total revenue and the sales, revenue generated in Marine Power (Wave and Tidal) business, the date to enter into the Marine Power (Wave and Tidal) market, Marine Power (Wave and Tidal) product introduction, recent developments, etc.
The major vendors covered:
Wello Oy
Pulse Tidal
Oceanlinx
Marine Current Turbines (MCT)
ORPC
OpenHydro
BioPower Systems
AWS Ocean Energy
Voith Hydro
Ocean Power Technologies
Aquamarine Power
Carnegie Wave Energy
Verdant Power
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 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.
Market Analysis and Insights: Global Marine Power (Wave and Tidal) Market
The global Marine Power (Wave and Tidal) market size is projected to reach US$ XX million by 2026, from US$ XX million in 2020, at a CAGR of XX% during 2021-2026.
Global Marine Power (Wave and Tidal) Scope and Market Size
The global Marine Power (Wave and Tidal) market is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global Marine Power (Wave and Tidal) market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on sales, revenue and forecast by region (country), by Type and by Application for the period 2015-2026.
Segment by Type, the Marine Power (Wave and Tidal) market is segmented into
Wave Power
Tidal Power
Segment by Application, the Marine Power (Wave and Tidal) market is segmented into
Industrial Applications
Commercial Applications
Others
The Marine Power (Wave and Tidal) market is analysed and market size information is provided by regions (countries). Segment by Application, the Marine Power (Wave and Tidal) market is segmented into United States, Europe, China, Japan, Southeast Asia, India and Rest of World.
The report includes region-wise market size for the period 2015-2026. It also includes market size and forecast by players, by Type, and by Application segment in terms of sales and revenue for the period 2015-2026.
Competitive Landscape
and Marine Power (Wave and Tidal) Market Share AnalysisMarine Power (Wave and Tidal) market competitive landscape provides details and data information by players. The report offers comprehensive analysis and accurate statistics on revenue by the player for the period 2015-2020. It also offers detailed analysis supported by reliable statistics on revenue (global and regional level) by players for the period 2015-2020. Details included are company description, major business, company total revenue and the sales, revenue generated in Marine Power (Wave and Tidal) business, the date to enter into the Marine Power (Wave and Tidal) market, Marine Power (Wave and Tidal) product introduction, recent developments, etc.
The major vendors covered:
Wello Oy
Pulse Tidal
Oceanlinx
Marine Current Turbines (MCT)
ORPC
OpenHydro
BioPower Systems
AWS Ocean Energy
Voith Hydro
Ocean Power Technologies
Aquamarine Power
Carnegie Wave Energy
Verdant Power
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
Details
QYR-16608251
23-Oct-2020
144
23-Oct-2020
144
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