Dublin, April 29, 2020 (GLOBE NEWSWIRE) -- The "Wave Energy Market by Technology (OSW, OBC, & Overtopping Converters), Location (Onshore, Nearshore, Offshore), Application (Desalination, Power Generation, and Environmental Protection), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The wave energy market is projected to reach USD 107 million by 2025, at a CAGR of 19.3 % from 2020 to 2025.
Rising adoption of renewable energy generation and other applications is helping manufacturers to invest more in R&D leading to the growth of the wave energy market.
The power generation segment is expected to be the fastest-growing market during the forecast period.
The wave energy market, by application, is segmented into desalination, power generation, and environmental protection. Power generation segment of the wave energy market is growing rapidly because of the widespread adoption of renewable energy generation. Renewable and non-conventional sources of energy generation have gained momentum in recent years in line with several countries that are focusing on reducing their carbon footprint from power generation activities.
The nearshore segment is expected to grow at the highest CAGR from 2020 to 2025.
Wave energy market, by location, is segmented into onshore, nearshore and offshore installations. Nearshore segment is expected to be the largest and fastest-growing wave energy market, by location, during the forecast period. Nearshore installations have been happening in almost all the regions and is a preferred choice by manufacturers owing to the fact that these installations offer better efficiency than onshore ones and easier installations when compared with offshore locations.
Europe is expected to lead in the global wave energy market.
Europe is both the largest and the fastest-growing wave energy market, followed by North America and the Asia Pacific. It is expected in Europe that there will be maximum adoption and implementation of wave energy conversion devices owing to the presence of a large number of companies working in the research and development of wave energy converters. Major countries in this region include Germany, the UK, Spain, the Nordic Countries, and the Rest of Europe. Rest of Europe includes Ireland and Italy. The European region experiences cold ambient temperatures throughout the year simultaneously having high buying power. Both these factors lead to an increased demand for power, ultimately increasing the demand. To reduce carbon emissions from power generation activities, the countries are emphasizing on renewable technologies for power generation.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Wave Energy Market
4.2 European Wave Energy Converters Market, By Technology & Country
4.3 Wave Energy Market, By Technology
4.4 Wave Energy, By Location
4.5 Wave Energy Market, By Region
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Abundant Availability of Wave Energy Resource
5.2.1.2 Growing Demand for Power From Coastal Communities
5.2.2 Restraints
5.2.2.1 High Capex Investment
5.2.3 Opportunities
5.2.3.1 Increasing R&D Investment and Focus on Clean Energy Generation
5.2.3.2 Integration of Wave Energy with Other Renewable Energy Technologies
5.2.4 Challenges
5.2.4.1 Insufficient Infrastructure
5.2.4.2 Emphasis on Offshore Wind and Floating Solar
6 Wave Energy Market, By Technology
6.1 Introduction
6.2 Oscillating Water Column
6.2.1 Grid-Scale Generation Capability is Expected to Drive the Demand for Oscillating Water Column Type WEC
6.3 Oscillating Body Converters
6.3.1 Ease of Installation and High Efficiency are Expected to Drive the Market for Oscillating Body Type WEC
6.4 Overtopping Converters
6.4.1 Simple Construction and Ease of Operation is Expected to Drive the Demand for Overtopping WEC
7 Wave Energy Market, By Location
7.1 Introduction
7.2 Onshore
7.2.1 Economic Installation and Increasing Demand for Power From Coastal Population are Driving Onshore WEC Market
7.3 Near Shore
7.3.1 WEC Installation for Key Applications is a Major Driver for Near Shore WEC Segment
7.4 Offshore
7.4.1 Ability to Power Other Offshore Structures is Expected to Drive the Offshore WEC Segment
8 Wave Energy Market, By Application
8.1 Introduction
8.2 Desalination
8.2.1 Ease of Desalination of Sea Water By Wave Energy is Expected to Propel the Market
8.3 Power Generation
8.3.1 need of Reducing Carbon Emissions From Power Generation Activities is Expected to Drive the Demand
8.4 Environmental Protection
8.4.1 need for Reducing Coastal Erosion Form Sea Waves is Expected to Drive the Market
9 Wave Energy Market, By Region
9.1 Introduction
9.2 North America
9.2.1 Us
9.2.1.1 Growing Power Demand From the Coastal Areas is Driving the Market for Wave Energy
9.2.2 Canada
9.2.2.1 Increasing R&D on Wave Energy is Expected to Drive the Market in Canada
9.3 Europe
9.3.1 Spain
9.3.1.1 Growing Emphasis on Renewable Energy Generation is Expected to Drive the Market for Wave Energy
9.3.2 Germany
9.3.2.1 Ambitious Renewable Energy Targets and Emphasis on R&D are Expected to Drive the Wave Energy Market
9.3.3 Uk
9.3.3.1 Strong Focus on R&D and Renewable Energy is Expected to Drive the Wave Energy Market in the Uk
9.3.4 Nordic Countries
9.3.4.1 Augmented Testing of Emerging Technologies in the Renewable Energy Sector is Expected to Drive the Market
9.3.5 Rest of Europe
9.4 Asia Pacific
9.4.1 Australia
9.4.1.1 Increasing R&D on Desalination is Expected to Drive the Wave Energy Market
9.4.2 Japan
9.4.2.1 Ambitious Renewables Target is Expected to Drive the Market for Wave Energy
9.4.3 South Korea
9.4.3.1 Increasing R&D on Renewable Energy Generation is Expected to Drive the Market for Wave Energy
9.4.4 Rest of Asia Pacific
9.5 Rest of the World
10 Competitive Landscape
10.1 Overview
10.2 Competitive Leadership Mapping (Overall Market)
10.2.1 Visionary Leaders
10.2.2 Innovators
10.2.3 Dynamic Differentiators
10.2.4 Emerging Players
10.3 Market Share, 2019
10.4 Competitive Scenario
10.4.1 New Product Launches/ New Projects/ Project Enhancement
10.4.2 Partnerships & Collaborations
10.4.3 Joint Venture
11 Company Profile
11.1 Ocean Power Technologies
11.2 Eco Wave Power
11.3 Carnegie Clean Energy
11.4 Sinn Power
11.5 Amog Consulting
11.6 Nemos
11.7 Oceanenergy
11.8 Wave Swell
11.9 Aws Ocean Energy
11.10 Corpower Ocean
11.11 Limerick Wave
11.12 Arrecife Energy Systems
11.13 Accumulated Ocean Energy
11.14 Hann Ocean Energy
11.15 Aquanet Power
11.16 Fdn (Functional Design Netherlands)
11.17 Aw Energy
11.18 Wave for Energy
11.19 Tapered Channel Wave Energy
11.20 Sener
11.21 Wavec Offshore Renewables
For more information about this report visit https://www.researchandmarkets.com/r/my7ojt
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