Wave and Tidal Energy Market to Register 33.2% CAGR during 2021-2028; Nova Innovations Collaborates with Sabella to Rapidly Scale Up Capacity Europe to Stimulate Growth: Fortune Business Insights

Companies in the Wave and Tidal Energy Market are Aquamarine Power (U.K.) SSE Renewables (U.K.) Wello Oy (Finland) SINN Power GmbH (Germany) OceanEnergy (Ireland) Ocean Power Technologies (U.S.) Ocean Renewable Power Company (U.S.) Orbital Marine Power (Scotland) Tacardo B.V (Netherlands) SIMEC Atlantis Energy (U.K.) Tidal Lagoon Plc (U.K.) Nova Innovations (Scotland) Andritz Hydro Hammerfest (Austria) Tenax Energy (Australia)

Pune INDIA


Pune, India, Feb. 14, 2022 (GLOBE NEWSWIRE) -- The Global Wave and Tidal Energy Market size was USD 0.47 billion in 2020. The market is projected to grow from USD 0.59 billion in 2021 to USD 4.41 billion by 2028 at a CAGR of 33.2% during the 2021-2028 period. This information is provided by Fortune Business Insights, in its report, titled, “Wave and Tidal Energy Market, 2021-2028.”

According to our researchers, increased investment in the construction of wave and tidal energy-related power projects is a major trend in the sector. Numerous countries are investing in cleaner energy sources due to the limited availability of conventional fuels, such as oil, gas, and coal, and pollution, connected with their consumption. These renewable energy sources are abundant in nature and environmentally benign. Attributed to such benefits, there has been a rise in investment in such projects.

Get Sample Brochure for More Details @ https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/wave-and-tidal-energy-market-100584

Companies Operating in Wave and Tidal Energy Market

  • Eco Wave Power (Sweden)
  • CorPower Ocean AB (Sweden)
  • Mocean Energy (Scotland)
  • Aquamarine Power (U.K.)
  • SSE Renewables (U.K.)
  • Wello Oy (Finland)
  • SINN Power GmbH (Germany)
  • OceanEnergy (Ireland)
  • Ocean Power Technologies (U.S.)
  • Ocean Renewable Power Company (U.S.)
  • Orbital Marine Power (Scotland)
  • Tacardo B.V (Netherlands)
  • SIMEC Atlantis Energy (U.K.)
  • Tidal Lagoon Plc (U.K.)
  • Nova Innovations (Scotland)
  • Andritz Hydro Hammerfest (Austria)
  • Tenax Energy (Australia)

Report Scope & Segmentation

Report CoverageDetails
Forecast Period2021 to 2028
Forecast Period 2021 to 2028 CAGR33.2 %
2028 Value ProjectionUSD 4.41 Billion
Base Year2020
Market Size in 2020USD 0.47 Billion
Historical Data for2017 to 2019
No. of Pages180
Segments coveredTechnology, Application, and Region
Growth DriversTechnological Advancements to Foster Market Growth
Companies to Focus on R&D Investments to Offer Advanced Products









Speak To Our Analyst of this Report @ https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/wave-and-tidal-energy-market-100584

COVID-19 Impacts:

Supply Chain Disruption to Hamper Wave and Tidal Energy Market Growth         

COVID-19 is an unprecedented global public health crisis that has impacted practically every business, and its long-term repercussions are expected to have an influence on industry growth during the forecast period. The growing popularity of renewable energy sources has demonstrated its resiliency, and it is this element that will surge the demand for wave and tidal energy technology in the coming years. Our continuous study is enhancing our research approach to guarantee that fundamental COVID-19 concerns and potential solutions are included.

To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/wave-and-tidal-energy-market-100584

Segments:

Technology, Application, and Region are studied for the Market

By technology, the market is segmented into wave energy, tidal energy, and others.

Based on application, the market is fragmented into power generation, desalination, and others.

Finally, by geography, the market is divided into Europe, North America, and Asia Pacific.

Report Coverage:

The report includes detailed information on developing trends, market drivers, development opportunities, and market restraints that may affect the industry's market conditions. It consists of new product development, market innovation, regions, and industry development. By dividing the global market into region-wise assessments, the report aims to examine the present and future growth possibilities. The report further offers an estimated wave and tidal energy market share, size as well as growth rate.

Drivers and Restraints:

Technological Advancements to Foster Market Growth

Due to increasing depletion of fossil fuels and rising environmental concerns, the renewable energy sector is accelerating, owing to technology advancements, development goals, and other factors. The government, supported with the requisite infrastructure and resources, looks beyond the entire energy supply for cost-effective and scalable alternatives. The U.K., on the other hand, launched clean growth policies that include cost reduction in technology, decrease in carbon emissions, and development of leading technologies to assess the potential of a new source of energy. Several technologies have stood out for their relevance in lowering carbon emissions, including wind energy, solar energy, wave and tidal energy, and others.

Regional Insights:

The market in the U.K. is expected to grow at a high rate during the projected period. Renewable energy is obtaining a higher market share in Europe and is expected to propel industry expansion in the region. The U.K. has the most extensive historical deployment of wave and tidal energy devices, and the European Marine Energy Center has reached a new milestone (EMEC). Furthermore, the European Marine Energy Center (EMEC) is the largest venue for wave energy projects and has housed a significant number of wave energy companies on the verge of commercialization.

North American countries are focusing their efforts on realizing prospects in marine renewable energy through collaboration between industry, research institutions, and government. Furthermore, support for wave and tidal developers has grown, and the sector is gradually growing.

India and China, for example, are working to help the demonstration and implementation of wave and tidal energy projects throughout Asia Pacific.

Ask for Customization of this Report@ https://www.fortunebusinessinsights.com/enquiry/customization/wave-and-tidal-energy-market-100584

Competitive Landscape:

Companies to Focus on R&D Investments to Offer Advanced Products

Mergers, acquisitions, joint ventures, and collaborations by significant organizations serve to consolidate the bases of the players in the market. Attributed the increasing awareness of environmental conservation around the world, companies are working on providing renewable energy sources.

Industry Developments:

June 2021: In a Memorandum of Understanding (MoU), Nova Innovations and Sabella have teamed up to create tidal energy projects in the U.K. and France. The agreement will speed up the development of tidal energy sites for Scottish and French enterprises, and the expansion of tidal energy installation capacity in both the U.K. and France.

Major Table of Contents:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Key Emerging Trends – For Major Countries
    • Latest Technological Advancement
    • Insight on Regulatory Landscape
    • Industry SWOT Analysis
    • Porters Five Forces Analysis
  • Qualitative Analysis – Impact of COVID-19
    • Impact of COVID-19 on the Wave & Tidal Energy Market
    • Steps Taken by the Government to Overcome the Impact
    • Key Developments in the Industry in Response to COVID-19
    • Potential Opportunities and Challenges due to COVID-19 Outbreak
  • Global Wave and Tidal Energy Market Analysis (USD Billion) (MW), Insights and Forecast, 2017-2028
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Technology
      • Wave Energy
        • Oscillating Water Columns
        • Oscillating Body Convertors
        • Others
      • Tidal Energy
        • Tidal Turbine
        • Tidal Barrages
        • Others
    • Market Analysis, Insights and Forecast – By Application
      • Power Generation
      • Desalination
      • Others
    • Market Analysis, Insights and Forecast – By Region
      • North America
      • Europe
      • Asia Pacific
  • North America Wave and Tidal Energy Market Analysis (USD Billion) (MW), Insights and Forecast, 2017-2028
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Technology
      • Wave Energy
        • Oscillating Water Columns
        • Oscillating Body Convertors
        • Others
      • Tidal Energy
        • Tidal Turbine
        • Tidal Barrages
        • Others
    • Market Analysis, Insights and Forecast – By Application
      • Power Generation
      • Desalination
      • Others
    • Market Analysis, Insights and Forecast – By Country
      • US
      • Canada

TOC Continued…!

Quick Buy - Wave and Tidal Energy Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/100584

Have a Look at Related Research Insights:

Gas Turbine Market Size, Share & COVID-19 Impact Analysis, By Capacity (1-2MW, 2-5MW, 5-7.5MW, 7.5-10MW, 10-15MW, 15-20MW, 20-30MW, 30-40MW, 40-100MW, 100-150MW, 150-300MW, and 300+MW), By Technology (Heavy Duty, Light Industrial, and Aeroderivative), By Cycle (Simple Cycle and Combined Cycle), By Sector (Power Utility, Oil & Gas, Manufacturing, Aviation, and Others), and Regional Forecasts 2021-2028

Propane Market Size, Share and Global Trend by Application (Residential, Commercial, Industrial, Agriculture, Transportation, Chemicals), And Geography Forecast Till 2022-2029

Frameless Solar Panel Market Size, Share and Global Trend by Type (Monocrystalline Solar Panels, Polycrystalline Solar Panels, Thin-film Solar Panels), By Application (Residential, Commercial) and By Geography Forecast till 2022-2029

Intelligent Pump Market Size, Share and Global Trend by Type (Centrifugal Pump, Positive Displacement Pump), By Component (Pumps, Variable Drives, Control System, Others), By End User (Oil & Gas, Power Generation, Water & Wastewater, Chemical, Others) and Geography Forecast Till 2022-2029

Overhead Conductor Market Size, Share and Global Trend by Material (Copper Conductor, AAC: All Aluminium Conductor, AAAC: All Aluminium Alloy Conductor, ACSR: Aluminium Conductor, Steel Reinforced, ACAR: Aluminium Conductor, Alloy Reinforced, Others), By Voltage (Low Voltage, Medium Voltage, High Voltage), By Application (Power Distribution, Railways) and Geography Forecast till 2022-2029

About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

308, Supreme Headquarters,

Survey No. 36, Baner,

Pune-Bangalore Highway,

Pune - 411045, Maharashtra, India.

Phone:

US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Email: sales@fortunebusinessinsights.com

LinkedIn: https://www.linkedin.com/company/fortune-business-insights

Facebook: https://www.facebook.com/FortuneBusinessInsightsPvtLtd