The Global Wave and Tidal Energy Market size is valued at around USD 483 million in 2023 and is estimated to grow at a CAGR of around 29.01% during the forecast period, i.e., 2024-30. According to MarkNtel Advisors Study.
Global Wave and Tidal Energy Market Driver:
Rising Investments to Drive the Market Growth in Wave and Tidal Energy Solutions – The growth of the Wave and Tidal Energy Market is being propelled by increased investments in clean energy sources from various nations, such as the US, China, and others. This surge in investment is driven by the desire to develop sustainable energy solutions, reduce dependence on imported fossil fuels, enhance energy security, and mitigate exposure to global energy market fluctuations. Consequently, governments are actively channeling funds into wave and tidal energy projects within their respective countries. For instance:
In 2023, the US Department of Energy (DOE) allocated USD 35 million in funding, made available through the Bipartisan Infrastructure Law, to advance tidal and river current energy systems.
These strategic investments in energy projects are fueling market growth and stimulating the demand for cleaner energy solutions in the foreseeable future.
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Key Market Reports Highlights
- Market Dimensions & Projections
- Pricing Evaluation
- Recent Strategic Moves by Companies
- Primary Stakeholders
- Import/Export Trend Analysis
- Competitive Landscape Assessment
- Emerging Opportunities
- Market Trends and Indicators
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Global Wave and Tidal Energy Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2023
-Historical Period: 2019 to 2022
-Forecast Period: 2024 to 2030
- By Type
- Wave Energy- Market Size & Forecast 2018-2028F, USD Million
- Tidal Energy- Market Size & Forecast 2018-2028F, USD Million
- By Application
- Power Generation- Market Size & Forecast 2018-2028F, USD Million
- Desalination- Market Size & Forecast 2018-2028F, USD Million
- By Technology
- Tidal Stream Generator- Market Size & Forecast 2018-2028F, USD Million
- Oscillating Water Columns- Market Size & Forecast 2018-2028F, USD Million
- Tidal Turbines- Market Size & Forecast 2018-2028F, USD Million
- Tidal Barrages- Market Size & Forecast 2018-2028F, USD Million
- Tidal Fences- Market Size & Forecast 2018-2028F, USD Million
- By Region
- North America
- South America
- Europe
- Middle East & Africa
- Asia-Pacific
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including – Aquagen Technologies, Pelamis Wave Power Ltd, Carnegie Wave Energy Ltd., Tenax Energy, SIMEC Atlantis Energy Ltd, Corpower Ocean AB, Mocean Energy, SSE, Ocean Energy, Eco Wave Power, Verdant Power Inc., SINN Power, Orbital Marine Power, Ricardo, Tacardo BV, and others are looking forward to strengthening their market positions.
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We follow a tried-and-tested research methodology that blends top-down and bottom-up approaches to deliver highly accurate market insights. Every report is powered by data triangulation, ensuring well-rounded and validated findings.
From smart sample selection and reliable data collection to in-depth analysis and precise forecasting, our process is designed to minimize error and maximize impact.
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