The 2023-2028 World Outlook for Wave and Tidal Energy

The 2023-2028 World Outlook for Wave and Tidal Energy

This study covers the world outlook for wave and tidal energy across more than 190 countries. For each year reported, estimates are given for the latent demand, or potential industry earnings (P.I.E.), for the country in question (in millions of U.S. dollars), the percent share the country is of the region, and of the globe. These comparative benchmarks allow the reader to quickly gauge a country vis-à-vis others. Using econometric models which project fundamental economic dynamics within each country and across countries, latent demand estimates are created. This report does not discuss the specific players in the market serving the latent demand, nor specific details at the product level. The study also does not consider short-term cyclicalities that might affect realized sales. The study, therefore, is strategic in nature, taking an aggregate and long-run view, irrespective of the players or products involved.

In this report we define the sales of wave and tidal energy as including all commonly understood products and/or services falling within this broad category, such as frozen meals containing pasta and sauce, cheese, vegetables, or other ingredients excluding meat and which only require heating, irrespective of product packaging, formulation, size, or form. Companies participating in this industry include ANDRITZ HYDRO Hammerfest, Aquagen Technologies, Aquamarine Power, Atlantis Resources, AW-Energy, AWS Ocean Energy, BioPower Systems, Carnegie Clean Energy, CorPower Ocean AB, Kepler Energy, Ltd., MAKO Energy Pte, Ltd., Marine Current Turbines, Minesto, Nautricity, Ltd., Nova Innovation, Ocean Power Technologies, OpenHydro, Pelamis Wave Power, S.D.E Energy, Ltd. (Werpo), ScottishPower Renewables, Ltd., Seabased AB, Seatricity, Ltd., Simec Atlantis Energy, Tenax Energy, Tidal Energy, Ltd., Tocardo International, Trident Energy, Voith Hydro, Wave Dragon, and Wello. In addition to the sources indicated, additional information available to the public via news and/or press releases published by players in the industry was considered in defining and calibrating this category. All figures are in a common currency (U.S. dollars, millions) and are not adjusted for inflation (i.e., they are current values). Exchange rates used to convert to U.S. dollars are averages for the year in question. Future exchange rates are assumed to be constant in the future at the current level (the average of the year of this publication's release in 2022).