Global Wave and Tidal Energy Market 2024-2028

Global Wave And Tidal Energy Market 2024-2028


The wave and tidal energy market is forecasted to grow by USD 1398.86 mn during 2023-2028, accelerating at a CAGR of 29.47% during the forecast period. The report on the wave and tidal energy market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by rise in global energy demand, rising government support for adoption of renewable energy, and increase in investments in clean energy technologies.

Technavio's wave and tidal energy market is segmented as below:

By Application
  • Power generation
  • Desalination
By Type
  • Wave Energy
  • Tidal Energy
By Geographical Landscape
  • North America
  • Europe
  • APAC
  • South America
  • Middle East and Africa
This study identifies the rising popularity of clean energy technologies as one of the prime reasons driving the wave and tidal energy market growth during the next few years. Also, advancements in energy conversion technologies and growing focus on hybrid and multi-renewable energy systems will lead to sizable demand in the market.

The report on the wave and tidal energy market covers the following areas:
  • Wave and tidal energy market sizing
  • Wave and tidal energy market forecast
  • Wave and tidal energy market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading wave and tidal energy market vendors that include Andritz AG, Aquagen Technologies Inc., BioPower Systems Pty Ltd., Blue Energy Canada Inc., Carnegie Clean Energy Ltd., CorPower Ocean, Eco Wave Power Global AB, Mocean Energy Ltd., Nova Innovation Ltd., Ocean Power Technologies Inc., Ocean Renewable Power Co. Inc., Orbital Marine Power, Simec Atlantis Energy Ltd., SINN Power GmbH, SSE Plc, Storage and Display Equipment Ltd., Tenax Energy Solutions, TOCARDO B.V., Verdant Power Inc., and Wello Oy. Also, the wave and tidal energy market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.


  • Executive Summary
    • Market overview
      • Table Executive Summary – Chart on Market Overview
      • Table Executive Summary – Data Table on Market Overview
      • Table Executive Summary – Chart on Global Market Characteristics
      • Table Executive Summary – Chart on Market by Geography
      • Table Executive Summary – Chart on Market Segmentation by Application
      • Table Executive Summary – Chart on Market Segmentation by Type
      • Table Executive Summary – Chart on Incremental Growth
      • Table Executive Summary – Data Table on Incremental Growth
      • Table Executive Summary – Chart on Vendor Market Positioning
  • Market Landscape
    • Market ecosystem
      • Table Parent market
      • Table Market Characteristics
  • Market Sizing
    • Market definition
      • Table Offerings of vendors included in the market definition
    • Market segment analysis
      • Table Market segments
    • Market size 2023
    • Market outlook: Forecast for 2023-2028
      • Table Chart on Global - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on Global - Market size and forecast 2023-2028 ($ million)
      • Table Chart on Global Market: Year-over-year growth 2023-2028 (%)
      • Table Data Table on Global Market: Year-over-year growth 2023-2028 (%)
  • Historic Market Size
    • Global wave and tidal energy market 2018 - 2022
      • Table Historic Market Size – Data Table on global wave and tidal energy market 2018 - 2022 ($ million)
    • Application Segment Analysis 2018 - 2022
      • Table Historic Market Size – Application Segment 2018 - 2022 ($ million)
    • Type Segment Analysis 2018 - 2022
      • Table Historic Market Size – Type Segment 2018 - 2022 ($ million)
    • Geography Segment Analysis 2018 - 2022
      • Table Historic Market Size – Geography Segment 2018 - 2022 ($ million)
    • Country Segment Analysis 2018 - 2022
      • Table Historic Market Size – Country Segment 2018 - 2022 ($ million)
  • Five Forces Analysis
    • Five forces summary
      • Table Five forces analysis - Comparison between 2023 and 2028
    • Bargaining power of buyers
      • Table Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers – Impact of key factors in 2023 and 2028
    • Threat of new entrants
      • Table Threat of new entrants – Impact of key factors in 2023 and 2028
    • Threat of substitutes
      • Table Threat of substitutes – Impact of key factors in 2023 and 2028
    • Threat of rivalry
      • Table Threat of rivalry – Impact of key factors in 2023 and 2028
    • Market condition
      • Table Chart on Market condition - Five forces 2023 and 2028
  • Market Segmentation by Application
    • Market segments
      • Table Chart on Application - Market share 2023-2028 (%)
      • Table Data Table on Application - Market share 2023-2028 (%)
    • Comparison by Application
      • Table Chart on Comparison by Application
      • Table Data Table on Comparison by Application
    • Power generation - Market size and forecast 2023-2028
      • Table Chart on Power generation - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on Power generation - Market size and forecast 2023-2028 ($ million)
      • Table Chart on Power generation - Year-over-year growth 2023-2028 (%)
      • Table Data Table on Power generation - Year-over-year growth 2023-2028 (%)
    • Desalination - Market size and forecast 2023-2028
      • Table Chart on Desalination - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on Desalination - Market size and forecast 2023-2028 ($ million)
      • Table Chart on Desalination - Year-over-year growth 2023-2028 (%)
      • Table Data Table on Desalination - Year-over-year growth 2023-2028 (%)
    • Market opportunity by Application
      • Table Market opportunity by Application ($ million)
      • Table Data Table on Market opportunity by Application ($ million)
  • Market Segmentation by Type
    • Market segments
      • Table Chart on Type - Market share 2023-2028 (%)
      • Table Data Table on Type - Market share 2023-2028 (%)
    • Comparison by Type
      • Table Chart on Comparison by Type
      • Table Data Table on Comparison by Type
    • Wave Energy - Market size and forecast 2023-2028
      • Table Chart on Wave Energy - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on Wave Energy - Market size and forecast 2023-2028 ($ million)
      • Table Chart on Wave Energy - Year-over-year growth 2023-2028 (%)
      • Table Data Table on Wave Energy - Year-over-year growth 2023-2028 (%)
    • Tidal Energy - Market size and forecast 2023-2028
      • Table Chart on Tidal Energy - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on Tidal Energy - Market size and forecast 2023-2028 ($ million)
      • Table Chart on Tidal Energy - Year-over-year growth 2023-2028 (%)
      • Table Data Table on Tidal Energy - Year-over-year growth 2023-2028 (%)
    • Market opportunity by Type
      • Table Market opportunity by Type ($ million)
      • Table Data Table on Market opportunity by Type ($ million)
  • Customer Landscape
    • Customer landscape overview
      • Table Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
  • Geographic Landscape
    • Geographic segmentation
      • Table Chart on Market share by geography 2023-2028 (%)
      • Table Data Table on Market share by geography 2023-2028 (%)
    • Geographic comparison
      • Table Chart on Geographic comparison
      • Table Data Table on Geographic comparison
    • North America - Market size and forecast 2023-2028
      • Table Chart on North America - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on North America - Market size and forecast 2023-2028 ($ million)
      • Table Chart on North America - Year-over-year growth 2023-2028 (%)
      • Table Data Table on North America - Year-over-year growth 2023-2028 (%)
    • Europe - Market size and forecast 2023-2028
      • Table Chart on Europe - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on Europe - Market size and forecast 2023-2028 ($ million)
      • Table Chart on Europe - Year-over-year growth 2023-2028 (%)
      • Table Data Table on Europe - Year-over-year growth 2023-2028 (%)
    • APAC - Market size and forecast 2023-2028
      • Table Chart on APAC - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on APAC - Market size and forecast 2023-2028 ($ million)
      • Table Chart on APAC - Year-over-year growth 2023-2028 (%)
      • Table Data Table on APAC - Year-over-year growth 2023-2028 (%)
    • South America - Market size and forecast 2023-2028
      • Table Chart on South America - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on South America - Market size and forecast 2023-2028 ($ million)
      • Table Chart on South America - Year-over-year growth 2023-2028 (%)
      • Table Data Table on South America - Year-over-year growth 2023-2028 (%)
    • Middle East and Africa - Market size and forecast 2023- 2028
      • Table Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
      • Table Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
      • Table Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
    • US - Market size and forecast 2023-2028
      • Table Chart on US - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on US - Market size and forecast 2023-2028 ($ million)
      • Table Chart on US - Year-over-year growth 2023-2028 (%)
      • Table Data Table on US - Year-over-year growth 2023-2028 (%)
    • UK - Market size and forecast 2023-2028
      • Table Chart on UK - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on UK - Market size and forecast 2023-2028 ($ million)
      • Table Chart on UK - Year-over-year growth 2023-2028 (%)
      • Table Data Table on UK - Year-over-year growth 2023-2028 (%)
    • China - Market size and forecast 2023-2028
      • Table Chart on China - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on China - Market size and forecast 2023-2028 ($ million)
      • Table Chart on China - Year-over-year growth 2023-2028 (%)
      • Table Data Table on China - Year-over-year growth 2023-2028 (%)
    • France - Market size and forecast 2023-2028
      • Table Chart on France - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on France - Market size and forecast 2023-2028 ($ million)
      • Table Chart on France - Year-over-year growth 2023-2028 (%)
      • Table Data Table on France - Year-over-year growth 2023-2028 (%)
    • Canada - Market size and forecast 2023-2028
      • Table Chart on Canada - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on Canada - Market size and forecast 2023-2028 ($ million)
      • Table Chart on Canada - Year-over-year growth 2023-2028 (%)
      • Table Data Table on Canada - Year-over-year growth 2023-2028 (%)
    • Market opportunity by geography
      • Table Market opportunity by geography ($ million)
      • Table Data Tables on Market opportunity by geography ($ million)
  • Drivers, Challenges, and Trends
    • Market drivers
      • Rise in global energy demand
      • Rising government support for adoption of renewable energy
    • Market challenges
      • High capital costs associated with wave and tidal energy projects
      • Technological complexities associated with implementation of wave and tidal energy
    • Impact of drivers and challenges
      • Table Impact of drivers and challenges in 2023 and 2028
    • Market trends
      • Rising popularity of clean energy technologies
      • Advancements in energy conversion technologies
  • Vendor Landscape
    • Overview
    • Vendor landscape
      • Table Overview on Criticality of inputs and Factors of differentiation
    • Landscape disruption
      • Table Overview on factors of disruption
    • Industry risks
      • Table Impact of key risks on business
  • Vendor Analysis
    • Vendors covered
      • Table Vendors covered
    • Market positioning of vendors
      • Table Matrix on vendor position and classification
    • Aquagen Technologies Inc.
      • Table Aquagen Technologies Inc. - Overview
      • Table Aquagen Technologies Inc. - Product / Service
      • Table Aquagen Technologies Inc. - Key offerings
    • Carnegie Clean Energy Ltd.
      • Table Carnegie Clean Energy Ltd. - Overview
      • Table Carnegie Clean Energy Ltd. - Product / Service
      • Table Carnegie Clean Energy Ltd. - Key offerings
    • CorPower Ocean
      • Table CorPower Ocean - Overview
      • Table CorPower Ocean - Product / Service
      • Table CorPower Ocean - Key offerings
    • Eco Wave Power Global AB
      • Table Eco Wave Power Global AB - Overview
      • Table Eco Wave Power Global AB - Product / Service
      • Table Eco Wave Power Global AB - Key offerings
    • Mocean Energy Ltd.
      • Table Mocean Energy Ltd. - Overview
      • Table Mocean Energy Ltd. - Product / Service
      • Table Mocean Energy Ltd. - Key offerings
    • Nova Innovation Ltd.
      • Table Nova Innovation Ltd. - Overview
      • Table Nova Innovation Ltd. - Product / Service
      • Table Nova Innovation Ltd. - Key offerings
    • Ocean Power Technologies Inc.
      • Table Ocean Power Technologies Inc. - Overview
      • Table Ocean Power Technologies Inc. - Product / Service
      • Table Ocean Power Technologies Inc. - Key offerings
    • Ocean Renewable Power Co. Inc.
      • Table Ocean Renewable Power Co. Inc. - Overview
      • Table Ocean Renewable Power Co. Inc. - Product / Service
      • Table Ocean Renewable Power Co. Inc. - Key offerings
    • Orbital Marine Power
      • Table Orbital Marine Power - Overview
      • Table Orbital Marine Power - Product / Service
      • Table Orbital Marine Power - Key offerings
    • Simec Atlantis Energy Ltd.
      • Table Simec Atlantis Energy Ltd. - Overview
      • Table Simec Atlantis Energy Ltd. - Product / Service
      • Table Simec Atlantis Energy Ltd. - Key offerings
    • SINN Power GmbH
      • Table SINN Power GmbH - Overview
      • Table SINN Power GmbH - Product / Service
      • Table SINN Power GmbH - Key offerings
    • Storage and Display Equipment Ltd.
      • Table Storage and Display Equipment Ltd. - Overview
      • Table Storage and Display Equipment Ltd. - Product / Service
      • Table Storage and Display Equipment Ltd. - Key offerings
    • Tenax Energy Solutions
      • Table Tenax Energy Solutions - Overview
      • Table Tenax Energy Solutions - Product / Service
      • Table Tenax Energy Solutions - Key offerings
    • Verdant Power Inc.
      • Table Verdant Power Inc. - Overview
      • Table Verdant Power Inc. - Product / Service
      • Table Verdant Power Inc. - Key offerings
    • Wello Oy
      • Table Wello Oy - Overview
      • Table Wello Oy - Product / Service
      • Table Wello Oy - Key offerings
  • Appendix
    • Scope of the report
      • Market definition
      • Objectives
      • Notes and caveats
    • Inclusions and exclusions checklist
      • Table Inclusions checklist
      • Table Exclusions checklist
    • Currency conversion rates for US$
      • Table Currency conversion rates for US$
    • Research methodology
      • Table Research methodology
      • Table Validation techniques employed for market sizing
      • Table Information sources
    • List of abbreviations
      • Table List of abbreviations

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