Wave and Tidal Energy Market Share, Size, Trends, Industry Analysis Report, By Type (Wave Energy and Tidal Energy); By Application; By Technology; By Region; Segment Forecast, 2022-2030

Wave and Tidal Energy Market Share, Size, Trends, Industry Analysis Report, By Type (Wave Energy and Tidal Energy); By Application; By Technology; By Region; Segment Forecast, 2022-2030

The global wave and tidal energy market size are expected to reach USD 4,541.8 million by 2030, according to a new study by Polaris Market Research. The report “Wave and Tidal Energy Market Share, Size, Trends, Industry Analysis Report, By Type (Wave Energy and Tidal Energy); By Application; By Technology; By Region; Segment Forecast, 2022-2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Continuously growing penetration of renewable energy sources & fast depletion of non-renewable energy sources driving the market forward. To exploit ocean energy systems favorable legislation is required, in line with this, the Australian government in 2021, introduced the “Offshore Electricity Infrastructure Bill” to develop ocean energy technologies. Moreover, effective policies, public and private investments are also needed for the inclusive and sustainable future of energy systems that drives the market.

Moreover, an increasing number of wave power plants developed across the developed economies are expected to favor market growth. For instance, in April 2022, EcoWave Power, a producer of electricity from ocean waves, announced its plans to build tidal energy power plants with a capacity of up to 2 megawatts in Spain.

The market is a relatively underexplored technology of renewable power generation, and many companies across the globe are still working on their pilot projects, and numerous researchers are focusing on different parameters corresponding to the viability and ways to bring down the cost without compromising efficiency, which is likely to impact the global market.

According to a report published by European Marine Energy Center, in October 2022, WEDUSEA, a collaboration that includes 14 partners from academia and industry with a funding of USD 19.3 million is set to last for four years. In its initial phase, the project is concentrating on the designing of OE35, 1-megawatt version, and is coordinated by OceanEnergy.

Wave and Tidal Energy Market Report Highlight

  • Tidal energy accounted to have significant growth of global revenue share in 2021 due to rapid increase in awareness about green energy and acceptance of tidal energy as a sustainable alternative to fossil fuels
  • Power generation segment held the largest market share in 2021 on account of the growing consumption of electrical power and technological development in power generation processes
  • Tidal stream generator segment is expected to grow fastest during the projected period, which is mainly attributed to growth in tidal energy infrastructure
  • Asia Pacific region dominated the global market, which is mainly attributed to environmental regulations, several government policies, and increasing focus on technological advancements to enhance the power generation methods
  • The global key market players include Eco Wave Power, Aquamarine Power, SINN Power GmbH, SIMEC Atlantis Energy, Andritz Hydro Hammerfest, and Verdant Power Inc.

  • Polaris Market Research has segmented the wave and tidal energy market report based on type, application, technology, and region:

    Wave and Tidal Energy, Type Outlook (Revenue – USD Million, 2018 – 2030)
  • Wave Energy
  • Tidal Energy

  • Wave and Tidal Energy, Application Outlook (Revenue – USD Million, 2018 – 2030)
  • Power Generation
  • Desalination

  • Wave and Tidal Energy, Technology Outlook (Revenue – USD Million, 2018 – 2030)
  • Tidal Stream Generator
  • Oscillating Water Columns
  • Tidal Turbines
  • Tidal barrages
  • Tidal Fences

  • Wave and Tidal Energy, Regional Outlook (Revenue – USD Million, 2018 – 2030)
  • North America
  • U.S
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

  • 1. Introduction
    1.1. Report Description
    1.1.1. Objectives of the Study
    1.1.2. Market Scope
    1.1.3. Assumptions
    1.2. Stakeholders
    2. Executive Summary
    2.1. Market Highlights
    3. Research Methodology
    3.1. Overview
    3.1.1. Data Mining
    3.2. Data Sources
    3.2.1. Primary Sources
    3.2.2. Secondary Sources
    4. Global Wave and Tidal Energy Market Insights
    4.1. Wave and Tidal Energy – Industry Snapshot
    4.2. Wave and Tidal Energy Market Dynamics
    4.2.1. Drivers and Opportunities
    4.2.1.1. High technological advancements
    4.2.1.2. Rising funding by public and private sectors
    4.2.2. Restraints and Challenges
    4.2.2.1. High cost
    4.3. Porter’s Five Forces Analysis
    4.3.1. Bargaining Power of Suppliers (Moderate)
    4.3.2. Threats of New Entrants: (Low)
    4.3.3. Bargaining Power of Buyers (Moderate)
    4.3.4. Threat of Substitute (Moderate)
    4.3.5. Rivalry among existing firms (High)
    4.4. PESTEL Analysis
    4.5. Wave and Tidal Energy Market Industry Trends
    4.6. Value Chain Analysis
    4.7. COVID-19 Impact Analysis
    5. Global Wave and Tidal Energy Market, by Type
    5.1. Key Findings
    5.2. Introduction
    5.2.1. Global Wave and Tidal Energy Market, by Type, 2018 - 2030 (USD Million)
    5.3. Wave Energy
    5.3.1. Global Wave and Tidal Energy Market, by Wave Energy, by Region, 2018 - 2030 (USD Million)
    5.4. Tidal Energy
    5.4.1. Global Wave and Tidal Energy Market, by Tidal Energy, by Region, 2018 - 2030 (USD Million)
    6. Global Wave and Tidal Energy Market, by Application
    6.1. Key Findings
    6.2. Introduction
    6.2.1. Global Wave and Tidal Energy Market, by Application, 2018 - 2030 (USD Million)
    6.3. Power Generation
    6.3.1. Global Wave and Tidal Energy Market, by Power Generation, by Region, 2018 - 2030 (USD Million)
    6.4. Desalination
    6.4.1. Global Wave and Tidal Energy Market, by Desalination, by Region, 2018 - 2030 (USD Million)
    7. Global Wave and Tidal Energy Market, by Technology
    7.1. Key Findings
    7.2. Introduction
    7.2.1. Global Wave and Tidal Energy Market, by Technology, 2018 - 2030 (USD Million)
    7.3. Tidal Stream Generator
    7.3.1. Global Wave and Tidal Energy Market, by Tidal Stream Generator, by Region, 2018 - 2030 (USD Million)
    7.4. Oscillating Water Columns
    7.4.1. Global Wave and Tidal Energy Market, by Oscillating Water Columns, by Region, 2018 - 2030 (USD Million)
    7.5. Tidal Turbines
    7.5.1. Global Wave and Tidal Energy Market, by Tidal Turbines, by Region, 2018 - 2030 (USD Million)
    7.6. Tidal Barrages
    7.6.1. Global Wave and Tidal Energy Market, by Tidal Barrages, by Region, 2018 - 2030 (USD Million)
    7.7. Tidal Fences
    7.7.1. Global Wave and Tidal Energy Market, by Tidal Fences, by Region, 2018 - 2030 (USD Million)
    8. Global Wave and Tidal Energy Market, by Geography
    8.1. Key findings
    8.2. Introduction
    8.2.1. Wave and Tidal Energy Market Assessment, By Geography, 2018 - 2030 (USD Million)
    8.3. Wave and Tidal Energy Market – North America
    8.3.1. North America: Wave and Tidal Energy Market, by Type, 2018 - 2030 (USD Million)
    8.3.2. North America: Wave and Tidal Energy Market, by Technology, 2018 - 2030 (USD Million)
    8.3.3. North America: Wave and Tidal Energy Market, by Application, 2018 - 2030 (USD Million)
    8.3.4. Wave and Tidal Energy Market – U.S.
    8.3.4.1. U.S.: Wave and Tidal Energy Market, by Type, 2018 - 2030 (USD Million)
    8.3.4.2. U.S.: Wave and Tidal Energy Market, by Technology, 2018 - 2030 (USD Million)
    8.3.4.3. U.S.: Wave and Tidal Energy Market, by Application, 2018 - 2030 (USD Million)
    8.3.5. Wave and Tidal Energy Market – Canada
    8.3.5.1. Canada: Wave and Tidal Energy Market, by Type, 2018 - 2030 (USD Million)
    8.3.5.2. Canada.: Wave and Tidal Energy Market, by Technology, 2018 - 2030 (USD Million)
    8.3.5.3. Canada: Wave and Tidal Energy Market, by Application, 2018 - 2030 (USD Million)
    8.4. Wave and Tidal Energy Market – Europe
    8.4.1. Europe: Wave and Tidal Energy Market, by Type, 2018 - 2030 (USD Million)
    8.4.2. Europe.: Wave and Tidal Energy Market, by Technology, 2018 - 2030 (USD Million)
    8.4.3. Europe: Wave and Tidal Energy Market, by Application, 2018 - 2030 (USD Million)
    8.4.4. Wave and Tidal Energy Market – UK
    8.4.4.1. UK: Wave and Tidal Energy Market, by Type, 2018 - 2030 (USD Million)
    8.4.4.2. UK.: Wave and Tidal Energy Market, by Technology, 2018 - 2030 (USD Million)
    8.4.4.3. UK: Wave and Tidal Energy Market, by Application, 2018 - 2030 (USD Million)
    8.4.5. Wave and Tidal Energy Market – France
    8.4.5.1. France: Wave and Tidal Energy Market, by Type, 2018 - 2030 (USD Million)
    8.4.5.2. France.: Wave and Tidal Energy Market, by Technology, 2018 - 2030 (USD Million)
    8.4.5.3. France: Wave and Tidal Energy Market, by Application, 2018 - 2030 (USD Million)
    8.4.6. Wave and Tidal Energy Market – Germany
    8.4.6.1. Germany: Wave and Tidal Energy Market, by Type, 2018 - 2030 (USD Million)
    8.4.6.2. Germany.: Wave and Tidal Energy Market, by Technology, 2018 - 2030 (USD Million)
    8.4.6.3. Germany: Wave and Tidal Energy Market, by Application, 2018 - 2030 (USD Million)
    8.4.7. Wave and Tidal Energy Market – Italy
    8.4.7.1. Italy: Wave and Tidal Energy Market, by Type, 2018 - 2030 (USD Million)
    8.4.7.2. Italy.: Wave and Tidal Energy Market, by Technology, 2018 - 2030 (USD Million)
    8.4.7.3. Italy: Wave and Tidal Energy Market, by Application, 2018 - 2030 (USD Million)
    8.4.8. Wave and Tidal Energy Market – Spain
    8.4.8.1. Spain: Wave and Tidal Energy Market, by Type, 2018 - 2030 (USD Million)
    8.4.8.2. Spain.: Wave and Tidal Energy Market, by Technology, 2018 - 2030 (USD Million)
    8.4.8.3. Spain: Wave and Tidal Energy Market, by Application, 2018 - 2030 (USD Million)
    8.4.9. Wave and Tidal Energy Market – Netherlands
    8.4.9.1. Netherlands: Wave and Tidal Energy Market, by Type, 2018 - 2030 (USD Million)
    8.4.9.2. Netherlands.: Wave and Tidal Energy Market, by Technology, 2018 - 2030 (USD Million)
    8.4.9.3. Netherlands: Wave and Tidal Energy Market, by Application, 2018 - 2030 (USD Million)
    8.4.10. Wave and Tidal Energy Market – Russia
    8.4.10.1. Russia: Wave and Tidal Energy Market, by Type, 2018 - 2030 (USD Million)
    8.4.10.2. Russia.: Wave and Tidal Energy Market, by Technology, 2018 - 2030 (USD Million)
    8.4.10.3. Russia: Wave and Tidal Energy Market, by Application, 2018 - 2030 (USD Million)
    8.5. Wave and Tidal Energy Market – Asia Pacific
    8.5.1. Asia Pacific: Wave and Tidal Energy Market, by Type, 2018 - 2030 (USD Million)
    8.5.2. Asia Pacific.: Wave and Tidal Energy Market, by Technology, 2018 - 2030 (USD Million)
    8.5.3. Asia Pacific: Wave and Tidal Energy Market, by Application, 2018 - 2030 (USD Million)
    8.5.4. Wave and Tidal Energy Market – China
    8.5.4.1. China: Wave and Tidal Energy Market, by Type, 2018 - 2030 (USD Million)
    8.5.4.2. China.: Wave and Tidal Energy Market, by Technology, 2018 - 2030 (USD Million)
    8.5.4.3. China: Wave and Tidal Energy Market, by Application, 2018 - 2030 (USD Million)
    8.5.5. Wave and Tidal Energy Market – India
    8.5.5.1. India: Wave and Tidal Energy Market, by Type, 2018 - 2030 (USD Million)
    8.5.5.2. India.: Wave and Tidal Energy Market, by Technology, 2018 - 2030 (USD Million)
    8.5.5.3. India: Wave and Tidal Energy Market, by Application, 2018 - 2030 (USD Million)
    8.5.6. Wave and Tidal Energy Market – Malaysia
    8.5.6.1. Malaysia: Wave and Tidal Energy Market, by Type, 2018 - 2030 (USD Million)
    8.5.6.2. Malaysia.: Wave and Tidal Energy Market, by Technology, 2018 - 2030 (USD Million)
    8.5.6.3. Malaysia: Wave and Tidal Energy Market, by Application, 2018 - 2030 (USD Million)
    8.5.7. Wave and Tidal Energy Market – Japan
    8.5.7.1. Japan: Wave and Tidal Energy Market, by Type, 2018 - 2030 (USD Million)
    8.5.7.2. Japan.: Wave and Tidal Energy Market, by Technology, 2018 - 2030 (USD Million)
    8.5.7.3. Japan: Wave and Tidal Energy Market, by Application, 2018 - 2030 (USD Million)
    8.5.8. Wave and Tidal Energy Market – Indonesia
    8.5.8.1. Indonesia: Wave and Tidal Energy Market, by Type, 2018 - 2030 (USD Million)
    8.5.8.2. Indonesia.: Wave and Tidal Energy Market, by Technology, 2018 - 2030 (USD Million)
    8.5.8.3. Indonesia: Wave and Tidal Energy Market, by Application, 2018 - 2030 (USD Million)
    8.5.9. Wave and Tidal Energy Market – South Korea
    8.5.9.1. South Korea: Wave and Tidal Energy Market, by Type, 2018 - 2030 (USD Million)
    8.5.9.2. South Korea.: Wave and Tidal Energy Market, by Technology, 2018 - 2030 (USD Million)
    8.5.9.3. South Korea: Wave and Tidal Energy Market, by Application, 2018 - 2030 (USD Million)
    8.6. Wave and Tidal Energy Market – Middle East & Africa
    8.6.1. Middle East & Africa: Wave and Tidal Energy Market, by Type, 2018 - 2030 (USD Million)
    8.6.2. Middle East & Africa.: Wave and Tidal Energy Market, by Technology, 2018 - 2030 (USD Million)
    8.6.3. Middle East & Africa: Wave and Tidal Energy Market, by Application, 2018 - 2030 (USD Million)
    8.6.4. Wave and Tidal Energy Market – Saudi Arabia
    8.6.4.1. Saudi Arabia: Wave and Tidal Energy Market, by Type, 2018 - 2030 (USD Million)
    8.6.4.2. Saudi Arabia.: Wave and Tidal Energy Market, by Technology, 2018 - 2030 (USD Million)
    8.6.4.3. Saudi Arabia: Wave and Tidal Energy Market, by Application, 2018 - 2030 (USD Million)
    8.6.5. Wave and Tidal Energy Market – UAE
    8.6.5.1. UAE: Wave and Tidal Energy Market, by Type, 2018 - 2030 (USD Million)
    8.6.5.2. UAE.: Wave and Tidal Energy Market, by Technology, 2018 - 2030 (USD Million)
    8.6.5.3. UAE: Wave and Tidal Energy Market, by Application, 2018 - 2030 (USD Million)
    8.6.6. Wave and Tidal Energy Market – Israel
    8.6.6.1. Israel: Wave and Tidal Energy Market, by Type, 2018 - 2030 (USD Million)
    8.6.6.2. Israel.: Wave and Tidal Energy Market, by Technology, 2018 - 2030 (USD Million)
    8.6.6.3. Israel: Wave and Tidal Energy Market, by Application, 2018 - 2030 (USD Million)
    8.6.7. Wave and Tidal Energy Market – South Africa
    8.6.7.1. South Africa: Wave and Tidal Energy Market, by Type, 2018 - 2030 (USD Million)
    8.6.7.2. South Africa.: Wave and Tidal Energy Market, by Technology, 2018 - 2030 (USD Million)
    8.6.7.3. South Africa: Wave and Tidal Energy Market, by Application, 2018 - 2030 (USD Million)
    8.7. Wave and Tidal Energy Market – Latin America
    8.7.1. Latin America: Wave and Tidal Energy Market, by Type, 2018 - 2030 (USD Million)
    8.7.2. Latin America.: Wave and Tidal Energy Market, by Technology, 2018 - 2030 (USD Million)
    8.7.3. Latin America: Wave and Tidal Energy Market, by Application, 2018 - 2030 (USD Million)
    8.7.4. Wave and Tidal Energy Market – Mexico
    8.7.4.1. Mexico: Wave and Tidal Energy Market, by Type, 2018 - 2030 (USD Million)
    8.7.4.2. Mexico.: Wave and Tidal Energy Market, by Technology, 2018 - 2030 (USD Million)
    8.7.4.3. Mexico: Wave and Tidal Energy Market, by Application, 2018 - 2030 (USD Million)
    8.7.5. Wave and Tidal Energy Market – Brazil
    8.7.5.1. Brazil: Wave and Tidal Energy Market, by Type, 2018 - 2030 (USD Million)
    8.7.5.2. Brazil.: Wave and Tidal Energy Market, by Technology, 2018 - 2030 (USD Million)
    8.7.5.3. Brazil: Wave and Tidal Energy Market, by Application, 2018 - 2030 (USD Million)
    8.7.6. Wave and Tidal Energy Market – Argentina
    8.7.6.1. Argentina: Wave and Tidal Energy Market, by Type, 2018 - 2030 (USD Million)
    8.7.6.2. Argentina.: Wave and Tidal Energy Market, by Technology, 2018 - 2030 (USD Million)
    8.7.6.3. Argentina: Wave and Tidal Energy Market, by Application, 2018 - 2030 (USD Million)
    9. Competitive Landscape
    9.1. Expansion and Acquisition Analysis
    9.1.1. Expansion
    9.1.2. Acquisitions
    9.2. Partnerships/Collaborations/Agreements/Exhibitions
    10. Company Profiles
    10.1. Eco Wave Power
    10.1.1. Company Overview
    10.1.2. Financial Performance
    10.1.3. Product Benchmarking
    10.1.4. Recent Development
    10.2. Mocean Energy
    10.2.1. Company Overview
    10.2.2. Financial Performance
    10.2.3. Product Benchmarking
    10.2.4. Recent Development
    10.3. Aquamarine Power
    10.3.1. Company Overview
    10.3.2. Financial Performance
    10.3.3. Product Benchmarking
    10.3.4. Recent Development
    10.4. SSE Renewables
    10.4.1. Company Overview
    10.4.2. Financial Performance
    10.4.3. Product Benchmarking
    10.4.4. Recent Development
    10.5. Wello Oy
    10.5.1. Company Overview
    10.5.2. Financial Performance
    10.5.3. Product Benchmarking
    10.5.4. Recent Development
    10.6. SINN Power
    10.6.1. Company Overview
    10.6.2. Financial Performance
    10.6.3. Product Benchmarking
    10.6.4. Recent Development
    10.7. Ocean Power Technologies
    10.7.1. Company Overview
    10.7.2. Financial Performance
    10.7.3. Product Benchmarking
    10.7.4. Recent Development
    10.8. Orbital Marine Power
    10.8.1. Company Overview
    10.8.2. Financial Performance
    10.8.3. Product Benchmarking
    10.8.4. Recent Development
    10.9. Ricardo
    10.9.1. Company Overview
    10.9.2. Financial Performance
    10.9.3. Product Benchmarking
    10.9.4. Recent Development
    10.10. SIMEC Atlantis Energy
    10.10.1. Company Overview
    10.10.2. Financial Performance
    10.10.3. Product Benchmarking
    10.10.4. Recent Development
    10.11. Tidal Lagoon
    10.11.1. Company Overview
    10.11.2. Financial Performance
    10.11.3. Product Benchmarking
    10.11.4. Recent Development
    10.12. Andritz Hydro Hammerfest
    10.12.1. Company Overview
    10.12.2. Financial Performance
    10.12.3. Product Benchmarking
    10.12.4. Recent Development
    10.13. Tenax Energy
    10.13.1. Company Overview
    10.13.2. Financial Performance
    10.13.3. Product Benchmarking
    10.13.4. Recent Development
    10.14. CorPower Ocean
    10.14.1. Company Overview
    10.14.2. Financial Performance
    10.14.3. Product Benchmarking
    10.14.4. Recent Development
    10.15. ocean energy
    10.15.1. Company Overview
    10.15.2. Financial Performance
    10.15.3. Product Benchmarking
    10.15.4. Recent Development

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