Wave Energy Converter Market Size- By Type, By Mode of Operation, By Deployment Location, By Take-Off System, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2032
Global Wave Energy Converter Market Overview
According to SPER Market Research, the Global Wave Energy Converter Market is estimated to reach USD 0.03 billion by 2032 with a CAGR of 4.55%. The kinetic and potential energy associated with a moving ocean wave is transformed into usable mechanical or electrical energy by devices known as wave energy converters. In order to move saltwater for desalination or to power underwater vehicles, wave energy converters generate clean energy. Using a wave energy converter, the energy present in ocean waves is captured and used to produce power. It is a very efficient method that taps into the vast, inexhaustible energy that ocean waves provide. The wave energy converter uses a number of techniques to capture wave energy. Depending on the setting and ocean depth, it is employed.
Impact of COVID-19 on the Global Wave Energy Converter Market
The global economy and various industries have been significantly affected by the COVID-19 pandemic, and the wave energy converter (WEC) market is no different. The pandemic has impacted the WEC market in multiple ways, including delayed installations due to travel and construction restrictions, which have caused a slowdown in the market. Furthermore, investors have become more cautious due to the pandemic's uncertainty, resulting in a reduction in WEC project funding. Additionally, the WEC market's global supply chain has experienced disruptions, causing delays in the delivery of necessary components and equipment, further impeding installation progress.
Scope of the Report:
Report Metric Details
Market size available for years 2019-2032
Base year considered 2021
Forecast period 2022-2032
Segments covered
By Type, By Mode of Operation, By Deployment Location, By Take-Off System, By Application
Regions covered Asia-Pacific, Europe, Middle East and Africa, North America, Latin America
Companies Covered Ocean Power Technologies, Marine Power Systems, Eco Wave Power, SINN Power GmbH, NEMOS GmbH, INGINE Inc., Carnegie Clean Energy, AWS Ocean Energy, HavKraft AS, Wave Dragon, Aquanet Power
Global Wave Energy Converter Market Segmentation:
By Type: Based on the Type, Global Wave Energy Converter Market is segmented as; Absorber, Attenuator Point, Terminator
By Application: Based on the Application, Global Wave Energy Converter Market is segmented as; Environment Protection, Power Generation, Seawater Desalination
By Region: The worldwide wave energy converter market can be divided into the following regions based on geography: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
- 1. Introduction
- 1.1. Scope of the report
- 1.2. Market segment analysis
- 2. Research Methodology
- 2.1 Research data source
- 2.1.1 Secondary data
- 2.1.2 Primary data
- 2.1.3 SPER’s internal database
- 2.1.4 Premium insight from KOL’s
- 2.2 Market size estimation
- 2.2.1 Top-down and Bottom-up approach
- 2.3 Data triangulation
- 3. Executive Summary
- 4. Market Dynamics
- 4.1. Driver, Restraint, Opportunity and Challenges analysis
- 4.1.1 Drivers
- 4.1.2 Restraints
- 4.1.3 Opportunities
- 4.1.4 Challenges
- 4.2. COVID-19 Impacts of the Global Wave Energy Converter Market
- 5. Market variables and outlook
- 5.1. SWOT analysis
- 5.1.1 Strengths
- 5.1.2 Weaknesses
- 5.1.3 Opportunities
- 5.1.4 Threats
- 5.2. PESTEL analysis
- 5.2.1 Political landscape
- 5.2.2 Economic landscape
- 5.2.3 Social landscape
- 5.2.4 Technological landscape
- 5.2.5 Environmental landscape
- 5.2.6 Legal landscape
- 5.3. PORTER’S five forces analysis
- 5.3.1 Bargaining power of suppliers
- 5.3.2 Bargaining power of Buyers
- 5.3.3 Threat of Substitute
- 5.3.4 Threat of new entrant
- 5.3.5 Competitive rivalry
- 5.4. Heat map analysis
- 6. Competitive Landscape
- 6.1 Global Wave Energy Converter Manufacturing Base Distribution, Sales Area, Product Type
- 6.2 Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Wave Energy Converter Market
- 7. Global Wave Energy Converter Market, By Type, 2019-2032 (USD Million)
- 7.1 Absorber
- 7.2 Attenuator Point
- 7.3 Terminator
- 8. Global Wave Energy Converter Market, By Mode of Operation, 2019-2032 (USD Million)
- 8.1 Bulge Wave Devices
- 8.2 Oscillating Body Converter
- 8.3 Oscillating Water Column
- 8.4 Oscillating Wave Surge Converter
- 8.5 Overtopping Devices
- 8.6 Rotating Mass Devices
- 8.7 Submerged Pressure Differential
- 9. Global Wave Energy Converter Market, By Deployment Location, 2019-2032 (USD Million)
- 9.1 Nearshore Devices
- 9.2 Off-shore Devices
- 9.3 Shoreline Devices
- 10. Global Wave Energy Converter Market, By Take-Off System, 2019-2032 (USD Million)
- 10.1 Electrical Linear Generator
- 10.2 Hydraulics
- 10.3 Turbine Transfer
- 11. Global Wave Energy Converter Market, By Application, 2019-2032 (USD Million)
- 11.1 Environment Protection
- 11.2 Power Generation
- 11.3 Seawater Desalination
- 12. Global Commercial Washing Market, By Region, 2019-2032 (USD Million)
- 12.1 Global Wave Energy Converter Market Size and Market Share by Region (2019-2025)
- 12.2 Global Wave Energy Converter Market Size and Market Share by Region (2026-2032)
- 12.3 Asia-Pacific
- 12.3.1 Australia
- 12.3.2 China
- 12.3.3 India
- 12.3.4 Japan
- 12.3.5 South Korea
- 12.3.6 Rest of Asia-Pacific
- 12.4 Europe
- 12.4.1 France
- 12.4.2 Germany
- 12.4.3 Italy
- 12.4.4 Spain
- 12.4.5 United Kingdom
- 12.4.6 Rest of Europe
- 12.5 Middle East and Africa
- 12.5.1 Kingdom of Saudi Arabia
- 12.5.2 United Arab Emirates
- 12.5.3 Rest of Middle East & Africa
- 12.6 North America
- 12.6.1 Canada
- 12.6.2 Mexico
- 12.6.3 United States
- 12.7 Latin America
- 12.7.1 Argentina
- 12.7.2 Brazil
- 12.7.3 Rest of Latin America
- 13. Company Profiles
- 13.1 Ocean Power Technologies
- 13.1.1 Company details
- 13.1.2 Financial outlook
- 13.1.3 Product summary
- 13.1.4 Recent developments
- 13.2 Marine Power Systems
- 13.2.1 Company details
- 13.2.2 Financial outlook
- 13.2.3 Product summary
- 13.2.4 Recent developments
- 13.3 Eco Wave Power
- 13.3.1 Company details
- 13.3.2 Financial outlook
- 13.3.3 Product summary
- 13.3.4 Recent developments
- 13.4 SINN Power GmbH
- 13.4.1 Company details
- 13.4.2 Financial outlook
- 13.4.3 Product summary
- 13.4.4 Recent developments
- 13.5 NEMOS GmbH
- 13.5.1 Company details
- 13.5.2 Financial outlook
- 13.5.3 Product summary
- 13.5.4 Recent developments
- 13.6 INGINE Inc.
- 13.6.1 Company details
- 13.6.2 Financial outlook
- 13.6.3 Product summary
- 13.6.4 Recent developments
- 13.7 Carnegie Clean Energy
- 13.7.1 Company details
- 13.7.2 Financial outlook
- 13.7.3 Product summary
- 13.7.4 Recent developments
- 13.8 AWS Ocean Energy
- 13.8.1 Company details
- 13.8.2 Financial outlook
- 13.8.3 Product summary
- 13.8.4 Recent developments
- 13.9 HavKraft AS
- 13.9.1 Company details
- 13.9.2 Financial outlook
- 13.9.3 Product summary
- 13.9.4 Recent developments
- 13.10 Wave Dragon
- 13.10.1 Company details
- 13.10.2 Financial outlook
- 13.10.3 Product summary
- 13.10.4 Recent developments
- 13.11 Aquanet Power
- 13.11.1 Company details
- 13.11.2 Financial outlook
- 13.11.3 Product summary
- 13.11.4 Recent developments
- 14. List of Abbreviations
- 15. Reference Links
- 16. Conclusion
- 17. Research Scope
Research Assistance
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