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Wave and Tidal Energy Market Size Worth $3.9 Billion by 2025: Grand View Research, Inc.

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News provided by

Grand View Research, Inc.

07 Mar, 2018, 09:35 GMT

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SAN FRANCISCO, March 7, 2018 /PRNewswire/ --

The global wave and tidal energy market size is expected to reach USD 3.9 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a 42.5% CAGR during the forecast period. Need to reduce dependency on fossil fuels, increasing investments, and supportive government regulations are likely to fuel market growth over the coming years.

     (Logo: http://photos.prnewswire.com/prnh/20160524/371361LOGO )

The renewable energy sector has witnessed significant expansion in terms of installations worldwide in 2016. The capacities in wind, marine, solar, waste-to-energy, small geothermal and hydro sources, and biomass combined added up to 138.5 GW in 2016, up from 127.5 GW in 2015. Investments in electricity generation through novel renewable sources was twice in comparison to fossil fuels.

Ocean energy is witnessing significant development in terms of new projects in various economies including U.K., Ireland, Sweden, Portugal, Thailand, India, Japan, China, Canada, and U.S., which is likely to fuel market growth over the coming years. However, high cost and socio-economic and environmental barriers are likely to restrain the development of the market over the forecast period.

Browse full research report with TOC on "Wave and Tidal Energy Market Size, Share & Trends Analysis Report By Energy Type (Wave, Tidal), By Region (North America, Europe, Asia Pacific), Competitive Landscape, And Segment Forecasts, 2018 - 2025" at: https://www.grandviewresearch.com/industry-analysis/wave-energy-market

Further Key Findings From the Report Suggest: 

  • The wave energy segment is likely to register significant growth in the coming years on account of extensive R&D and new project developments in numerous economies including Ireland, Sweden, Portugal, U.S., China, and New Zealand
  • The tidal segment dominated the market on account of high technological know-how. However, environmental concerns related to the technology are likely to restrain its growth
  • Asia Pacific is expected to be a lucrative market for the technology on account of supportive government initiatives
  • The number of companies in the global wave and tidal energy market has registered an increase in recent years. These companies are constantly making significant efforts to advance their technologies and deploy novel and improved equipment
  • R&D, new project developments, partnerships, and acquisitions are some of the major strategies being adopted by companies in the industry. In November 2016, BPS developed an ocean wave forecasting system for efficient operation of wave energy projects. This technology can also be used for fishing, aquaculture, diving, and oil and gas operations.

Browse related reports by Grand View Research: 

  • Air Electrode Battery Market - The global air electrode battery market is expected to witness lucrative growth over the forecast period. The key factors attributing to increase in market growth are the volatility in crude oil prices coupled with new favorable rules and regulations, increase in use of renewable sources of energy, and changes in weather conditions.
  • Dye Sensitized Solar Cell Market - Global dye sensitized solar cells (DSSC) market value was estimated to be USD 49.6 million in 2014 and is estimated to grow at a CAGR of over 12% from 2015 to 2022. 
  • Solar Cell Market - Global solar cell market size was estimated at 182.4 GW in 2014. Rising penetration of renewable energy sources owing to environmental benefits coupled with increasing electricity demand is expected to propel market growth.
  • Solar Pumps Market - Global solar pumps market was 102,188 units in 2013. Increasing agricultural activities coupled with water extraction for irrigation based on renewable energy is expected to drive the global solar pumps market over the forecast period. 

Grand View Research has segmented the global wave and tidal energy market on the basis of energy type and region: 

  • Wave and Tidal Energy Type Outlook (Installed Capacity, Megawatt; Revenue, USD Million, 2014 - 2025) 
  • Wave
  • Tidal
  • Wave and Tidal Energy Regional Outlook (Installed Capacity, Megawatt; Revenue, USD Million, 2014 - 2025) 
  • North America
    • Canada
  • Europe
    • U.K.
    • France
  • Asia Pacific
    • China
    • South Korea

Read Our Blog By Grand View Research: https://www.grandviewresearch.com/blogs/energy-and-power

About Grand View Research 

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: +1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com


Web: https://www.grandviewresearch.com

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