San Francisco, California, December 20, 2017: A recent market research report by TMR Research presents a comprehensive analytical overview of the global market for wave and tidal energy. The report is titled “Wave and Tidal Energy Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025.”
It is estimated that the market will expand at a promising pace over the report’s forecast period, chiefly owing to the increased global focus on the development of cleaner power generation technologies that have the least negative impact on the environment. The vast rise in global population, thriving industries in emerging economies, and a vast rise in infrastructure development activities are all leading to a massive rise in demand for electricity. This factor, together with the rise in stringent environment protection regulations across the globe, which are compelling the power generation industry to switch to cleaner and more environment-friendly energy resources, is expected to emerge as the key driver of the global wave and tidal energy market in the next few years.
A number of new wave and tidal energy projects are being established across the globe and will start contributing to the global energy mix on a consistent basis in the next few years. The report provides an overview of the growth dynamics of the market in present times and provides forecasts pertaining to its potential growth opportunity over the period between 2017 and 2025. The report covers an analysis of key growth drivers, restraints, trends, and regulations that could have a notable impact on the overall development of the market over the said period.
Geographically speaking, the market for wave and tidal energy presently earns a significant share in revenue from Europe. Europe is home to some of the oldest and largest wave and tidal energy projects and continues to make strides in the sector at an impressive pace. Factors such as the region’s commitment towards bringing down its carbon impression, increased dependency on renewable energy sources to fulfill its annual power requirements, encouraging regulatory scenario, and high awareness among the population regarding the need to switch to clean and green energy will continue to drive the market for wave and tidal energy.
The report also gives a thorough overview of the competitive landscape of the global wave and tidal energy market. Along with an overview of the positioning of the leading companies operating in the market, data pertaining to the aspects such as product portfolios, revenue, involvement in mergers and acquisitions, and innovations for some of the most promising vendors in the market is included in the report.
The vendor landscape of the market is largely fragmented and highly competitive. There are over 200 players in the market, with most operating in the field of developing energy conversion technologies. While it is difficult to say whether the market will achieve consolidation in the near future, small companies can achieve sustainable profits with the help of strategic alliances with larger firms.
Some of the leading companies operating in the global wave and tidal energy market are Marine Current Turbines Ltd., AquaGen Technologies, Ocean Renewable Power Company LLC, Atlantis Resources Ltd., Carnegie Wave Energy Ltd., Pelamis Wave Power Ltd., Aquamarine Power Ltd, Ocean Power Technologies, Inc., Tenax Energy, and S.D.E. Energy Ltd. (WERPO Wave Energy).
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