Global Marine Power (Wave and Tidal) Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027

MarketResearch.biz delivers in-depth insights on the global marine power (wave and tidal) market in its upcoming report titled, “Global Marine Power (Wave and Tidal) Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global marine power (wave and tidal) market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The marine power (wave and tidal) market report has been segmented on the basis of energy type and region.

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This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

The ocean is a huge source of renewable energy which currently remains largely untapped. Marine energy has unique advantages as compared to alternative clean energy sources in terms of more consistent activity cycles and predictability. Demand for wave & tidal energy as a source of power generation is expected to grow over the forecast period, as tides can be much more accurately predicted than sun or wind and due to the massive size of oceans.

On the basis of energy type, the tidal energy segment is estimated to hold major revenue share in the global marine power (wave and tidal) market and is expected to maintain its dominance over the forecast period. Tidal energy is a mature form of energy, which converts kinetic energy into electricity. Tidal energy is broadly classified into tidal range and tidal stream energy that are installed by the construction of barrages.

Asia Pacific market is estimated to hold major revenue share in the global marine power (wave and tidal) market, in 2017 and is expected to maintain its dominance over the forecast period. The growing adoption of different power generating solutions in the region is expected to drive Asia Pacific marine power market. Increasing population in the region is expected to boost the demand for power generation, which in turn is anticipated to drive the region growth over the forecast period. The Asia Pacific accounts for the largest revenue share contribution of the target market, followed by markets in North America, Europe, Latin America, and the Middle East & Africa respectively. Increasing number of publicly funded programs coupled with favorable government policies are expected to be a major factor driving the Asia Pacific marine power (wave and tidal) market.

Market segmentation and key players operating in the global marine power (wave and tidal) market:

By energy type:

• Wave energy
• Tidal energy

By region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa