Pune, India -- (SBWIRE) -- 02/13/2018 -- Wave and Tidal Energy Global Market - Overview

Wave and Tidal energy are basically two predominant forms of ocean energy having huge market dynamics. When harnessed effectively, oceans could prove to be the largest reserves of clean and sustainable energy meeting the part of global energy demand. Wave and Tidal energy significantly contribute to generate power in distant remote sites where grid connections can be neither cost-effective nor feasible. Obtained by harnessing the power of tides & waves they are a constant source of energy due to the gravitational forces of Earth, Sun and Moon. Increasing carbon footprints worldwide has prompted the demand for clean and renewable energy resources. Simultaneously, the global power demand is ever increasing and the world is striving to develop new renewable energy resources more than ever. Owing to all these factors; the market for Wave and Tidal energy is perceiving an augmented demand on the global platform.

Accrediting the kind of traction the market is garnering currently demonstrating the growth prospects worldwide, Market Research Future has recently published a study report, according to which the Global Wave and Tidal Energy Market is projected to grow at a striking double digit CAGR of 10.2% during 2017 to 2023.
Tidal energy, a mature form of energy, is broadly classified into tidal stream and tidal range energy that are entailed by construction of barrages. On the other hand, wave energy is a relatively new concept and the sector is expected to witness significant market growth during the forecast period in terms of installed capacity and capital investment. Wave and tidal stream technologies have significant potential of reaping benefits of economies of scale. Large-scale commercial array deployments of wave and tidal power plants are projected to be followed by massive cost reductions. With strong development in offshore wind energy, the wave and tidal energy market growth is expected to be stable as several investments can be made into the cost reduction of the wave and tidal energy. The market needs constant financial and policy support from governments for brisk commercialization and technology development.

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Key Players:
The major players operating in wave and tidal energy market are
- Pelamis Wave Power. (UK),
- Tenax Energy (Australia),
- Atlantis Resources Ltd (UK),
- Aquamarine Power Ltd. (UK),
- Carnegie Wave Energy Limited (Australia),
- Ocean Power Technologies Inc., (U.S.),
- Marine Current Turbines Ltd, (U.K),
- Ocean Renewable Power CO Llc (U.S.)
- Yam Pro Energy (Israel).

Wave and Tidal Energy Global Market - Regional Analysis
Geographically, the global wave and tidal energy market has been divided into North America, Europe, Asia Pacific and Rest of the World. Among these regions, The Europe will be at the forefront of the wave and tidal energy market. The ongoing efforts by the governments in the region to cut down the carbon footprint, smaller region with surrounded by the coastline, and the rapid pace of technological advancements are expected to be the key contributors to the regional market's growth in the near future. Meanwhile, the tidal barrage operations in South Korea are expected to put Asia Pacific on the global map in the coming years. Furthermore, Australia is also expected to make a significant contribution to the soaring revenue of the Asia Pacific wave and tidal energy market.

Scope of the Report
This study provides an overview of the global wave and tidal energy market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global wave and tidal energy storage market by industry type, by application, by drone type and by region.

? Global Wave and tidal energy Market, By Type
- Wave Energy
- Tidal Energy
? Global Wave and tidal energy Market, By Region
- Europe
- North America
- Asia-Pacific
- Rest of the world

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List of Figures
Figure 1 Research Application
Figure 2 Global Wave And Tidal Energy Market: By Type (%)
Figure 3 Global Wave And Tidal Energy Market: By Region
Figure 4 North America Wave And Tidal Energy Market, By Type (%)
Figure 5 North America Wave And Tidal Energy Market, By Countries (%)
Figure 6 Europe Wave And Tidal Energy Market, By Type (%)
Figure 7 Europe Wave And Tidal Energy Market, By Countries (%)
Figure 8 Asia-Pacific Wave And Tidal Energy Market, By Type (%)
Figure 9 Asia-Pacific Wave And Tidal Energy Market, By Countries (%)
Figure 10 Row Wave And Tidal Energy Market, By Type (%)
Continue……

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