Europe Tidal Current Turbine Market was valued at USD 1.1 Billion in 2022 and is projected to reach USD 1.8 Billion by 2030, growing at a CAGR of 6.4% from 2024 to 2030.
The Europe Tidal Current Turbine Market has been gaining significant attention in recent years as the demand for renewable energy sources continues to rise. As industries across the continent push for sustainable solutions, the need for efficient tidal energy technologies has surged. Tidal current turbines, which harness the power of ocean currents to generate electricity, are increasingly being seen as a viable option to complement wind and solar power in Europe’s energy mix.
Various industries, from power generation to maritime and environmental sectors, are driving the demand for tidal current turbines. These turbines provide a predictable and reliable energy source, with the potential for high efficiency, especially in areas with strong tidal currents. The market is rapidly evolving with a variety of technologies being developed to optimize energy capture and minimize environmental impact. With the global emphasis on reducing carbon emissions, industries are seeking innovative ways to meet their energy needs while aligning with environmental goals.
The growth of the Europe Tidal Current Turbine Market is also influenced by strict regulations and government initiatives that promote the adoption of renewable energy. The European Union, for instance, has set ambitious targets to reduce greenhouse gas emissions, which has led to increased investments in tidal energy projects. This has resulted in greater industry collaboration, with stakeholders looking to improve turbine efficiency, lower costs, and increase deployment in tidal zones.
Key market players are innovating to improve the technology's efficiency, durability, and cost-effectiveness. Companies are developing advanced materials and designs to optimize turbine blades and improve performance in high-turbulence conditions. As demand from industries grows, the market is expected to experience continued growth, with increased investments in research and development aimed at scaling up tidal energy infrastructure.
In conclusion, the Europe Tidal Current Turbine Market is becoming an essential part of the region’s renewable energy strategy. As industries push for cleaner, more sustainable energy sources, tidal current turbines present a promising solution. The ongoing advancements in technology, coupled with strong industry demand, will likely drive further expansion in this sector, contributing significantly to the transition to a low-carbon energy future.
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ANDRITZ
Orbital Marine Power
SIMEC Atlantis Energy
Tocardo
Siemens（Marine Current Turbines）
Verdant Power
Ocean Renewable Power Company(ORPC)
Minesto
Nova Innovation
EEL Energy
Atlantisstrom
Tidal Energy Pty Ltd
Ocean Flow Energy Ltd
EMEC Ltd
Renewable Devices Marine Ltd
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Europe Tidal Current Turbine Market
Horizontal Axis Turbines
Vertical Axis Turbines
Oscillating Water Column Turbines
Onshore Installation
Offshore Installation
Energy Generation
Research and Development
Environmental Monitoring
Government and Public Sector
Private Sector
Utilities
Research Organizations
Below 1 MW
1 MW - 5 MW
5 MW - 10 MW
Above 10 MW
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Europe Tidal Current Turbine Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Europe Tidal Current Turbine Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Europe Tidal Current Turbine Market, By Type
6. Europe Tidal Current Turbine Market, By Application
7. Europe Tidal Current Turbine Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Europe Tidal Current Turbine Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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