Tidal Energy Market size is estimated to be USD 1.26 Billion in 2024 and is expected to reach USD 4.12 Billion by 2033 at a CAGR of 14.1% from 2026 to 2033.
In 2022, the global tidal energy market was valued at approximately USD 0.93 billion, with a projected compound annual growth rate (CAGR) of 15.71% from 2024 to 2032. Europe led the market, generating over 80.6 GWh of tidal energy in 2022, maintaining its position as a leader in ocean energy. However, the region experienced a decline in tidal and wave energy installations in 2022, marking it as the least productive year in this regard. China emerged as a significant competitor, leading in new capacity installations over the past three years. In North America, the United States harnessed approximately 2.64 trillion kilowatt hours annually from wave energy along its coastline, highlighting substantial potential for tidal energy development. The Asia Pacific region is anticipated to register the fastest growth rate during the forecast period, driven by increasing investments in marine energy technologies and favorable government policies. India, with its extensive coastline exceeding 7,500 kilometers, possesses a theoretical tidal and wave energy potential of 12.5 GW and 41.3 GW, respectively, indicating significant opportunities for tidal energy projects. The tidal energy market presents numerous opportunities, particularly in regions with substantial tidal resources and supportive regulatory frameworks. Europes ambitious target to achieve 40 GW of installed ocean energy capacity by 2050 underscores the continents commitment to expanding its tidal energy infrastructure. In the United Kingdom, the Severn Estuary Commission has recommended the development of a tidal energy lagoon, which could contribute up to 7% of the UKs electricity needs, add ÂŁ12 billion in gross value added, and create 220,000 construction jobs. citeturn0news12 In Asia, Chinas operationalization of a 3.3 MW tidal farm in Zhoushan, supported by government initiatives, exemplifies the regions growing investment in tidal energy projects. Indias vast coastline and substantial tidal energy potential present significant opportunities for developing tidal energy infrastructure to meet the countrys increasing energy demands and sustainability goals.
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Aquamarine Power ltd
Carnegie Wave Energy Ltd.
Pelamis Wave Power Ltd.
Tenax Energy
S.D.E. Energy Ltd.
AquaGen Technologies
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. 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 Global Tidal Energy Market
Conventional Tidal Stream
Tidal Barrage
Tidal Kite Systems
Tidal Turbines
Electricity Generation
Coastal Protection
Desalination
Onshore Installations
Offshore Installations
Public Sector
Private Sector
Joint Ventures
Community-owned
Battery Storage Systems
Hydraulic Accumulators
Flywheel Energy Storage
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 Global Tidal Energy 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. Global Tidal Energy Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Tidal Energy Market, By Type
6. Global Tidal Energy Market, By Application
7. Global Tidal Energy Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Tidal Energy Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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