Tidal Current Turbine Market size is estimated to be USD 1.2 Billion in 2024 and is expected to reach USD 4.5 Billion by 2033 at a CAGR of 16.5% from 2026 to 2033.
The global Tidal Current Turbine market size was valued at approximately USD 8.5 billion in 2022, with an expected compound annual growth rate (CAGR) of 11.5% from 2023 to 2030. Increasing investments in renewable energy sources and advancements in tidal energy technology are driving the market. The demand for sustainable and eco friendly energy alternatives, alongside favorable government initiatives and growing environmental concerns, further support market growth. As countries shift toward cleaner energy solutions, the adoption of tidal current turbines is expected to rise, contributing significantly to the overall growth of the sector.
Regionally, the Europe market holds the largest share, accounting for around 45% of the global market in 2022, followed by North America and Asia Pacific. Europe has been a pioneer in adopting tidal energy technologies, with countries like the UK and France leading the charge. North America is also poised for substantial growth, especially in the U.S. and Canada, where initiatives are underway to scale up renewable energy generation. The Asia Pacific region is expected to experience the fastest growth, driven by the growing energy demand, especially in coastal countries such as China and India, and an increasing focus on renewable energy in the region. These regions provide ample opportunities for market players to expand their footprints and capitalize on the demand for renewable energy solutions.
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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. 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 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 Global 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. Global Tidal Current Turbine Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Tidal Current Turbine Market, By Type
6. Global Tidal Current Turbine Market, By Application
7. Global Tidal Current Turbine Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Tidal Current Turbine Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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