South Korea Marine Power (Wave and Tidal) Market was valued at USD 0.134 Billion in 2022 and is projected to reach USD 0.734 Billion by 2030, growing at a CAGR of 24.80% from 2024 to 2030.
The South Korea Marine Power (Wave and Tidal) market is quickly gaining traction, driven by the country's growing commitment to renewable energy sources. As one of the world's leading economies in technology and innovation, South Korea has set ambitious goals for sustainable energy development. Marine power, harnessing the immense potential of ocean tides and waves, is becoming an increasingly important part of this strategy.
Marine power (wave and tidal) offers a unique opportunity to generate electricity using the natural movements of the ocean. Wave energy refers to the kinetic energy of surface waves, while tidal power is generated by the gravitational pull of the moon, which causes predictable changes in sea levels. Together, these sources can contribute significantly to reducing South Korea's reliance on fossil fuels and enhancing energy security.
Industries in South Korea are showing growing interest in integrating marine power technologies into their energy mix. Key sectors such as manufacturing, shipping, and coastal development see marine power as a reliable and sustainable source of energy. With the country's extensive coastline, the potential for both wave and tidal energy is substantial. In fact, the South Korean government has been exploring the development of large-scale tidal power plants along its coast, which could provide significant energy capacity in the coming decades.
The demand for marine power is also supported by the country’s rigorous environmental standards. South Korea has implemented several policies encouraging the use of renewable energy, including feed-in tariffs and incentives for businesses that invest in green technologies. Furthermore, industries in need of stable and eco-friendly power are turning towards marine energy as a reliable solution, especially in coastal regions where other renewable sources may not be as viable.
As global awareness of climate change rises, South Korea’s marine power market is expected to grow rapidly. This expansion will drive innovation in technology, reduce costs, and open up new business opportunities for companies involved in renewable energy. As the country continues to harness the potential of wave and tidal energy, it will play a pivotal role in the global shift towards a more sustainable future.
Get an In-Depth Research Analysis of the South Korea Marine Power (Wave and Tidal) Market Size And Forecast [2025-2032]
Wello Oy
Pulse Tidal
Oceanlinx
Marine Current Turbines (MCT)
ORPC
OpenHydro
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.
Get Discount On The Purchase of the South Korea Marine Power (Wave and Tidal) Market Size And Forecast [2025-2032]
Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Marine Power (Wave and Tidal) Market
Wave Energy Conversion Technologies
Tidal Energy Technologies
Grid Connected
Off-Grid Applications
Hybrid Systems
Onshore Installations
Offshore Installations
Utilities
Commercial
Residential
Small Scale
Medium Scale
Large Scale
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
For More Information or Query, Visit @ South Korea Marine Power (Wave and Tidal) Market Research Analysis
1. Introduction of the South Korea Marine Power (Wave and Tidal) 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. South Korea Marine Power (Wave and Tidal) Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Marine Power (Wave and Tidal) Market, By Type
6. South Korea Marine Power (Wave and Tidal) Market, By Application
7. South Korea Marine Power (Wave and Tidal) Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Marine Power (Wave and Tidal) Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
About Us: Verified Market Reports
Verified Market Reports is a leading Research and Consulting firm servicing over 5000+ clients. We provide advanced analytical research solutions while offering information-enriched research studies. We also offer insights into strategic and growth analyses and data necessary to achieve corporate goals and critical revenue decisions.
Our 250 Analysts and SMEs offer a high level of expertise in data collection and governance using industrial techniques to collect and analyze data on more than 25,000 high-impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise, and years of collective experience to produce informative and accurate research.
Contact us:
Mr. Edwyne Fernandes
US: +1 (650)-781-4080
US Toll-Free: +1 (800)-782-1768
Website: https://www.verifiedmarketreports.com/