Tidal Energy Market was valued at USD 0.57 Billion in 2022 and is projected to reach USD 3.60 Billion by 2030, growing at a CAGR of 24.50% from 2024 to 2030.
The global tidal energy market was valued at approximately USD 0.7 billion in 2022 and is projected to experience significant growth over the coming years. The market is expected to expand at a compound annual growth rate (CAGR) of around 20% from 2023 to 2030. This robust growth can be attributed to increasing investments in renewable energy infrastructure and growing awareness about the benefits of tidal energy as a sustainable power source. The market’s expansion is also driven by technological advancements in tidal energy systems and the supportive regulatory frameworks implemented by various governments.
Opportunity analysis indicates that the tidal energy sector holds substantial potential for development, particularly in regions with high tidal ranges and strong ocean currents. Emerging markets are showing increasing interest in harnessing tidal energy due to their abundant natural resources and the need to diversify their energy mix. This growth potential is further fueled by advancements in turbine technology and the reduction in capital costs, which make tidal energy projects more economically viable. As countries strive to meet their renewable energy targets and mitigate climate change impacts, the tidal energy market is poised to attract significant investments and innovative technological solutions.
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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. 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 Global Tidal Energy Market
Commercial
Industrial
Residential
Based on Types the Market is categorized into Below types that held the largest Tidal Energy market share In 2023.
Tidal Stream Generator
Pendulor Device
Oscillating Water Columns
Barrage
Others (Lagoon and Turbine)
Global (United States, Global 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
Global
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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