PUBLISHER: Polaris Market Research | PRODUCT CODE: 1175641
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1175641
Ocean Power Market Share, Size, Trends, Industry Analysis Report, By Type (Tidal Barrages, Tidal Stream, Wave Energy, Others), By Application, By Region; Segment others Forecast, 2022 - 2030
The global ocean power market size is expected to reach USD 3,763.92 million by 2030, according to a new study by Polaris Market Research. The report "Ocean Power Market Share, Size, Trends, Industry Analysis Report, By Type (Tidal Barrages, Tidal Stream, Wave Energy, and Others); By Application; By Region; Segment Forecast, 2022-2030" gives a detailed insight into current market dynamics and provides analysis on future market growth.
The global market is expanding due to increased demand for energy generated by ocean power sources. Furthermore, the implementation of stringent government regulations aimed at reducing environmental pollution caused by carbon-emitting fossil fuels in the power generation industry is expected to fuel the growth. On the contrary, the rapid transition from coal and other conventional power generation to renewable energy generation is expected to provide lucrative growth opportunities for key players in the market over the coming years.
The rapid increase in global power consumption has increased power generation capacity to meet global demand. Renewable energy sources (RES) are preferred as alternative solutions due to their availability and are also environmentally friendly. These markets include non-renewable energy generation which is more cost-effective than renewable energy generation. Hence, hampering the market growth of ocean power.
Other forms of renewable energy, such as wind, solar, and biomass, are expected to impact ocean energy's competitiveness. Many renewable energy sources are available today, including wave and tidal power. There is no difference between wave power and tide power in producing electricity. The wind is responsible for generating wave energy, not tidal motions, and produces electricity.
For example, EMEC & Perpetuus Tidal Energy Centre (PTEC) signed an agreement to develop a tidal site in the UK by the end of 2020. Furthermore, the collaboration works towards developing the "TIGER project", which funds around USD 46.7 million. This involves constructing 5 tidal energy sites in France & the United Kingdom. Furthermore, the European Marine Energy Centre Limited (EMEC) collaborated with the sea-based, in February 2020, to design & implement a test program for its wave-to-grid technology for the energy park.
Ocean Power Market Report Highlights
The wave energy sub-segment by solution is anticipated to grow at a significant CAGR due to its vast application such as pumping water, desalinating water, and generating electricity.
The power generation segment is anticipated to grow at a substantial rate of CAGR. The rapid transition from coal and other conventional power generation to renewable energy has created lucrative opportunities for industry key players. Moreover, different technologies are used for power generation from wave and tidal, increasing opportunities for the global market.
During the forecast period, Europe is expected to be the most significant and fastest-growing region in the market. The rapid industrialization of various end-use industries in countries.
Key companies include Applied Technologies Company, Aqua-Magnetics, Atargis Energy Corporation, Able Technologies, Alba tern, Aquagen Technologies, Aqua-Magnetics, Biopower Systems, Blue Energy Canada, Carnegie Clean Energy, Minesto, Nova Innovation, Mocean Energy, Ocean Power Technologies, OceanEnergy, Andritz Hydro Hammerfest, Ocean Renewable Power, and Tenax Energy.
Polaris Market Research has segmented the ocean power market report based on type, material type, application, and region:
Ocean Power Market, Type Outlook (Revenue - USD Million, 2018 - 2030)
Tidal Barrages
Tidal Stream
Wave Energy
Others
Ocean Power Market, Application Outlook (Revenue - USD Million, 2018 - 2030)
Power Generation
Desalination
Water Pumping
Ocean Power Market, Regional Outlook (Revenue - USD Million, 2018 - 2030)
North America
U.S
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Latin America
Argentina
Brazil
Mexico
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
- 2.1. Market Highlights
3. Research Methodology
- 3.1. Overview
- 3.1.1. Data Mining
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Ocean Power Market Insights
- 4.1. Ocean Power Market - Industry Snapshot
- 4.2. Ocean Power Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Rising pollution levels
- 4.2.1.2. Government support for renewable energies
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Environmental challenges
- 4.2.1. Drivers and Opportunities
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTLE Analysis
- 4.5. Ocean Power Industry trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Ocean Power Market, by Type
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Ocean Power, by Type, 2018 - 2030 (USD Million)
- 5.3. Tidal Barrages
- 5.3.1. Global Ocean Power Market, by Tidal Barrages, by Region, 2018 - 2030 (USD Million)
- 5.4. Tidal Stream
- 5.4.1. Global Ocean Power Market, by Tidal Stream, by Region, 2018 - 2030 (USD Million)
- 5.5. Wave Energy
- 5.5.1. Global Ocean Power Market, by Wave Energy, by Region, 2018 - 2030 (USD Million)
- 5.6. Others
- 5.6.1. Global Ocean Power Market, by Others, by Region, 2018 - 2030 (USD Million)
6. Global Ocean Power Market, by Application
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- 6.3. Power Generation
- 6.3.1. Global Ocean Power Market, by Power Generation, by Region, 2018 - 2030 (USD Million)
- 6.4. Desalination
- 6.4.1. Global Ocean Power Market, by Desalination, by Region, 2018 - 2030 (USD Million)
- 6.5. Water Pumping
- 6.5.1. Global Ocean Power Market, by Water Pumping, by Region, 2018 - 2030 (USD Million)
7. Global Ocean Power Market, by Geography
- 7.1. Key findings
- 7.2. Introduction
- 7.2.1. Ocean Power Market Assessment, By Geography, 2018 - 2030 (USD Million)
- 7.3. Ocean Power Market - North America
- 7.3.1. North America: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- 7.3.2. North America: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- 7.3.3. Ocean Power Market - U.S.
- 7.3.3.1. U.S.: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- 7.3.3.2. U.S.: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- 7.3.4. Ocean Power Market - Canada
- 7.3.4.1. Canada: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- 7.3.4.2. Canada: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- 7.4. Ocean Power Market - Europe
- 7.4.1. Europe: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- 7.4.2. Europe: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- 7.4.3. Ocean Power Market - UK
- 7.4.3.1. UK: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- 7.4.3.2. UK: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- 7.4.4. Ocean Power Market - France
- 7.4.4.1. France: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- 7.4.4.2. France: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- 7.4.5. Ocean Power Market - Germany
- 7.4.5.1. Germany: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- 7.4.5.2. Germany: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- 7.4.6. Ocean Power Market - Italy
- 7.4.6.1. Italy: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- 7.4.6.2. Italy: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- 7.4.7. Ocean Power Market - Spain
- 7.4.7.1. Spain: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- 7.4.7.2. Spain: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- 7.4.8. Ocean Power Market - Netherlands
- 7.4.8.1. Netherlands: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- 7.4.8.2. Netherlands: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- 7.4.9. Ocean Power Market - Russia
- 7.4.9.1. Russia: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- 7.4.9.2. Russia: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- 7.5. Ocean Power Market - Asia Pacific
- 7.5.1. Asia Pacific: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- 7.5.2. Asia Pacific: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- 7.5.3. Ocean Power Market - China
- 7.5.3.1. China: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- 7.5.3.2. China: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- 7.5.4. Ocean Power Market - India
- 7.5.4.1. India: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- 7.5.4.2. India: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- 7.5.5. Ocean Power Market - Malaysia
- 7.5.5.1. Malaysia: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- 7.5.5.2. Malaysia: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- 7.5.6. Ocean Power Market - Japan
- 7.5.6.1. Japan: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- 7.5.6.2. Japan: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- 7.5.7. Ocean Power Market - Indonesia
- 7.5.7.1. Indonesia: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- 7.5.7.2. Indonesia: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- 7.5.8. Ocean Power Market - South Korea
- 7.5.8.1. South Korea: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- 7.5.8.2. South Korea: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- 7.6. Ocean Power Market - Middle East & Africa
- 7.6.1. Middle East & Africa: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- 7.6.2. Middle East & Africa: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- 7.6.3. Ocean Power Market - Saudi Arabia
- 7.6.3.1. Saudi Arabia: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- 7.6.3.2. Saudi Arabia: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- 7.6.4. Ocean Power Market - UAE
- 7.6.4.1. UAE: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- 7.6.4.2. UAE: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- 7.6.5. Ocean Power Market - Israel
- 7.6.5.1. Israel: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- 7.6.5.2. Israel: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- 7.6.6. Ocean Power Market - South Africa
- 7.6.6.1. South Africa: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- 7.6.6.2. South Africa: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- 7.7. Ocean Power Market - Latin America
- 7.7.1. Latin America: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- 7.7.2. Latin America: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- 7.7.3. Ocean Power Market - Mexico
- 7.7.3.1. Mexico: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- 7.7.3.2. Mexico: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- 7.7.4. Ocean Power Market - Brazil
- 7.7.4.1. Brazil: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- 7.7.4.2. Brazil: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- 7.7.5. Ocean Power Market - Argentina
- 7.7.5.1. Argentina: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- 7.7.5.2. Argentina: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
8. Competitive Landscape
- 8.1. Expansion and Acquisition Analysis
- 8.1.1. Expansion
- 8.1.2. Acquisitions
- 8.2. Partnerships/Collaborations/Agreements/Exhibitions
9. Company Profiles
- 9.1. Applied Technologies
- 9.1.1. Company Overview
- 9.1.2. Financial Performance
- 9.1.3. Product Benchmarking
- 9.1.4. Recent Development
- 9.2. Aqua-Magnetics
- 9.2.1. Company Overview
- 9.2.2. Financial Performance
- 9.2.3. Product Benchmarking
- 9.2.4. Recent Development
- 9.3. Atargis Energy Corporation
- 9.3.1. Company Overview
- 9.3.2. Financial Performance
- 9.3.3. Product Benchmarking
- 9.3.4. Recent Development
- 9.4. Able Technologies
- 9.4.1. Company Overview
- 9.4.2. Financial Performance
- 9.4.3. Product Benchmarking
- 9.4.4. Recent Development
- 9.5. Alba tern
- 9.5.1. Company Overview
- 9.5.2. Financial Performance
- 9.5.3. Product Benchmarking
- 9.5.4. Recent Development
- 9.6. Aquagen Technologies
- 9.6.1. Company Overview
- 9.6.2. Financial Performance
- 9.6.3. Product Benchmarking
- 9.6.4. Recent Development
- 9.7. Biopower Systems
- 9.7.1. Company Overview
- 9.7.2. Financial Performance
- 9.7.3. Product Benchmarking
- 9.7.4. Recent Development
- 9.8. Blue Energy Canada
- 9.8.1. Company Overview
- 9.8.2. Financial Performance
- 9.8.3. Product Benchmarking
- 9.8.4. Recent Development
- 9.9. Carnegie Clean Energy
- 9.9.1. Company Overview
- 9.9.2. Financial Performance
- 9.9.3. Product Benchmarking
- 9.9.4. Recent Development
- 9.10. Minesto
- 9.10.1. Company Overview
- 9.10.2. Financial Performance
- 9.10.3. Product Benchmarking
- 9.10.4. Recent Development
- 9.11. Nova Innovation
- 9.11.1. Company Overview
- 9.11.2. Financial Performance
- 9.11.3. Product Benchmarking
- 9.11.4. Recent Development
- 9.12. Mocean Energy
- 9.12.1. Company Overview
- 9.12.2. Financial Performance
- 9.12.3. Product Benchmarking
- 9.12.4. Recent Development
- 9.13. Ocean Power Technologies
- 9.13.1. Company Overview
- 9.13.2. Financial Performance
- 9.13.3. Product Benchmarking
- 9.13.4. Recent Development
- 9.14. OceanEnergy
- 9.14.1. Company Overview
- 9.14.2. Financial Performance
- 9.14.3. Product Benchmarking
- 9.14.4. Recent Development
- 9.15. Andritz Hydro Hammerfest
- 9.15.1. Company Overview
- 9.15.2. Financial Performance
- 9.15.3. Product Benchmarking
- 9.15.4. Recent Development
- 9.16. Ocean Renewable Power
- 9.16.1. Company Overview
- 9.16.2. Financial Performance
- 9.16.3. Product Benchmarking
- 9.16.4. Recent Development
- 9.17. Tenax Energy
- 9.17.1. Company Overview
- 9.17.2. Financial Performance
- 9.17.3. Product Benchmarking
- 9.17.4. Recent Development
List of Tables
- Table 1 Global Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- Table 2 Global Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- Table 3 Ocean Power Market Assessment, By Geography, 2018 - 2030 (USD Million)
- Table 4 North America: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- Table 5 North America: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- Table 6 U.S.: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- Table 7 U.S.: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- Table 8 Canada: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- Table 9 Canada: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- Table 10 Europe: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- Table 11 Europe: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- Table 12 UK: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- Table 13 UK: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- Table 14 France: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- Table 15 France: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- Table 16 Germany: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- Table 17 Germany: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- Table 18 Italy: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- Table 19 Italy: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- Table 20 Spain: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- Table 21 Spain: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- Table 22 Netherlands: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- Table 23 Netherlands: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- Table 24 Russia: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- Table 25 Russia: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- Table 26 Asia Pacific: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- Table 27 Asia Pacific: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- Table 28 China: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- Table 29 China: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- Table 30 India: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- Table 31 India: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- Table 32 Malaysia: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- Table 33 Malaysia: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- Table 34 Japan: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- Table 35 Japan: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- Table 36 Indonesia: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- Table 37 Indonesia: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- Table 38 South Korea: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- Table 39 South Korea: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- Table 40 Middle East & Africa: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- Table 41 Middle East & Africa: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- Table 42 Saudi Arabia: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- Table 43 Saudi Arabia: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- Table 44 UAE: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- Table 45 UAE: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- Table 46 Israel: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- Table 47 Israel: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- Table 48 South Africa: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- Table 49 South Africa: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- Table 50 Latin America: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- Table 51 Latin America: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- Table 52 Mexico: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- Table 53 Mexico: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- Table 54 Brazil: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- Table 55 Brazil: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
- Table 56 Argentina: Ocean Power Market, by Application, 2018 - 2030 (USD Million)
- Table 57 Argentina: Ocean Power Market, by Type, 2018 - 2030 (USD Million)
List of Figures
Figure 1 Global Ocean Power Market, 2018 - 2030 (USD Million)
Figure 2 Integrated Ecosystem
Figure 3 Research Methodology: Top-Down & Bottom-Up Approach
Figure 4 Market by Geography
Figure 5 Porter's Five Forces
Figure 6 Market by Application
Figure 7 Global Ocean Power Market, by Application, 2021 & 2030 (USD Million)
Figure 8 Market by Type
Figure 9 Global Ocean Power Market, by Type, 2021 & 2030 (USD Million)
Figure 10 Ocean Power Market Assessment, By Geography, 2018 - 2030 (USD Million)
Figure 11 Strategic Analysis - Ocean Power Market
