China Expected to Achieve Impressive 7.4% CAGR, Reaching a $2.2 Billion Market Size by 2030 in the Ocean Energy Sector

DUBLIN, Oct. 9, 2023 /PRNewswire/ -- The "Ocean Energy (Tidal Stream and Wave) - Global Strategic Business Report" report has been added to  ResearchAndMarkets.com's offering. 

The global ocean energy market, which encompass both tidal stream and wave energy, is poised for remarkable growth, with projections indicating a rise from 86.2 thousand kilowatts in 2022 to an estimated 1.3 million kilowatts by 2030. This surge represents a remarkable compound annual growth rate (CAGR) of 39.7% during the analysis period spanning from 2022 to 2030.

The ocean energy market presents promising opportunities, especially in the context of sustainable energy solutions. This comprehensive market research report provides invaluable insights into the rapidly evolving sector, offering a solid foundation for informed strategic decisions.

Key Insights

• Economic Outlook: The global economic outlook is gradually improving, with several countries showing signs of resilience in the face of challenges such as  inflation concerns, and the impact of climate change on economic decisions.
• Competitor Analysis: The report features detailed competitor analysis, highlighting key players in the ocean energy market. These include Ocean Power Technologies, Inc., Tocardo International BV, Aquamarine Power Limited, Bluewater Energy Services BV, and Carnegie Clean Energy Limited, among others.
• Geographic Focus: The report focuses on key geographies with significant developments in ocean energy, including the United States, China, Japan, Canada, and the UK.
• New Technologies: Emerging technologies such as generative AI, applied AI, machine learning, Web3, quantum technologies, electrification, and renewables are expected to reshape the global investment landscape.
• Additional Features: The report includes special discussions on the global economic climate and market sentiment, coverage on global competitiveness and key competitor market shares, market presence analysis across multiple geographies, online interactive peer-to-peer collaborative updates, access to digital archives and a research platform, and complimentary updates for one year.

The ocean energy market offers substantial growth potential as the world increasingly embraces sustainable energy solutions. By staying informed with the most up-to-date and relevant data, businesses and investors can position themselves for success in this dynamic market.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Influencer Market Insights
• World Market Trajectories
• Impact of Covid-19 and a Looming Global Recession
• Covid-19 Crisis Underlines the Need for Sustainable Development
• Investment Scenario on Renewable Energy Remains Impacted
• Global Investments in Clean Energy & Efficiency Technologies (In US$ Billion) for the Years 2018, 2019 & 2020
• Inevitable Rise in Energy Demand Post COVID-19 to Throw Spotlight on Renewable Energy
• Ocean Energy (Tidal Stream and Wave) - Global Key Competitors Percentage Market Share in 2022 (E)
• Ocean Energy: Prelude
• Wave Energy
• Global Wave Energy Devices Breakdown (%) by Application: 2017
• Major Resources
• Tidal Energy
• Tidal Streams
• Floating Offshore Wind Turbine (FOWT)
• Ocean Thermal Energy
• Salt Power
• Ocean: One of the Largest Renewable Energy Sources
• Worldwide Major Locations with Mean Tidal Range >5 Meters
• Sustained Rise in Electric Power Consumption Drives the Need for Alternative Energy Sources
• Projected Global Demand for Electricity (MWh): 2015, 2020, 2025, 2030 & 2035
• Global Primary Energy Consumption (Billion toe): Growth Trajectory for the Period 1990-2040
• Estimated Global Power Generation Infrastructure Requirement (in US$ Billion) for China, India, Latin America, and North America over the Period 2010-2030
• Shift to Renewable Sources of Energy: An Inevitable Reality
• Global Energy Mix: 1990 Vs 2020
• Global Renewable Energy Breakdown by Type: 2010 Vs 2030
• Global Energy Production by Energy Source (2030 & 2040): Breakdown of Electricity (Billion Kilowatt Hours) and Percentage Share for Petroleum, Nuclear, Natural Gas, Coal and Renewables
• Huge Untapped Kinetic Energy Potential of Oceans: A Fundamental Growth Driver
• Fast Facts
• Growth Drivers in a Nutshell
• Key Market Inhibitors
• Government Intervention Critical for Commercial Success of Ocean Energy
• Targets for Electricity Production from Renewable Energy Sources in Select Countries
• Global Market Outlook
• Europe Leads the Global Ocean Energy Market
• Asia-Pacific: Frontrunner in Tidal Barrage Power Plants

2. FOCUS ON SELECT PLAYERS

• World Brands
• Competition
• Ocean Energy: A Highly Fragmented Market
• Total Number of Patents Filed for Marine Energy Technology Worldwide for the Years 2000, 2005, 2010, 2015 & 2016
• Recent Industry Activity
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

3. MARKET TRENDS AND DRIVERS

• Growing Number of Wave Energy Projects Worldwide Drives Strong Market Growth
• Select Wave Power Stations Worldwide
• Tidal Energy Gains Momentum
• MeyGen: A Multi-Turbine Tidal Stream Project in Scotland
• Tidal Energy Projects Worldwide
• Select Tidal Projects (Existing & Proposed) Worldwide
• Tidal Stream Projects Lends Traction to Market Growth
• Ocean Thermal Energy Conversion (OTEC) - A Niche Segment
• OTEC Project on the South Pacific Ocean
• Select FOWT Projects Worldwide: Project Proponent, Technology, Location, Capacity (MW) and Scheduled Completion
• Select FOWT Projects Worldwide: Project Proponent, Technology, Location, Capacity (MW) and Scheduled Completion
• Rising Investments in Renewable Energy Sources Benefit Market Expansion
• Superior Attributes of Tidal Energy Attract New Developers, Benefits Market Adoption
• Horizontal Axis Turbines Grab Lion's Share of Tidal Energy Devices
• Tidal Energy: Abundant Resources despite Technology Barriers
• Despite Dominance of Tidal Energy, Wave Energy Garner Growing Attention and Investments
• Small Islands Provide Big Push for Ocean Thermal Energy Conversion Plants
• Wave Energy Sector Sees a Wave of Innovations
• Technology Developments to Harness Salt Power
• Burgeoning Global Population Propels Demand for Electric Power
• World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
• Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 1950, 1970, 1990, 2018, 2030 and 2050
• Key Challenges Hampering Ocean Energy Development
• Financial Support and Markets
• Administrative and Environmental Issues
• Environmental Challenges
• Administrative Issues
• Social Acceptance Impediments
• Availability of Grid Close to Projects
• Grid Integration
• Technology Advancements

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/ulx5re

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