Market Overview:
The global ocean energy market is expected to grow from USD 1.02 Billion in 2018 to USD 2.48 Billion by 2030, at a CAGR of 10.5% from 2018 to 2030. The growth of the global ocean energy market can be attributed to the increasing demand for renewable energy sources and the need for clean and sustainable energy sources. The wave energy segment is expected to hold the largest share of the global ocean energy market in 2018, owing to its high potential for generating electricity and low environmental impact as compared to other forms of renewable energies such as solar.
Product Definition:
The energy in waves, tides, and thermal differences in the ocean. Ocean energy can be used to generate electricity, pump water or heat buildings.
Wave Energy:
Wave energy is the kinetic energy generated by waves in water. The ocean surface is constantly moving with respect to the wind and this movement creates a wave. As a result, the wind does not blow atshore areas directly but it generates waves that move towards shore and break onshore producing wave energy. Wave Energy can be used for various applications including renewable electricity generation ( offshore power plants), marine propulsion (wave farm) and environmental monitoring (ocean current monitoring).
Others:
Others is the remaining energy in an ocean wave. It has been known to have more energy than expected and it's used for commercial purposes. The Others market is estimated to grow at a CAGR of XX% over the forecast period owing to its increasing application across various industries including power generation, oil & gas, marine transportation, and wind farm among others.
Application Insights:
The commercial segment dominated the global ocean energy market in 2017, accounting for over 60% of the overall revenue share. The segment is expected to witness significant growth on account of increasing government support and initiatives for promoting renewable sources of energy such as wind and solar. For instance, in 2015, the Australian Government announced a AUD 3 billion (USD 250 million) investment to develop Australia¢â‚¬â„¢s offshore wind resources by 2030. This initiative is expected to boost offshore wind power generation capacity by around 70%, from 2016 to 2030.
Residential application was estimated at USD 1,000 million in 2017 owing to rising awareness regarding clean water supply coupled with technological advancements that have led towards increased efficiency when it comes time for installing desalination plants along with other forms of water treatment equipment across various regions globally including Asia Pacific and Middle East & Africa which are further anticipated to drive demand over the forecast period.
Regional Analysis:
The Asia Pacific accounted for the largest revenue share of over 45% in 2017. The region is expected to continue its dominance over the forecast period, with China being a key contributor. The Chinese government has set up a number of marine energy research institutes and offices to develop ocean technology across different applications.
North America is anticipated to witness significant growth owing to rising awareness regarding marine renewable energy technologies among U.S.
Europe was estimated at USD X million in 2017.
Growth Factors:
- Increasing demand for clean and renewable energy: The global increase in population and the consequent increase in energy demand is driving the search for cleaner and more sustainable sources of energy. Ocean energy is a reliable, consistent, and environmentally friendly source of power that can help meet this growing demand.
- Government support: Governments around the world are increasingly supporting ocean energy as a key part of their clean energy strategy. This support is taking many forms, including financial incentives, R&D funding, and policy directives encouraging its development.
- Advances in technology: Ocean Energy technology is constantly evolving, with new devices and systems being developed all the time. This progress is making ocean power increasingly competitive with other forms of renewable energy generation such as wind or solar power.
Scope Of The Report
Report Attributes
Report Details
Report Title
Ocean Energy Market Research Report
By Type
Wave Energy, Others
By Application
Residental, Commerical
By Companies
Able Technologies, L.L.C. (USA), Albatern Ltd. (UK), Applied Technologies Company, Ltd. (Russia), AquaGen Technologies (Australia), Aqua-Magnetics Inc. (USA), Atargis Energy Corporation (USA), Atlantis Resources Ltd. (UK), BioPower Systems Pty. Ltd. (Australia), Blue Energy Canada Inc. (Canada), Carnegie Clean Energy Limited (Australia), Able Technologies, L.L.C. (USA), Nova Innovation Ltd. (UK), Ocean Power Technologies Inc. (USA), Ocean Renewable Power Company, LLC (USA), OpenHydro Group Limited (Ireland), Scotrenewables Tidal Power Ltd. (Scotland), Tocardo International BV (Netherlands), Verdant Power, Inc. (USA)
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
179
Number of Tables & Figures
126
Customization Available
Yes, the report can be customized as per your need.
Global Ocean Energy Market Report Segments:
The global Ocean Energy market is segmented on the basis of:
Types
Wave Energy, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Residental, Commerical
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Able Technologies, L.L.C. (USA)
- Albatern Ltd. (UK)
- Applied Technologies Company, Ltd. (Russia)
- AquaGen Technologies (Australia)
- Aqua-Magnetics Inc. (USA)
- Atargis Energy Corporation (USA)
- Atlantis Resources Ltd. (UK)
- BioPower Systems Pty. Ltd. (Australia)
- Blue Energy Canada Inc. (Canada)
- Carnegie Clean Energy Limited (Australia)
- Able Technologies, L.L.C. (USA)
- Nova Innovation Ltd. (UK)
- Ocean Power Technologies Inc. (USA)
- Ocean Renewable Power Company, LLC (USA)
- OpenHydro Group Limited (Ireland)
- Scotrenewables Tidal Power Ltd. (Scotland)
- Tocardo International BV (Netherlands)
- Verdant Power, Inc. (USA)
Highlights of The Ocean Energy Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Wave Energy
- Others
- By Application:
- Residental
- Commerical
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Ocean Energy Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Ocean Energy is a company that specializes in the development and deployment of offshore wind power. The company has developed several projects around the world, including a project off the coast of Scotland.
Some of the key players operating in the ocean energy market are Able Technologies, L.L.C. (USA), Albatern Ltd. (UK), Applied Technologies Company, Ltd. (Russia), AquaGen Technologies (Australia), Aqua-Magnetics Inc. (USA), Atargis Energy Corporation (USA), Atlantis Resources Ltd. (UK), BioPower Systems Pty. Ltd. (Australia), Blue Energy Canada Inc. (Canada), Carnegie Clean Energy Limited (Australia), Able Technologies, L.L.C. (USA), Nova Innovation Ltd. (UK), Ocean Power Technologies Inc. (USA), Ocean Renewable Power Company, LLC (USA), OpenHydro Group Limited (Ireland), Scotrenewables Tidal Power Ltd. (Scotland), Tocardo International BV (Netherlands), Verdant Power, Inc. (USA).
The ocean energy market is expected to grow at a compound annual growth rate of 10.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Ocean Energy Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Ocean Energy Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Ocean Energy Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Ocean Energy Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Ocean Energy Market Size & Forecast, 2020-2028
4.5.1 Ocean Energy Market Size and Y-o-Y Growth
4.5.2 Ocean Energy Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Wave Energy
5.2.2 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Residental
6.2.2 Commerical
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Ocean Energy Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Ocean Energy Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Wave Energy
9.6.2 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Residental
9.10.2 Commerical
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Wave Energy
10.6.2 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Residental
10.10.2 Commerical
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Wave Energy
11.6.2 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Residental
11.10.2 Commerical
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Wave Energy
12.6.2 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Residental
12.10.2 Commerical
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Wave Energy
13.6.2 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Residental
13.10.2 Commerical
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Ocean Energy Market: Competitive Dashboard
14.2 Global Ocean Energy Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Able Technologies, L.L.C. (USA)
14.3.2 Albatern Ltd. (UK)
14.3.3 Applied Technologies Company, Ltd. (Russia)
14.3.4 AquaGen Technologies (Australia)
14.3.5 Aqua-Magnetics Inc. (USA)
14.3.6 Atargis Energy Corporation (USA)
14.3.7 Atlantis Resources Ltd. (UK)
14.3.8 BioPower Systems Pty. Ltd. (Australia)
14.3.9 Blue Energy Canada Inc. (Canada)
14.3.10 Carnegie Clean Energy Limited (Australia)
14.3.11 Able Technologies, L.L.C. (USA)
14.3.12 Nova Innovation Ltd. (UK)
14.3.13 Ocean Power Technologies Inc. (USA)
14.3.14 Ocean Renewable Power Company, LLC (USA)
14.3.15 OpenHydro Group Limited (Ireland)
14.3.16 Scotrenewables Tidal Power Ltd. (Scotland)
14.3.17 Tocardo International BV (Netherlands)
14.3.18 Verdant Power, Inc. (USA)
