Market Overview:
The global wave energy converters market is expected to grow at a CAGR of 10.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for clean and renewable energy sources across the globe. In addition, government initiatives and regulations supporting the deployment of wave energy converters are also contributing to the growth of this market. The global wave energy converters market is segmented on the basis of type, application, and region. On the basis of type,the market is segmented into point absorbers devices, terminators devices, attenuators devices, oscillating wave surge devices, submerged pressure differential devices,, and rotating massdevices.On themarketbyregion,-North America,-Latin America,-Europe,-Asia Pacific-and-Middle East & Africa are considered.
Product Definition:
Wave energy converters are devices that convert the energy in waves into useful forms of energy, such as electricity or mechanical power. Wave energy converters can be used to generate electricity for homes and businesses, or to power machines such as pumps and desalination plants.
Point Absorbers Devices:
Point absorbers devices, also known as converters or generators, are used to convert the wave energy into electrical energy. They are mainly used in marine and coastal areas where waves have a constructive impact on the power generation process. Point absorbers generate electricity by using moving water which is usually done through turbines or electrodialysis systems. The point absorber’s efficiency depends on various factors such as flow rate of water, turbulence of water and temperature of seawater among others.
Terminators Devices:
The Terminators devices are used in wave energy converters (WECs) to convert the waves into electrical energy. The WECs use this electrical energy for generating electricity. They are available in different shapes and sizes, which help them to generate different types of electric fields with various intensities and directions.
Application Insights:
The power generation segment dominated the global market in terms of revenue share in 2017. The growing demand for electricity from the industrial and residential sectors is expected to drive the growth of this application segment over the forecast period. Wave energy can be utilized to generate power across multiple applications, including desalination plants, offshore wind turbines, and marine energy converters.
The environmental protection segment is anticipated to witness significant growth over the forecast period owing to rising concerns regarding greenhouse gas emissions and air pollution. Several governments are taking initiatives towards installation of large-scale renewable sources of energy that do not involve combustion engines or fossil fuels such as coal; these initiatives are expected to increase investments for development onshore and offshore wind farms which use WECs as a source of renewable electricity generating capacity.
Regional Analysis:
The Asia Pacific regional market accounted for the largest share in 2017 and is expected to continue its dominance over the forecast period. The region has a large number of underutilized resources that can be utilized through wave energy converters. Countries such as China, Australia, South Korea, Japan are some of the major players operating in this industry. Increasing government funding and favorable policies are anticipated to drive regional growth during the forecast period.
North America is projected to grow at a significant rate over the coming years owing to increasing investments by countries such as U.S.
Growth Factors:
- Increasing demand for clean and renewable energy sources
- Government initiatives and subsidies for wave energy converters
- Rising awareness about the benefits of wave energy converters
- Technological advancements in wave energy converter technology
- Growing demand from commercial and industrial sectors
Scope Of The Report
Report Attributes
Report Details
Report Title
Wave Energy Converters Market Research Report
By Type
Point Absorbers Devices, Terminators Devices, Attenuators Devices, Oscillating Wave Surge Devices, Submerged Pressure Differential Devices, Rotating Mass Devices
By Application
Desalination, Power Generation, Environmental Protection, Other
By Companies
Ocean Power Technologies, Eco Wave Power, Carnegie Clean Energy, Sinn Power, Amog Consulting, Nemos, Oceanenergy, Wave Swell, Aws Ocean Energy, Corpower Ocean, Limerick Wave, Arrecife Energy Systems, Accumulated Ocean Energy, Havkraft AS, OWECO
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
195
Number of Tables & Figures
137
Customization Available
Yes, the report can be customized as per your need.
Global Wave Energy Converters Market Report Segments:
The global Wave Energy Converters market is segmented on the basis of:
Types
Point Absorbers Devices, Terminators Devices, Attenuators Devices, Oscillating Wave Surge Devices, Submerged Pressure Differential Devices, Rotating Mass Devices
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
Desalination, Power Generation, Environmental Protection, Other
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:
- Ocean Power Technologies
- Eco Wave Power
- Carnegie Clean Energy
- Sinn Power
- Amog Consulting
- Nemos
- Oceanenergy
- Wave Swell
- Aws Ocean Energy
- Corpower Ocean
- Limerick Wave
- Arrecife Energy Systems
- Accumulated Ocean Energy
- Havkraft AS
- OWECO
Highlights of The Wave Energy Converters 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:
- Point Absorbers Devices
- Terminators Devices
- Attenuators Devices
- Oscillating Wave Surge Devices
- Submerged Pressure Differential Devices
- Rotating Mass Devices
- By Application:
- Desalination
- Power Generation
- Environmental Protection
- Other
- 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 Wave Energy Converters 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?
Wave energy converters are devices that use the power of waves to convert mechanical or electrical energy into electricity. Wave energy converters can be used in a variety of applications, such as generating electricity from waves onshore or offshore, powering ships and boats, and providing backup power for critical infrastructure.
Some of the key players operating in the wave energy converters market are Ocean Power Technologies, Eco Wave Power, Carnegie Clean Energy, Sinn Power, Amog Consulting, Nemos, Oceanenergy, Wave Swell, Aws Ocean Energy, Corpower Ocean, Limerick Wave, Arrecife Energy Systems, Accumulated Ocean Energy, Havkraft AS, OWECO.
The wave energy converters 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 Wave Energy Converters 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 Wave Energy Converters Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Wave Energy Converters 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 Wave Energy Converters 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 Wave Energy Converters Market Size & Forecast, 2020-2028
4.5.1 Wave Energy Converters Market Size and Y-o-Y Growth
4.5.2 Wave Energy Converters 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 Point Absorbers Devices
5.2.2 Terminators Devices
5.2.3 Attenuators Devices
5.2.4 Oscillating Wave Surge Devices
5.2.5 Submerged Pressure Differential Devices
5.2.6 Rotating Mass Devices
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 Desalination
6.2.2 Power Generation
6.2.3 Environmental Protection
6.2.4 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Wave Energy Converters 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 Wave Energy Converters 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 Point Absorbers Devices
9.6.2 Terminators Devices
9.6.3 Attenuators Devices
9.6.4 Oscillating Wave Surge Devices
9.6.5 Submerged Pressure Differential Devices
9.6.6 Rotating Mass Devices
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 Desalination
9.10.2 Power Generation
9.10.3 Environmental Protection
9.10.4 Other
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 Point Absorbers Devices
10.6.2 Terminators Devices
10.6.3 Attenuators Devices
10.6.4 Oscillating Wave Surge Devices
10.6.5 Submerged Pressure Differential Devices
10.6.6 Rotating Mass Devices
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 Desalination
10.10.2 Power Generation
10.10.3 Environmental Protection
10.10.4 Other
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 Point Absorbers Devices
11.6.2 Terminators Devices
11.6.3 Attenuators Devices
11.6.4 Oscillating Wave Surge Devices
11.6.5 Submerged Pressure Differential Devices
11.6.6 Rotating Mass Devices
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 Desalination
11.10.2 Power Generation
11.10.3 Environmental Protection
11.10.4 Other
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 Point Absorbers Devices
12.6.2 Terminators Devices
12.6.3 Attenuators Devices
12.6.4 Oscillating Wave Surge Devices
12.6.5 Submerged Pressure Differential Devices
12.6.6 Rotating Mass Devices
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 Desalination
12.10.2 Power Generation
12.10.3 Environmental Protection
12.10.4 Other
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 Point Absorbers Devices
13.6.2 Terminators Devices
13.6.3 Attenuators Devices
13.6.4 Oscillating Wave Surge Devices
13.6.5 Submerged Pressure Differential Devices
13.6.6 Rotating Mass Devices
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 Desalination
13.10.2 Power Generation
13.10.3 Environmental Protection
13.10.4 Other
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 Wave Energy Converters Market: Competitive Dashboard
14.2 Global Wave Energy Converters Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Ocean Power Technologies
14.3.2 Eco Wave Power
14.3.3 Carnegie Clean Energy
14.3.4 Sinn Power
14.3.5 Amog Consulting
14.3.6 Nemos
14.3.7 Oceanenergy
14.3.8 Wave Swell
14.3.9 Aws Ocean Energy
14.3.10 Corpower Ocean
14.3.11 Limerick Wave
14.3.12 Arrecife Energy Systems
14.3.13 Accumulated Ocean Energy
14.3.14 Havkraft AS
14.3.15 OWECO
