Market Overview:
The global marine 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 marine energy market can be attributed to the increasing demand for renewable energy and the need for clean and reliable power sources. The wave energy segment is expected to hold the largest share of the global marine energy market in 2018, owing to its high potential for generating electricity and low environmental impact as compared with other forms of renewable energies such as solar.
Product Definition:
Marine energy is the capture of energy from ocean waves, tides, and currents. Marine energy technologies include wave power, tidal power, and ocean current power.
Wave Energy:
Wave energy is the kinetic energy generated by waves in water. The wave motion can be used to generate electricity using various technologies. Wave energy conversion systems use a moving part to convert the wave's kinetic energy into electrical power. Various technologies include converting the vertical movement of waves into mechanical work, horizontal movement of waves into electric current, and changing wind direction with tidal movements etc.
Tidal Energy:
Tidal energy is the kinetic energy generated by the movement of water. The most common form of tidal energy conversion is through hydropower. Tidal range is the difference in high and low water levels observed daily at a given location. The average range for a particular location provides an important measure to evaluate tidal power generation projects since it directly affects the size and design of turbines used for electricity production.
Application Insights:
The other applications of marine energy include environmental protection, research and development. The commercial application segment accounted for the largest share in 2017 owing to the rising demand from oil & gas companies for deep-water exploration. Wave and tidal energy are widely used in commercial applications as they are cost-effective sources of renewable electricity compared to solar or wind power.
Industrial applications dominated the market due to extensive usage by major shipping companies such as CMA CGM, MSC Napoli, MOLSON Co., LTD., etc. for cargo transportation between European countries.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. China accounted for a major share of the regional market owing to large-scale deployment of marine energy devices in order to meet growing energy demand. The country has also introduced several initiatives for developing its offshore wind power capacity, which is further anticipated to drive growth over the next eight years.
Europe was estimated as being second largest region by application and is expected reach maturity during the forecast period owing to development of onshore & offshore wind farms along with tidal barrage projects in UK and Denmark among other countries. However, lack of government support coupled with financial crisis has hampered growth prospects across most European countries resulting into lower penetration rates than projecteded during project conception stage itself thereby hampering overall industry expansion rate from 2016 till date as well (see Table 1).
Growth Factors:
- Increasing demand for clean and renewable energy sources
- Government initiatives and subsidies for marine energy development
- Rising prices of traditional fuels such as oil, gas, and coal
- Rapid technological advancements in marine energy systems
- Growing awareness about the benefits of using marine energy
Scope Of The Report
Report Attributes
Report Details
Report Title
Marine Energy Market Research Report
By Type
Wave Energy, Tidal Energy, Ocean Thermal Energy, Other
By Application
Industrial Applications, Commercial Applications, Other
By Companies
Wello Oy, Pulse Tidal, Oceanlinx, Marine Current Turbines (MCT), ORPC, OpenHydro, BioPower Systems, AWS Ocean Energy, Voith Hydro, Carnegie Clean Energy, Aquamarine Power, Ocean Power Technologies, Verdant Power
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
239
Number of Tables & Figures
168
Customization Available
Yes, the report can be customized as per your need.
Global Marine Energy Market Report Segments:
The global Marine Energy market is segmented on the basis of:
Types
Wave Energy, Tidal Energy, Ocean Thermal Energy, Other
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
Industrial Applications, Commercial Applications, 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:
- Wello Oy
- Pulse Tidal
- Oceanlinx
- Marine Current Turbines (MCT)
- ORPC
- OpenHydro
- BioPower Systems
- AWS Ocean Energy
- Voith Hydro
- Carnegie Clean Energy
- Aquamarine Power
- Ocean Power Technologies
- Verdant Power
Highlights of The Marine 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
- Tidal Energy
- Ocean Thermal Energy
- Other
- By Application:
- Industrial Applications
- Commercial Applications
- 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 Marine 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?
Marine energy is the use of energy from the ocean to generate electricity. Marine energy can be used to power ships, offshore platforms, and coastal installations.
Some of the major players in the marine energy market are Wello Oy, Pulse Tidal, Oceanlinx, Marine Current Turbines (MCT), ORPC, OpenHydro, BioPower Systems, AWS Ocean Energy, Voith Hydro, Carnegie Clean Energy, Aquamarine Power, Ocean Power Technologies, Verdant Power.
The marine energy market is expected to register a CAGR of 10.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Marine Energy Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Marine Energy Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Marine Energy Market - Supply Chain
4.5. Global Marine Energy Market Forecast
4.5.1. Marine Energy Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Marine Energy Market Size (000 Units) and Y-o-Y Growth
4.5.3. Marine Energy Market Absolute $ Opportunity
5. Global Marine Energy Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Marine Energy Market Size and Volume Forecast by Type
5.3.1. Wave Energy
5.3.2. Tidal Energy
5.3.3. Ocean Thermal Energy
5.3.4. Other
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Marine Energy Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Marine Energy Market Size and Volume Forecast by Application
6.3.1. Industrial Applications
6.3.2. Commercial Applications
6.3.3. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Marine Energy Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Marine Energy Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Marine Energy Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Marine Energy Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Marine Energy Demand Share Forecast, 2019-2026
9. North America Marine Energy Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Marine Energy Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Marine Energy Market Size and Volume Forecast by Application
9.4.1. Industrial Applications
9.4.2. Commercial Applications
9.4.3. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Marine Energy Market Size and Volume Forecast by Type
9.7.1. Wave Energy
9.7.2. Tidal Energy
9.7.3. Ocean Thermal Energy
9.7.4. Other
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Marine Energy Demand Share Forecast, 2019-2026
10. Latin America Marine Energy Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Marine Energy Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Marine Energy Market Size and Volume Forecast by Application
10.4.1. Industrial Applications
10.4.2. Commercial Applications
10.4.3. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Marine Energy Market Size and Volume Forecast by Type
10.7.1. Wave Energy
10.7.2. Tidal Energy
10.7.3. Ocean Thermal Energy
10.7.4. Other
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Marine Energy Demand Share Forecast, 2019-2026
11. Europe Marine Energy Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Marine Energy Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Marine Energy Market Size and Volume Forecast by Application
11.4.1. Industrial Applications
11.4.2. Commercial Applications
11.4.3. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Marine Energy Market Size and Volume Forecast by Type
11.7.1. Wave Energy
11.7.2. Tidal Energy
11.7.3. Ocean Thermal Energy
11.7.4. Other
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attrctiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Marine Energy Demand Share, 2019-2026
12. Asia Pacific Marine Energy Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Marine Energy Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Marine Energy Market Size and Volume Forecast by Application
12.4.1. Industrial Applications
12.4.2. Commercial Applications
12.4.3. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Marine Energy Market Size and Volume Forecast by Type
12.7.1. Wave Energy
12.7.2. Tidal Energy
12.7.3. Ocean Thermal Energy
12.7.4. Other
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Marine Energy Demand Share, 2019-2026
13. Middle East & Africa Marine Energy Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Marine Energy Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Marine Energy Market Size and Volume Forecast by Application
13.4.1. Industrial Applications
13.4.2. Commercial Applications
13.4.3. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Marine Energy Market Size and Volume Forecast by Type
13.7.1. Wave Energy
13.7.2. Tidal Energy
13.7.3. Ocean Thermal Energy
13.7.4. Other
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Marine Energy Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Marine Energy Market: Market Share Analysis
14.2. Marine Energy Distributors and Customers
14.3. Marine Energy Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Wello Oy
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Pulse Tidal
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Oceanlinx
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Marine Current Turbines (MCT)
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. ORPC
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. OpenHydro
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. BioPower Systems
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. AWS Ocean Energy
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Voith Hydro
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Carnegie Clean Energy
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Aquamarine Power
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Ocean Power Technologies
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Verdant Power
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
