Marine Power (Wave and Tidal) Market (Updated Version Available)

Marine energy or marine power (also sometimes referred to as ocean energy, ocean power, or marine and hydrokinetic energy) refers to the energy carried by ocean waves, tides, salinity, and ocean temperature differences. The movement of water in the world\'s oceans creates a vast store of kinetic energy, or energy in motion. This energy can be harnessed to generate electricity to power homes, transport and industries.
The year 2015 represented a significant milestone for the sector from a policy standpoint, with the publication of the Blue Energy Communication, the establishment of the Ocean Energy Forum and the European Technology and Innovation Platform for Ocean Energy (TIP). The announcement of the awards for the second NER 300 call has seen the number of ocean energy arrays expected to be deployed in European waters by 2018 or earlier rising to five. On the other hand, forecasts of expected ocean energy capacity by 2020 have been further reduced, due to the slow technological progress of the sector and difficulties in attracting funds and financing. The slow growth of the sector and delays in the formation of the market have forced key developers and OEMs to either downsize or withdraw their interest in developing ocean energy technology.

The ocean energy market is still in its infancy, and whilst foundations for its growth have been put in place, the sector seeks to further prove the reliability of its technology moving towards demonstration of pre-commercial arrays. A number of key developments have been seen in 2014 to ensure the establishment of ocean energy markets in Europe and worldwide, including:
• About 30 tidal and 45 wave energy companies are currently at an advanced stage of technological development, with a number of technologies nearing pre-commercial array demonstration and others deploying full-scale prototypes in real-sea environments.

• Europe could see up to 40 MW of tidal installed capacity by 2018, and 26 MW of wave energy capacity, if proposed and awarded projects go ahead and reach financial close.

• The deployment of the first tidal energy array is expected for 2016 in the UK, with MeyGen becoming the first ocean energy project to reach financial close. The tidal sector has seen an increased participation of OEMs in the development of technology and in promoting tidal farms across Europe; however, the costs and reliability of technologies will be paramount in assuring further developments. The development of second- and third-generation tidal technologies is opening up possibilities for cost reduction as well as deployments in low-energy-density water.

• The development of wave energy technologies is lagging behind that of tidal energy. However, deployment projects are currently taking place in Europe, the US and Australia. The sector is, however, seeing intensified collaboration to identify common PTO solutions.
• OTEC and salinity gradient technologies are developing demonstration plants. A 10 MW OTEC plant has been awarded funds through NER 300, whilst a 50 kW salinity gradient pilot-plant began operation in the Netherlands.


The report offers detailed coverage of Marine Power (Wave and Tidal) industry and main market trends. The market research includes historical and forecast market data, demand, application details, price trends, and company shares of the leading Marine Power (Wave and Tidal) by geography. The report splits the market size, by volume and value, on the basis of application type and geography.

The report forecast global Marine Power (Wave and Tidal) market to grow to reach xxx Million USD in 2020 with a CAGR of xx% during the period 2021-2025.

First, this report covers the present status and the future prospects of the global Marine Power (Wave and Tidal) market for 2015-2025.
And in this report, we analyze global market from 5 geographies: Asia-Pacific[China, Southeast Asia, India, Japan, Korea, Western Asia], Europe[Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland], North America[United States, Canada, Mexico], Middle East & Africa[GCC, North Africa, South Africa], South America[Brazil, Argentina, Columbia, Chile, Peru].

Key Companies
Wello Oy
Pulse Tidal
Oceanlinx
Marine Current Turbines (MCT)
ORPC
OpenHydro
BioPower Systems
AWS Ocean Energy
Voith Hydro
Ocean Power Technologies
Aquamarine Power
Carnegie Wave Energy
Verdant Power

At the same time, we classify Marine Power (Wave and Tidal) according to the type, application by geography. More importantly, the report includes major countries market based on the type and application.

Market Segment as follows:
Market by Order Type
Wave Power
Tidal Power
Market by Application
Industrial Applications
Commercial Applications
Others

By Region
Asia-Pacific[China, Southeast Asia, India, Japan, Korea, Western Asia]
Europe[Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
North America[United States, Canada, Mexico]
Middle East & Africa[GCC, North Africa, South Africa]
South America[Brazil, Argentina, Columbia, Chile, Peru]

The research provides answers to the following key questions:
• What is the estimated growth rate and market share and size of the Marine Power (Wave and Tidal) market for the forecast period 2021 - 2025?
• What are the driving forces in the Marine Power (Wave and Tidal) market for the forecast period 2021 - 2025?
• Who are the prominent market players and how have they gained a competitive edge over other competitors?
• What are the market trends influencing the progress of the Marine Power (Wave and Tidal) industry worldwide?
• What are the major challenges and threats restricting the progress of the industry?
• What opportunities does the market hold for the prominent market players?