The global ocean power market size was US$ 0.6 billion in 2021. The global ocean power market size is forecast to reach US$ 7.8 billion by 2030, growing at a compound annual growth rate (CAGR) of 21.4% during the forecast period from 2022 to 2030.
Ocean power is the energy produced by sea-based sources such as tidal stream wave energy and tidal barrages. Ocean power is a possible renewable energy source for meeting global climate change goals, and broader environmental, socioeconomic, and sustainability goals. Power generating, water pumping, and tidal streams are examples of applications that use ocean power. Ocean power has a number of major benefits, including lower carbon emissions, increased energy reliability and security, and lower costs.
Factors Influencing Market Growth
Impact Analysis of COVID-19
Due to the COVID-19 pandemic, a temporary prohibition on import and export, manufacturing, and processing activities across multiple industries has reduced demand for ocean power components from the construction businesses. Furthermore, a pause in the construction of renewable ocean power plants due to a lack of employees and an increase in the demand-supply imbalance hampered the expansion of the ocean power market throughout the pandemic period.
Regional Insights
Europe accounted for the major market share in 2021 and is forecast to remain dominant during the forecast period. As a result of the large prominent companies and consumer base. In addition, rising investments and R&D towards the commercialization of ocean power to accomplish future renewable energy targets by European Union member states are forecast to fuel the market growth in the region.
Leading Competitors
The leading prominent companies profiled in the global ocean power market are:
Scope of the Report
The global ocean power market segmentation focuses on Type, Application, and Region.
Segmentation based on Type
Segmentation based on Application
Segmentation based on Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL OCEAN POWER MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
4 GLOBAL OCEAN POWER MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE MODEL
4.4 VALUE CHAIN ANALYSIS
5 GLOBAL OCEAN POWER MARKET, BY TYPE
5.1 OVERVIEW
5.2 TIDAL BARRAGES
5.3 TIDAL STREAM
5.4 WAVE ENERGY
5.5 OTHERS
6 GLOBAL OCEAN POWER MARKET, BY APPLICATION
6.1 OVERVIEW
6.2 POWER GENERATION
6.3 DESALINATION
6.4 WATER PUMPING
7 GLOBAL OCEAN POWER MARKET, BY GEOGRAPHY
7.1 OVERVIEW
7.2 NORTH AMERICA
7.2.1 NORTH AMERICA MARKET SNAPSHOT
7.2.2 U.S.
7.2.3 CANADA
7.2.4 MEXICO
7.3 EUROPE
7.3.1 EUROPE MARKET SNAPSHOT
7.3.2 WESTERN EUROPE
7.3.2.1 THE UK
7.3.2.2 GERMANY
7.3.2.3 FRANCE
7.3.2.4 ITALY
7.3.2.5 SPAIN
7.3.2.6 REST OF WESTERN EUROPE
7.3.3 EASTERN EUROPE
7.3.3. 1 POLAND
7.3.3.2 RUSSIA
7.3.3.3 REST OF EASTERN EUROPE
7.4 ASIA PACIFIC
7.4.1 ASIA PACIFIC MARKET SNAPSHOT
7.4.2 CHINA
7.4.3 JAPAN
7.4.4 INDIA
7.4.5 AUSTRALIA & NEW ZEALAND
7.4.6 ASEAN
7.4.7 REST OF ASIA PACIFIC
7.5 MIDDLE EAST & AFRICA
7.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
7.5.2 UAE
7.5.3 SAUDI ARABIA
7.5.4 SOUTH AFRICA
7.5.5 REST OF MEA
7.6 SOUTH AMERICA
7.6.1 SOUTH AMERICA MARKET SNAPSHOT
7.6.2 BRAZIL
7.6.3 ARGENTINA
7.6.4 REST OF SOUTH AMERICA
8 GLOBAL OCEAN POWER MARKET COMPETITIVE LANDSCAPE
8.1 OVERVIEW
8.2 COMPANY MARKET RANKING
8.3 KEY DEVELOPMENT STRATEGIES
9 COMPANY PROFILES
9.1 APPLIED TECHNOLOGIES COMPANY, LIMITED
9.1.1 OVERVIEW
9.1.2 FINANCIAL PERFORMANCE
9.1.3 PRODUCT OUTLOOK
9.1.4 KEY DEVELOPMENTS
9.2 AQUA-MAGNETICS, INCORPORATED
9.2.1 OVERVIEW
9.2.2 FINANCIAL PERFORMANCE
9.2.3 PRODUCT OUTLOOK
9.2.4 KEY DEVELOPMENTS
9.3 ATARGIS ENERGY CORPORATION
9.3.1 OVERVIEW
9.3.2 FINANCIAL PERFORMANCE
9.3.3 PRODUCT OUTLOOK
9.3.4 KEY DEVELOPMENTS
9.4 BIOPOWER SYSTEMS PTY LIMITED
9.4.1 OVERVIEW
9.4.2 FINANCIAL PERFORMANCE
9.4.3 PRODUCT OUTLOOK
9.4.4 KEY DEVELOPMENTS
9.5 BLUE ENERGY CANADA, INCORPORATED
9.5.1 OVERVIEW
9.5.2 FINANCIAL PERFORMANCE
9.5.3 PRODUCT OUTLOOK
9.5.4 KEY DEVELOPMENTS
9.6 CARNEGIE CLEAN ENERGY LIMITED
9.6.1 OVERVIEW
9.6.2 FINANCIAL PERFORMANCE
9.6.3 PRODUCT OUTLOOK
9.6.4 KEY DEVELOPMENTS
9.7 MINESTO AB
9.7.1 OVERVIEW
9.7.2 FINANCIAL PERFORMANCE
9.7.3 PRODUCT OUTLOOK
9.7.4 KEY DEVELOPMENTS
9.8 NOVA INNOVATION LIMITED
9.8.1 OVERVIEW
9.8.2 FINANCIAL PERFORMANCE
9.8.3 PRODUCT OUTLOOK
9.8.4 KEY DEVELOPMENTS
9.9 OCEAN POWER TECHNOLOGIES, INCORPORATED
9.9.1 OVERVIEW
9.9.2 FINANCIAL PERFORMANCE
9.9.3 PRODUCT OUTLOOK
9.9.4 KEY DEVELOPMENTS
9.10 OCEAN RENEWABLE POWER COMPANY LLC
9.10.1 OVERVIEW
9.10.2 FINANCIAL PERFORMANCE
9.10.3 PRODUCT OUTLOOK
9.10.4 KEY DEVELOPMENTS
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