Global Marine Power Market Overview:
Marine power is also known as marine energy or hydrokinetic energy referred to as renewable energy which can be generated for oceans and seas the world. The waves and tides are used to produce electricity by the stored heat of the surface water. This tidal energy, wave energy, ocean current energy, etc have the huge capability of priding the consistent and affordable clean energy to the world. According to the government reports electricity generation form marine technologies has been increased by 3% in 2018, it is not fully on track yet. It requires a much higher annual growth rate of 24% through 2030, for these policies and research and development is in the process to reduce the cost and increase the large scale development. Some of the key players profiled in the study are ORPC, Inc. (Ocean Renewable Power Company) (United States), Aquamarine Power (United Kingdom), AWS Ocean Energy Ltd (United Kingdom), Carnegie Clean Energy (Australia), Ocean Power Technologies, Inc. (United States), Verdant Power (United States), Enel Green Power S.p.A (Italy), Voith GmbH & Co. KGaA (Germany), BioPower Systems Pty Ltd (BPS) (Australia) and Wello Oy (Finland).
On the basis of geography, the market of Marine Power has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
- Increasing Demand for Power or Energy Globally
- Growing Research and Development in the Power Generation Industry
- Emerging Test Centers for Commercialisation of Marine Power Systems
- Economic Cost Associated with the Marine Power Technologies
- Stringent Regulatory Norms
- Adverse Effects of Marine Power Generation on Environment Primarily Aquatic Animals
- Government Support and Investment in Marine Power will Increase the Market Growth
- The Growing Tidal Energy Sector is Boosting the Market
- Problems Associated with Installation, Maintenance, and Operation of Marine Technologies
"The U.S. Department of Energy partnered with the International Energy Agency’s Ocean Energy Systems initiative to create Tethys, a database and knowledge management system that provides access to information and research about the potential environmental effects of offshore wind and marine and hydrokinetic development. Tethys also hosts data from Annex IV, an international collaboration to gather information on MHK environmental research worldwide."
Target Audience:Marine Power Producer, Marine Power System and Device Manufacturers, Research and Development Institutes, Regulatory Bodies, Industry Association, Financial Institutes, Potential Investors and Others
Major Objectives Focused through this Study To define, describe, and forecast the Global Marine Power market on the basis of product [Wave Energy ( Absorbers, Attenuators, Others), Tidal Energy (Tidal Streams, Barrages, Others), Ocean Current Energy, Ocean Thermal Energy and Osmotic Energy] , application [Industrial, Commercial and Others], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Marine Power market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Marine Power industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Manufacturers which are also part of the research are .
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Marine Power market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.