Industry Background:
Tidal Energy is also known as tidal power is the form of marine energy obtained from tides and waves. It is formed using hydropower, which transforms energy gained from tides to power. A turbine converts tide to first in kinetic energy and then electric energy. It is a renewable energy resource. Tidal energy is defined as the energy of the ocean surface waves, which is captured for electricity generation, desalination, and the pumping of water into lakes. Tidal energy is considered to be the most capable green technology as they make the maximum concentrated source of renewable energy. Oceans are an unlimited source of clean energy.
According to AMA Research, the market for Tidal Energy is expected to register a CAGR of 26.4% during the forecast period to 2030. This growth is primarily driven by Essential to Replace Fossils Fuels
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | K tones |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Energy & Resources sector in the Europe region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as Aquamarine Power ltd (United Kingdom), Carnegie Wave Energy Ltd. (Australia), Pelamis Wave Power Ltd. (United Kingdom), Tenax Energy (Australia), S.D.E. Energy Ltd. (South Korea), HydroQuest SAS (France), AquaGen Technologies (Israel), Atlantis Resources Ltd. (United Kingdom), Ocean Power Technologies, Inc. (United States) and Ocean Renewable Power Company LLC (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In October 2020, Tocardo acquired 1.25MW Oosterschelde Tidal Power Plant, the largest tidal array in the world installed on the Dutch icon Oosterscheldekering. They acquired follows the successful technical due diligence phase during September 2020. The project important step for the global tidal energy sector and for clean energy future.
In July 2023, Swedish tidal energy company Minesto has completed the installation of subsea infrastructure and verified the launch and recovery procedures for the 1.2 MW tidal energy device that will soon be deployed offshore Faroe Islands.Tidal Energy is a fragmented market due to the presence of various players. The players are focusing on strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Influencing Trend:
Government Initiation to Promote Tidal Energy and Rising Research and Development Activities
Market Growth Drivers:
Essential to Replace Fossils Fuels and Enlarged funds in Renewable Energy Resources
Challenges:
Environmental Obstacles
Restraints:
High Cost for Plant Formation
Opportunities:
Development of Tidal Stream Power Plants and Increasing Electricity Demand in Emerging Nations
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Tidal Energy Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Tidal Energy Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Tidal Energy players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Tidal Energy Study Sheds Light on
The Tidal Energy Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Tidal Energy industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Tidal Energy industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.