Ocean Energy Market Scope
The increasing demand of clean energy development and reducing the dependency on fossil fuels are identified as a key market trend that will gain traction in upcoming years. The European Union creates a strong environment mission for the development of ocean energy, improves access to funding and enhance business opportunities for their state members.
The market study is being classified by Type (Tidal Stream, Wave and Ocean Thermal Energy Conversion (OTEC)), by Application (Industrial, Residental and Commerical) and major geographies with country level break-up. According to AMA, the Global Ocean Energy market is expected to see growth rate of 37.8%
Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Ocean Energy market throughout the predicted period.
Able Technologies, LLC. (United States), Albatern Ltd. (United Kingdom), Applied Technologies Company, Ltd. (Russia), AquaGen Technologies (Australia), Aqua-Magnetics Inc. (United States), Atargis Energy Corporation (United States), Atlantis Resources Ltd. (United Kingdom), BioPower Systems Pty. Ltd. (Australia), Blue Energy Canada Inc. (Canada), Carnegie Clean Energy Limited (Australia), Minesto AB (Sweden), Nova Innovation Ltd. (United Kingdom), Ocean Power Technologies Inc. (United States) and Ocean Renewable Power Company LLC (United States) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are OpenHydro Group Limited (Ireland), Scotrenewables Tidal Power Ltd. (Scotland), Tocardo International BV (Netherlands) and Verdant Power, Inc. (United States).
AdvanceMarketAnalytics has segmented the market of Global Ocean Energy market by Type, Application and Region.
On the basis of geography, the market of Ocean Energy 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).
In the European Region, the Renewable Energy Directive (Directive 2009/28/EC) (amending and subsequently repealing Directives 2001/77/EC and 2003/30) on the promotion of the use of energy from renewable sources. The directive aims at reaching 20% share of energy from renewable sources by 2020 in the EU, and provide a target for a minimum share of final energy consumption per each Member State. and Environmental reviews are carried out by the Australian Government under the Environment Protection and Biodiversity Conservation Act 1999 and require an environmental assessment. Marine energy projects can obtain consent under the Coastal Management Act 1995. Consent is then administered at the state level.
- Stringent Environmental Regulations Regarding Carbon Emissions Associated with Non-Renewable Energy Generation Across the Globe
- Increasing Popularity of the Blockchain Technology in the Energy Sector
- Rising Concerns Regarding Energy Security and Faltering Crude Oil Prices
- Increasing Venture Funding and Investments in the Ocean Energy
- The Growth in the Adoption of Renewable Energy Generation
- Lack of A Common Set of Regulatory Standards and Uncertain Regulatory Landscape
- Concerns Related to the Authenticity of Users
- High Initial Investment Costs
- Lack of Market Oriented Electricity Pricing Various Developed Countries
- Lack of Awareness and Technology in Developing Countries
Key Target AudienceOcean Energy Producers, Machine and Equipment Suppliers, Government Organizations, Technology Providers and Others
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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