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Wave And Tidal Energy Market Segmentation By Energy Type, Region And Forecasts To 2025 : Grand View Research Inc.

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Wave And Tidal Energy Market Segmentation By Energy Type, Region And Forecasts To 2025 : Grand View Research Inc.

December 03
08:46 2019
Wave And Tidal Energy Market Segmentation By Energy Type, Region And Forecasts To 2025 : Grand View Research Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, The global wave and tidal energy market size was valued at USD 212.7 million in 2016, growing at a CAGR of 42.5% over the forecast period.

The global wave and tidal energy market size is expected to reach USD 3.9 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a 42.5% CAGR during the forecast period. Need to reduce dependency on fossil fuels, increasing investments, and supportive government regulations are likely to fuel market growth over the coming years.

The renewable energy sector has witnessed significant expansion in terms of installations worldwide in 2016. The capacities in wind, marine, solar, waste-to-energy, small geothermal and hydro sources, and biomass combined added up to 138.5 GW in 2016, up from 127.5 GW in 2015. Investments in electricity generation through novel renewable sources was twice in comparison to fossil fuels.

Ocean energy is witnessing significant development in terms of new projects in various economies including U.K., Ireland, Sweden, Portugal, Thailand, India, Japan, China, Canada, and U.S., which is likely to fuel market growth over the coming years. However, high cost and socio-economic and environmental barriers are likely to restrain the development of the market over the forecast period.

North America wave & tidal energy market, by energy type, 2014 - 2025 (USD Million)

Request a sample Copy of the Wave And Tidal Energy Market Research Report @ https://www.grandviewresearch.com/industry-analysis/wave-energy-market/request/rs1

Key Takeways Of The Report :

  • The wave energy segment is likely to register significant growth in the coming years on account of extensive R&D and new project developments in numerous economies including Ireland, Sweden, Portugal, U.S., China, and New Zealand

  • The tidal segment dominated the market on account of high technological know-how. However, environmental concerns related to the technology are likely to restrain its growth

  • Asia Pacific is expected to be a lucrative market for the technology on account of supportive government initiatives

  • The number of companies in the global wave and tidal energy market has registered an increase in recent years. These companies are constantly making significant efforts to advance their technologies and deploy novel and improved equipment

  • R&D, new project developments, partnerships, and acquisitions are some of the major strategies being adopted by companies in the industry. In November 2016, BPS developed an ocean wave forecasting system for efficient operation of wave energy projects. This technology can also be used for fishing, aquaculture, diving, and oil and gas operations.

Global wave & tidal energy market share, by region, 2016 (%)

Have Any Query? Ask Our Experts @ https://www.grandviewresearch.com/inquiry/1002/ibb

Grand View Research has segmented the global wave and tidal energy market on the basis of energy type and region:

Wave and Tidal Energy Type Outlook (Installed Capacity, Megawatt; Revenue, USD Million, 2014 – 2025)

  • Wave

  • Tidal

Wave and Tidal Energy Regional Outlook (Installed Capacity, Megawatt; Revenue, USD Million, 2014 – 2025)

  • North America

    • Canada

  • Europe

    • U.K.

    • France

  • Asia Pacific

    • China

    • South Korea

Browse Related Report:

Air Core Drilling Market : https://www.grandviewresearch.com/industry-analysis/air-core-drilling-market

Wind Energy Foundation Market : https://www.grandviewresearch.com/industry-analysis/wind-energy-foundation-market

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/wave-energy-market