Tidal Energy Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032

  • Report ID: ME_00130340
  • Format: Electronic (PDF)
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  • Number of Pages: 250
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Market Snapshot

CAGR:5.88
2023
2032

Source: Market Expertz

RND-Favicon
Study Period 2019-2032
Base Year 2023
Forcast Year 2023-2032
CAGR 5.88
Energy & Power-companies
Energy & Power-Snapshot

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Report Overview

Tidal Energy Market Analysis By Application (Power Generation, Desalination, Others), By Type (Tidal Stream Systems, Tidal Range Systems), and By Region Forecast to 2032:

The Tidal Energy Market is projected to experience substantial growth with a Compound Annual Growth Rate (CAGR) of 7.45% between 2022 and 2032. This growth is expected to result in an estimated increase of USD 9,876.54 million in market size. The expansion of this market is influenced by several key factors, including the increasing focus on renewable energy sources, the abundance of tidal energy resources in coastal regions, and advancements in tidal energy technology. Tidal energy refers to the harnessing of energy from the natural rise and fall of ocean tides.

Tidal Energy Market Overview:

Drivers:

One of the primary drivers fueling the growth of the Tidal Energy Market is the growing global emphasis on renewable energy. Tidal energy is considered a clean and sustainable source of power that does not produce greenhouse gas emissions. As countries seek to reduce their carbon footprint and transition to cleaner energy sources, tidal energy projects are gaining traction.

Furthermore, coastal regions with significant tidal ranges present ideal conditions for tidal energy generation. These regions have predictable and consistent tidal patterns, making them suitable for the deployment of tidal energy systems. Governments and energy companies are investing in these areas to tap into this abundant and reliable energy source.

Trends:

An emerging trend in the Tidal Energy Market is the development of tidal stream systems. Tidal stream systems harness the kinetic energy of moving water masses, such as ocean currents. This technology offers a more consistent and reliable energy source compared to tidal range systems, which rely on the rise and fall of tides.

Additionally, tidal energy projects are increasingly integrated with desalination processes. Tidal energy can be used to power desalination plants, providing both clean electricity and freshwater production in regions facing water scarcity.

Restraints:

One of the key challenges hindering the growth of the Tidal Energy Market is the high initial capital investment required for tidal energy projects. The construction and installation of tidal energy systems, including underwater turbines and associated infrastructure, can be expensive. Securing the necessary funding and navigating regulatory approvals can pose challenges for project developers.

Moreover, the environmental impact of tidal energy installations on marine ecosystems is a concern that must be carefully addressed. Ensuring that these installations do not harm local wildlife and habitats is essential for the sustainable development of tidal energy.

Tidal Energy Market Segmentation By Application:

  • Power Generation: Tidal energy is primarily harnessed for power generation. Tidal turbines or underwater turbines convert the kinetic energy of moving water into electricity, which can be integrated into the grid or used for local power supply.
  • Desalination: Tidal energy can be employed to power desalination plants, converting seawater into freshwater. This application addresses water scarcity issues in coastal regions and arid areas.
  • Others: Tidal energy has potential applications beyond power generation and desalination, including aquaculture, offshore platforms, and marine navigation systems.

Tidal Energy Market Segmentation By Type:

  • Tidal Stream Systems: Tidal stream systems capture the kinetic energy of water currents. These systems often use underwater turbines placed on the seabed to generate electricity.
  • Tidal Range Systems: Tidal range systems harness the potential energy created by the difference in water levels between high and low tides. This energy is typically captured using tidal barrages or tidal lagoons.

Regional Overview:


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Coastal regions with significant tidal resources, such as Northern Europe and parts of North America, are expected to be key contributors to the global Tidal Energy Market. These regions have the necessary conditions for tidal energy generation, and several countries have already invested in tidal energy projects.

In addition to established markets, emerging markets in Asia-Pacific and South America are exploring the potential of tidal energy. Governments and energy companies in these regions are increasingly looking to diversify their energy mix with renewable sources like tidal energy.

Tidal Energy Market Customer Landscape:

The Tidal Energy Market report encompasses the customer adoption lifecycle, ranging from early adopters to mainstream users. It delves into adoption rates across different regions based on penetration and includes key purchase criteria and price sensitivity drivers to assist companies in formulating effective growth strategies.

Major Tidal Energy Market Companies:

Companies in the tidal energy market are employing diverse strategies, including pilot projects, research collaborations, and government partnerships, to advance tidal energy technology and deployment.

Example companies include:

  1. Orbital Marine Power: Orbital Marine Power specializes in tidal stream systems and is known for its innovative floating tidal turbines. The company has successfully deployed tidal energy projects and continues to expand its presence in the market.
  2. SIMEC Atlantis Energy: SIMEC Atlantis Energy is a prominent player in the tidal energy market, with a focus on both tidal stream and tidal range systems. The company has extensive experience in tidal energy projects and partnerships.
  3. Nova Innovation: Nova Innovation is at the forefront of tidal energy technology development and deployment. The company operates tidal energy projects and collaborates with governments and utilities to promote tidal energy adoption.

The competitive landscape analysis in the report provides insights into 20 key market players, including:

  • Minesto AB
  • Atlantis Resources Ltd.
  • DP Energy
  • Tocardo International BV
  • Sustainable Marine Energy Ltd.
  • Carnegie Clean Energy Ltd.
  • Ocean Renewable Power Company LLC
  • Sabella SAS
  • Seabased AB
  • OpenHydro Group Limited

Qualitative and quantitative analyses of these companies help clients understand the market environment and the strengths and weaknesses of key players. Companies are categorized based on focus, dominance, and strength.

Segment Overview:

The Tidal Energy Market report forecasts revenue growth at global, regional, and country levels and offers an analysis of trends and growth opportunities from 2019 to 2032.

  • Application Outlook (USD Million, 2019 - 2032):
    • Power Generation
    • Desalination
    • Others
  • Type Outlook (USD Million, 2019 - 2032):
    • Tidal Stream Systems
    • Tidal Range Systems
  • Geography Outlook (USD Million, 2019 - 2032):
    • North America
      • United States
      • Canada
    • Europe
      • United Kingdom
      • France
      • Rest of Europe
    • Asia-Pacific
      • China
      • Japan
      • Australia
      • Rest of Asia-Pacific
    • Latin America
      • Brazil
      • Chile
      • Rest of Latin America
    • Middle East & Africa
      • South Africa
      • Rest of Middle East & Africa

TABLE OF CONTENTS: GLOBAL TIDAL ENERGY MARKET

Chapter 1. MARKET SYNOPSIS

1.1. Market Definition

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. EXECUTIVE SUMMARY

2.1. Summary Snapshot, 2016 – 2027

Chapter 3. INDICATIVE METRICS

3.1. Macro Indicators

Chapter 4. TIDAL ENERGY MARKET SEGMENTATION & IMPACT ANALYSIS

4.1. Tidal Energy Segmentation Analysis

4.2. Industrial Outlook

4.3. Price Trend Analysis

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

    4.5.1. Power Of Suppliers

    4.5.2. Power Of Buyers

    4.5.3. Threat Of Substitutes

    4.5.4. Threat Of New Entrants

    4.5.5. Competitive Rivalry

Chapter 5. TIDAL ENERGY MARKET BY Foundation Type INSIGHTS & TRENDS

5.1. Segment 1 Dynamics & Market Share, 2019 & 2027

5.2. Barrage

    5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.3. Gravity Base

    5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.4. Monopile

    5.4.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.4.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.5. Semi-submersible

    5.5.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.5.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 6. TIDAL ENERGY MARKET BY Depth of Installation INSIGHTS & TRENDS

6.1. Segment 2 Dynamics & Market Share, 2019 & 2027

6.2. Shallow Water

    6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.3. Transitional Water and Deep Water

    6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 7. TIDAL ENERGY MARKET REGIONAL OUTLOOK

7.1. Tidal Energy Market Share By Region, 2019 & 2027

7.2. NORTH AMERICA

    7.2.1. North America Tidal Energy Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.2. North America Tidal Energy Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.3. North America Tidal Energy Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.4. North America Tidal Energy Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.5. U.S.

    7.2.5.1. U.S. Tidal Energy Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.5.2. U.S. Tidal Energy Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.5.3. U.S. Tidal Energy Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.5.4. U.S. Tidal Energy Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.6. CANADA

    7.2.6.1. Canada Tidal Energy Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.6.2. Canada Tidal Energy Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.6.3. Canada Tidal Energy Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.6.4. Canada Tidal Energy Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3. EUROPE

    7.3.1. Europe Tidal Energy Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.2. Europe Tidal Energy Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.3. Europe Tidal Energy Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.4. Europe Tidal Energy Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.5. GERMANY

    7.3.5.1. Germany Tidal Energy Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.5.2. Germany Tidal Energy Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.5.3. Germany Tidal Energy Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.5.4. Germany Tidal Energy Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.6. FRANCE

    7.3.6.1. France Tidal Energy Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.6.2. France Tidal Energy Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.6.3. France Tidal Energy Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.6.4. France Tidal Energy Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.7. U.K.

    7.3.7.1. U.K. Tidal Energy Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.7.2. U.K. Tidal Energy Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.7.3. U.K. Tidal Energy Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.7.4. U.K. Tidal Energy Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4. ASIA-PACIFIC

    7.4.1. Asia Pacific Tidal Energy Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.4.2. Asia Pacific Tidal Energy Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.4.3. Asia Pacific Tidal Energy Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.4. Asia Pacific Tidal Energy Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

 7.4.5. CHINA

     7.4.5.1. China Tidal Energy Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.5.2. China Tidal Energy Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.5.3. China Tidal Energy Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

     7.4.5.4. China Tidal Energy Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.6. INDIA

     7.4.6.1. India Tidal Energy Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.6.2. India Tidal Energy Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.6.3. India Tidal Energy Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

     7.4.6.4. India Tidal Energy Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.7. JAPAN

     7.4.7.1. Japan Tidal Energy Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.7.2. Japan Tidal Energy Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.4.7.3. Japan Tidal Energy Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.7.4. Japan Tidal Energy Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.8. AUSTRALIA

    7.4.8.1. Australia Tidal Energy Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.4.8.2. Australia Tidal Energy Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.8.3. Australia Tidal Energy Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.8.4. Australia Tidal Energy Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.5. MIDDLE EAST AND AFRICA (MEA)

    7.5.1. Mea Tidal Energy Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.5.2. Mea Tidal Energy Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.5.3. Mea Tidal Energy Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.5.4. Mea Tidal Energy Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.6. LATIN AMERICA

     7.6.1. Latin America Tidal Energy Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.6.2. Latin America Tidal Energy Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.6.3. Latin America Tidal Energy Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.6.4. Latin America Tidal Energy Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)

    7.6.5. Latin America Tidal Energy Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

Chapter 8. COMPETITIVE LANDSCAPE

8.1. Market Share By Manufacturers

8.2. Strategic Benchmarking

    8.2.1. New Product Launches

    8.2.2. Investment & Expansion

    8.2.3. Acquisitions

    8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures

8.3. Vendor Landscape

     8.3.1. North American Suppliers

     8.3.2. European Suppliers

     8.3.3. Asia-Pacific Suppliers

     8.3.4. Rest Of The World Suppliers

Chapter 9. COMPANY PROFILES

9.1. Atlantis Resources Ltd

    9.1.1. Company Overview

    9.1.2. Financial Performance

    9.1.3. Product Insights

    9.1.4. Strategic Initiatives

9.2. Envirotek Pte Ltd (Singapore)

    9.2.1. Company Overview

    9.2.2. Financial Performance

    9.2.3. Product Insights

    9.2.4. Strategic Initiatives

9.3. Naval Energies (france)

    9.3.1. Company Overview

    9.3.2. Financial Performance

    9.3.3. Product Insights

    9.3.4. Strategic Initiatives

9.4. Tidal Energy Ltd. (TEL) (U.K)

    9.4.1. Company Overview

    9.4.2. Financial Performance

    9.4.3. Product Insights

    9.4.4. Strategic Initiatives

9.5. Sabella

    9.5.1. Company Overview

    9.5.2. Financial Performance

    9.5.3. Product Insights

    9.5.4. Strategic Initiatives

9.6. Green Power Solutions (India)

    9.6.1. Company Overview

    9.6.2. Financial Performance

    9.6.3. Product Insights

    9.6.4. Strategic Initiatives

9.7. Tidal Bridge B.V.( Netherlands)

    9.7.1. Company Overview

    9.7.2. Financial Performance

    9.7.3. Product Insights

    9.7.4. Strategic Initiatives

9.8. SBS Intl Ltd (U.K.)

    9.8.1. Company Overview

    9.8.2. Financial Performance

    9.8.3. Product Insights

    9.8.4. Strategic Initiatives

9.9. Company 9

    9.9.1. Company Overview

    9.9.2. Financial Performance

    9.9.3. Product Insights

    9.9.4. Strategic Initiatives

9.10. Company 10

    9.10.1. Company Overview

    9.10.2. Financial Performance

    9.10.3. Product Insights

    9.10.4. Strategic Initiatives

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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