NEW YORK, Feb. 25, 2020 /PRNewswire/ --
Ocean Energy market worldwide is projected to grow by 20.4 Million Kilowatts, driven by a compounded growth of 42.1%. Ocean Energy, one of the segments analyzed and sized in this study, displays the potential to grow at over 42.1%. The shifting dynamics supporting this growth makes it critical for businesses in this space to keep abreast of the changing pulse of the market. Poised to reach over 22.3 Million Kilowatts by the year 2025, Ocean Energy will bring in healthy gains adding significant momentum to global growth.
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- Representing the developed world, the United States will maintain a 47% growth momentum. Within Europe, which continues to remain an important element in the world economy, Germany will add over 556.9 Thousand Kilowatts to the region's size and clout in the next 5 to 6 years. Over 938.1 Thousand Kilowatts worth of projected demand in the region will come from Rest of Europe markets. In Japan, Ocean Energy will reach a market size of 1.3 Million Kilowatts by the close of the analysis period. As the world's second largest economy and the new game changer in global markets, China exhibits the potential to grow at 40.2% over the next couple of years and add approximately 3.3 Million Kilowatts in terms of addressable opportunity for the picking by aspiring businesses and their astute leaders. Presented in visually rich graphics are these and many more need-to-know quantitative data important in ensuring quality of strategy decisions, be it entry into new markets or allocation of resources within a portfolio. Several macroeconomic factors and internal market forces will shape growth and development of demand patterns in emerging countries in Asia-Pacific. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.
- Competitors identified in this market include, among others,
- Able Technologies
- L.L.C.
- Albatern Ltd.
- Applied Technologies Company, Ltd.
- AquaGen Technologies
- Aqua-Magnetics Inc.
- Atargis Energy Corporation
- Atlantis Resources Ltd.
- BioPower Systems Pty. Ltd.
- Blue Energy Canada Inc.
- Carnegie Clean Energy Limited
- Minesto AB
- Nova Innovation Ltd.
- Ocean Power Technologies Inc.
- Ocean Renewable Power Company, LLC
- OpenHydro Group Limited
- Scotrenewables Tidal Power Ltd.
- Tocardo International BV
- Verdant Power, Inc.
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I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Ocean Energy: Harnessing the Sheer Potential of Oceans & Seas
for Meeting Future Energy Needs
Important Factors Influencing the Global Ocean Energy Market
Recent Market Activity
Shift to Renewable Sources of Energy: An Inevitable Reality
Huge Untapped Kinetic Energy Potential of Oceans: A Fundamental
Growth Driver
Fast Facts
Growth Drivers in a Nutshell
Key Market Inhibitors
Government Intervention Critical for Commercial Success of
Ocean Energy
Domestic Targets for Greenhouse Gas Emissions of Select
Regions/Countries
Technology Commercialization: Need of the Hour
Ocean Energy - A Review of Current Scenario
Global Market Outlook
Europe Leads the Global Ocean Energy Market
Asia-Pacific: Frontrunner in Tidal Barrage Power Plants
Global Competitor Market Shares
Ocean Energy Competitor Market Share Scenario Worldwide (in %):
2020 & 2029
2. FOCUS ON SELECT PLAYERS
Able Technologies, L.L.C. (USA)
Albatern Ltd. (UK)
Applied Technologies Company, Ltd. (Russia)
AquaGen Technologies (Australia)
Aqua-Magnetics Inc. (USA)
Atargis Energy Corporation (USA)
Atlantis Resources Ltd. (UK)
BioPower Systems Pty. Ltd. (Australia)
Blue Energy Canada Inc. (Canada)
Carnegie Clean Energy Limited (Australia)
Minesto AB (Sweden)
Nova Innovation Ltd. (UK)
Ocean Power Technologies Inc. (USA)
Ocean Renewable Power Company, LLC (USA)
OpenHydro Group Limited (Ireland)
Scotrenewables Tidal Power Ltd. (Scotland)
Tocardo International BV (Netherlands)
Verdant Power, Inc. (USA)
3. MARKET TRENDS & DRIVERS
Growing Number of Wave Energy Projects Worldwide Drives Strong
Market Growth
Major Wave Energy Projects Worldwide: Project Proponent,
Technology, Location, Capacity (MW) and Development Stage
Tidal Energy Gains Momentum
MeyGen - A Multi-Turbine Tidal Stream Project in Scotland
Tidal Energy Projects Worldwide
Tidal Stream Projects Lends Traction to Market Growth
Tidal Range Projects to Face Challenges
Ocean Thermal Energy Conversion (OTEC) - A Niche Segment
OTEC Project on the South Pacific Ocean Obtains Bureau Veritas
Approval
Other FOWT Projects
Major FOWT Projects Worldwide: Project Proponent, Technology,
Location, Capacity (MW) and Development Stage
Rising Investments in Renewable Energy Sources Benefit Market
Expansion
Superior Attributes of Tidal Energy Attract New Developers,
Benefits Market Adoption
Horizontal Axis Turbines Grab Lion?s Share of Tidal Energy Devices
Tidal Energy: Abundant Resources despite Technology Barriers
Despite Dominance of Tidal Energy, Wave Energy Garner Growing
Attention and Investments
Small Islands Provide Big Push for Ocean Thermal Energy
Conversion Plants
Surveys to Play a Vital Role in Project Developments
Robust Electric Power Consumption Drives the Need for
Alternative Energy Sources
Burgeoning Global Population Propels Demand for Electric Power
Key Challenges Hampering Ocean Energy Development
Financial Support and Markets
Administrative and Environmental Issues
Availability of Grid Close to Projects
Grid Integration
Technology Advancements
PLAT-O Driving Down Tidal Energy Costs
bioWAVE: The New Ocean Energy Harnessing Device Deployed off
the Australian Coast
THWAT Turbine for Tidal Energy
HiWave: A Novel WEC Technology that Works on the Human Heart
Blood Pumping Principle
Xenesys and Saga University to Develop OTEC Technology
Japan Houses the State-of-the-Art OTEC Center
Technology Developments to Harness Salt Power
4. GLOBAL MARKET PERSPECTIVE
Table 1: Ocean Energy Global Market Estimates and Forecasts in
Kilowatts by Region/Country: 2018-2025
Table 2: Ocean Energy Market Share Shift across Key Geographies
Worldwide: 2019 VS 2025
III. MARKET ANALYSIS
GEOGRAPHIC MARKET ANALYSIS
UNITED STATES
Market Facts & Figures
Market Analytics
Table 3: United States Ocean Energy Market Estimates and
Projections in Kilowatts: 2018 to 2025
CANADA
Table 4: Canadian Ocean Energy Market Estimates and Forecasts
in Kilowatts: 2018 to 2025
JAPAN
Table 5: Japanese Market for Ocean Energy: Annual Sales
Estimates and Projections in Kilowatts for the Period 2018-2025
CHINA
Table 6: Chinese Ocean Energy Market Growth Prospects in
Kilowatts for the Period 2018-2025
EUROPE
Market Facts & Figures
Market Analytics
Table 7: European Ocean Energy Market Demand Scenario in
Kilowatts by Region/Country: 2018-2025
Table 8: European Ocean Energy Market Share Shift by
Region/Country: 2019 VS 2025
FRANCE
Table 9: Ocean Energy Market in France: Estimates and
Projections in Kilowatts for the Period 2018-2025
GERMANY
Table 10: Ocean Energy Market in Germany: Recent Past, Current
and Future Analysis in Kilowatts for the Period 2018-2025
ITALY
Table 11: Italian Ocean Energy Market Growth Prospects in
Kilowatts for the Period 2018-2025
UNITED KINGDOM
Table 12: United Kingdom Market for Ocean Energy: Annual Sales
Estimates and Projections in Kilowatts for the Period 2018-2025
REST OF EUROPE
Table 13: Rest of Europe Ocean Energy Market Estimates and
Forecasts in Kilowatts: 2018-2025
ASIA-PACIFIC
Table 14: Ocean Energy Market in Asia-Pacific: Estimates and
Projections in Kilowatts for the Period 2018-2025
REST OF WORLD
Table 15: Rest of World Ocean Energy Market Estimates and
Forecasts in Kilowatts: 2018 to 2025
IV. COMPETITION
Total Companies Profiled: 61
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