MarkNtel Advisors recently published a detailed industry analysis of the Global Wave and Tidal Energy Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.

Global Wave and Tidal Energy Market, Share, and Trends Analysis Report – Industry Overview and Forecast to 2030

The Wave and Tidal Energy Market size is valued at around USD 483 million in 2023 and is estimated to grow at a CAGR of around 29.01% during the forecast period, i.e., 2024-30

Key Findings in Global Wave and Tidal Energy Market:

• Historical Analysis: 2019–2022
• Base Year: 2023
• Forecast Period: 2024–2030

Leading Market Players- Aquagen Technologies, Pelamis Wave Power Ltd, Carnegie Wave Energy Ltd., Tenax Energy, SIMEC Atlantis Energy Ltd, Corpower Ocean AB, Mocean Energy, SSE, Ocean Energy, Eco Wave Power, Verdant Power Inc., SINN Power, Orbital Marine Power, Ricardo, Tacardo BV, and others

Key Highlights of the Report

• Market Dimensions & Projections
• Pricing Evaluation,
• Recent Strategic Moves by Companies,
• Primary Stakeholders,
• Analysis of Import and Export Trends,
• Competitive Landscape Assessment,
• Emerging Opportunities,
• Market Trends and Indicators

What are the major Driver the Global Wave and Tidal Energy industry?

Rising Investments to Drive the Market Growth in Wave and Tidal Energy Solutions – The growth of the Wave and Tidal Energy Market is being propelled by increased investments in clean energy sources from various nations, such as the US, China, and others. This surge in investment is driven by the desire to develop sustainable energy solutions, reduce dependence on imported fossil fuels, enhance energy security, and mitigate exposure to global energy market fluctuations. Consequently, governments are actively channeling funds into wave and tidal energy projects within their respective countries. For instance:

• In 2023, the US Department of Energy (DOE) allocated USD 35 million in funding, made available through the Bipartisan Infrastructure Law, to advance tidal and river current energy systems.

These strategic investments in energy projects are fueling market growth and stimulating the demand for cleaner energy solutions in the foreseeable future.

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What segments define the Global Wave and Tidal Energy Market from 2024 to 2030? How do these segments contribute to market dynamics and growth?

By Type

• Wave Energy- Market Size & Forecast 2018-2028F, USD Million
• Tidal Energy- Market Size & Forecast 2018-2028F, USD Million

According to report, Tidal energy has garnered relatively more attention and demand.

By Application

• Power Generation- Market Size & Forecast 2018-2028F, USD Million
• Desalination- Market Size & Forecast 2018-2028F, USD Million

According to report, Power generation held a greater share of the Wave and Tidal Energy Market. 

By Technology

• Tidal Stream Generator- Market Size & Forecast 2018-2028F, USD Million
• Oscillating Water Columns- Market Size & Forecast 2018-2028F, USD Million
• Tidal Turbines- Market Size & Forecast 2018-2028F, USD Million
• Tidal Barrages- Market Size & Forecast 2018-2028F, USD Million
• Tidal Fences- Market Size & Forecast 2018-2028F, USD Million

Explore the Complete Global Wave and Tidal Energy Market Analysis Report – https://www.marknteladvisors.com/research-library/wave-tidal-energy-market.html

Geographical Analysis: Global Wave and Tidal Energy Market

 By Region

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

  Global Wave and Tidal Energy Market Recent Development:

• 2023: Mocean Energy secured USD 3.7 million in EU funding to develop and deploy a 250 kW wave energy device in Orkney, Scotland.
• 2023: SSE, secured USD 120 million investment in the Coire Glas project, that could hold 30 gigawatt hours of long-term storage of water-based renewable energy.

Key Questions Addressed in This Study

• What are the primary factors driving the growth of the Global Wave and Tidal Energy Market?
• How is the Global Wave and Tidal Energy Market expected to evolve over the next five years?
• What key insights can be drawn from current trends shaping the market?
• What is the current market size, and how is it forecasted to change in the coming years?
• What is the future outlook for the market in terms of technological innovation and geographic expansion?

For a Customized Analysis Report, Just Drop Your Inquiry Here – https://www.marknteladvisors.com/query/request-customization/wave-tidal-energy-market.html

Why MarkNtel Advisors?

MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

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