Ocean Energy

Ocean Energy

Global Ocean Energy Market to Reach 27.2 Million Kilowatts by 2027

Amid the COVID-19 crisis, the global market for Ocean Energy estimated at 2.7 Million Kilowatts in the year 2020, is projected to reach a revised size of 27.2 Million Kilowatts by 2027, growing at a CAGR of 38.7% over the period 2020-2027.

The U.S. Market is Estimated at 831.3 Thousand Kilowatts, While China is Forecast to Grow at 36.6% CAGR

The Ocean Energy market in the U.S. is estimated at 831.3 Thousand Kilowatts in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of 4.3 Million Kilowatts by the year 2027 trailing a CAGR of 36.6% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 35.2% and 32.9% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 26.3% CAGR.We bring years of research experience to this 16th edition of our report. The 109-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Competitors identified in this market include, among others,

  • Able Technologies
  • 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
Impact of Covid-19 and a Looming Global Recession
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: 2020-2027
TABLE 2: Ocean Energy Market Share Shift across Key Geographies Worldwide: 2020 VS 2027
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: 2020 to 2027
CANADA
TABLE 4: Canadian Ocean Energy Market Estimates and Forecasts in Kilowatts: 2020 to 2027
JAPAN
TABLE 5: Japanese Market for Ocean Energy: Annual Sales Estimates and Projections in Kilowatts for the Period 2020-2027
CHINA
TABLE 6: Chinese Ocean Energy Market Growth Prospects in Kilowatts for the Period 2020-2027
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: 2020 VS 2027
FRANCE
TABLE 9: Ocean Energy Market in France: Estimates and Projections in Kilowatts for the Period 2020-2027
GERMANY
TABLE 10: Ocean Energy Market in Germany: Recent Past, Current and Future Analysis in Kilowatts for the Period 2020-2027
ITALY
TABLE 11: Italian Ocean Energy Market Growth Prospects in Kilowatts for the Period 2020-2027
UNITED KINGDOM
TABLE 12: United Kingdom Market for Ocean Energy: Annual Sales Estimates and Projections in Kilowatts for the Period 2020-2027
REST OF EUROPE
TABLE 13: Rest of Europe Ocean Energy Market Estimates and Forecasts in Kilowatts: 2020-2027
ASIA-PACIFIC
TABLE 14: Ocean Energy Market in Asia-Pacific: Estimates and Projections in Kilowatts for the Period 2020-2027
REST OF WORLD
TABLE 15: Rest of World Ocean Energy Market Estimates and Forecasts in Kilowatts: 2020 to 2027
IV. COMPETITION
Total Companies Profiled: 61

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