Global Ocean Energy Technology Market Growth (Status and Outlook) 2025-2031

The global Ocean Energy Technology market size is predicted to grow from US$ million in 2025 to US$ million in 2031; it is expected to grow at a CAGR of %from 2025 to 2031.

Ocean energy technology refers to the various methods and technologies used to harness energy from the world"s oceans. It"s a renewable energy source that takes advantage of the energy contained in the movement of ocean waters, such as waves, tides, ocean currents, and temperature differentials. There are several key forms of ocean energy technology:

Wave Energy: Wave energy technology captures the kinetic energy generated by the motion of ocean waves. It typically involves the use of buoys, oscillating water columns, or other devices that move with the waves, driving a generator to produce electricity.

Tidal Energy: Tidal energy is harnessed from the rise and fall of ocean tides. Tidal energy technologies include tidal stream systems that use underwater turbines to capture the kinetic energy of flowing water, as well as tidal range systems that employ dams or barrages to create energy as water flows in and out of a tidal basin.

Ocean Thermal Energy Conversion (OTEC): OTEC technology relies on the temperature difference between the warm surface waters and cold deep waters in the ocean. Heat exchangers and working fluids are used to generate power through a heat engine.

Salinity Gradient Power: Salinity gradient power, also known as blue energy, is generated from the difference in salt concentration between fresh river water and salty seawater. This technology typically employs membranes or pressure retarded osmosis (PRO) processes to create electricity.

Ocean energy technology has several advantages, including its predictability, high energy density, and minimal environmental impact when compared to fossil fuels. However, it also faces challenges such as high upfront costs, potential environmental impacts on marine ecosystems, and the need for infrastructure in harsh ocean environments.

Despite the challenges, ongoing research and development aim to make ocean energy a more viable and sustainable source of renewable energy, contributing to a diversified and cleaner energy mix.

United States market for Ocean Energy Technology is estimated to increase from US$ million in 2024 to US$ million by 2031, at a CAGR of % from 2025 through 2031.

China market for Ocean Energy Technology is estimated to increase from US$ million in 2024 to US$ million by 2031, at a CAGR of % from 2025 through 2031.

Europe market for Ocean Energy Technology is estimated to increase from US$ million in 2024 to US$ million by 2031, at a CAGR of % from 2025 through 2031.

Global key Ocean Energy Technology players cover Ocean Renewable Power Company (ORPC), Carnegie Clean Energy, Nova Innovation, Minesto, Naval Energies, etc. In terms of revenue, the global two largest companies occupied for a share nearly % in 2024.

LPI (LP Information)' newest research report, the “Ocean Energy Technology Industry Forecast” looks at past sales and reviews total world Ocean Energy Technology sales in 2024, providing a comprehensive analysis by region and market sector of projected Ocean Energy Technology sales for 2025 through 2031. With Ocean Energy Technology sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Ocean Energy Technology industry.

This Insight Report provides a comprehensive analysis of the global Ocean Energy Technology landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyses the strategies of leading global companies with a focus on Ocean Energy Technology portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Ocean Energy Technology market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Ocean Energy Technology and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Ocean Energy Technology.

This report presents a comprehensive overview, market shares, and growth opportunities of Ocean Energy Technology market by product type, application, key players and key regions and countries.

Segmentation by Type:
Wave Energy Technology
Tidal Energy Technology
Ocean Thermal Energy Conversion (OTEC) Technology
Salinity Gradient Power Technology

Segmentation by Application:
Electricity Generation
Off-Grid Power Supply
Emergency Power

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Ocean Renewable Power Company (ORPC)
Carnegie Clean Energy
Nova Innovation
Minesto
Naval Energies
EMEC (European Marine Energy Centre)
Ocean Energy Europe
Wello
AW-Energy
SIMEC Atlantis Energy
Eco Wave Power
SCHOTTEL
Sabella
NEMOS
Marine Power Systems (MPS)
CorPower Ocean

Please note: The report will take approximately 2 business days to prepare and deliver.