Transparency Market Research Wave and Tidal Energy Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020 Published Date 2014-06-30 139 Page Report Buy Now Request Sample Press Release Global Wave and Tidal Energy Market is expected to reach USD 10.10 billion in 2020 Transparency Market Research State Tower, 90, State Street, Suite 700. Albany, NY 12207 United States www.transparencymarketresearch.com [email protected] Global Wave and Tidal Energy Market REPORT DESCRIPTION Transparency Market Research has released a new market report titled “Wave and Tidal Energy Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020.” According to the report, the wave and tidal energy market was valued at USD 25 million in 2013 and is anticipated to reach USD 10.1 billion in 2020, expanding at a CAGR of 64.1% from 2014 to 2020. Browse the full Wave and Tidal Energy Market report at http://www.transparencymarketresearch.com/wave-tidal-energy-market.html When harnessed effectively, ocean could prove to be one of the largest reserves of clean and sustainable energy. Wave and tidal energy are the two major forms of harnessing ocean energy. These have significantly different market dynamics. Tidal energy can be broadly segmented into tidal stream and tidal range energy. Tidal range power plants entail construction of tidal barrages. This is a mature form of energy generation technology. Commissioned in 2011, the Sihwa Lake Tidal Power Station with 254 MW capacity replaced France’s Rance Tidal Power Station as the largest tidal power plant in the world. Tidal stream power plants are a relatively new technology with ample scope for development. Wave energy is a relatively new concept; the installed capacity aggregated just 5.77 MW in 2013. Both the sectors are likely to experience significant market growth in terms of installed capacity and investments in the near future. Currently, more than 200 companies operate in the wave and tidal energy sector. Most of these players are extensively involved in the business of development of energy converter technology. Both wave and tidal stream technologies have significant potential of reaping benefits of economies of scale. Large-scale commercial array deployments of wave and tidal power plants are projected to be followed by massive cost reductions. Strong development of the offshore wind energy sector in many countries around the world can contribute significantly to cost reduction potential of wave and tidal energy. The path from prototype testing and project demonstration to large-scale commercial project construction is a long one. Constant financial and policy support from local governments is imperative for technology developers for brisk commercialization of their energy converter devices. Currently, the industry structure is fragmented in nature. It is difficult to ascertain whether the industry would consolidate in the near future. However, establishment of special purpose project companies and strategic alliances would be imperative for small technology developers to invest in projects around the world. Transparency Market Research 2 Global Wave and Tidal Energy Market Major developments in wave and tidal stream plants are expected to take place in Europe. On the other hand, South Korea is estimated to grow the fastest in terms of tidal barrage operations. In terms of installed capacity, the wave and tidal energy market is projected to reach 3712 MW by 2020, expanding at a CAGR of 34.5% from 2014 to 2020. This market would be primarily led by addition of large-scale tidal barrage capacity in South Korea. Wave energy development in Asia Pacific would be concentrated in Australia. The country is likely to add nearly 25 MW of capacity by the end of 2020. Currently, only tidal barrages are capable of generating returns on investments through the sale of electricity. Both tidal stream and wave power plants are still not capable of generating power at grid parity levels. Commercialization of technology is the need of the hour for this sector. Otherwise, it would be difficult for project developers to sign long-term power sale contracts. Reduction in costs would become a necessity as the sector shifts from grant financing to private equity and debt financing. Key players in the market include Pelamis Wave Power Ltd., Carnegie Wave Energy Ltd., Marine Current Turbines Ltd. and Aquamarine Power. The report provides an overview of these companies, followed by their financial revenue, business strategies and recent developments. The research analyzes and estimates the performance and market of wave and tidal energy globally. It provides a detailed trend analysis of the market in terms of geography and comprehensive analysis of companies that deal in wave and tidal energy systems. The report provides a thorough assessment of strategies followed by different stakeholders by segmenting the wave and tidal energy market as follows: Wave and tidal power generation market: Type analysis Wave energy Tidal energy Wave and tidal power generation market: Geography analysis North America The U.S. Canada Europe The U.K. Scotland France Transparency Market Research 3 Global Wave and Tidal Energy Market Others Asia Pacific South Korea Australia China Others Table of Contents CHAPTER 1 PREFACE 1.1 REPORT DESCRIPTION 1.2 RESEARCH SCOPE 1.3 MARKET SEGMENTATION 1.4 RESEARCH METHODOLOGY CHAPTER 2 EXECUTIVE SUMMARY CHAPTER 3 MARKET OVERVIEW 3.1 INTRODUCTION 3.2 VALUE CHAIN ANALYSIS 3.3 MARKET DRIVERS 3.3.1 PREDICTABLE AND CONSTANT SOURCE OF RENEWABLE ENERGY 3.3.2 SCALABILITY WITHIN A SMALL AREA ALLOWING LARGE PROJECT DEVELOPMENT IN PHASES Transparency Market Research 4 Global Wave and Tidal Energy Market 3.3.3 GENERATION OF POWER FOR REMOTE LOCATIONS WHERE DRAWING GRID CONNECTIONS ARE NOT COST EFFECTIVE OR FEASIBLE 3.3.4 STRONG GOVERNMENT POLICY FRAMEWORK AND INCENTIVE SCHEMES 3.4 MARKET RESTRAINTS 3.4.1 HIGH CAPITAL INVESTMENTS AND LACK OF FUNDING CHANNELS 3.4.2 LACK OF COMMERCIAL DEPLOYMENT OF PROJECTS DUE TO LOW TECHNOLOGY MATURITY 3.5 MARKET OPPORTUNITIES 3.5.1 MASSIVE COST REDUCTION OPPORTUNITIES THROUGH TECHNOLOGICAL INNOVATIONS AND CAPACITY UP-SCALING 3.6 PORTER’S FIVE FORCES ANALYSIS 3.6.1 BARGAINING POWER OF SUPPLIERS 3.6.2 BARGAINING POWER OF BUYERS 3.6.3 THREAT FROM NEW ENTRANTS 3.6.4 DEGREE OF COMPETITION 3.6.5 THREAT FROM SUBSTITUTES 3.7 WAVE AND TIDAL ENERGY: LIFETIME PLANT COST ANALYSIS 3.7.1 WAVE ENERGY GENERATION 3.7.1.1 Global Wave Energy generation cost reduction opportunities, By cost type 3.7.1.2 Global Wave Energy generation lifetime plant cost breakdown and forecast, by cost type, 2013 – 2020, (Million USD/MW) 3.7.2 TIDAL ENERGY GENERATION 3.7.2.1 Global Tidal Energy generation cost reduction opportunities, By cost type 3.7.2.2 Global Tidal Energy generation lifetime plant cost breakdown and forecast, by cost type, 2013 – 2020, (Million USD/MW) 3.8 WAVE AND TIDAL ENERGY: GLOBAL REGULATORY LANDSCAPE 3.8.1 U.K & Scotland Wave and Tidal Energy financial incentive schemes Transparency Market Research 5 Global Wave and Tidal Energy Market 3.9 MARKET ATTRACTIVENESS ANALYSIS OF THE WAVE AND TIDAL ENERGY MARKET, BY REGION, 2013 3.10 COMPANY MARKET SHARE ANALYSIS 3.10.1 COMPANY MARKET SHARE ANALYSIS : TIDAL ENERGY 3.10.1.1 Tidal Energy, company market share analysis (MW), 2013 3.10.2 COMPANY MARKET SHARE ANALYSIS : WAVE ENERGY 3.10.2.1 Wave Energy, company market share analysis (MW), 2013 CHAPTER 4 WAVE AND TIDAL ENERGY MARKET: TYPE ANALYSIS 4.1 GLOBAL WAVE AND TIDAL ENERGY MARKET: TYPE OVERVIEW 4.1.1 GLOBAL WAVE AND TIDAL ENERGY MARKET, VOLUME SHARE BY TYPE, 2013-2020 4.2 WAVE POWER PLANTS 4.2.1 GLOBAL WAVE POWER PLANT CAPACITY ESTIMATES AND FORECASTS, 2014 - 2020 (MW) (USD MILLION) 4.3 TIDAL POWER PLANTS 4.3.1 GLOBAL TIDAL POWER PLANT CAPACITY ESTIMATES AND FORECASTS, 2014 - 2020 (MW) (USD MILLION) CHAPTER 5 WAVE AND TIDAL ENERGY MARKET: REGIONAL ANALYSIS 5.1 GLOBAL WAVE AND TIDAL ENERGY MARKET: REGIONAL OVERVIEW 5.1.1 GLOBAL TIDAL ENERGY MARKET, VOLUME SHARE BY REGION, 2013 AND 2020 (MW) 5.1.2 GLOBAL WAVE ENERGY MARKET, VOLUME SHARE BY REGION, 2013 AND 2020 (MW) 5.1.3 GLOBAL WAVE AND TIDAL ENERGY MARKET, VOLUME SHARE BY REGION, 2013 AND 2020 (MW) 5.2 EUROPE 5.2.1 EUROPE WAVE ENERGY MARKET ESTIMATES AND FORECAST, 2014 – 2020 (MW) (USD MILLION) 5.2.2 EUROPE TIDAL ENERGY MARKET ESTIMATES AND FORECAST, 2014 – 2020 (MW) (USD MILLION) Transparency Market Research 6 Global Wave and Tidal Energy Market 5.2.3 EUROPE WAVE AND TIDAL ENERGY MARKET ESTIMATES AND FORECAST, 2014 – 2020 (MW) (USD MILLION) 5.2.4 SCOTLAND 5.2.4.1 Scotland wave energy market estimates and forecast, 2014 – 2020 (MW) (USD Million) 5.2.4.2 Scotland tidal energy market estimates and forecast, 2014 – 2020 (MW) (USD Million) 5.2.4.3 Scotland wave and tidal energy market estimates and forecast, 2014 – 2020 (MW) (USD Million) 5.2.5 UNITED KINGDOM (U.K.) 5.2.5.1 U.K. wave energy market estimates and forecast, 2014 – 2020 (MW) (USD Million) 5.2.5.2 U.K. tidal energy market estimates and forecast, 2014 – 2020 (MW) (USD Million) 5.2.5.3 U.K. wave and tidal energy market estimates and forecast, 2014 – 2020 (MW) (USD Million) 5.2.6 FRANCE 5.2.6.1 France tidal energy market estimates and forecast, 2014 – 2020 (MW) (USD Million) 5.2.7 OTHERS 5.2.7.1 Others wave and tidal energy market estimates and forecast, 2014 – 2020 (MW) (USD Million) 5.2.8 PROPOSED WAVE AND TIDAL POWER PROJECTS: EUROPE 5.2.8.1 Proposed Wave projects 5.2.8.2 Proposed Tidal Projects 5.2.9 REGULATORY FRAMEWORK SNAPSHOT: EUROPE 5.3 ASIA PACIFIC 5.3.1 ASIA PACIFIC WAVE ENERGY MARKET ESTIMATES AND FORECAST, 2014 – 2020 (MW) (USD MILLION) 5.3.2 ASIA PACIFIC TIDAL ENERGY MARKET ESTIMATES AND FORECAST, 2014 – 2020 (MW) (USD MILLION) 5.3.3 ASIA PACIFIC WAVE AND TIDAL ENERGY MARKET ESTIMATES AND FORECAST, 2014 – 2020 (MW) (USD MILLION) 5.3.4 SOUTH KOREA 5.3.4.1 South Korea tidal energy market estimates and forecast, 2014 – 2020 (MW) (USD Million) Transparency Market Research 7 Global Wave and Tidal Energy Market 5.3.5 AUSTRALIA 5.3.5.1 Australia wave energy market estimates and forecast, 2014 – 2020 (MW) (USD Million) 5.3.6 CHINA 5.3.6.1 China wave energy market estimates and forecast, 2014 – 2020 (MW) (USD Million) 5.3.6.2 China tidal energy market estimates and forecast, 2014 – 2020 (MW) (USD Million) 5.3.6.3 China wave and tidal energy market estimates and forecast, 2014 – 2020 (MW) (USD Million) 5.3.7 OTHERS 5.3.7.1 Others wave and tidal energy market estimates and forecast, 2014 – 2020 (MW) (USD Million) 5.3.8 PROPOSED WAVE AND TIDAL POWER PROJECTS: ASIA PACIFIC 5.3.8.1 Proposed Wave Projects 5.3.8.2 Proposed Tidal Projects 5.3.9 REGULATORY FRAMEWORK SNAPSHOT: ASIA PACIFIC 5.4 NORTH AMERICA 5.4.1 NORTH AMERICA WAVE ENERGY MARKET ESTIMATES AND FORECAST, 2014 – 2020 (MW) (USD MILLION) 5.4.2 NORTH AMERICA TIDAL ENERGY MARKET ESTIMATES AND FORECAST, 2014 – 2020 (MW) (USD MILLION) 5.4.3 NORTH AMERICA WAVE AND TIDAL ENERGY MARKET ESTIMATES AND FORECAST, 2014 – 2020 (MW) (USD MILLION) 5.4.4 UNITED STATES 5.4.4.1 U.S. wave energy market estimates and forecast, 2014 – 2020 (MW) (USD Million) 5.4.4.2 U.S. tidal energy market estimates and forecast, 2014 – 2020 (MW) (USD Million) 5.4.4.3 U.S. wave and tidal energy market estimates and forecast, 2014 – 2020 (MW) (USD Million) 5.4.5 CANADA 5.4.5.1 Canada wave and tidal energy market estimates and forecast, 2014 – 2020 (MW) (USD Million) Transparency Market Research 8 Global Wave and Tidal Energy Market 5.4.6 REGULATORY FRAMEWORK SNAPSHOT: NORTH AMERICA CHAPTER 6 COMPANY PROFILES 6.1 AQUAMARINE POWER LTD. 6.1.1 COMPANY OVERVIEW 6.1.2 PRODUCT PORTFOLIO 6.1.3 BUSINESS STRATEGY 6.1.4 SWOT ANALYSIS 6.1.5 RECENT DEVELOPMENTS 6.2 CARNEGIE WAVE ENERGY 6.2.1 COMPANY OVERVIEW 6.2.2 PRODUCT PORTFOLIO 6.2.3 FINANCIAL OVERVIEW 6.2.4 BUSINESS STRATEGY 6.2.5 SWOT ANALYSIS 6.2.6 RECENT DEVELOPMENTS 6.3 MARINE CURRENT TURBINES LTD. 6.3.1 COMPANY OVERVIEW 6.3.2 PRODUCT PORTFOLIO 6.3.3 BUSINESS STRATEGY 6.3.4 SWOT ANALYSIS 6.3.5 RECENT DEVELOPMENTS 6.4 OCEAN POWER TECHNOLOGIES INC. 6.4.1 COMPANY OVERVIEW Transparency Market Research 9 Global Wave and Tidal Energy Market 6.4.2 PRODUCT PORTFOLIO 6.4.3 FINANCIAL OVERVIEW 6.4.4 BUSINESS STRATEGY 6.4.5 SWOT ANALYSIS 6.4.6 RECENT DEVELOPMENTS 6.5 OCEAN RENEWABLE POWER COMPANY LLC 6.5.1 COMPANY OVERVIEW 6.5.2 PRODUCT PORTFOLIO 6.5.3 BUSINESS STRATEGY 6.5.4 SWOT ANALYSIS 6.5.5 RECENT DEVELOPMENTS 6.6 TENAX ENERGY 6.6.1 COMPANY OVERVIEW 6.6.2 PRODUCT PORTFOLIO 6.6.3 BUSINESS STRATEGY 6.6.4 SWOT ANALYSIS 6.7 AQUAGEN TECHNOLOGIES 6.7.1 COMPANY OVERVIEW 6.7.2 PRODUCT PORTFOLIO 6.7.3 FINANCIAL OVERVIEW 6.7.4 BUSINESS STRATEGY 6.7.5 SWOT ANALYSIS 6.7.6 RECENT DEVELOPMENTS 6.8 ATLANTIS RESOURCES LTD. Transparency Market Research 10 Global Wave and Tidal Energy Market 6.8.1 COMPANY OVERVIEW 6.8.2 PRODUCT PORTFOLIO 6.8.3 FINANCIAL OVERVIEW 6.8.4 BUSINESS STRATEGY 6.8.5 SWOT ANALYSIS 6.9 PELAMIS WAVE POWER 6.9.1 COMPANY OVERVIEW 6.9.2 PRODUCT PORTFOLIO 6.9.3 BUSINESS STRATEGY 6.9.4 SWOT ANALYSIS 6.10 S.D.E ENERGY LTD. 6.10.1 COMPANY OVERVIEW 6.10.2 PRODUCT PORTFOLIO 6.10.3 BUSINESS STRATEGY 6.10.4 SWOT ANALYSIS LIST OF FIGURES FIG. 1 WAVE AND TIDAL ENERGY: MARKET SEGMENTATION FIG. 2 GLOBAL WAVE AND TIDAL ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD MILLION) FIG. 3 VALUE CHAIN ANALYSIS OF WAVE AND TIDAL ENERGY FIG. 4 FIG: PORTER’S FIVE FORCES ANALYSIS FIG. 5 WAVE ENERGY GENERATION MARKET, INDIVIDUAL COST BREAKDOWN OF LIFETIME PLANT COST, 2013 FIG. 6 TIDAL ENERGY GENERATION MARKET, LIFETIME PLANT COST BREAKDOWN OF OVERALL DEVELOPMENT COST, 2013 Transparency Market Research 11 Global Wave and Tidal Energy Market FIG. 7 MARKET ATTRACTIVENESS ANALYSIS OF WAVE ENERGY MARKET, BY REGION, 2013 FIG. 8 MARKET ATTRACTIVENESS ANALYSIS OF TIDAL ENERGY MARKET, BY REGION, 2013 FIG. 9 COMPANY MARKET SHARE OF TIDAL ENERGY INDUSTRY (MW), 2013 FIG. 10 COMPANY MARKET SHARE OF WAVE ENERGY INDUSTRY (MW), 2013 FIG. 11 GLOBAL WAVE AND TIDAL ENERGY MARKET, VOLUME SHARE BY TYPE, 2013 - 2020 FIG. 12 GLOBAL WAVE POWER PLANT CAPACITY ESTIMATES AND FORECASTS, 2014 - 2020 (MW) (USD MILLION) FIG. 13 GLOBAL TIDAL POWER PLANT CAPACITY ESTIMATES AND FORECASTS, 2014 – 2020 (MW) (USD MILLION) FIG. 14 GLOBAL TIDAL ENERGY MARKET, VOLUME SHARE BY REGION, 2013 AND 2020 (MW) FIG. 15 GLOBAL WAVE ENERGY MARKET, VOLUME SHARE BY REGION, 2013 AND 2020 (MW) FIG. 16 GLOBAL WAVE AND TIDAL ENERGY MARKET, VOLUME SHARE BY REGION, 2013 AND 2020 (MW) FIG. 17 EUROPE WAVE ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD MILLION) FIG. 18 EUROPE TIDAL ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD MILLION) FIG. 19 EUROPE WAVE AND TIDAL ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD MILLION) FIG. 20 SCOTLAND WAVE ENERGY MARKET CAPACITY AND GENERATION, 2014 – 2020 (MW) (USD MILLION) FIG. 21 SCOTLAND TIDAL ENERGY MARKET CAPACITY AND GENERATION, 2014 – 2020 (MW) (USD MILLION) FIG. 22 SCOTLAND WAVE AND TIDAL ENERGY MARKET CAPACITY AND GENERATION, 2014 – 2020 (MW) (USD MILLION) FIG. 23 U.K. WAVE ENERGY MARKET CAPACITY AND GENERATION, 2014 – 2020 (MW) (USD MILLION) FIG. 24 U.K. TIDAL ENERGY MARKET CAPACITY AND GENERATION, 2014 – 2020 (MW) (USD MILLION) FIG. 25 U.K. WAVE AND TIDAL ENERGY MARKET CAPACITY AND REVENUE, 2014 – 2020 (MW) (USD MILLION) FIG. 26 FRANCE TIDAL ENERGY MARKET CAPACITY AND REVENUE, 2014 – 2020 (MW) (USD MILLION) FIG. 27 OTHERS WAVE AND TIDAL ENERGY MARKET CAPACITY AND REVENUE, 2014 – 2020 (MW) (USD MILLION) FIG. 28 ASIA PACIFIC WAVE ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD MILLION) FIG. 29 ASIA PACIFIC TIDAL ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD MILLION) Transparency Market Research 12 Global Wave and Tidal Energy Market FIG. 30 ASIA PACIFIC WAVE AND TIDAL ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD MILLION) FIG. 31 SOUTH KOREA TIDAL ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD MILLION) FIG. 32 AUSTRALIA WAVE ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD MILLION) FIG. 33 CHINA WAVE ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD MILLION) FIG. 34 CHINA TIDAL ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD MILLION) FIG. 35 CHINA WAVE AND TIDAL ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD MILLION) FIG. 36 OTHERS WAVE AND TIDAL ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD MILLION) FIG. 37 NORTH AMERICA WAVE ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD MILLION) FIG. 38 NORTH AMERICA TIDAL ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD MILLION) FIG. 39 NORTH AMERICA WAVE AND TIDAL ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD MILLION) FIG. 40 U.S. WAVE ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD MILLION) FIG. 41 U.S. TIDAL ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD MILLION) FIG. 42 U.S. WAVE AND TIDAL ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD MILLION) FIG. 43 U.S. WAVE AND TIDAL ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD MILLION) LIST OF TABLES TABLE 1 GLOBAL WAVE AND TIDAL ENERGY MARKET: SNAPSHOT TABLE 2 DRIVERS OF WAVE AND TIDAL ENERGY MARKET: IMPACT ANALYSIS TABLE 3 RESTRAINTS OF WAVE AND TIDAL ENERGY MARKET: IMPACT ANALYSIS TABLE 4 GLOBAL WAVE ENERGY GENERATION COST REDUCTION OPPORTUNITIES, BY COST TYPE TABLE 5 GLOBAL WAVE ENERGY GENERATION LIFETIME PLANT COST BREAKDOWN AND FORECAST, BY COST TYPE, 2013 - 2020 (MILLION USD/MW) Transparency Market Research 13 Global Wave and Tidal Energy Market TABLE 6 GLOBAL TIDAL ENERGY GENERATION COST REDUCTION OPPORTUNITIES, BY COST TYPE TABLE 7 GLOBAL TIDAL ENERGY GENERATION LIFETIME PLANT COST BREAKDOWN AND FORECAST, BY COST TYPE, 2013 - 2020 (MILLION USD/MW) TABLE 8 U.K & SCOTLAND WAVE AND TIDAL ENERGY FINANCIAL INCENTIVE SCHEMES, BY SCHEME NAME AND DESCRIPTION Get Sample Free Report : http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=2000 About Us Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. 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A recent research report published by Transparency Market Research projects the global wave and tidal energy market to expand robustly at a CAGR of 64.1% during the period between 2014 and 2020. The report, titled “Wave and Tidal Energy Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020,” estimates the global wave and tidal energy market to reach a valuation of U$10.1 bn by 2020. The overall market was worth US$25 mn in 2013. Complete Report Wave and Tidal Energy Market with TOC : http://www.transparencymarketresearch.com/wave-tidal-energy-market.html Wave and tidal energy are a constant and steady source of clean energy and are an important part of the future renewable energy mix. The report points out that strong government policy framework and incentive schemes across various nations will boost the growth of the global wave and tidal energy market. Further, wave and tidal energy can be used to generate power for remote locations where drawing grid connections is not cost-effective or feasible. This will also augment the growth of the market during the forecast horizon. However, high capital investments and the lack of commercial deployment of projects will restrain the overall market. The global wave and tidal energy market has a huge scope to grow through technological innovations and capacity up-scaling.
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