Press release
The global wave & tidal energy market is expected to reach the value of USD 15,291.2 Million by the year 2023 by growing at a CAGR of 17.84% during the forecast period 2017-2023 and top key players are Ocean Power Technologies Inc.( U.S.), IHI Corporation
Market analysis
The ocean is one of the sustainable power source which at present remains to a great extent undiscovered. Wave and tidal energy has an incredible potential for future as wave and tides can be substantially more precisely anticipated than wind or sun and because of huge size of seas. Despite the fact that it accessible in bounty, it experiences tremendous venture and limits site accessibility. The harvesting of the wave and tidal energy has been around for a couple of decades. However, just as of late it has begun to wind up progressively practical because of development in research and innovation.
Overall potential for wave and tidal power is gigantic, moreover nearby topography significantly impacts the power age potential. Higher life expectancy will drive the global wave and tidal energy market. The worldwide populace development, flourishing businesses in rising economies, are on the whole prompting a monstrous demand for the wave and tidal energy. The global wave & tidal energy market is expected to reach the value of USD 15,291.2 Million by the year 2023 by growing at a CAGR of 17.84% during the forecast period 2017-2023.
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Market segmentation
The global wave and tidal energy market is categorized on the basis of its type and regional demand. Based on its type, the market is segmented into tidal energy and wave energy.
Regional analysis
Geographically, the global wave and tidal energy market is divided into global regions like Europe, North America, Asia- Pacific, Middle East, LATAM, and Africa.
Major players
The key players of global wave & tidal energy market are Ocean Power Technologies Inc.( U.S.), IHI Corporation (Japan), Atlantis Resources Ltd (London), Aquamarine Power Ltd (U.K.), Carnegie Wave Energy Limited (Australia), Pelamis Wave Power (Scotland), Tenax Energy (Australia) and AW Energy Oy Ltd (Vantaa),Ocean Renewable Power CO Llc (Portland), YAM PRO Energy (Israel), among others.
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Table of Contents:
1 Executive Summary
2 Introduction
2.1 Scope of the Study
2.2 Assumptions
2.3 Market Structure
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
3.6 Drivers
3.6.1 Shrinking Conventional Power Resources
3.6.2 Favourable Government Initiatives
3.6.3 Long Life
3.7 Restraints
3.7.1 High Cost of Construction
3.7.2 Lack of Ideal Locations
3.8 Opportunities
3.8.1 On Going Development Of Wave & Tidal Energy
3.9 Porter's 5 Forces Analysis
3.9.1 Threat of New Entrants
3.9.2 Bargaining Power of Suppliers
3.9.3 Threat of Substitutes
3.9.4 Bargaining Power of Buyers
3.9.5 Segment Rivalry
3.1 Value Chain
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