How are the new developments expected to change the Tidal Power Market?

Global Tidal Power Market – Growth, Trends, And Forecast (2021 – 2025)

The report presents an in-depth assessment of the Global Tidal Power Market including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Global Tidal Power investments from 2021 till 2025.

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The Global Tidal Power market is highly competitive and consists of a number of major players. Companies, like Andritz AG, Nova Innovation Ltd, Orbital Marine Power Ltd, SIMEC Atlantis Energy LTD, and Sustainable Marine Energy Ltd among others.

Scope of the Report

The global tidal power market is expected to grow at a CAGR of more than 17% over the period of 2020-2025. Factors such as encouraging government policies and pressure to meet power demand using renewables are expected to create a favorable market for tidal power. An extended maintenance-free period of 30-40 years in comparison to other power generation methods is anticipated in the tidal power industry. On the contrary, the initial investment required to install a tidal barrage or tidal stream is comparatively very high than any other existing power generation method. Adding to this, sites favorable for tidal to generate enough power are minimal and specific around the globe, which limits the installation of tidal energy.

- The market of Tidal Stream Generators (TSG) is expected to grow because they are based on directly deployed generators in the seabed. Unlike Tidal Barrage, TSGs are expected to work 20 hours a day in both high and low tide conditions.
- Upcoming tidal power projects across the globe are expected to create a significant amount of opportunity to the players involved in the market in the near future.
- Europe has been emerging as one of the fastest-growing regions, where the United Kingdom, Scotland and France are taking revolutionary steps.

Key Market Trends

Tidal Stream Generators To Hold A Significant Market

- Tidal Stream Generators (TSG) make use of moving water to power turbines. Turbines are placed underwater by different mechanisms to hold at a position. TSGs come in different designs like the Horizontal Axis Turbine, Vertical Axis Turbine, Hydrofoil, Enclosed Tips, and others.
- Turbines are designed in such a way that they are functional even when the direction of tides changes. Due to this, they can generate power up to 20 hours a day in comparison to 12 hours a day efficiency of a tidal barrage.
- SIMEC Atlantis Energy LTD is working on the MeyGen project in Scotland from 2015, which is expected to hold production capacity of 400 MW is based on tidal stream generators and has run for the whole of 2019, the most prolonged ever period of uninterrupted generation from a multi-megawatt tidal turbine installation.
- SIMEC Atlantis Energy LTD has identified more areas of tidal resource and has been working with Gujarat Power Corporation Ltd. to complete the concept design and consenting for a 200 MW project in the Gulf of Kutch.
- Concluding to the above-mentioned scenarios, the demand for TSGs is expected to grow at a significant rate.

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The key insights of the Tidal Power Market report: 
The report provides status of the Tidal Power market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
The report provides a basic overview of the industry including its definition, applications and manufacturing technology.
The Tidal Power market report presents the company profile, product specifications, capacity, production value, and 2016-2021 market shares for key vendors.
The total market is further divided by company, by country, and by application/type for the competitive landscape analysis.
The report estimates 2021-2025 market development trends of Tidal Power Market.
Analysis of upstream raw materials, downstream demand and current market dynamics is also carried out
The report makes some important proposals for a new project of Tidal Power Industry before evaluating its feasibility.

Finally, Tidal Power Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request and market development rate and figure and so on. Tidal Power industry report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation.

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How we have factored the effect of Covid-19 in our report:

All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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