The Demand For Renewable Energy Resources Propelling The Growth Of The Tidal Energy Market: A Key Catalyst Accelerating Tidal Energy Market Growth in 2025

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Tidal Energy Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The size of the tidal energy market has seen considerable expansion in the past few years. Projections suggest that it will increase from $1.16 billion in 2024 to $1.4 billion in 2025, with a compound annual growth rate (CAGR) of 20.8%. The growth observed in the historical period can be credited to factors such as international climate pacts, progress and upkeeping of tidal energy initiatives, a surge in power generation, heightened demand for electricity, and an increase in infrastructural and development endeavors.

Tidal Energy Market Size Forecast: What's the Projected Valuation by 2029?
In the upcoming years, the market size of tidal energy is predicted to experience a surge, elevating to $3.02 billion in 2029 with a compound annual growth rate (CAGR) of 21.1%. The expansion during the forecasted period can be credited to escalating prices of conventional energy resources, heightened public consciousness and apprehension regarding environmental issues, the worldwide transition towards more sustainable energy resources, and the growth of renewable energy assets. Key trends in the forecast period encompass novel developments in tidal energy methodologies, progress in energy storage technologies, the formation of enduring power purchase contracts (PPAs), innovative strides in marine engineering and the advancements made in evaluating environmental impacts.

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What Are the Drivers Transforming the Tidal Energy Market?
The growth of the tidal energy market is projected to be fuelled by escalating demand for renewable energy resources. Renewable energy resources, which can be replenished on a human timescale, are sustainable sources of energy that don't exhaust the Earth's resources when used for power generation. Their growing demand is attributed to advancements in technology that have made renewables more economical and a growing public interest in environmental conservation. Tidal energy enriches the variety of renewable sources by supplementing other sources such as wind and solar. This contributes to a more diversified and stable renewable energy portfolio, satisfying global energy needs. For instance, the U.S. Energy Information Administration reported in July 2024 that renewable energy contributed around 9% to the total primary energy production and consumption in 2023. Additionally, hydropower generation saw an increase of roughly 6% in comparison to 2022. Consequently, the demand for renewable energy resources is stimulating the growth of the tidal energy market.

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What Long-Term Trends Will Define the Future of the Tidal Energy Market?
Top firms in the tidal energy market are channeling their resources into pioneering projects and investment opportunities, including initiatives demonstrating tidal energy capabilities, in order to boost efficiency and demonstrate the potential of new technologies. Tidal energy demonstration initiatives refer to projects meant to highlight the potential of tidal energy technologies and accelerate their evolution for market use. Governments, research institutions, and private businesses often back these initiatives to test and enhance tidal energy systems under real conditions. For instance, in March 2023, Bluenergy Solutions, a renewable energy solutions provider based in Singapore, initiated its Proof of Value (POV) project. The project, located off the coast of Singapore close to Raffles Lighthouse on Pulau Satumu, is a tidal energy demonstration initiative. There, four small tidal generators (7 kW each) aim to tap into tidal currents in a bid to replace the lighthouse's diesel power, thus decreasing carbon emissions and furthering Singapore's decarbonisation objectives. This represents a notable move towards the adoption of marine renewable energy solutions in Singapore, aiding in the country's electrification and decarbonisation ambitions.

Which Segments in the Tidal Energy Market Offer the Most Profit Potential?
The tidal energymarket covered in this report is segmented -

1) By Method: Tidal Stream, Tidal Barrage, Tidal Turbine, Other Methods
2) By Capacity: Up To 100 kW, 100 kW To 500 kW, Above
3) By Depth Of Installation: Shallow Water, Transitional Water, Deep Water
4) By Application: Power Generation, Desalination

Subsegments:
1) By Tidal Stream: Horizontal Axis Tidal Turbine, Vertical Axis Tidal Turbine
2) By Tidal Barrage: Large-Scale Barrages, Small-Scale Barrages
3) By Tidal Turbine: Single Turbine Systems, Multi-Turbine Arrays
4) By Other Methods: Oscillating Water Columns, Dynamic Tidal Power Systems, Tidal Kites

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Which Firms Dominate the Tidal Energy Market by Market Share and Revenue in 2025?
Major companies operating in the tidal energy market are Alstom, AtkinsRéalis, Voith Hydro, EDF Renewables, AqualisBraemar LOC, Trident Energy, SCHOTTEL HYDRO GmbH, Verdant Power Inc., SIMEC Atlantis Energy, Aberdeen Renewable Energy Group (AREG), Blue Energy Canada, Nova Innovation, Minesto, Tocardo Tidal Power, Makai Ocean Engineering, Ocean Renewable Power Company (ORPC), Orbital Marine Power, Silverstream Technologies, DP Energy, Kepler Energy, Magallanes Renovables S.L., Instream Energy Systems, OpenHydro, Sustainable Marine Energy Ltd

Which Regions Offer the Highest Growth Potential in the Tidal Energy Market?
Europe was the largest region in the tidal energy market in 2024. The regions covered in the tidal energy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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