Future of Waves & Tidal Energy Industry Sector, New Projects: Key Drivers, Leading Players - Aquanet Power, Carnegie Clean Energy, Orbital Marine Power, Yam Pro Energy, Ocean Power Technologies, Inc.

Waves and Tidal Energy Market was valued at US$983.11 million in 2024 and is projected to reach US$1,850.90 million by 2032, expanding at a CAGR of 8.23% from 2025 to 2032.

DataM Intelligence has released an in-depth research report on "Waves and Tidal Energy Market Size 2025". This report delivers power-packed insights into key growth drivers, market segmentation, regional trends, CAGR forecasts, revenue performance of top players, and emerging opportunities. Gain a 360° market perspective with detailed analysis on value, volume, and future development trends your ultimate guide to spotting high-impact opportunities and staying ahead in this dynamic market.

Market Size and Future Outlook

✦ 2024 Market Size: US$ 983.11 Million
✦ 2032 Forecast: US$ 1,850.90 Million
✦ CAGR (2025-2032): 8.23%
✦ Largest Market: Europe
✦ Fastest-Growing Market: Asia-Pacific

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Key Drivers

Government Support & Clean Energy Push: Favorable policies and renewable energy initiatives, such as India's pilot wave and tidal projects and BPCL-Eco Wave Power collaboration (2025), are driving market adoption.

High Costs & Infrastructure Barriers: Expensive site assessments, environmental evaluations, and large-scale engineering needs make wave and tidal projects capital-intensive and slow to deploy.

Power Generation Dominance: Rising global electricity demand and technological advancements keep power generation as the leading application, highlighted by the Port of Los Angeles' 2025 onshore wave energy pilot.

Desalination Growth Opportunities: Increasing demand for renewable-powered desalination, supported by partnerships like MediSun Energy's MoUs with Green Tech Environmental (2025), fuels market expansion in water-scarce regions.

Trends and Strategic Insights

Europe led the market in 2024 with a 46.23% revenue share, while the power generation segment accounted for the largest share by application.

List of Top Key Players:

Aquanet Power, Carnegie Clean Energy, Orbital Marine Power, Yam Pro Energy, Ocean Power Technologies, Inc., Bio power Systems Pty Ltd, Aw Energy, Orpc, Inc., Sae Renewables, Andritz.

Forecast Growth Projection:

Global Waves and Tidal Energy Market Positioned for Strong Growth 2025-2032, Building on the steady momentum of 2024, the market is poised for remarkable expansion as leading players embrace innovative technologies and strategic advancements. This evolving landscape is unlocking lucrative opportunities for businesses to invest, scale, and stay ahead in an increasingly competitive and fast-moving market.

Market Research Process:

The Waves and Tidal Energy Market research report by DataM Intelligence combines extensive Primary and Secondary research to provide powerful, in-depth insights. It examines key market drivers such as regulatory frameworks, evolving market conditions, competitive dynamics, historical trends, and breakthrough technologies, while spotlighting emerging innovations and potential challenges. This all-inclusive analysis uncovers high-growth opportunities and highlights possible barriers, equipping businesses to tackle market volatility and capture new avenues for success.

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Market Segments:

By Application: Power Generation, Desalination, Others

By Technology: Wave Energy Systems, Tidal Energy Systems, Others

Regional Trends

In 2025, Europe leads the wave and tidal energy market, driven by strong investments from the UK, Germany, and Italy, along with EU targets of 100 MW by 2025 and 1 GW by 2030 backed by feed-in tariffs, tax breaks, and grants. France's NH1 tidal project secured €31.3 million (USD 33.5 million) in EU funding, while the UK dominates with nearly 40% of global marine energy projects.

Sweden is advancing AI-powered wave technologies through national innovation programs.

The UK market benefits from vast coastlines and a firm commitment to carbon reduction, highlighted by DEFRA's 2025 Marine Strategy Part Three, which promotes sustainable marine energy and ocean ecosystem protection.

France Market:

France is accelerating wave and tidal energy development, leveraging its Atlantic and Channel coastlines and ambitious carbon-reduction goals. In 2023, the government committed €65M (US$76M) and revenue support for the FloWatt tidal pilot farm, advancing marine renewable technologies like tidal barrages and floating platforms.

Asia-Pacific Growth:

Asia-Pacific leads globally, driven by vast coasts and soaring energy demand. China, Japan, and South Korea spearhead investments, with China providing aggressive policy backing and massive funding. In 2025, the Philippines allocated €20M (~US$21.5M) for tidal stream hybrid systems, combining grants and concessional loans.

China Insights:

China's R&D and innovation efforts strengthen domestic turbine production and marine energy leadership. In 2022, LHD New Energy launched the 'Endeavor' megawatt-scale tidal turbine, operating continuously near Xiushan Island for over five years.

India Growth:

India is emerging as a key Asia-Pacific player, driven by rising energy needs and sustainability targets. In February 2025, Eco Wave Power partnered with a Fortune 500 firm to launch the nation's first wave energy pilot, showcased at India Energy Week 2025.

Global Growth Regions:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Sustainability Analysis:

Wave and tidal energy offer clean, zero-emission power, reducing dependence on fossil fuels while supporting biodiversity when carefully planned. In 2025, the UK DEFRA released the Marine Strategy Part Three, emphasizing sustainable wave and tidal energy development alongside marine ecosystem protection.

Benefits of the Report:

Chapter 1: Opens the report with a comprehensive market overview, highlighting key segments by region, product type, and application. It presents a clear snapshot of market size, growth potential by segment, and both short- and long-term outlook.

Chapter 2: Showcases the most impactful insights, uncovering the emerging trends and disruptive forces shaping the industry's future.

Chapter 3: Delivers an in-depth competitive landscape analysis of the Waves and Tidal Energy market, covering revenue shares, strategic moves, and the latest mergers & acquisitions.

Chapter 4: Features detailed profiles of leading players, including their revenue streams, profit margins, product portfolios, and key milestones.

Chapters 5 & 6: Present a granular breakdown of regional and country-level revenue performance, offering a precise view of market size, opportunities, and development prospects worldwide.

Chapter 7: Analyzes market segmentation by product type, revealing the growth potential of each category and spotlighting high-impact.

Chapter 8: Examines application-based market growth, identifying the fastest-expanding sectors and lucrative opportunities for expansion.

Chapter 9: Maps the entire industry supply chain, providing insights into upstream and downstream activities for a complete market perspective.

Chapter 10: Concludes with key findings and actionable takeaways, guiding stakeholders toward strategic decisions and future growth opportunities.

Industry Developments

In 2025, Cor Power Ocean expanded globally through joint ventures with Maersk Supply Service and Aalborg CSP, supporting marine deployment and thermal system integration. Partnerships with utilities in Portugal and Sweden advanced pilot projects, paving the way for the commercial rollout of Cor Power's C4 wave converter.

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Q1: How fast is the Waves and Tidal Energy Market growing?

A: The Market is experiencing strong growth and is projected to expand at a CAGR of 8.23% from 2025 to 2032.

Q2: Which Region Leads Waves and Tidal Energy Market growth?

A: Europe tops market with 46.23% share in 2024.

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