Press release
Wave and Tidal Energy Market to Surpass USD 10,088.69 Billion by 2033, Growing at a CAGR of 20.3% | Straits Research
Wave and Tidal Energy Market Size
Wave and tidal energy harness the immense power of ocean surface waves and tidal currents to generate clean electricity, desalinate water, and support water pumping applications. As one of the most promising sources of renewable energy, ocean-based power generation offers an abundant and sustainable solution to the global energy crisis.
Download Exclusive Research Report PDF Sample: (Including Full TOC, List of Tables & Figures, Chart) : https://straitsresearch.com/report/wave-and-tidal-energy-market/request-sample
Market Drivers
Urgent Need to Replace Fossil Fuels with Renewable Sources
The growing urgency to reduce dependence on fossil fuels such as coal, gas, and oil is a major driver of the wave and tidal energy market. Rising concerns over carbon emissions, global warming, and air pollution have accelerated the shift toward clean and renewable energy solutions. Governments across the globe are prioritizing renewable energy adoption to ensure political stability, energy sovereignty, and sustainable economic growth.
While solar and wind energy are well-established, they face challenges related to land usage and intermittency. Ocean energy, in contrast, offers consistent and high-density renewable power, making it a vital pillar of the global Green Transition.
For more insights and detailed analysis on the Market, visit : https://straitsresearch.com/report/wave-and-tidal-energy-market
Government Funding and Technological Advancements
The global market is also benefiting from strong government support, funding programs, and favorable regulatory frameworks promoting marine energy development. Countries including China, India, the United Kingdom, and Canada are investing heavily in ocean-based technologies through subsidies, pilot projects, and carbon reduction initiatives.
Infrastructure advancements and cost-effective technology deployment are key strategies driving growth. In particular, the United Kingdom continues to lead with clean energy policies, cost-reduction targets, and technological innovation to enhance the commercial viability of marine energy systems.
Market Challenges
Despite its promise, the industry faces challenges such as high capital costs, limited technology maturity, and operational constraints. The intermittent nature of wave and tidal sources, alongside financing limitations and potential environmental impacts on marine life, remain obstacles to large-scale deployment. However, continuous R&D, innovation in turbine design, and improved financial mechanisms are expected to overcome these hurdles over time.
Download Exclusive Research Report PDF Sample: (Including Full TOC, List of Tables & Figures, Chart) : https://straitsresearch.com/report/wave-and-tidal-energy-market/request-sample
Opportunities
Rising Investments and Government Programs Create New Pathways
Ongoing technological advancements, coupled with robust government policy frameworks and predictable renewable energy incentives, are creating new opportunities for players in the wave and tidal energy market. Large-scale demonstration projects and prototype developments have accelerated global progress, bringing the technology closer to cost-competitive commercial deployment.
This sector also benefits from diverse power generation technologies, such as oscillating water columns, tidal turbines, and tidal barrages, which enhance efficiency and scalability across different marine environments.
Regional Insights
Asia Pacific Dominates the Global Market
In 2022, the Asia Pacific region accounted for 42.5% of the global wave and tidal energy market share, driven by strong government initiatives, rapid economic development, and growing demand for sustainable energy. Nations such as China, Japan, India, and Thailand are leading innovation and pilot testing at full-scale marine sites. China, in particular, continues to expand its presence through active development at test sites in Weihai (Shandong), Zhejiang, and Wanshan (Guangdong).
North America Continues to Expand Marine Energy Capacity
The North American market has witnessed significant advancements, with renewable energy contributing nearly 16.7% of total U.S. electricity generation in 2022. Canada remains a leader in marine energy development through substantial government investments and research programs. The province of Nova Scotia has invested over USD 80 million since 2010, including direct funding for FORCE (Fundy Ocean Research Center for Energy) the country's premier in-stream tidal research hub.
For more insights and detailed analysis on the Market, visit : https://straitsresearch.com/report/wave-and-tidal-energy-market
Market Segmentation
By Technology (2021-2033)
Wave Energy: Oscillating Water Columns, Oscillating Body Converter, Others
Tidal Energy: Tidal Turbine, Tidal Stream Generator, Tidal Barrages, Tidal Fences, Others
By Application (2021-2033)
Power Generation
Desalination
Others
By Region (2021-2033)
North America
Europe
Asia Pacific (APAC)
Middle East & Africa
Latin America (LATAM)
Key Market Players
BioPower Systems Pty. Ltd.
Blue Energy Canada Inc.
Nova Innovation Ltd.
Applied Technologies Company, Ltd.
Aqua-Magnetics Inc.
Ocean Power Technologies Inc.
Aquagen Technologies
Carnegie Wave Energy Ltd.
Corpower Ocean AB
Ocean Renewable Power Company, LLC
Orbital Marine Power
SIMEC Atlantis Energy Ltd
Verdant Power, Inc.
Eco Wave Power AB
Pelamis Wave Power
Browse More Insights & Reports :
Air-Cooled Heat Exchanger Market : https://straitsresearch.com/report/air-cooled-heat-exchanger-market
Bio-Alcohol Market : https://straitsresearch.com/report/bio-alcohol-market
Biochar Market : https://straitsresearch.com/report/biochar-market
Bioenergy Market : https://straitsresearch.com/report/bioenergy-market
Bioethanol Market : https://straitsresearch.com/report/bioethanol-market
Contact Us
Office 515 A, Amanora Chambers,
Amanora Park Town, Hadapsar,
Pune 411028, Maharashtra, India.
+1 646 905 0080 (U.S.)
+91 8087085354 (India)
+44 203 695 0070 (U.K.)
sales@straitsresearch.com
About Us
For over a decade, Straits Research has been a trusted partner to more than 2,000 small and large enterprises, empowering senior leaders and decision-makers with actionable intelligence to navigate complex markets. Our structured syndicate reports, published year-round, cover critical sectors such as chemicals, materials, food and beverage, healthcare, pharmaceuticals, automotive, technology, aerospace, and defense. Combined with our custom research tailored to client-specific needs, we deliver insights that drive business progress and informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Wave and Tidal Energy Market to Surpass USD 10,088.69 Billion by 2033, Growing at a CAGR of 20.3% | Straits Research here
News-ID: 4222107 • Views: …
More Releases from Straits Research
Biobanking Market to Reach USD 170.93 Billion by 2033, Driven by Surge in Chroni …
According to a new report by Straits Research, the global biobanking market was valued at USD 82.03 billion in 2024 and is projected to grow from USD 89.00 billion in 2025 to USD 170.93 billion by 2033, expanding at a CAGR of 8.5% during the forecast period (2025-2033). The market's rapid growth is fueled by the increasing research and development activities in biobank specimen applications, the rising prevalence of chronic…
Public Safety-LTE Market to Reach USD 363.45 Billion by 2033 | Growing at 30% CA …
According to a new report published by Straits Research, the global Public Safety-LTE Market size was valued at USD 34.27 billion in 2024 and is projected to grow from USD 44.56 billion in 2025 to reach USD 363.45 billion by 2033, registering a compound annual growth rate (CAGR) of 30% during the forecast period (2025-2033).
The growing reliance on LTE networks for public safety and critical
communication is driving substantial market…
Defibrillator Market to Reach USD 25.97 Billion by 2033, Growing at 7.18% CAGR | …
According to a new report by Straits Research, the global defibrillator market size, valued at USD 13.91 billion in 2024, is projected to grow from USD 12.11 billion in 2025 to USD 25.97 billion by 2033, expanding at a compound annual growth rate (CAGR) of 7.18% during the forecast period (2025-2033).
A defibrillator is a life-saving medical device used to deliver a therapeutic electric shock to the heart to restore normal…
Global Clinical Decision Support Systems Market Size Worth USD 4.27 Billion by 2 …
According to a new report by Straits Research, the global Clinical Decision Support Systems (CDSS) market was valued at USD 2.17 billion in 2023 and is projected to reach USD 4.27 billion by 2032, growing at a compound annual growth rate (CAGR) of 6.83% during the forecast period (2024-2032). The surge in demand for quality healthcare, the rise in technology-driven solutions, and the growing adoption of CDSS across hospitals and…
More Releases for Energy
Green Renewable Energy Market Next Big Thing: Enphase Energy, Bloom Energy, Clea …
Advance Market Analytics published a new research publication on "Green Renewable Energy Market Insights, to 2030" with 232 pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Green Renewable Energy market was mainly driven by the increasing R&D spending across the world.
Get inside Scoop of the…
Business Energy Solution Market Size in 2023 To 2029 | SSE Energy Solutions, BES …
The large-scale Business Energy Solution market report provides valuable insights for clients looking to forecast investments in emerging markets, expand market share, or launch new products. The report presents multifaceted Business Energy Solution market insights that are simplified using established tools and techniques, making it a credible marketing report. Data is presented in a clear and easy-to-understand manner, with graphs and charts to aid comprehension. The report employs integrated approaches…
Decentralized Energy Storage Market Is Booming Worldwide | Fuelcell Energy, Enph …
A new business intelligence report released by AMA with title "Decentralized Energy Storage Market" has abilities to raise as the most significant market worldwide as it has remained playing a remarkable role in establishing progressive impacts on the universal economy. The Global Decentralized Energy Storage Market Report offers energetic visions to conclude and study market size, market hopes, and competitive surroundings. The research is derived through primary and secondary statistics…
Waste-To-Energy Technologies Market Top Growing Companies: Xcel Energy, Novo Ene …
Qurate Business Intelligence’s up-to-date research study on Waste-To-Energy Technologies was performed by highly qualified research professionals and industry experts. This is to provide an in-depth analysis on the Waste-To-Energy Technologies. The report is comprehensive and includes over 120 pages. The global energy market is witnessing a shift toward waste to energy technologies due to growing energy demands worldwide, the rapid depletion of conventional sources of energy, and concerns over…
Waste To Energy Market ||Novo Energy Ltd., Hitachi Zosen, Foster Wheeler A.G., S …
Zion Market Research published a new 110+ pages industry research "Global Waste to Energy Market Set For Rapid Growth, To Reach Value Around USD 42.74 Billion By 2024" is exhaustively researched and analyzed in the report to help market players to improve their business tactics and ensure long-term success. The authors of the report have used easy-to-understand language and uncomplicated statistical images but provided thorough information and detailed data on…
In-Pipe Hydro Systems Market | key player - Lucid Energy, Rentricity, Tecnoturbi …
Looking at the current market trends as well as the promising demand status of the “In-Pipe Hydro Systems Market” it can be projected that the future years will bring out positive outcomes. This research report added by MRRSE on its online portal delivers clear insight about the changing tendencies across the global market. Readers can gather prime facets connected to the target market which includes product, end-use and application; assisting…
