Waves and tidal energy Industry is to reach US$1850.90 million by 2032 at a CAGR of 8.23%, Europe leads the market with 46.23% market share | Major Players:- Aquanet Power, Carnegie Clean Energy, Orbital Marine Power, Yam Pro Energy

The global waves and tidal energy market reached US$983.11 million in 2024 and is expected to reach US$1850.90 million by 2032, growing at a CAGR of 8.23% during the forecast period 2025-2032.

Wave and tidal energy are rapidly emerging as a dynamic frontier in the renewable energy landscape, the remarkable technological breakthroughs and growing success in harnessing the vast power of the oceans. These marine energy sources are not only abundant and sustainable, but recent developments have significantly improved their efficiency and scalability.

DataM Intelligence unveils its latest report on the "Waves and Tidal Energy Market size 2025," offering an in-depth analysis of market trends, growth drivers, competitive landscape, and regional dynamics. The study covers market size in value and volume, CAGR forecasts, and emerging opportunities that can guide businesses in seizing growth potential and crafting winning strategies. Packed with data-driven insights on current developments and future trends, this report is essential for companies aiming to stay ahead in the competitive Market.

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United States: Key Industry Developments (2025)

✅ November 2025: U.S. wave and tidal energy market valuation reached approximately USD 159.17 million, driven by federal incentives, funding programs, and supportive policies for marine energy deployment along coastal regions.

✅ September 2025: Eco Wave Power launched the first onshore wave energy project at the Port of Los Angeles, deploying its patented floaters on existing coastal structures to capture wave motion and generate renewable electricity in demonstration mode.

✅ August 2025: Eco Wave Power installed and lowered its wave energy floaters into the water at AltaSea (Port of Los Angeles) for its U.S. pilot project, marking a key step toward commercial‐scale wave energy operations.

Japan: Key Industry Developments (2025)

✅ August 2025: Proteus Marine Renewables connected Japan's first 1.1 MW tidal turbine (AR1100) in the Naru Strait near Goto Islands, feeding clean and predictable power directly to the grid, advancing the country's marine renewable strategy.

✅ February 2025: Proteus Marine Renewables deployed Japan's first megawatt‐scale tidal energy turbine (1.1 MW) in the Naru Strait to support decarbonization of the Goto Islands' electricity supply and stimulate tidal power adoption

📌 Waves and Tidal Energy Market 2025-26 M&A Deals

→ In November 2025, TIDAL NRG LLC, Energy Tech LLC, and Qynergy signed a strategic Memorandum of Understanding (MOU) to form a joint venture focusing on next-generation power infrastructure and regenerative energy technologies, including wave/tidal systems and advanced materials in Texas.

→ In February 2025, Eco Wave Power Global AB entered a Memorandum of Understanding (MOU) with Bharat Petroleum Corporation Limited (BPCL) to pursue wave energy projects along India's coastline - starting with feasibility studies and pilot opportunities at BPCL's Mumbai Oil Terminal.

→ In 2025, CorPower Ocean expanded through multiple joint ventures and utility partnerships (including with Maersk Supply Service and Aalborg CSP) to accelerate deployment of its C4 wave energy converters in Europe and beyond.

→ In March 2025, Minesto AB formed a strategic partnership with Schneider Electric to co‐develop grid integration and energy‐management solutions for tidal energy deployments.

→ In June 2025, Minesto AB and Atlantis Resources announced a partnership to co‐develop a hybrid tidal + ocean thermal energy conversion (OTEC) platform, aiming to create a multi‐technology marine energy hub leveraging both companies' technology strengths.

→ In March 2025, GE Renewable Energy partnered with Ocean Power Technologies to co‐develop hybrid offshore energy systems integrating wave, tidal, and wind technologies.

→ In August 2025, General Electric (US) announced a strategic partnership with a leading marine engineering firm to accelerate development of next‐generation tidal turbines - including advanced design and materials collaboration.

Why the Waves and Tidal Energy market is growing?

The demand for renewable energy is rising as nations aim to cut greenhouse gas emissions and reach net‐zero targets, directly boosting interest in predictable, carbon‐free maritime power.Governments and regulators worldwide are enforcing stricter building energy codes and green certification standards (e.g., LEED, BREEAM, ENERGY STAR) that favor advanced glass technologies.

In 2024, 65% of wave and tidal projects reported increasing electricity demand from coastal regions as a key driver.

Predictable tidal cycles provide consistent power generation, helping utilities balance grids with high wind and solar penetration.

Floating wave converters, advanced underwater turbines, and hybrid systems (combining wave + tidal + storage) are enhancing energy capture and reducing operating costs.

Digital monitoring, AI predictive maintenance, and improved mooring systems have cut downtime and operational expenditure, making commercial operations more viable.

In water‐scarce regions like the Middle East and North Africa, wave and tidal energy is being explored to power renewable‐driven desalination solutions.

Smaller deployments in island communities and off‐grid locations are becoming feasible, offering diesel replacement opportunities for isolated grids.

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Waves and Tidal Energy Major 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.

Key players highlights:-

1. Aquanet Power - Emerging renewable tech company focused on tidal and wave energy harvesting solutions, driving innovation in ocean‐based power systems. Ranked among key global players in the competitive wave & tidal energy landscape.

2. Carnegie Clean Energy - Australian company developing modular CETO wave energy technology for grid‐connected use and broader utility applications. Recognized as a notable contributor to wave energy tech but not a dominant share leader.

3. Orbital Marine Power - Scottish firm specializing in floating tidal stream turbines with several commercial deployments; among the better‐established tidal technology providers. Featured as one of the significant players with a presence in global project pipelines.

4. Yam Pro Energy - Renewable energy developer engaged in tidal and marine power technologies; positioned in the broader list of competitive companies advancing ocean energy solutions. Part of the diversified mix of innovators without a major market share lead.

5. Ocean Power Technologies, Inc. - U.S. publicly traded company known for its PowerBuoy wave energy technology and remote offshore power systems. Included among key firms contributing to global wave & tidal deployments, though market share is modest relative to top tier.

• Leading marine energy firms like Andritz Hydro, Orbital Marine Power, CorPower Ocean, Ocean Power Technologies, and Minesto together account for about 44.5% of the overall marine/wave & tidal market.

Waves and Tidal Energy Regional Highlights

Europe
• Europe holds 46.23% of the global waves & tidal energy market, making it the largest regional contributor.
• The region leads through strong government policies, subsidies, and extensive offshore installations in the UK, France, Portugal, and Spain.
• High hybrid wave‐tidal systems adoption and EU renewable targets are accelerating commercialization and capacity expansion.

North America
• North America accounts for 37% of the global market share, with the US and Canada predominating.
• Development includes numerous pilot and commercial projects, especially in California, Pacific Northwest, and Atlantic Canada.
• Supportive policies and rising private investment are boosting tidal and wave energy tech deployment.

Asia‐Pacific
• Asia‐Pacific contributes around 21% of the global market and is one of the fastest‐growing regions.
• Growth is driven by planned projects in China, India, Japan, South Korea, and hybrid system investments.
• Government renewable energy initiatives and improved operational efficiencies are fueling regional adoption.

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Waves and Tidal Energy segmentation :

The waves and tidal energy market is analyzed across multiple segments to provide a clear understanding of the industry dynamics. By application, the market is divided into power generation, desalination, and others, highlighting how these technologies contribute to electricity production, freshwater supply, and niche applications. In terms of technology, the market includes wave energy systems, tidal energy systems, and other emerging solutions, focusing on innovations in capturing marine energy efficiently. The regional segmentation covers North America, South America, Europe, Asia-Pacific, and the Middle East & Africa, providing insights into market presence, growth trends, and adoption patterns in each region. Finally, the report insights encompass competitive landscape analysis, company profiles, and market size, share, and growth, offering a comprehensive view of industry players, their strategies, and overall market dynamics.

FAQ'S

1. What is the size of the global waves and tidal energy market?
The market was valued at USD 983.11 million in 2024 and is projected to reach USD 1850.90 million by 2032, growing at a CAGR of 8.23%.

2. Which region dominates the waves and tidal energy market?
Europe leads the market with 46.23% share in 2024, supported by strong investments, R&D, and government-backed renewable energy initiatives.

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