Wave and Tidal Energy Market Size, Share Analysis with Top Market Leaders Atlantis Resources Ltd, Aquamarine Power Ltd, Carnegie Wave Energy Limited, Ocean Power Technologies, IHI Corporation

Market Scenario
Globally, the focus on developing new renewable energy resources has increased so as to reduce carbon emissions and to provide constant power to the ever growing power demand. When harnessed effectively, oceans could prove to be the largest reserves of clean and sustainable energy as well as they could meet the part of global energy demand. Wave and Tidal energy are the two major forms of ocean energy and have huge market dynamics. Wave and tidal energy contribute a lot in generating power in distant remote sites where grid connections can be neither cost-effective nor feasible. Wave and tidal energies are obtained by harnessing the power of tides and waves and they are a constant source of energy due to the gravitational forces of Earth, Sun and Moon.

The ocean is an enormous source of renewable energy which currently remains largely untapped. Wave & tidal energy is one of the important contributor of ocean energy. This marine energy maintains unique advantages when compared to alternative clean energy sources in terms of predictability and more consistent activity cycles. Wave & tidal energy has great potential for future as wave and tides can be much more accurately predicted than wind or sun and due to massive size of oceans. Though it available in plenty, it suffers from huge investment and limits availability of sites where it can be captured.

Tidal energy, which is a mature form of energy, is broadly classified into tidal stream and tidal range energy that are entailed by construction of barrages. On the other hand, wave energy is a relatively new concept and the sector is expected to witness significant market growth during the forecast period in terms of installed capacity and capital investment. Wave and tidal stream technologies have significant potential of reaping benefits of economies of scale. Large-scale commercial array deployments of wave and tidal power plants are projected to be followed by massive cost reductions. Global wave & tidal market is expected to reach market size of USD 15,291.2 Million by 2023 at a CAGR of 17.84%.

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Key Players-
The key players of global wave & tidal energy market are Atlantis Resources Ltd (London), Aquamarine Power Ltd (U.K.), Carnegie Wave Energy Limited (Australia), Ocean Power Technologies Inc.( U.S.), IHI Corporation (Japan), Pelamis Wave Power (Scotland), Ocean Renewable Power CO Llc (Portland), YAM PRO Energy (Israel), Tenax Energy (Australia) and AW Energy Oy Ltd (Vantaa)

Competitive Analysis
Characterized by the presence of several well-established and small players, the global Market of Wave and Tidal Energy appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain competitive advantage in this market and to maintain their market position.

Industry/Innovation/Related News:
January 09, 2018 – The Nova Scotia Department of Energy (NSDOE) allotted the Offshore Energy Research Association (OERA) with a task to commission a study into the feasibility of using dry ports to support the Canadian province’s tidal energy industry. OERA is seeking an organisation to look into the possibilities and economic implications of using the dry ports of Hantsport and Parrsboro to service the tidal industry in Nova Scotia, particularly during operations and maintenance (O&M).

January 10, 2018 – Brunel University London (UK) launched one of their innovations - a lightweight wave device mooring system connector made from the new multi-material connector useful to control the costs in the renewables industry especially off-shore energy. Basaltium, the new connector is made from recycled aluminium strengthened by tiny basalt fibres. The Basaltium core is coated in another innovative material called Oilon – a low-friction nylon - Nylacast. Together, these new materials, Basaltium and Oilon, make connectors lighter and tougher, and mean moorings can last longer and cost less to manufacture and maintain

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Table of Content
1. EXECUTIVE SUMMARY
2 INTRODUCTION$ 0.00
2.1 Scope Of The Study 13
2.2 Assumptions 14
2.3 Market Structure 14

3 RESEARCH METHODOLOGY
3.1 Research Process 15
3.2 Primary Research 16
3.3 Secondary Research 16
3.4 Market Size Estimation 16
3.5 Forecast Model 18

4 MARKET DYNAMICS$ 1,900.00
4.1 Drivers 19
4.1.1 Shrinking Conventional Power Resources 19
4.1.2 Favourable Government Initiatives 20
4.1.3 Long Life 20
4.2 Restraints 21
4.2.1 High Cost Of Construction 21
4.2.2 Lack Of Ideal Locations 21
4.2 Opportunities 21
4.3.1 On Going Development Of Wave & Tidal Energy 21
4.3 Porter's 5 Forces Analysis 22
4.3.1 Threat Of New Entrants 22
4.3.2 Bargaining Power Of Suppliers 23
4.3.3 Threat Of Substitutes 23
4.3.4 Bargaining Power Of Buyers 23
4.3.5 Segment Rivalry 23
4.5 Value Chain 24
Continue………….

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