by The marine energy market size is poised to grow by USD 6,226.78 million by 2032 from USD 914.2 million in 2022, exhibiting a CAGR of 21.20% during the forecast period 2023-2032.
Key Takeaways
- Europe contributed more than 45% of revenue share in 2022.
- Asia Pacific is estimated to expand the fastest CAGR between 2023 and 2032.
- By Type, the wave energy segment has held the largest market share of 38% in 2022.
- By Type, the salinity gradient power (SGP) segment is anticipated to grow at a remarkable CAGR of 22.1% between 2023 and 2032.
- By Application, the power generation segment generated over 44% of revenue share in 2022.
- By Application, the others segment is expected to expand at the fastest CAGR over the projected period.
Precedence Research has conducted a comprehensive market study that provides valuable insights into the performance of the market during the forecast period. The study identifies significant trends that are shaping the growth of the Marine energy market. In this recently published report, essential dynamics such as drivers, restraints, and opportunities are highlighted for both established market players and emerging participants involved in production and supply.
To begin with, the Marine energy Market report features an executive summary that offers a concise overview of the marketplace. It outlines the key players and industry categories expected to have an impact on the market in the coming years. The executive summary provides an unbiased summary of the market.
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Marine Energy Market Scope
| Report Coverage | Details |
| Growth Rate from 2023 to 2032 | CAGR of 21.20% |
| Market Size in 2023 | USD 1,103.44 Million |
| Market Size by 2032 | USD 6,226.78 Million |
| Largest Market | Europe |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | By Type and By Application |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Read More: Copper Market Size To Gain USD 497.86 Bn by 2032
The empirical study on the global Marine energy market primarily focuses on the drivers in subsequent sections. It demonstrates how changing demographics are projected to influence the supply and demand dynamics in the Marine energy Market. Our market report for the Marine energy market also delves into the significant rules and regulations that are likely to impact the future growth of this sector. Moreover, in order to comprehend the underlying demand factors, industry experts have provided insights into its fundamental origins.
Top Key Players:
Marine Energy Market Players
- Ocean Power Technologies
- Minesto AB
- Atlantis Resources
- Carnegie Clean Energy
- Wello
- CorPower Ocean
- Ocean Renewable Power Company
- Aquamarine Power
- Seabased
- BioPower Systems
- AW-Energy
- Magallanes Renovables
- Orbital Marine Power
- SIMEC Atlantis Energy
- Oscilla Power, Inc.
Data Sources and Methodology
To gather comprehensive insights on the Global Marine energy Market, we relied on a range of data sources and followed a well-defined methodology. Our approach involved interactions with industry experts and key stakeholders across the market’s value chain, including management organizations, processing organizations, and analytics service providers.
We followed a rigorous data analysis process to ensure the quality and credibility of our research. The gathered information was carefully evaluated, and relevant quantitative data was subjected to statistical analysis. By employing robust analytical techniques, we were able to derive meaningful insights and present a comprehensive overview of the Global Marine energy Market.
The most resonating, simple, genuine, and important causes because of which you must decide to buy the Marine energy market report exclusively from precedence research
- The research report has been meticulously crafted to provide comprehensive knowledge on essential marketing strategies and a holistic understanding of crucial marketing plans spanning the forecasted period from 2023 to 2032.
Key Features of the Report:
- Comprehensive Coverage: The report extensively encompasses a detailed explanation of highly effective analytical marketing methods applicable to companies across all industry sectors.
- Decision-Making Enhancement: It outlines a concise overview of the decision-making process while highlighting key techniques to enhance it, ensuring favorable business outcomes in the future.
- Articulated R&D Approach: The report presents a well-defined approach to conducting research and development (R&D) activities, enabling accurate data acquisition on current and future marketing conditions.
Market Segmentation:
By Type
- Wave energy
- Tidal energy
- Ocean thermal energy conversion (OTEC)
- Salinity gradient power (SGP)
By Application
- Power generation
- Desalination
- Hydrogen production
- Other (e.g., aquaculture, transportation)
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
Reasons to Consider Purchasing the Report:
- Enhance your market research capabilities by accessing this comprehensive and precise report on the global Marine energy market.
- Gain a thorough understanding of the overall market landscape and be prepared to overcome challenges while ensuring robust growth.
- Benefit from in-depth research and analysis of the latest trends shaping the global Marine energy market.
- Obtain detailed insights into evolving market trends, current and future technologies, and strategic approaches employed by key players in the global Marine energy market.
- Receive valuable recommendations and guidance for both new entrants and established players seeking further market expansion.
- Discover not only the cutting-edge technological advancements in the global Marine energy market but also the strategic plans of industry leaders.
Table of Content
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology (Premium Insights)
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Marine Energy Market
5.1. COVID-19 Landscape: Marine Energy Industry Impact
5.2. COVID 19 – Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Marine Energy Market, By Type
8.1. Marine Energy Market, by Type, 2023-2032
8.1.1. Wave energy
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Tidal energy
8.1.2.1. Market Revenue and Forecast (2020-2032)
8.1.3. Ocean thermal energy conversion (OTEC)
8.1.3.1. Market Revenue and Forecast (2020-2032)
8.1.4. Salinity gradient power (SGP)
8.1.4.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Marine Energy Market, By Application
9.1. Marine Energy Market, by Application, 2023-2032
9.1.1. Power generation
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. Desalination
9.1.2.1. Market Revenue and Forecast (2020-2032)
9.1.3. Hydrogen production
9.1.3.1. Market Revenue and Forecast (2020-2032)
9.1.4. Other (e.g., aquaculture, transportation)
9.1.4.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Marine Energy Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Type (2020-2032)
10.1.2. Market Revenue and Forecast, by Application (2020-2032)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Type (2020-2032)
10.1.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Type (2020-2032)
10.1.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Type (2020-2032)
10.2.2. Market Revenue and Forecast, by Application (2020-2032)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Type (2020-2032)
10.2.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Type (2020-2032)
10.2.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.2.5. France
10.2.5.1. Market Revenue and Volume Forecast, by Type (2020-2032)
10.2.5.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Type (2020-2032)
10.2.6.2. Market Revenue and Forecast, by Application (2020-2032)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Type (2020-2032)
10.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Type (2020-2032)
10.3.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Type (2020-2032)
10.3.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Type (2020-2032)
10.3.5.2. Market Revenue and Forecast, by Application (2020-2032)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Type (2020-2032)
10.3.6.2. Market Revenue and Forecast, by Application (2020-2032)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Type (2020-2032)
10.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Type (2020-2032)
10.4.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Type (2020-2032)
10.4.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Type (2020-2032)
10.4.5.2. Market Revenue and Forecast, by Application (2020-2032)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Type (2020-2032)
10.4.6.2. Market Revenue and Forecast, by Application (2020-2032)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Type (2020-2032)
10.5.2. Market Revenue and Forecast, by Application (2020-2032)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Type (2020-2032)
10.5.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Type (2020-2032)
10.5.4.2. Market Revenue and Forecast, by Application (2020-2032)
Chapter 11. Company Profiles
11.1. Ocean Power Technologies
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Minesto AB
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Atlantis Resources
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Carnegie Clean Energy
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Wello
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. CorPower Ocean
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Ocean Renewable Power Company
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Aquamarine Power
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Seabased
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. BioPower Systems
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
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