Wave and Tidal Energy Market Increasing Demand, Growth Analysis and Future Outlook by 2031

The global wave and tidal energy market is anticipated to grow at a significant CAGR of 17% during the forecast period. The global wave and tidal energy market is witnessing increase in demand owing to a rise in project expansion across countries, resulting in huge electricity cost reductions. Moreover, an increase in investments and new rules by local governments encouraging technology innovators to commercialise their energy converter devices is another factor contributing to the growth of the market. For instance, in November 2021, the UK government announced to invest $27.11 million per year in Tidal Stream electricity across the UK, starting a new chapter for Wales' tidal industry and creating jobs across the Welsh coastal regions as part of its flagship renewable energy auction scheme. The UK Government will ensure that $27.11 million per year is ringfenced for Tidal Stream projects as part of the fourth allocation round of the Contracts for Difference Scheme, giving Wales' marine energy sector a chance to develop technology and lower their costs. This brings the overall funding for this round of allocation to $386.37 million each year across the UK. This opens up a lot of opportunities for new businesses to enter the industry by offering cutting-edge technologies.

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The global wave and tidal energy is segmented based on the technology and end user. Based on the technology , the market is segmented into tidal stream generator,oscillating water columns,barrage and others. Based on the end user, the market is sub-segmented into the residential, commercial and industrial. Among technology, oscillating water columns is the most commonly used technology across the globe, as it is indigenous, renewable, and produce electricity without greenhouse gas emissions with highest power densities than other sources of energy.

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  • Market Coverage

  • Market number available for – 2025-2031

  • Base year- 2025

  • Forecast period- 2025-2031

  • Segment Covered- By Source, By Product Type, By Applications

  • Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill

  • , and others


Market Segmentation

Global Wave and Tidal Energy Market by Technology 

  • Tidal Stream Generator

  • Oscillating Water Columns

  • Barrage

  • Others


Global Wave and Tidal Energy Market by End-User 

  • Residential

  • Commercial

  • Industrial


Regional Analysis

  • North America

  • United States

  • copyright

  • Europe

  • UK

  • Germany

  • Italy

  • Spain

  • France

  • Rest of Europe

  • Asia-Pacific

  • China

  • India

  • Japan

  • South Korea

  • Rest of Asia-Pacific

  • Rest of the World


Company Profiles 

  • AAWW – Energy Oy

  • ANDRITZ AG.

  • Aquanet Power

  • Biopower Systems Pty. Ltd.

  • Blue Water

  • Carnegie Clean Energy

  • CorPower Ocean AB

  • Eco Wave Power Global AB

  • European Marine Energy Centre Ltd.

  • Minesto AB

  • Nova Innovation Ltd.

  • Orbital Marine Power

  • Pacific Northwest National Laboratory

  • SIMEC Atlantics Energy

  • Tidal Lagoon Power Ltd

  • TOCARDO B.V

  • Verdict Media Ltd.

  • Wello OY

  • Yam Pro Energy


The Report Covers

  • Market value data analysis of 2020 and forecast to 2027.

  • Annualized market revenues ($ million) for each market segment.

  • Country-wise analysis of major geographical regions.

  • Key companies operating in the global wave and tidal energy market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

  • Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

  • Analysis of market-entry and market expansion strategies.

  • Competitive strategies by identifying ‘who-stands-where’ in the market.


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