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Ocean Energy - Global Market Trajectory & Analytics

  • ID: 1227801
  • Report
  • June 2020
  • Region: Global
  • 109 Pages
  • Global Industry Analysts, Inc
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Amid the COVID-19 crisis and the looming economic recession, the Ocean Energy market worldwide will grow by a projected 25.3 Million Kilowatts, during the analysis period, driven by a revised compounded annual growth rate (CAGR) of 46.2%. Ocean Energy, one of the segments analyzed and sized in this study, is forecast to grow at over 46.2% and reach a market size of 27.2 Million Kilowatts by the end of the analysis period. An unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. The Ocean Energy market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Staying on top of trends and accurate analysis is paramount now more than ever to manage uncertainty, change and continuously adapt to new and evolving market conditions.

As part of the new emerging geographic scenario, the United States is forecast to readjust to a 43.3% CAGR. Within Europe, the region worst hit by the pandemic, Germany will add over 610.7 Thousand Kilowatts to the region's size over the next 7 to 8 years. In addition, over 1.1 Million Kilowatts worth of projected demand in the region will come from Rest of European markets. In Japan, the Ocean Energy segment will reach a market size of 951.8 Thousand Kilowatts by the close of the analysis period. Blamed for the pandemic, significant political and economic challenges confront China. Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world will influence competition and opportunities in the Ocean Energy market. Against this backdrop and the changing geopolitical, business and consumer sentiments, the world’s second largest economy will grow at 39.8% over the next couple of years and add approximately 2.3 Million Kilowatts in terms of addressable market opportunity. Continuous monitoring for emerging signs of a possible new world order post-COVID-19 crisis is a must for aspiring businesses and their astute leaders seeking to find success in the now changing Ocean Energy market landscape. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.

Competitors identified in this market include, among others are:
  • Able Technologies
  • Albatern Ltd.
  • Applied Technologies Company, Ltd.
  • AquaGen Technologies
  • Aqua-Magnetics Inc.
  • Atargis Energy Corporation
  • Atlantis Resources Ltd.
  • BioPower Systems Pty. Ltd.
  • Blue Energy Canada Inc.
  • Carnegie Clean Energy Limited
  • Minesto AB
  • Nova Innovation Ltd.
  • Ocean Power Technologies Inc.
  • Ocean Renewable Power Company, LLC
  • OpenHydro Group Limited
  • Scotrenewables Tidal Power Ltd.
  • Tocardo International BV
  • Verdant Power, Inc.

The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
Note: Product cover images may vary from those shown
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I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
Ocean Energy: Harnessing the Sheer Potential of Oceans & Seas for Meeting Future Energy Needs
Important Factors Influencing the Global Ocean Energy Market
Recent Market Activity
Shift to Renewable Sources of Energy: An Inevitable Reality
Huge Untapped Kinetic Energy Potential of Oceans: A Fundamental Growth Driver
Fast Facts
Growth Drivers in a Nutshell
Key Market Inhibitors
Government Intervention Critical for Commercial Success of Ocean Energy
Domestic Targets for Greenhouse Gas Emissions of Select Regions/Countries
Technology Commercialization: Need of the Hour
Ocean Energy - A Review of Current Scenario
Global Market Outlook
Europe Leads the Global Ocean Energy Market
Asia-Pacific: Frontrunner in Tidal Barrage Power Plants
Global Competitor Market Shares
Ocean Energy Competitor Market Share Scenario Worldwide (in %): 2020 & 2029
Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS
Able Technologies, L.L.C. (USA)
Albatern Ltd. (UK)
Applied Technologies Company, Ltd. (Russia)
AquaGen Technologies (Australia)
Aqua-Magnetics Inc. (USA)
Atargis Energy Corporation (USA)
Atlantis Resources Ltd. (UK)
BioPower Systems Pty. Ltd. (Australia)
Blue Energy Canada Inc. (Canada)
Carnegie Clean Energy Limited (Australia)
Minesto AB (Sweden)
Nova Innovation Ltd. (UK)
Ocean Power Technologies Inc. (USA)
Ocean Renewable Power Company, LLC (USA)
OpenHydro Group Limited (Ireland)
Scotrenewables Tidal Power Ltd. (Scotland)
Tocardo International BV (Netherlands)
Verdant Power, Inc. (USA)

3. MARKET TRENDS & DRIVERS
Growing Number of Wave Energy Projects Worldwide Drives Strong Market Growth
Major Wave Energy Projects Worldwide: Project Proponent, Technology, Location, Capacity (MW) and Development Stage
Tidal Energy Gains Momentum
MeyGen - A Multi-Turbine Tidal Stream Project in Scotland
Tidal Energy Projects Worldwide
Tidal Stream Projects Lends Traction to Market Growth
Tidal Range Projects to Face Challenges
Ocean Thermal Energy Conversion (OTEC) - A Niche Segment
OTEC Project on the South Pacific Ocean Obtains Bureau Veritas Approval
Other FOWT Projects
Major FOWT Projects Worldwide: Project Proponent, Technology, Location, Capacity (MW) and Development Stage
Rising Investments in Renewable Energy Sources Benefit Market Expansion
Superior Attributes of Tidal Energy Attract New Developers, Benefits Market Adoption
Horizontal Axis Turbines Grab Lion’s Share of Tidal Energy Devices
Tidal Energy: Abundant Resources despite Technology Barriers
Despite Dominance of Tidal Energy, Wave Energy Garner Growing Attention and Investments
Small Islands Provide Big Push for Ocean Thermal Energy Conversion Plants
Surveys to Play a Vital Role in Project Developments
Robust Electric Power Consumption Drives the Need for Alternative Energy Sources
Burgeoning Global Population Propels Demand for Electric Power
Key Challenges Hampering Ocean Energy Development
Financial Support and Markets
Administrative and Environmental Issues
Availability of Grid Close to Projects
Grid Integration
Technology Advancements
PLAT-O Driving Down Tidal Energy Costs
bioWAVE: The New Ocean Energy Harnessing Device Deployed off the Australian Coast
THWAT Turbine for Tidal Energy
HiWave: A Novel WEC Technology that Works on the Human Heart Blood Pumping Principle
Xenesys and Saga University to Develop OTEC Technology
Japan Houses the State-of-the-Art OTEC Center
Technology Developments to Harness Salt Power

4. GLOBAL MARKET PERSPECTIVE
TABLE 1: Ocean Energy Global Market Estimates and Forecasts in Kilowatts by Region/Country: 2020-2027
TABLE 2: Ocean Energy Market Share Shift across Key Geographies Worldwide: 2020 VS 2027

III. MARKET ANALYSIS
GEOGRAPHIC MARKET ANALYSIS
UNITED STATES
Market Facts & Figures
Market Analytics
TABLE 3: United States Ocean Energy Market Estimates and Projections in Kilowatts: 2020 to 2027
CANADA
TABLE 4: Canadian Ocean Energy Market Estimates and Forecasts in Kilowatts: 2020 to 2027
JAPAN
TABLE 5: Japanese Market for Ocean Energy: Annual Sales Estimates and Projections in Kilowatts for the Period 2020-2027
CHINA
TABLE 6: Chinese Ocean Energy Market Growth Prospects in Kilowatts for the Period 2020-2027
EUROPE
Market Facts & Figures
Market Analytics
TABLE 7: European Ocean Energy Market Demand Scenario in Kilowatts by Region/Country: 2018-2025
TABLE 8: European Ocean Energy Market Share Shift by Region/Country: 2020 VS 2027
FRANCE
TABLE 9: Ocean Energy Market in France: Estimates and Projections in Kilowatts for the Period 2020-2027
GERMANY
TABLE 10: Ocean Energy Market in Germany: Recent Past, Current and Future Analysis in Kilowatts for the Period 2020-2027
ITALY
TABLE 11: Italian Ocean Energy Market Growth Prospects in Kilowatts for the Period 2020-2027
UNITED KINGDOM
TABLE 12: United Kingdom Market for Ocean Energy: Annual Sales Estimates and Projections in Kilowatts for the Period 2020-2027
REST OF EUROPE
TABLE 13: Rest of Europe Ocean Energy Market Estimates and Forecasts in Kilowatts: 2020-2027
ASIA-PACIFIC
TABLE 14: Ocean Energy Market in Asia-Pacific: Estimates and Projections in Kilowatts for the Period 2020-2027
REST OF WORLD
TABLE 15: Rest of World Ocean Energy Market Estimates and Forecasts in Kilowatts: 2020 to 2027

IV. COMPETITION
Total Companies Profiled: 61
Note: Product cover images may vary from those shown
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