Tidal Energy - Global Strategic Business Report

The global market for Tidal Energy was valued at US$1.4 Billion in 2024 and is projected to reach US$3.8 Billion by 2030, growing at a CAGR of 17.8% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. The report includes the most recent global tariff developments and how they impact the Tidal Energy market.

Global Tidal Energy Market - Key Trends & Drivers Summarized

Is the Ocean the Next Frontier for Renewable Power?

Tidal energy, the process of harnessing electricity from the predictable rise and fall of ocean tides, is emerging as a key component in the global shift toward sustainable energy. Utilizing the gravitational pull of the moon and sun, tidal energy is lauded for its consistency compared to intermittent sources like solar and wind. Technological configurations like tidal barrages, tidal stream generators, and dynamic tidal power systems are being deployed in pilot projects and commercial installations across coastal nations. Among these, tidal stream generators, which resemble underwater wind turbines, are gaining traction for their minimal ecological footprint and scalable architecture. The United Kingdom, France, South Korea, and Canada are at the forefront of tidal infrastructure, supported by favorable government policies and significant R&D investments. Countries with extensive coastlines and strong tidal movements are capitalizing on this resource to diversify their energy mix and reduce dependence on fossil fuels.

The sector has experienced a notable uptick in technological advancements aimed at increasing efficiency, reliability, and cost-competitiveness. Modern materials such as corrosion-resistant alloys and carbon fiber composites are now used in turbine construction to withstand harsh marine conditions, thereby extending operational life and lowering maintenance costs. Innovations in subsea cabling and modular turbine units have further facilitated grid integration and simplified deployment in remote or deep-sea locations. Moreover, hybrid tidal systems combining wave and tidal stream mechanisms are undergoing feasibility assessments, with the potential to maximize energy output using a single platform. In addition, the adoption of AI and IoT for predictive maintenance and real-time performance monitoring is reducing operational downtimes and improving overall project economics. These developments point toward a technologically maturing industry poised for scale.

What’s Steering the Surge in Investment and Policy Support?

Government-led initiatives, favorable regulatory frameworks, and targeted subsidies are accelerating the commercial viability of tidal energy projects. Policies promoting marine spatial planning and environmental impact mitigation have facilitated smoother approval processes for new installations. The EU’s Blue Growth Strategy and the U.S. Department of Energy’s Water Power Technologies Office have both outlined long-term funding and development pathways for ocean energy, specifically earmarking tidal technologies for future capacity expansion. Similarly, Canada’s Marine Renewable Energy Technology Roadmap has provided clear guidelines for integrating tidal systems into provincial grids. International collaborations such as the International Renewable Energy Agency’s (IRENA) Ocean Energy Platform are also fostering knowledge exchange and technical standardization, crucial for cross-border projects and global market uniformity.

Private sector engagement has also intensified, with major energy companies and institutional investors entering the fray through joint ventures, pilot deployments, and funding rounds. Companies like Orbital Marine Power, SIMEC Atlantis, and Nova Innovation have developed proprietary systems that are already generating grid-connected electricity, demonstrating proof of concept. Corporate investment is increasingly being driven by ESG (Environmental, Social, and Governance) mandates, which prioritize renewable portfolios. The establishment of dedicated testing centers, like the European Marine Energy Centre (EMEC) in Scotland and the Fundy Ocean Research Center for Energy (FORCE) in Canada, has enabled rigorous evaluation of prototypes under real-world conditions, reducing commercial risk and bolstering investor confidence. This dual thrust of policy and capital flow is forming the backbone of tidal energy’s global scaling momentum.

Can Market Trends Outpace Challenges in Deployment?

The global tidal energy market is exhibiting consistent growth, yet it is not without challenges. One of the major constraints is the high capital expenditure associated with tidal energy systems, driven by the need for durable materials, seabed anchoring mechanisms, and underwater transmission infrastructure. Unlike land-based renewables, tidal projects must navigate complex maritime zoning laws, ecological concerns, and seasonal access limitations for maintenance. However, recent trends are demonstrating solutions that could flatten these hurdles. For example, modular turbine arrays and floating tidal platforms are being designed to reduce installation complexity and avoid invasive seabed interventions. Such advancements are particularly beneficial for regions with sensitive marine ecosystems or geological instability.

Moreover, geographic diversification is helping mitigate some of the risk. While European nations continue to lead in tidal deployment, interest from Asia-Pacific countries like Indonesia, China, and the Philippines is growing, driven by abundant coastal potential and rising energy demands. Emerging markets in Africa and South America are also exploring tidal integration as part of their broader electrification and decarbonization strategies. The integration of tidal systems with localized microgrids and desalination plants is a niche trend gaining traction, particularly in island and coastal communities. Additionally, revenue stacking through carbon credits, ancillary services, and power purchase agreements is helping to improve the financial feasibility of tidal projects. These nuanced market movements suggest a sector that is evolving with strategic intent.

The Growth in the Tidal Energy Market Is Driven by Several Factors…

…that are largely centered around advanced technological developments, diversifying end-use applications, and rising grid integration capabilities. On the technology front, improvements in turbine efficiency, corrosion resistance, and hydrodynamic modeling have significantly boosted power conversion ratios while lowering levelized costs of energy (LCOE). The shift toward direct-drive systems and gearless turbines is minimizing mechanical failures and enhancing reliability. In terms of end-use expansion, tidal energy is no longer limited to national grids - it is being integrated into industrial parks, maritime logistics hubs, and offshore hydrogen production facilities, broadening its commercial relevance. The growing alignment with blue economy strategies has also encouraged the co-location of tidal farms with aquaculture and marine research zones.

Grid integration remains a key driver, with several countries investing in subsea cable corridors and smart grid infrastructure to accommodate tidal output. Energy storage integration, particularly with marine-based battery systems and compressed air storage, is helping to smooth supply variability during tidal slack periods. Partnerships between utility providers and ocean tech startups are accelerating deployment and reducing project lead times. Furthermore, digital twin technology and machine learning algorithms are being employed for real-time simulation and optimization of turbine performance, ensuring maximum yield with minimal ecological disturbance. Altogether, these interconnected factors are not just supporting growth - they are positioning tidal energy as a competitive, scalable, and indispensable component of the global renewable energy mix.

Report Scope

The report analyzes the Tidal Energy market, presented in terms of market value (US$ Thousand). The analysis covers the key segments and geographic regions outlined below.

Segments: Method (Tidal Stream, Tidal Barrage, Tidal Turbine, Other Methods); Application (Power Generation, Desalination).

Geographic Regions/Countries: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Tidal Stream segment, which is expected to reach US$1.5 Billion by 2030 with a CAGR of a 16.9%. The Tidal Barrage segment is also set to grow at 16.7% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, valued at $382.5 Million in 2024, and China, forecasted to grow at an impressive 24.1% CAGR to reach $860.6 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Tidal Energy Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Tidal Energy Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global Tidal Energy Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of players such as Andritz Hydro Hammerfest, BioPower Systems Pty Ltd, Carnegie Clean Energy, CorPower Ocean, Eco Wave Power and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Some of the 44 companies featured in this Tidal Energy market report include:

• Andritz Hydro Hammerfest
• BioPower Systems Pty Ltd
• Carnegie Clean Energy
• CorPower Ocean
• Eco Wave Power
• EDF (La Rance Tidal Barrage)
• EMEC (European Marine Energy Centre)
• Leask Marine Ltd
• Magallanes Renovables
• Minesto
• Nova Innovation Ltd
• Ocean Flow Energy
• Ocean Renewable Power Company
• Orbital Marine Power
• SAE Renewables
• Sustainable Marine Energy Ltd
• Tocardo
• Verdant Power
• Wave Tidal Energy
• Yam Pro Energy

Tariff Impact Analysis: Key Insights for 2025

Global tariff negotiations across 180+ countries are reshaping supply chains, costs, and competitiveness. This report reflects the latest developments as of April 2025 and incorporates forward-looking insights into the market outlook.

The analysts continuously track trade developments worldwide, drawing insights from leading global economists and over 200 industry and policy institutions, including think tanks, trade organizations, and national economic advisory bodies. This intelligence is integrated into forecasting models to provide timely, data-driven analysis of emerging risks and opportunities.

What's Included in This Edition:

• Tariff-adjusted market forecasts by region and segment
• Analysis of cost and supply chain implications by sourcing and trade exposure
• Strategic insights into geographic shifts

Buyers receive a free July 2025 update with:

• Finalized tariff impacts and new trade agreement effects
• Updated projections reflecting global sourcing and cost shifts
• Expanded country-specific coverage across the industry