Wave and Tidal Energy Market
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<strong>Wave</strong> <strong>and</strong> <strong>Tidal</strong> <strong>Energy</strong> <strong>Market</strong><br />
REPORT DESCRIPTION<br />
<strong>Wave</strong> <strong>and</strong> <strong>Tidal</strong> <strong>Energy</strong> <strong>Market</strong>- Global Industry Analysis, Size, Share, Growth, Trends, <strong>and</strong> Forecast<br />
2016 - 2024<br />
Transparency <strong>Market</strong> Research has released a new market report titled, <strong>Wave</strong> <strong>and</strong> <strong>Tidal</strong> <strong>Energy</strong> <strong>Market</strong> -<br />
Global Industry Analysis, Size, Share, Growth, Trends, <strong>and</strong> Forecast, 2016-2024. According to the report,<br />
the global wave <strong>and</strong> tidal energy market was valued at US$ 497.7 Mn in 2014 <strong>and</strong> is anticipated to reach US$<br />
11345.0 Mn in 2024, exp<strong>and</strong>ing at a CAGR of 23.2% from 2016 to 2024.<br />
Browse the full <strong>Wave</strong> <strong>and</strong> <strong>Tidal</strong> <strong>Energy</strong> <strong>Market</strong> - Global Industry Analysis, Size, Share, Growth, Trends<br />
<strong>and</strong> Forecast 2014 - 2020 report at http://www.transparencymarketresearch.com/wave-tidal-energymarket.html<br />
When harnessed effectively, ocean could prove to be one of the largest reserves of clean <strong>and</strong> sustainable<br />
energy. <strong>Wave</strong> <strong>and</strong> tidal energy are the two major forms of harnessing ocean energy. These have significantly<br />
different market dynamics. <strong>Tidal</strong> energy can be broadly segmented into tidal stream <strong>and</strong> tidal range energy.<br />
<strong>Tidal</strong> range power plants entail construction of tidal barrages. This is a mature form of energy generation<br />
technology. Commissioned in 2011, the Sihwa Lake <strong>Tidal</strong> Power Station with 254 MW capacity in South Korea<br />
replaced France’s Rance <strong>Tidal</strong> Power Station as the largest tidal power plant in the world. <strong>Tidal</strong> stream power<br />
plants are a relatively new technology with ample scope for development. <strong>Wave</strong> energy is a relatively new<br />
concept. The two sectors are likely to experience significant market growth in terms of installed capacity <strong>and</strong><br />
investments in the near future.<br />
Currently, over 200 companies operate in the wave <strong>and</strong> tidal energy sector. Most of these players are<br />
extensively involved in the business of development of energy converter technology. <strong>Wave</strong> <strong>and</strong> tidal stream<br />
technologies have significant potential of reaping benefits of economies of scale. Large-scale commercial array<br />
deployments of wave <strong>and</strong> tidal power plants are projected to be followed by massive cost reductions. Strong<br />
development of the offshore wind energy sector in several countries can contribute significantly to cost<br />
reduction potential of wave <strong>and</strong> tidal energy. The path from prototype testing <strong>and</strong> project demonstration to<br />
Transparency <strong>Market</strong> Research<br />
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