Global Ocean Power Market 2018-2022
- Published: Mar 2018
- Pages: 110
- SKU: IRTNTR20590
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The global ocean power market size will grow by 795 GWh during 2018-2022. This report offers an analysis of the market based on technology (tidal power and wave power) and geography (Americas, APAC, and EMEA). The report analyzes the market’s competitive landscape and offers information on several companies including ANDRITZ HYDRO Hammerfest, Atlantis Resources, Ocean Power Technologies, OpenHydro, Seabased, and Wello Oy.
Below are some of the key findings from the ocean power market research report
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Global ocean power industry overview
The growing need for reducing the dependency on fossil fuel is one of the key factors driving the growth of the ocean power market. Renewable energy sources such as ocean power are an attractive alternative source of power as they are easy to install and do not emit any direct greenhouse gases. When compared to other renewable energy sources, ocean power is predictable in nature as coastlines experience two low tides and two high tides daily. This allows the operator to transform the wave motion into electricity that becomes a substitute for base load. Governments across the world are adopting renewable energy to regulate carbon dioxide emissions to decarbonize the power system. The growing environmental concerns have forced countries to adopt a diversified energy mix by increasing the share of low/no carbon sources, such as wind, solar, geothermal, and ocean power.
Increasing focus on clean energy development is identified as a key market trend that will gain traction in the coming years. The energy mix is being redefined globally, where the year on year power edition has been on the rise from renewable sources than fossil fuel sources, thus progressing towards a clean energy future. In 2016, the IEA’s Ocean Energy Systems Technology Collaboration Programme (OES TCP) aimed to form collaborations between countries to augment the research, development, and demonstration (RD&D) activities of ocean power technologies to generate electricity. Such initiatives are expected to increase investments in the development of ocean power technologies. Researchers project the global ocean power market to grow at a CAGR of over 10% during the forecast period.
Top ocean power companies covered in this market research report
The ocean power market is highly fragmented. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, this ocean power industry analysis report is designed to aid clients to identify new growth opportunities and formulate new growth strategies.
The report offers a complete analysis of various companies including:
- ANDRITZ HYDRO Hammerfest
- Atlantis Resources
- Ocean Power Technologies
- OpenHydro
- Seabased
- Wello Oy
Ocean power market segmentation based on geographic regions
- Americas
- APAC
- EMEA
The EMEA region will account for the highest growth of the ocean power market throughout the forecast period, attributing around 52% incremental growth. Some of the most consistent and reliable tides are created from the Nordic countries, thus presenting a huge growth potential for the ocean power market.
Ocean power market segmentation based on technology
- Tidal power
- Wave power
The tidal power segment will account for the highest growth in the market. However, the wave power segment is expected to gain some shares from tidal energy in the forthcoming years. Additionally, the report will also provide an accurate prediction of the contribution of the various technology segments to the growth of the ocean power market size.
Key highlights of the global ocean power market for the forecast years 2018-2022:
- CAGR of the market during the forecast period 2018-2022
- Detailed information on factors that will accelerate the growth of the ocean power market during the next five years
- Precise estimation of the global ocean power market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the ocean power industry across the Americas, APAC, and EMEA
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details on the factors that will challenge the growth of the ocean power companies
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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: RESEARCH METHODOLOGY
PART 04: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 05: MARKET SIZING
- Market definition
- Market sizing 2017
- Market size and forecast 2017-2022
PART 06: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 07: MARKET SEGMENTATION BY TECHNOLOGY
- Segmentation by technology
- Comparison by technology
- Tidal power – Market size and forecast 2017-2022
- Wave power – Market size and forecast 2017-2022
- Market opportunity by technology
PART 08: CUSTOMER LANDSCAPE
PART 09: REGIONAL LANDSCAPE
- Geographical segmentation
- Regional comparison
- EMEA – Market size and forecast 2017-2022
- APAC – Market size and forecast 2017-2022
- Americas – Market size and forecast 2017-2022
- Key leading countries
- Market opportunity
PART 10: DECISION FRAMEWORK
PART 11: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 12: MARKET TRENDS
- Increasing focus on clean energy development
- Advances in marine turbines
- Increasing industrial activities and investments
PART 13: VENDOR LANDSCAPE
- Overview
- Landscape disruption
- Competitive scenario
PART 14: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- ANDRITZ HYDRO Hammerfest
- Atlantis Resources
- Ocean Power Technologies
- OpenHydro
- Seabased
- Wello Oy
PART 15: APPENDIX
- List of abbreviations
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases

DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts

REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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