Wave and Tidal Energy Market to Be Worth US$10.1 Billion by 2020

Transparency Market
Research
Wave and Tidal Energy Market - Global Industry Analysis,
Size, Share, Growth, Trends and Forecast 2014 - 2020
Published Date
2014-06-30
139 Page Report
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Global Wave and Tidal Energy Market is expected to reach USD
10.10 billion in 2020
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Global Wave and Tidal Energy
Market
REPORT DESCRIPTION
Transparency Market Research has released a new market report titled “Wave and Tidal Energy Market - Global Industry
Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020.” According to the report, the wave and tidal energy
market was valued at USD 25 million in 2013 and is anticipated to reach USD 10.1 billion in 2020, expanding at a CAGR
of 64.1% from 2014 to 2020.
Browse the full Wave and Tidal Energy Market report at
http://www.transparencymarketresearch.com/wave-tidal-energy-market.html
When harnessed effectively, ocean could prove to be one of the largest reserves of clean and sustainable energy. Wave
and tidal energy are the two major forms of harnessing ocean energy. These have significantly different market dynamics.
Tidal energy can be broadly segmented into tidal stream and tidal range energy. Tidal range power plants entail
construction of tidal barrages. This is a mature form of energy generation technology. Commissioned in 2011, the Sihwa
Lake Tidal Power Station with 254 MW capacity replaced France’s Rance Tidal Power Station as the largest tidal power
plant in the world. Tidal stream power plants are a relatively new technology with ample scope for development. Wave
energy is a relatively new concept; the installed capacity aggregated just 5.77 MW in 2013. Both the sectors are likely to
experience significant market growth in terms of installed capacity and investments in the near future.
Currently, more than 200 companies operate in the wave and tidal energy sector. Most of these players are extensively
involved in the business of development of energy converter technology. Both wave and tidal stream technologies have
significant potential of reaping benefits of economies of scale.
Large-scale commercial array deployments of wave and tidal power plants are projected to be followed by massive cost
reductions. Strong development of the offshore wind energy sector in many countries around the world can contribute
significantly to cost reduction potential of wave and tidal energy. The path from prototype testing and project
demonstration to large-scale commercial project construction is a long one. Constant financial and policy support from
local governments is imperative for technology developers for brisk commercialization of their energy converter devices.
Currently, the industry structure is fragmented in nature. It is difficult to ascertain whether the industry would consolidate in
the near future. However, establishment of special purpose project companies and strategic alliances would be imperative
for small technology developers to invest in projects around the world.
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Major developments in wave and tidal stream plants are expected to take place in Europe. On the other hand, South
Korea is estimated to grow the fastest in terms of tidal barrage operations. In terms of installed capacity, the wave and
tidal energy market is projected to reach 3712 MW by 2020, expanding at a CAGR of 34.5% from 2014 to 2020. This
market would be primarily led by addition of large-scale tidal barrage capacity in South Korea. Wave energy development
in Asia Pacific would be concentrated in Australia. The country is likely to add nearly 25 MW of capacity by the end of
2020. Currently, only tidal barrages are capable of generating returns on investments through the sale of electricity. Both
tidal stream and wave power plants are still not capable of generating power at grid parity levels. Commercialization of
technology is the need of the hour for this sector. Otherwise, it would be difficult for project developers to sign long-term
power sale contracts. Reduction in costs would become a necessity as the sector shifts from grant financing to private
equity and debt financing.
Key players in the market include Pelamis Wave Power Ltd., Carnegie Wave Energy Ltd., Marine Current Turbines Ltd.
and Aquamarine Power. The report provides an overview of these companies, followed by their financial revenue,
business strategies and recent developments. The research analyzes and estimates the performance and market of wave
and tidal energy globally. It provides a detailed trend analysis of the market in terms of geography and comprehensive
analysis of companies that deal in wave and tidal energy systems. The report provides a thorough assessment of
strategies followed by different stakeholders by segmenting the wave and tidal energy market as follows:
Wave and tidal power generation market: Type analysis
Wave energy
Tidal energy
Wave and tidal power generation market: Geography analysis
North America
The U.S.
Canada
Europe
The U.K.
Scotland
France
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Others
Asia Pacific
South Korea
Australia
China
Others
Table of Contents
CHAPTER 1 PREFACE
1.1 REPORT DESCRIPTION
1.2 RESEARCH SCOPE
1.3 MARKET SEGMENTATION
1.4 RESEARCH METHODOLOGY
CHAPTER 2 EXECUTIVE SUMMARY
CHAPTER 3 MARKET OVERVIEW
3.1 INTRODUCTION
3.2 VALUE CHAIN ANALYSIS
3.3 MARKET DRIVERS
3.3.1 PREDICTABLE AND CONSTANT SOURCE OF RENEWABLE ENERGY
3.3.2 SCALABILITY WITHIN A SMALL AREA ALLOWING LARGE PROJECT DEVELOPMENT IN PHASES
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3.3.3 GENERATION OF POWER FOR REMOTE LOCATIONS WHERE DRAWING GRID CONNECTIONS ARE NOT
COST EFFECTIVE OR FEASIBLE
3.3.4 STRONG GOVERNMENT POLICY FRAMEWORK AND INCENTIVE SCHEMES
3.4 MARKET RESTRAINTS
3.4.1 HIGH CAPITAL INVESTMENTS AND LACK OF FUNDING CHANNELS
3.4.2 LACK OF COMMERCIAL DEPLOYMENT OF PROJECTS DUE TO LOW TECHNOLOGY MATURITY
3.5 MARKET OPPORTUNITIES
3.5.1 MASSIVE COST REDUCTION OPPORTUNITIES THROUGH TECHNOLOGICAL INNOVATIONS AND
CAPACITY UP-SCALING
3.6 PORTER’S FIVE FORCES ANALYSIS
3.6.1 BARGAINING POWER OF SUPPLIERS
3.6.2 BARGAINING POWER OF BUYERS
3.6.3 THREAT FROM NEW ENTRANTS
3.6.4 DEGREE OF COMPETITION
3.6.5 THREAT FROM SUBSTITUTES
3.7 WAVE AND TIDAL ENERGY: LIFETIME PLANT COST ANALYSIS
3.7.1 WAVE ENERGY GENERATION
3.7.1.1 Global Wave Energy generation cost reduction opportunities, By cost type
3.7.1.2 Global Wave Energy generation lifetime plant cost breakdown and forecast, by cost type, 2013 – 2020,
(Million USD/MW)
3.7.2 TIDAL ENERGY GENERATION
3.7.2.1 Global Tidal Energy generation cost reduction opportunities, By cost type
3.7.2.2 Global Tidal Energy generation lifetime plant cost breakdown and forecast, by cost type, 2013 – 2020,
(Million USD/MW)
3.8 WAVE AND TIDAL ENERGY: GLOBAL REGULATORY LANDSCAPE
3.8.1 U.K & Scotland Wave and Tidal Energy financial incentive schemes
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3.9 MARKET ATTRACTIVENESS ANALYSIS OF THE WAVE AND TIDAL ENERGY MARKET, BY REGION, 2013
3.10 COMPANY MARKET SHARE ANALYSIS
3.10.1 COMPANY MARKET SHARE ANALYSIS : TIDAL ENERGY
3.10.1.1 Tidal Energy, company market share analysis (MW), 2013
3.10.2 COMPANY MARKET SHARE ANALYSIS : WAVE ENERGY
3.10.2.1 Wave Energy, company market share analysis (MW), 2013
CHAPTER 4 WAVE AND TIDAL ENERGY MARKET: TYPE ANALYSIS
4.1 GLOBAL WAVE AND TIDAL ENERGY MARKET: TYPE OVERVIEW
4.1.1 GLOBAL WAVE AND TIDAL ENERGY MARKET, VOLUME SHARE BY TYPE, 2013-2020
4.2 WAVE POWER PLANTS
4.2.1 GLOBAL WAVE POWER PLANT CAPACITY ESTIMATES AND FORECASTS, 2014 - 2020 (MW) (USD
MILLION)
4.3 TIDAL POWER PLANTS
4.3.1 GLOBAL TIDAL POWER PLANT CAPACITY ESTIMATES AND FORECASTS, 2014 - 2020 (MW) (USD
MILLION)
CHAPTER 5 WAVE AND TIDAL ENERGY MARKET: REGIONAL ANALYSIS
5.1 GLOBAL WAVE AND TIDAL ENERGY MARKET: REGIONAL OVERVIEW
5.1.1 GLOBAL TIDAL ENERGY MARKET, VOLUME SHARE BY REGION, 2013 AND 2020 (MW)
5.1.2 GLOBAL WAVE ENERGY MARKET, VOLUME SHARE BY REGION, 2013 AND 2020 (MW)
5.1.3 GLOBAL WAVE AND TIDAL ENERGY MARKET, VOLUME SHARE BY REGION, 2013 AND 2020 (MW)
5.2 EUROPE
5.2.1 EUROPE WAVE ENERGY MARKET ESTIMATES AND FORECAST, 2014 – 2020 (MW) (USD MILLION)
5.2.2 EUROPE TIDAL ENERGY MARKET ESTIMATES AND FORECAST, 2014 – 2020 (MW) (USD MILLION)
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5.2.3 EUROPE WAVE AND TIDAL ENERGY MARKET ESTIMATES AND FORECAST, 2014 – 2020 (MW) (USD
MILLION)
5.2.4 SCOTLAND
5.2.4.1 Scotland wave energy market estimates and forecast, 2014 – 2020 (MW) (USD Million)
5.2.4.2 Scotland tidal energy market estimates and forecast, 2014 – 2020 (MW) (USD Million)
5.2.4.3 Scotland wave and tidal energy market estimates and forecast, 2014 – 2020 (MW) (USD Million)
5.2.5 UNITED KINGDOM (U.K.)
5.2.5.1 U.K. wave energy market estimates and forecast, 2014 – 2020 (MW) (USD Million)
5.2.5.2 U.K. tidal energy market estimates and forecast, 2014 – 2020 (MW) (USD Million)
5.2.5.3 U.K. wave and tidal energy market estimates and forecast, 2014 – 2020 (MW) (USD Million)
5.2.6 FRANCE
5.2.6.1 France tidal energy market estimates and forecast, 2014 – 2020 (MW) (USD Million)
5.2.7 OTHERS
5.2.7.1 Others wave and tidal energy market estimates and forecast, 2014 – 2020 (MW) (USD Million)
5.2.8 PROPOSED WAVE AND TIDAL POWER PROJECTS: EUROPE
5.2.8.1 Proposed Wave projects
5.2.8.2 Proposed Tidal Projects
5.2.9 REGULATORY FRAMEWORK SNAPSHOT: EUROPE
5.3 ASIA PACIFIC
5.3.1 ASIA PACIFIC WAVE ENERGY MARKET ESTIMATES AND FORECAST, 2014 – 2020 (MW) (USD MILLION)
5.3.2 ASIA PACIFIC TIDAL ENERGY MARKET ESTIMATES AND FORECAST, 2014 – 2020 (MW) (USD MILLION)
5.3.3 ASIA PACIFIC WAVE AND TIDAL ENERGY MARKET ESTIMATES AND FORECAST, 2014 – 2020 (MW) (USD
MILLION)
5.3.4 SOUTH KOREA
5.3.4.1 South Korea tidal energy market estimates and forecast, 2014 – 2020 (MW) (USD Million)
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5.3.5 AUSTRALIA
5.3.5.1 Australia wave energy market estimates and forecast, 2014 – 2020 (MW) (USD Million)
5.3.6 CHINA
5.3.6.1 China wave energy market estimates and forecast, 2014 – 2020 (MW) (USD Million)
5.3.6.2 China tidal energy market estimates and forecast, 2014 – 2020 (MW) (USD Million)
5.3.6.3 China wave and tidal energy market estimates and forecast, 2014 – 2020 (MW) (USD Million)
5.3.7 OTHERS
5.3.7.1 Others wave and tidal energy market estimates and forecast, 2014 – 2020 (MW) (USD Million)
5.3.8 PROPOSED WAVE AND TIDAL POWER PROJECTS: ASIA PACIFIC
5.3.8.1 Proposed Wave Projects
5.3.8.2 Proposed Tidal Projects
5.3.9 REGULATORY FRAMEWORK SNAPSHOT: ASIA PACIFIC
5.4 NORTH AMERICA
5.4.1 NORTH AMERICA WAVE ENERGY MARKET ESTIMATES AND FORECAST, 2014 – 2020 (MW) (USD
MILLION)
5.4.2 NORTH AMERICA TIDAL ENERGY MARKET ESTIMATES AND FORECAST, 2014 – 2020 (MW) (USD
MILLION)
5.4.3 NORTH AMERICA WAVE AND TIDAL ENERGY MARKET ESTIMATES AND FORECAST, 2014 – 2020 (MW)
(USD MILLION)
5.4.4 UNITED STATES
5.4.4.1 U.S. wave energy market estimates and forecast, 2014 – 2020 (MW) (USD Million)
5.4.4.2 U.S. tidal energy market estimates and forecast, 2014 – 2020 (MW) (USD Million)
5.4.4.3 U.S. wave and tidal energy market estimates and forecast, 2014 – 2020 (MW) (USD Million)
5.4.5 CANADA
5.4.5.1 Canada wave and tidal energy market estimates and forecast, 2014 – 2020 (MW) (USD Million)
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5.4.6 REGULATORY FRAMEWORK SNAPSHOT: NORTH AMERICA
CHAPTER 6 COMPANY PROFILES
6.1 AQUAMARINE POWER LTD.
6.1.1 COMPANY OVERVIEW
6.1.2 PRODUCT PORTFOLIO
6.1.3 BUSINESS STRATEGY
6.1.4 SWOT ANALYSIS
6.1.5 RECENT DEVELOPMENTS
6.2 CARNEGIE WAVE ENERGY
6.2.1 COMPANY OVERVIEW
6.2.2 PRODUCT PORTFOLIO
6.2.3 FINANCIAL OVERVIEW
6.2.4 BUSINESS STRATEGY
6.2.5 SWOT ANALYSIS
6.2.6 RECENT DEVELOPMENTS
6.3 MARINE CURRENT TURBINES LTD.
6.3.1 COMPANY OVERVIEW
6.3.2 PRODUCT PORTFOLIO
6.3.3 BUSINESS STRATEGY
6.3.4 SWOT ANALYSIS
6.3.5 RECENT DEVELOPMENTS
6.4 OCEAN POWER TECHNOLOGIES INC.
6.4.1 COMPANY OVERVIEW
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6.4.2 PRODUCT PORTFOLIO
6.4.3 FINANCIAL OVERVIEW
6.4.4 BUSINESS STRATEGY
6.4.5 SWOT ANALYSIS
6.4.6 RECENT DEVELOPMENTS
6.5 OCEAN RENEWABLE POWER COMPANY LLC
6.5.1 COMPANY OVERVIEW
6.5.2 PRODUCT PORTFOLIO
6.5.3 BUSINESS STRATEGY
6.5.4 SWOT ANALYSIS
6.5.5 RECENT DEVELOPMENTS
6.6 TENAX ENERGY
6.6.1 COMPANY OVERVIEW
6.6.2 PRODUCT PORTFOLIO
6.6.3 BUSINESS STRATEGY
6.6.4 SWOT ANALYSIS
6.7 AQUAGEN TECHNOLOGIES
6.7.1 COMPANY OVERVIEW
6.7.2 PRODUCT PORTFOLIO
6.7.3 FINANCIAL OVERVIEW
6.7.4 BUSINESS STRATEGY
6.7.5 SWOT ANALYSIS
6.7.6 RECENT DEVELOPMENTS
6.8 ATLANTIS RESOURCES LTD.
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6.8.1 COMPANY OVERVIEW
6.8.2 PRODUCT PORTFOLIO
6.8.3 FINANCIAL OVERVIEW
6.8.4 BUSINESS STRATEGY
6.8.5 SWOT ANALYSIS
6.9 PELAMIS WAVE POWER
6.9.1 COMPANY OVERVIEW
6.9.2 PRODUCT PORTFOLIO
6.9.3 BUSINESS STRATEGY
6.9.4 SWOT ANALYSIS
6.10 S.D.E ENERGY LTD.
6.10.1 COMPANY OVERVIEW
6.10.2 PRODUCT PORTFOLIO
6.10.3 BUSINESS STRATEGY
6.10.4 SWOT ANALYSIS
LIST OF FIGURES
FIG. 1 WAVE AND TIDAL ENERGY: MARKET SEGMENTATION
FIG. 2 GLOBAL WAVE AND TIDAL ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD MILLION)
FIG. 3 VALUE CHAIN ANALYSIS OF WAVE AND TIDAL ENERGY
FIG. 4 FIG: PORTER’S FIVE FORCES ANALYSIS
FIG. 5 WAVE ENERGY GENERATION MARKET, INDIVIDUAL COST BREAKDOWN OF LIFETIME PLANT COST, 2013
FIG. 6 TIDAL ENERGY GENERATION MARKET, LIFETIME PLANT COST BREAKDOWN OF OVERALL
DEVELOPMENT COST, 2013
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FIG. 7 MARKET ATTRACTIVENESS ANALYSIS OF WAVE ENERGY MARKET, BY REGION, 2013
FIG. 8 MARKET ATTRACTIVENESS ANALYSIS OF TIDAL ENERGY MARKET, BY REGION, 2013
FIG. 9 COMPANY MARKET SHARE OF TIDAL ENERGY INDUSTRY (MW), 2013
FIG. 10 COMPANY MARKET SHARE OF WAVE ENERGY INDUSTRY (MW), 2013
FIG. 11 GLOBAL WAVE AND TIDAL ENERGY MARKET, VOLUME SHARE BY TYPE, 2013 - 2020
FIG. 12 GLOBAL WAVE POWER PLANT CAPACITY ESTIMATES AND FORECASTS, 2014 - 2020 (MW) (USD MILLION)
FIG. 13 GLOBAL TIDAL POWER PLANT CAPACITY ESTIMATES AND FORECASTS, 2014 – 2020 (MW) (USD
MILLION)
FIG. 14 GLOBAL TIDAL ENERGY MARKET, VOLUME SHARE BY REGION, 2013 AND 2020 (MW)
FIG. 15 GLOBAL WAVE ENERGY MARKET, VOLUME SHARE BY REGION, 2013 AND 2020 (MW)
FIG. 16 GLOBAL WAVE AND TIDAL ENERGY MARKET, VOLUME SHARE BY REGION, 2013 AND 2020 (MW)
FIG. 17 EUROPE WAVE ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD MILLION)
FIG. 18 EUROPE TIDAL ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD MILLION)
FIG. 19 EUROPE WAVE AND TIDAL ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD MILLION)
FIG. 20 SCOTLAND WAVE ENERGY MARKET CAPACITY AND GENERATION, 2014 – 2020 (MW) (USD MILLION)
FIG. 21 SCOTLAND TIDAL ENERGY MARKET CAPACITY AND GENERATION, 2014 – 2020 (MW) (USD MILLION)
FIG. 22 SCOTLAND WAVE AND TIDAL ENERGY MARKET CAPACITY AND GENERATION, 2014 – 2020 (MW) (USD
MILLION)
FIG. 23 U.K. WAVE ENERGY MARKET CAPACITY AND GENERATION, 2014 – 2020 (MW) (USD MILLION)
FIG. 24 U.K. TIDAL ENERGY MARKET CAPACITY AND GENERATION, 2014 – 2020 (MW) (USD MILLION)
FIG. 25 U.K. WAVE AND TIDAL ENERGY MARKET CAPACITY AND REVENUE, 2014 – 2020 (MW) (USD MILLION)
FIG. 26 FRANCE TIDAL ENERGY MARKET CAPACITY AND REVENUE, 2014 – 2020 (MW) (USD MILLION)
FIG. 27 OTHERS WAVE AND TIDAL ENERGY MARKET CAPACITY AND REVENUE, 2014 – 2020 (MW) (USD MILLION)
FIG. 28 ASIA PACIFIC WAVE ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD MILLION)
FIG. 29 ASIA PACIFIC TIDAL ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD MILLION)
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FIG. 30 ASIA PACIFIC WAVE AND TIDAL ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD
MILLION)
FIG. 31 SOUTH KOREA TIDAL ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD MILLION)
FIG. 32 AUSTRALIA WAVE ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD MILLION)
FIG. 33 CHINA WAVE ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD MILLION)
FIG. 34 CHINA TIDAL ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD MILLION)
FIG. 35 CHINA WAVE AND TIDAL ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD MILLION)
FIG. 36 OTHERS WAVE AND TIDAL ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD MILLION)
FIG. 37 NORTH AMERICA WAVE ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD MILLION)
FIG. 38 NORTH AMERICA TIDAL ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD MILLION)
FIG. 39 NORTH AMERICA WAVE AND TIDAL ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD
MILLION)
FIG. 40 U.S. WAVE ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD MILLION)
FIG. 41 U.S. TIDAL ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD MILLION)
FIG. 42 U.S. WAVE AND TIDAL ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD MILLION)
FIG. 43 U.S. WAVE AND TIDAL ENERGY MARKET VOLUME AND REVENUE, 2014 – 2020 (MW) (USD MILLION)
LIST OF TABLES
TABLE 1 GLOBAL WAVE AND TIDAL ENERGY MARKET: SNAPSHOT
TABLE 2 DRIVERS OF WAVE AND TIDAL ENERGY MARKET: IMPACT ANALYSIS
TABLE 3 RESTRAINTS OF WAVE AND TIDAL ENERGY MARKET: IMPACT ANALYSIS
TABLE 4 GLOBAL WAVE ENERGY GENERATION COST REDUCTION OPPORTUNITIES, BY COST TYPE
TABLE 5 GLOBAL WAVE ENERGY GENERATION LIFETIME PLANT COST BREAKDOWN AND FORECAST, BY COST
TYPE, 2013 - 2020 (MILLION USD/MW)
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TABLE 6 GLOBAL TIDAL ENERGY GENERATION COST REDUCTION OPPORTUNITIES, BY COST TYPE
TABLE 7 GLOBAL TIDAL ENERGY GENERATION LIFETIME PLANT COST BREAKDOWN AND FORECAST, BY COST
TYPE, 2013 - 2020 (MILLION USD/MW)
TABLE 8 U.K & SCOTLAND WAVE AND TIDAL ENERGY FINANCIAL INCENTIVE SCHEMES, BY SCHEME NAME AND
DESCRIPTION
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The global wave and tidal energy market was worth an estimated US$25 million in 2013 and is anticipated to be worth US$10.1 billion in 2020, registering an impressive CAGR of 64.1% during the forecast period. The wave and tidal energy market is also expected to reach a global installed capacity of 3,712 MW by 2020, growing at a 34.5% CAGR from 2014-2020. In-depth research report on Wave and Tidal Energy Market with Full TOC at : http://www.transparencymarketresearch.com/wave-tidal-energy-market.html