According to the new market research report “Wave Energy Market by Technology (OSW, OBC, & Overtopping Converters), Location (Onshore, Nearshore, Offshore), Application (Desalination, Power Generation, and Environmental Protection), and Region – Global Forecast to 2025″ The global Wave Energy Market is projected to reach USD 107 million by 2025 from an estimated market size of USD 44 million in 2020, at a CAGR of 19.3% during the forecast period. The factors driving the growth for Wave energy are Likewise, increasing R&D investments and focus on clean energy generation offer excellent opportunities to this market.
The power generation segment is expected to be the most significant Wave Energy Market, by application, during the forecast period
By application, the Wave Energy Market by application is segmented into desalination, power generation, and environmental protection. The power generation segment is expected to be the largest and fastest-growing market. Multiple countries across the globe are focusing on enhancing their power generation capacity by integrating new and non-conventional renewable technologies, perhaps, giving wave energy converters an excellent opportunity to grow in the future.
Browse in-depth TOC on “Wave Energy Market”
65 – Tables
40 – Figures
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=217091216
The oscillating body converters segment is expected to be the largest Wave Energy Market, by technology, during the forecast period
The oscillating body converters segment is expected to grow at the highest rate during the forecast period. Oscillating body converters absorb the kinetic energy of the wave and further drive a generator for power generation. The main advantage of this type of wave energy converter is its high operational efficiency. In addition, these converters can be used for power generation as well as desalination applications.
Europe is expected to dominate the global Wave Energy Market during the forecast period.
In this report, the Wave Energy Market has been analyzed for four regions, namely, Asia Pacific, North America, Europe, and Rest of the World. Europe is expected to lead the market during the forecast period. The growing demand and electrical energy generation from renewable sources of energy is a major factor that is driving the market for wave energy converters in the future. Also, WECs are predominantly being designed as well as developed in the European region.
Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=217091216
To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Wave Energy Market. These include Eco Wave Power (Israel), Carnegie Clean Energy (Australia), SINN Power (Germany), CorPower (Sweden), Ocean Power Technology (US), and AMOG Consulting (Australia). The leading players are trying to establish themselves in the markets of developed countries and are adopting various strategies to increase their respective market shares.
Browse Related Reports:
Offshore Wind Market by Component (Turbine, Substructure, Electrical Infrastructure, & Others), Location (Shallow Water, Transitional Water, & Deep Water), and Region (North America, Europe, & Asia-Pacific) – Global Trends & Forecasts to 2022
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Sanjay Gupta
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441
Content Source: https://www.marketsandmarkets.com/PressReleases/wave-energy.asp
Company Name: MarketsandMarkets
Contact Person: Mr. Sanjay Gupta
Email: Send Email
Address:630 Dundee Road Suite 430
State: IL 60062
Country: United States