According to a recent research report titled “Marine Energy Market (By Type: Wave energy, Tidal energy, Ocean thermal energy conversion (OTEC), Salinity gradient power (SGP); By Application: Power generation, Desalination, Hydrogen production, Other) – Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2032″ published by Precedence Research, the global marine energy market size is projected to touch around USD 6,226.78 million by 2032 and growing at a CAGR of 21.20% over the forecast period 2023 to 2032. This comprehensive study examines various factors and their impact on the growth of the marine energy market.
Key Takeaways
- Europe contributed more than 45% of revenue share in 2022.
- Asia Pacific is estimated to expand the fastest CAGR between 2023 and 2032.
- By Type, the wave energy segment has held the largest market share of 38% in 2022.
- By Type, the salinity gradient power (SGP) segment is anticipated to grow at a remarkable CAGR of 22.1% between 2023 and 2032.
- By Application, the power generation segment generated over 44% of revenue share in 2022.
- By Application, the others segment is expected to expand at the fastest CAGR over the projected period.
The report primarily focuses on the volume and value of the marine energy market at the global, regional, and company levels. At the global level, the report analyzes historical data and future prospects to present an overview of the overall market size. Regionally, the study emphasizes key regions such as North America, Europe, the Middle East & Africa, Latin America, and others.
Furthermore, the research report provides specific segmentations based on regions (countries), companies, and all market segments. This analysis offers insights into the growth and revenue trends during the historical period of 2017 to 2032, as well as the projected period. By understanding these segments, it becomes possible to identify the significance of different factors that contribute to market growth.
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The research also highlights significant progressions in both organic and inorganic growth strategies within the global marine energy market. Numerous companies are placing emphasis on new product launches, gaining product approvals, and implementing various business expansion tactics. Moreover, the report presents detailed profiles of firms operating in the marine energy market, along with their respective market strategies. Additionally, the study concentrates on prominent industry participants, furnishing details such as company profiles, product offerings, financial updates, and noteworthy advancements.
Marine Energy Market Scope
| Report Coverage | Details |
| Growth Rate from 2023 to 2032 | CAGR of 21.20% |
| Market Size in 2023 | USD 1,103.44 Million |
| Market Size by 2032 | USD 6,226.78 Million |
| Largest Market | Europe |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | By Type and By Application |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
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Major Key Points Covered in Report:
Executive Summary: It includes key trends of the electric vehicle fuel cell market related to products, applications, and other crucial factors. It also provides analysis of the competitive landscape and CAGR and market size of the electric vehicle fuel cell market based on production and revenue.
Production and Consumption by Region: It covers all regional markets to which the research study relates. Prices and key players in addition to production and consumption in each regional market are discussed.
Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the Electric vehicle fuel cell market.
Market Segments: This part of the report discusses product, application and other segments of the electric vehicle fuel cell market based on market share, CAGR, market size, and various other factors.
Research Methodology: This section discusses the research methodology and approach used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.
Market Key Players
The report incorporates company profiles of key players in the market. These profiles encompass vital information such as product portfolio, key strategies, and a comprehensive SWOT analysis for each player. Additionally, the report presents a matrix illustrating the presence of each prominent player, enabling readers to gain actionable insights. This facilitates a thoughtful assessment of the market status and aids in predicting the level of competition in the marine energy market.
Marine Energy Market Players
- Ocean Power Technologies
- Minesto AB
- Atlantis Resources
- Carnegie Clean Energy
- Wello
- CorPower Ocean
- Ocean Renewable Power Company
- Aquamarine Power
- Seabased
- BioPower Systems
- AW-Energy
- Magallanes Renovables
- Orbital Marine Power
- SIMEC Atlantis Energy
- Oscilla Power, Inc.
Market Segmentations
By Type
- Wave energy
- Tidal energy
- Ocean thermal energy conversion (OTEC)
- Salinity gradient power (SGP)
By Application
- Power generation
- Desalination
- Hydrogen production
- Other (e.g., aquaculture, transportation)
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
Table of Contents:
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology (Premium Insights)
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Marine Energy Market
5.1. COVID-19 Landscape: Marine Energy Industry Impact
5.2. COVID 19 – Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Marine Energy Market, By Type
8.1. Marine Energy Market, by Type, 2023-2032
8.1.1. Wave energy
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Tidal energy
8.1.2.1. Market Revenue and Forecast (2020-2032)
8.1.3. Ocean thermal energy conversion (OTEC)
8.1.3.1. Market Revenue and Forecast (2020-2032)
8.1.4. Salinity gradient power (SGP)
8.1.4.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Marine Energy Market, By Application
9.1. Marine Energy Market, by Application, 2023-2032
9.1.1. Power generation
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. Desalination
9.1.2.1. Market Revenue and Forecast (2020-2032)
9.1.3. Hydrogen production
9.1.3.1. Market Revenue and Forecast (2020-2032)
9.1.4. Other (e.g., aquaculture, transportation)
9.1.4.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Marine Energy Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Type (2020-2032)
10.1.2. Market Revenue and Forecast, by Application (2020-2032)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Type (2020-2032)
10.1.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Type (2020-2032)
10.1.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Type (2020-2032)
10.2.2. Market Revenue and Forecast, by Application (2020-2032)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Type (2020-2032)
10.2.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Type (2020-2032)
10.2.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.2.5. France
10.2.5.1. Market Revenue and Volume Forecast, by Type (2020-2032)
10.2.5.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Type (2020-2032)
10.2.6.2. Market Revenue and Forecast, by Application (2020-2032)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Type (2020-2032)
10.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Type (2020-2032)
10.3.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Type (2020-2032)
10.3.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Type (2020-2032)
10.3.5.2. Market Revenue and Forecast, by Application (2020-2032)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Type (2020-2032)
10.3.6.2. Market Revenue and Forecast, by Application (2020-2032)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Type (2020-2032)
10.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Type (2020-2032)
10.4.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Type (2020-2032)
10.4.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Type (2020-2032)
10.4.5.2. Market Revenue and Forecast, by Application (2020-2032)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Type (2020-2032)
10.4.6.2. Market Revenue and Forecast, by Application (2020-2032)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Type (2020-2032)
10.5.2. Market Revenue and Forecast, by Application (2020-2032)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Type (2020-2032)
10.5.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Type (2020-2032)
10.5.4.2. Market Revenue and Forecast, by Application (2020-2032)
Chapter 11. Company Profiles
11.1. Ocean Power Technologies
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Minesto AB
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Atlantis Resources
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Carnegie Clean Energy
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Wello
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. CorPower Ocean
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Ocean Renewable Power Company
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Aquamarine Power
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Seabased
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. BioPower Systems
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
Why should you invest in this report?
This report presents a compelling investment opportunity for those interested in the global marine energy market. It serves as an extensive and informative guide, offering clear insights into this niche market. By delving into the report, you will gain a comprehensive understanding of the various major application areas for marine energy. Furthermore, it provides crucial information about the key regions worldwide that are expected to experience substantial growth within the forecast period of 2023-2030. Armed with this knowledge, you can strategically plan your market entry approaches.
Moreover, this report offers a deep analysis of the competitive landscape, equipping you with valuable insights into the level of competition prevalent in this highly competitive market. If you are already an established player, it will enable you to assess the strategies employed by your competitors, allowing you to stay ahead as market leaders. For newcomers entering this market, the extensive data provided in this report is invaluable, providing a solid foundation for informed decision-making.
Some of the key questions answered in this report:
- What is the size of the overall Marine energy market and its segments?
- What are the key segments and sub-segments in the market?
- What are the key drivers, restraints, opportunities and challenges of the Marine energy market and how they are expected to impact the market?
- What are the attractive investment opportunities within the Marine energy market?
- What is the Marine energy market size at the regional and country-level?
- Who are the key market players and their key competitors?
- What are the strategies for growth adopted by the key players in Marine energy market?
- What are the recent trends in Marine energy market? (M&A, partnerships, new product developments, expansions)?
- What are the challenges to the Marine energy market growth?
- What are the key market trends impacting the growth of Marine energy market?
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