Wave and Tidal Energy Market SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
Wave and Tidal Energy Market, By Type (Wave Energy, Tidal Energy), By Technology (Tidal Stream Generator, Oscillating Water Columns, Tidal Turbines, T....
Wave and Tidal Energy Market Size
Market Size in USD
CAGR9.1%
| Study Period | 2024 - 2031 |
| Base Year of Estimation | 2023 |
| CAGR | 9.1% |
| Market Concentration | High |
| Major Players | SIMEC Atlantis Energy, Ocean Power Technologies, Orbital Marine Power, Verdant Power, Carnegie Clean Energy |
*Disclaimer: Major players are listed in no particular order.
*Source: Coherent Market Insights
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Wave and Tidal Energy Market Analysis
The wave and tidal energy market is estimated to be valued at USD 770.05 Bn in 2024 and is expected to reach USD 1,416.58 Bn by 2031, growing at a compound annual growth rate (CAGR) of 9.1% from 2024 to 2031. The steady increase in global energy demand along with the focus on develop renewable sources of energy have been the major drivers of growth in the wave and tidal energy market.