表紙:波エネルギー変換器(WEC)の世界市場の評価:技術別、場所別、用途別、地域別、機会、予測(2017年~2031年)
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波エネルギー変換器(WEC)の世界市場の評価:技術別、場所別、用途別、地域別、機会、予測(2017年~2031年)

Wave Energy Converter Market Assessment, By Technology, By Location, By Application, By Region, Opportunities and Forecast, 2017-2031F

出版日: | 発行: Market Xcel - Markets and Data | ページ情報: 英文 209 Pages | 納期: 3~5営業日

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価格
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本日の銀行送金レート: 1USD=156.76円
波エネルギー変換器(WEC)の世界市場の評価:技術別、場所別、用途別、地域別、機会、予測(2017年~2031年)
出版日: 2024年01月03日
発行: Market Xcel - Markets and Data
ページ情報: 英文 209 Pages
納期: 3~5営業日
  • 全表示
  • 概要
  • 図表
  • 目次
概要

世界の波エネルギー変換器(WEC)の市場規模は、2023年に235億4,000万米ドル、2031年に344億1,000万米ドルに達し、2024年~2031年の予測期間にCAGRで4.86%の成長が見込まれています。

市場は、急速な技術の進歩、波エネルギー資源の十分な利用可能性、沿岸地域からの電力需要の増加、よりクリーンなエネルギー発電への投資の増加によって牽引されています。

急速な技術の進歩が市場の成長を加速させています。研究開発投資の増加が市場を牽引し、波エネルギー発電のより効果的でコスト効率の高いプロセスにつながっています。さらに、持続可能なエネルギー技術の採用が進み、波浪を利用した発電への関心が高まっていることも、市場の成長に寄与しています。

振動水柱技術が市場成長を促進

振動水柱はこれまでの期間に市場成長を大きく促進してきました。その成長の要因は、メンテナンスの手間の少なさ、材料の耐用年数の向上、海岸へのアクセスのしやすさなどです。さらに、この技術はその他のものよりも複雑でないため、適応しやすく、市場成長を促進しています。

海水淡水化プロセスの利用の増加が市場を加速

海水淡水化への波エネルギー変換器(WEC)の利用など、持続可能なエネルギー技術の採用の増加が市場の成長を促進しています。淡水需要の高まりは、波の高いエネルギー密度とともに、波エネルギーを海水淡水化に利用する機会をもたらし、それによって持続可能な慣行を促進しながら世界の水危機に対処しています。技術の進歩と再生可能資源への注目の高まりは、市場の拡大をさらに加速すると予測されます。

オフショア風力プロジェクトへの投資が大きな機会をもたらす

オフショアセグメントが波エネルギー変換器(WEC)市場の成長を促進すると予測されており、オフショア波エネルギー変換器(WEC)は波エネルギーの量を利用します。この成長は、急速な技術の進歩、研究開発投資の増加、波エネルギーの発電への広大な利用、豊富な波エネルギー資源の普及などの要因によるものです。

アジア太平洋がマーケットリーダーとして台頭

アジア太平洋は、技術の著しい進歩、政府の取り組み、豊富な波エネルギーの利用可能性により、波エネルギー変換器(WEC)市場でもっとも急成長している地域として台頭しました。中国、日本、インド、オーストラリアなどの国々が、研究開発とよりクリーンなエネルギーの生成に多額の投資を行っていることから、この地域は将来的に市場を独占すると予測されています。

政府の取り組み

市場の成長には政府の取り組みが不可欠です。固定価格買取制度、電力購入契約、研究開発助成金などの政策は、投資家に経済的インセンティブを与え、波エネルギーの技術の進歩を加速させます。規制枠組みや許可プロセスにおける政府の支援は、WECプロジェクトを可能にする環境を作り出します。さらに、主要国は研究開発とよりクリーンなエネルギーの生成に多額の投資を行っており、これがWEC市場の成長を後押しすると予測されています。

COVID-19の影響

COVID-19パンデミックは、波エネルギー変換器(WEC)市場に大きな影響を与え、COVID-19前後の状況に影響を与えました。COVID-19前の市場は、クリーンで再生可能なエネルギー源の必要性などの要因によって成長を示しました。しかし、パンデミックはサプライチェーンの混乱、プロジェクトの遅延、投資の減少につながり、その結果、市場成長は鈍化しました。COVID-19後は、クリーンエネルギーと再生可能エネルギー源の需要が引き続き増加することから、市場の回復と成長が予測されます。さらに、パンデミックは、エネルギー源を多様化し化石燃料への依存を減らすことの重要性を浮き彫りにしており、波エネルギー変換器(WEC)は将来に向けてより魅力的な選択肢となっています。

当レポートでは、世界の波エネルギー変換器(WEC)市場について調査分析し、市場規模と予測、市場力学、主要企業の情勢と見通しなどを提供しています。

目次

第1章 調査手法

第2章 プロジェクトの範囲と定義

第3章 世界の波エネルギー変換器(WEC)市場に対するCOVID-19の影響

第4章 エグゼクティブサマリー

第5章 顧客の声

  • 製品と市場のインテリジェンス
  • 購入決定において考慮される要素

第6章 世界の波エネルギー変換器(WEC)市場の見通し(2017年~2031年)

  • 市場規模と予測
    • 金額
  • 技術別
    • 振動水柱
    • 振動体変換器
    • 越波装置
    • その他
  • 場所別
    • オフショア
    • オンショア
    • ニアショア
  • 用途別
    • 発電
    • 水の淡水化
    • 水の汲み上げ
    • その他
  • 地域別
    • 北米
    • アジア太平洋
    • 欧州
    • 南米
    • 中東・アフリカ
  • 市場シェア:企業別(2023年)

第7章 世界の波エネルギー変換器(WEC)市場の見通し:地域別(2017年~2031年)

  • 北米
    • 市場規模と予測
    • 技術別
    • 場所別
    • 用途別
    • 米国
    • カナダ
    • メキシコ
  • 欧州
    • ドイツ
    • フランス
    • イタリア
    • 英国
    • ロシア
    • オランダ
    • スペイン
    • トルコ
    • ポーランド
  • 南米
    • ブラジル
    • アルゼンチン
  • アジア太平洋
    • インド
    • 中国
    • 日本
    • オーストラリア
    • ベトナム
    • 韓国
    • インドネシア
    • フィリピン
  • 中東・アフリカ
    • サウジアラビア
    • アラブ首長国連邦
    • 南アフリカ

第8章 市場マッピング(2023年)

  • 技術別
  • 場所別
  • 用途別
  • 地域別

第9章 マクロ環境と産業構造

  • 需給分析
  • 輸出入の分析
  • バリューチェーン分析
  • PESTEL分析
  • ポーターのファイブフォース分析

第10章 市場力学

  • 成長促進要因
  • 成長抑制要因(課題、抑制要因)

第11章 主要企業情勢

  • マーケットリーダー上位5社の競合マトリクス
  • マーケットリーダー上位5社の市場収益分析(2023年)
  • 合併と買収/合弁事業(該当する場合)
  • SWOT分析(市場参入企業5社向け)
  • 特許分析(該当する場合)

第12章 価格分析

第13章 ケーススタディ

第14章 主要企業の見通し

  • Ocean Power Technologies, Inc.
  • Eco Wave Power Global AB
  • Carnegie Clean Energy Limited
  • Sinn Power GmbH
  • Nemos GmbH
  • Wave Swell Energy Limited
  • AWS Ocean Energy Limited
  • CorPower Ocean
  • Hann-Ocean Energy Pte. Ltd.
  • Aquanet Power

第15章 戦略的推奨事項

第16章 当社について、免責事項

図表

List of Tables

  • Table 1. Pricing Analysis of Products from Key Players
  • Table 2. Competition Matrix of Top 5 Market Leaders
  • Table 3. Mergers & Acquisitions/ Joint Ventures (If Applicable)
  • Table 4. About Us - Regions and Countries Where We Have Executed Client Projects

List of Figures

  • Figure 1. Global Wave Energy Converter Market, By Value, In USD Billion, 2017-2031F
  • Figure 2. Global Wave Energy Converter Market Share (%), By Technology, 2017-2031F
  • Figure 3. Global Wave Energy Converter Market Share (%), By Location, 2017-2031F
  • Figure 4. Global Wave Energy Converter Market Share (%), By Application, 2017-2031F
  • Figure 5. Global Wave Energy Converter Market Share (%), By Region, 2017-2031F
  • Figure 6. North America Wave Energy Converter Market, By Value, In USD Billion, 2017-2031F
  • Figure 7. North America Wave Energy Converter Market Share (%), By Technology, 2017-2031F
  • Figure 8. North America Wave Energy Converter Market Share (%), By Location, 2017-2031F
  • Figure 9. North America Wave Energy Converter Market Share (%), By Application, 2017-2031F
  • Figure 10. North America Wave Energy Converter Market Share (%), By Country, 2017-2031F
  • Figure 11. United States Wave Energy Converter Market, By Value, In USD Billion, 2017-2031F
  • Figure 12. United States Wave Energy Converter Market Share (%), By Technology, 2017-2031F
  • Figure 13. United States Wave Energy Converter Market Share (%), By Location, 2017-2031F
  • Figure 14. United States Wave Energy Converter Market Share (%), By Application, 2017-2031F
  • Figure 15. Canada Wave Energy Converter Market, By Value, In USD Billion, 2017-2031F
  • Figure 16. Canada Wave Energy Converter Market Share (%), By Technology, 2017-2031F
  • Figure 17. Canada Wave Energy Converter Market Share (%), By Location, 2017-2031F
  • Figure 18. Canada Wave Energy Converter Market Share (%), By Application, 2017-2031F
  • Figure 19. Mexico Wave Energy Converter Market, By Value, In USD Billion, 2017-2031F
  • Figure 20. Mexico Wave Energy Converter Market Share (%), By Technology, 2017-2031F
  • Figure 21. Mexico Wave Energy Converter Market Share (%), By Location, 2017-2031F
  • Figure 22. Mexico Wave Energy Converter Market Share (%), By Application, 2017-2031F
  • Figure 23. Europe Wave Energy Converter Market, By Value, In USD Billion, 2017-2031F
  • Figure 24. Europe Wave Energy Converter Market Share (%), By Technology, 2017-2031F
  • Figure 25. Europe Wave Energy Converter Market Share (%), By Location, 2017-2031F
  • Figure 26. Europe Wave Energy Converter Market Share (%), By Application, 2017-2031F
  • Figure 27. Europe Wave Energy Converter Market Share (%), By Country, 2017-2031F
  • Figure 28. Germany Wave Energy Converter Market, By Value, In USD Billion, 2017-2031F
  • Figure 29. Germany Wave Energy Converter Market Share (%), By Technology, 2017-2031F
  • Figure 30. Germany Wave Energy Converter Market Share (%), By Location, 2017-2031F
  • Figure 31. Germany Wave Energy Converter Market Share (%), By Application, 2017-2031F
  • Figure 32. France Wave Energy Converter Market, By Value, In USD Billion, 2017-2031F
  • Figure 33. France Wave Energy Converter Market Share (%), By Technology, 2017-2031F
  • Figure 34. France Wave Energy Converter Market Share (%), By Location, 2017-2031F
  • Figure 35. France Wave Energy Converter Market Share (%), By Application, 2017-2031F
  • Figure 36. Italy Wave Energy Converter Market, By Value, In USD Billion, 2017-2031F
  • Figure 37. Italy Wave Energy Converter Market Share (%), By Technology, 2017-2031F
  • Figure 38. Italy Wave Energy Converter Market Share (%), By Location, 2017-2031F
  • Figure 39. Italy Wave Energy Converter Market Share (%), By Application, 2017-2031F
  • Figure 40. United Kingdom Wave Energy Converter Market, By Value, In USD Billion, 2017-2031F
  • Figure 41. United Kingdom Wave Energy Converter Market Share (%), By Technology, 2017-2031F
  • Figure 42. United Kingdom Wave Energy Converter Market Share (%), By Location, 2017-2031F
  • Figure 43. United Kingdom Wave Energy Converter Market Share (%), By Application, 2017-2031F
  • Figure 44. Russia Wave Energy Converter Market, By Value, In USD Billion, 2017-2031F
  • Figure 45. Russia Wave Energy Converter Market Share (%), By Technology, 2017-2031F
  • Figure 46. Russia Wave Energy Converter Market Share (%), By Location, 2017-2031F
  • Figure 47. Russia Wave Energy Converter Market Share (%), By Application, 2017-2031F
  • Figure 48. Netherlands Wave Energy Converter Market, By Value, In USD Billion, 2017-2031F
  • Figure 49. Netherlands Wave Energy Converter Market Share (%), By Technology, 2017-2031F
  • Figure 50. Netherlands Wave Energy Converter Market Share (%), By Location, 2017-2031F
  • Figure 51. Netherlands Wave Energy Converter Market Share (%), By Application, 2017-2031F
  • Figure 52. Spain Wave Energy Converter Market, By Value, In USD Billion, 2017-2031F
  • Figure 53. Spain Wave Energy Converter Market Share (%), By Technology, 2017-2031F
  • Figure 54. Spain Wave Energy Converter Market Share (%), By Location, 2017-2031F
  • Figure 55. Spain Wave Energy Converter Market Share (%), By Application, 2017-2031F
  • Figure 56. Turkey Wave Energy Converter Market, By Value, In USD Billion, 2017-2031F
  • Figure 57. Turkey Wave Energy Converter Market Share (%), By Technology, 2017-2031F
  • Figure 58. Turkey Wave Energy Converter Market Share (%), By Location, 2017-2031F
  • Figure 59. Turkey Wave Energy Converter Market Share (%), By Application, 2017-2031F
  • Figure 60. Poland Wave Energy Converter Market, By Value, In USD Billion, 2017-2031F
  • Figure 61. Poland Wave Energy Converter Market Share (%), By Technology, 2017-2031F
  • Figure 62. Poland Wave Energy Converter Market Share (%), By Location, 2017-2031F
  • Figure 63. Poland Wave Energy Converter Market Share (%), By Application, 2017-2031F
  • Figure 64. South America Wave Energy Converter Market, By Value, In USD Billion, 2017-2031F
  • Figure 65. South America Wave Energy Converter Market Share (%), By Technology, 2017-2031F
  • Figure 66. South America Wave Energy Converter Market Share (%), By Location, 2017-2031F
  • Figure 67. South America Wave Energy Converter Market Share (%), By Application, 2017-2031F
  • Figure 68. South America Wave Energy Converter Market Share (%), By Country, 2017-2031F
  • Figure 69. Brazil Wave Energy Converter Market, By Value, In USD Billion, 2017-2031F
  • Figure 70. Brazil Wave Energy Converter Market Share (%), By Technology, 2017-2031F
  • Figure 71. Brazil Wave Energy Converter Market Share (%), By Location, 2017-2031F
  • Figure 72. Brazil Wave Energy Converter Market Share (%), By Application, 2017-2031F
  • Figure 73. Argentina Wave Energy Converter Market, By Value, In USD Billion, 2017-2031F
  • Figure 74. Argentina Wave Energy Converter Market Share (%), By Technology, 2017-2031F
  • Figure 75. Argentina Wave Energy Converter Market Share (%), By Location, 2017-2031F
  • Figure 76. Argentina Wave Energy Converter Market Share (%), By Application, 2017-2031F
  • Figure 77. Asia-Pacific Wave Energy Converter Market, By Value, In USD Billion, 2017-2031F
  • Figure 78. Asia-Pacific Wave Energy Converter Market Share (%), By Technology, 2017-2031F
  • Figure 79. Asia-Pacific Wave Energy Converter Market Share (%), By Location, 2017-2031F
  • Figure 80. Asia-Pacific Wave Energy Converter Market Share (%), By Application, 2017-2031F
  • Figure 81. Asia-Pacific Wave Energy Converter Market Share (%), By End-use Industry, 2017-2031F
  • Figure 82. Asia-Pacific Wave Energy Converter Market Share (%), By Country, 2017-2031F
  • Figure 83. India Wave Energy Converter Market, By Value, In USD Billion, 2017-2031F
  • Figure 84. India Wave Energy Converter Market Share (%), By Technology, 2017-2031F
  • Figure 85. India Wave Energy Converter Market Share (%), By Location, 2017-2031F
  • Figure 86. India Wave Energy Converter Market Share (%), By Application, 2017-2031F
  • Figure 87. China Wave Energy Converter Market, By Value, In USD Billion, 2017-2031F
  • Figure 88. China Wave Energy Converter Market Share (%), By Technology, 2017-2031F
  • Figure 89. China Wave Energy Converter Market Share (%), By Location, 2017-2031F
  • Figure 90. China Wave Energy Converter Market Share (%), By Application, 2017-2031F
  • Figure 91. Japan Wave Energy Converter Market, By Value, In USD Billion, 2017-2031F
  • Figure 92. Japan Wave Energy Converter Market Share (%), By Technology, 2017-2031F
  • Figure 93. Japan Wave Energy Converter Market Share (%), By Location, 2017-2031F
  • Figure 94. Japan Wave Energy Converter Market Share (%), By Application, 2017-2031F
  • Figure 95. Australia Wave Energy Converter Market, By Value, In USD Billion, 2017-2031F
  • Figure 96. Australia Wave Energy Converter Market Share (%), By Technology, 2017-2031F
  • Figure 97. Australia Wave Energy Converter Market Share (%), By Location, 2017-2031F
  • Figure 98. Australia Wave Energy Converter Market Share (%), By Application, 2017-2031F
  • Figure 99. Vietnam Wave Energy Converter Market, By Value, In USD Billion, 2017-2031F
  • Figure 100. Vietnam Wave Energy Converter Market Share (%), By Technology, 2017-2031F
  • Figure 101. Vietnam Wave Energy Converter Market Share (%), By Location, 2017-2031F
  • Figure 102. Vietnam Wave Energy Converter Market Share (%), By Application, 2017-2031F
  • Figure 103. South Korea Wave Energy Converter Market, By Value, In USD Billion, 2017-2031F
  • Figure 104. South Korea Wave Energy Converter Market Share (%), By Technology, 2017-2031F
  • Figure 105. South Korea Wave Energy Converter Market Share (%), By Location, 2017-2031F
  • Figure 106. South Korea Wave Energy Converter Market Share (%), By Application, 2017-2031F
  • Figure 107. Indonesia Wave Energy Converter Market, By Value, In USD Billion, 2017-2031F
  • Figure 108. Indonesia Wave Energy Converter Market Share (%), By Technology, 2017-2031F
  • Figure 109. Indonesia Wave Energy Converter Market Share (%), By Location, 2017-2031F
  • Figure 110. Indonesia Wave Energy Converter Market Share (%), By Application, 2017-2031F
  • Figure 111. Philippines Wave Energy Converter Market, By Value, In USD Billion, 2017-2031F
  • Figure 112. Philippines Wave Energy Converter Market Share (%), By Technology, 2017-2031F
  • Figure 113. Philippines Wave Energy Converter Market Share (%), By Location, 2017-2031F
  • Figure 114. Philippines Wave Energy Converter Market Share (%), By Application, 2017-2031F
  • Figure 115. Middle East & Africa Wave Energy Converter Market, By Value, In USD Billion, 2017-2031F
  • Figure 116. Middle East & Africa Wave Energy Converter Market Share (%), By Technology, 2017-2031F
  • Figure 117. Middle East & Africa Wave Energy Converter Market Share (%), By Location, 2017-2031F
  • Figure 118. Middle East & Africa Wave Energy Converter Market Share (%), By Application, 2017-2031F
  • Figure 119. Middle East & Africa Wave Energy Converter Market Share (%), By Country, 2017-2031F
  • Figure 120. Saudi Arabia Wave Energy Converter Market, By Value, In USD Billion, 2017-2031F
  • Figure 121. Saudi Arabia Wave Energy Converter Market Share (%), By Technology, 2017-2031F
  • Figure 122. Saudi Arabia Wave Energy Converter Market Share (%), By Location, 2017-2031F
  • Figure 123. Saudi Arabia Wave Energy Converter Market Share (%), By Application, 2017-2031F
  • Figure 124. UAE Wave Energy Converter Market, By Value, In USD Billion, 2017-2031F
  • Figure 125. UAE Wave Energy Converter Market Share (%), By Technology, 2017-2031F
  • Figure 126. UAE Wave Energy Converter Market Share (%), By Location, 2017-2031F
  • Figure 127. UAE Wave Energy Converter Market Share (%), By Application, 2017-2031F
  • Figure 128. South Africa Wave Energy Converter Market, By Value, In USD Billion, 2017-2031F
  • Figure 129. South Africa Wave Energy Converter Market Share (%), By Technology, 2017-2031F
  • Figure 130. South Africa Wave Energy Converter Market Share (%), By Location, 2017-2031F
  • Figure 131. South Africa Wave Energy Converter Market Share (%), By Application, 2017-2031F
  • Figure 132. By Technology Map-Market Size (USD Billion) & Growth Rate (%), 2023
  • Figure 133. By Location Map-Market Size (USD Billion) & Growth Rate (%), 2023
  • Figure 134. By Application Map-Market Size (USD Billion) & Growth Rate (%), 2023
  • Figure 135. By Region Map-Market Size (USD Billion) & Growth Rate (%), 2023
目次
Product Code: MX10799

Wave energy converter market size was valued at USD 23.54 billion in 2023, expected to reach USD 34.41 billion in 2031, with a CAGR of 4.86% for the forecasted period between 2024 and 2031.

Wave Energy Converters offer various benefits including energy diversification, environmental advantages, and resilience. WECs provide a sustainable and clean energy source, contributing to the global transition towards a low-carbon economy. The market is driven by rapid technological advancements, ample availability of wave energy resources, growing power demand from coastal communities, and increasing investments in cleaner energy generation.

Rapid technological advancements are amplifying the growth of the WEC market. Increasing research and development investments drive the market, leading to more effective and cost-efficient processes for wave energy generation. Moreover, the growing adoption of sustainable energy technologies and the rising interest in using ocean waves to generate electricity contribute to the market's growth.

For example, in November 2023, the European wave energy initiative emphasized the value of brand innovation. The USD 21.13 million Wave Energy Demonstration at Utility Scale to Enable Arrays (WEDUSEA) project, co-funded by Horizon Europe and Innovate UK, proved to be a catalyst for the commercialization of wave energy in Europe and throughout the world. Moreover, WEDUSEA features 14 pan-European partners, led by Irish company OceanEnergy.

Oscillating Water Columns Technology is Fostering the Market Growth

The oscillating water columns have fostered market growth extensively throughout the previous timeframe. Factors contributing to its growth include low maintenance, enhanced material lifetime, and easy access to the shores. Moreover, the technology is less complicated than others and hence is easily adaptable, proliferating the market growth.

For example, in March 2023, IDOM Inc. of Bilbao, Spain, improvised their wave energy converter device, which harnesses wave energy via an oscillating water column. The water drives air through a turbine as it flows in and out of the device's open chamber to generate electrical energy. The IDOM Inc. team will create a more cost-effective version of their invention by inculcating improved controls which will allow operators to operate the device from a distance, as well as new structural and turbine designs that would boost the device's energy production.

Rise in Usage of Water Desalination Process to Accelerate the Market

The increasing adoption of sustainable energy technologies, including the usage of wave energy converters for seawater desalination, is driving the growth of the market. The rising demand for fresh water, coupled with the high energy density of waves, presents an opportunity to harness wave energy for desalination, thereby addressing the global water crisis while promoting sustainable practices. Technological advancements and the growing focus on renewable resources are expected to further accelerate the market's expansion.

For example, in October 2023, Oneka Technologies secured USD 9.19 million in series A funding to complete the development of its floating desalination solutions. Oneka Technologies' sustainable desalination units convert seawater to fresh water using the renewable energy of ocean waves. In a challenging fundraising landscape for start-ups, the company stated that the funding round stands as a testament to the surging investor's interest in unique and credible climate tech solutions.

Investments Towards Offshore Wind Projects Are Leading to Substantial Opportunities

The offshore segment is expected to drive the growth of the Wave Energy Converter (WEC) Market, with offshore wave energy converters harnessing the amount of wave energy. The growth is attributed to factors such as rapid technological advancements, increasing research and development investments, the extensive uptake of wave energy for power generation, and the prevalence of ample wave energy resources.

In November 2023, the UK government has increased the maximum price for offshore wind projects in its flagship renewables scheme, the Contracts for Difference (CfD), to further cement the country as a world leader in clean energy. The maximum strike price for offshore wind projects has been raised by 66% to USD 78.70/MWh, while for floating offshore wind projects, it has been increased by 52% to USD 189.75/MWh. These higher prices aim to attract more investment and boost the UK's offshore wind capacity, which is currently around 14 GW and plans to reach 50 GW by 2030.

Asia-Pacific Emerged as Market Leader

Asia-Pacific has emerged as the fastest-growing region in the wave energy converter market due to significant advancements in technology, government initiatives, and abundant availability of wave energy. The region is expected to dominate the market in the future, with countries such as China, Japan, India, and Australia making significant investments in research and development and cleaner energy generation.

For example, in December 2022, IIT Madras researchers created the "Ocean Wave Energy Converter", which harvests energy from sea waves and successfully completed trials in the second week of November 2022. The device was placed at a depth of 20 meters six kilometers off the coast of Tuticorin, Tamil Nadu. In the next three years, this device hopes to create 1 MW of power from ocean waves.

Government Initiatives

Government initiatives are essential for the growth of the market. Policies such as feed-in tariffs, power purchase agreements, and research and development grants provide financial incentives to investors and accelerate technological advancements in wave energy. Government support in regulatory frameworks and permitting processes creates an enabling environment for WEC projects. Moreover, major nations are making significant investments in research and development and cleaner energy generation, which is expected to boost the WEC market growth.

For example, in January 2022, the United States Department of Energy (DOE) allocated USD 25 million to support wave energy research, development, and demonstration of technologies that harness wave power to create electricity. The funding will support eight projects that will make up the first round of open-water testing at the PacWave South test site off the Oregon coast. Moreover, this funding will help the wave energy technologies to accelerate their commercial viability and deploy them at scale to help decarbonize the grid and reach President Biden's goal of net-zero carbon emissions by 2050.

Impact of COVID-19

The COVID-19 pandemic significantly impacted the wave energy converter market, affecting both pre and post-COVID situations. Pre-COVID, the market experienced growth driven by factors such as the need for clean and renewable energy sources. However, the pandemic led to supply chain disruptions, project delays, and reduced investments, resulting in a slowdown in market growth. In the post-COVID period, the market is expected to recover and grow, as the demand for clean energy and renewable energy sources continue to increase. Moreover, the pandemic has highlighted the importance of diversifying energy sources and reducing the dependence on fossil fuels, thereby making wave energy converters a more attractive option for the future.

Key Players Landscape and Outlook

Major corporations are making significant investments in water desalination, power generation, and other areas, leading to rapid advancements in the wave energy converter market. Moreover, these companies are indulging with various collaborations to develop highly advanced technologies for surge in their respective revenues.

In December 2023, CorPower Ocean created a unique anchored Wave electricity Converter (WEC) that uses ocean waves to generate electricity. A gearbox converts wave motion into rotational motion, which is then transformed into power via generators in the buoy. TotalEnergies, a French multi-energy company, joined CorPower Ocean's Pilot Access Programme to study this technology as one of the possibilities for decarbonization. TotalEnergies will benefit from the Pilot Access Program by gaining in-depth knowledge of CorPower Ocean's wave technology and its operation via the HiWave-5 pilot at the Agucadoura location in northern Portugal.

Table of Contents

1. Research Methodology

2. Project Scope & Definitions

3. Impact of COVID-19 on Global Wave Energy Converter Market

4. Executive Summary

5. Voice of Customer

  • 5.1. Product and Market Intelligence
  • 5.2. Factors Considered in Purchase Decisions
    • 5.2.1. Technology
    • 5.2.2. Integration
    • 5.2.3. Energy Efficiency
    • 5.2.4. Overall Expenses
    • 5.2.5. Facility Requirement
    • 5.2.6. Scalability and Adaptability
    • 5.2.7. Long-Term Viability

6. Global Wave Energy Converter Market Outlook, 2017-2031F

  • 6.1. Market Size & Forecast
    • 6.1.1. By Value
  • 6.2. By Technology
    • 6.2.1. Oscillating Water Columns
    • 6.2.2. Oscillating Body Converters
    • 6.2.3. Overtopping Devices
    • 6.2.4. Others
  • 6.3. By Location
    • 6.3.1. Offshore
    • 6.3.2. Onshore
    • 6.3.3. Nearshore
  • 6.4. By Application
    • 6.4.1. Power Generation
    • 6.4.2. Water Desalination
    • 6.4.3. Pumping of Water
    • 6.4.4. Others
  • 6.5. By Region
    • 6.5.1. North America
    • 6.5.2. Asia-Pacific
    • 6.5.3. Europe
    • 6.5.4. South America
    • 6.5.5. Middle East and Africa
  • 6.6. By Company Market Share (%), 2023

7. Global Wave Energy Converter Market Outlook, By Region, 2017-2031F

  • 7.1. North America*
    • 7.1.1. Market Size & Forecast
      • 7.1.1.1. By Value
    • 7.1.2. By Technology
      • 7.1.2.1. Oscillating Water Columns
      • 7.1.2.2. Oscillating Body Converters
      • 7.1.2.3. Overtopping Devices
      • 7.1.2.4. Others
    • 7.1.3. By Location
      • 7.1.3.1. Offshore
      • 7.1.3.2. Onshore
      • 7.1.3.3. Nearshore
    • 7.1.4. By Application
      • 7.1.4.1. Power Generation
      • 7.1.4.2. Water Desalination
      • 7.1.4.3. Pumping of Water
      • 7.1.4.4. Others
    • 7.1.5. United States*
      • 7.1.5.1. Market Size & Forecast
      • 7.1.5.1.1. By Value
      • 7.1.5.2. By Technology
      • 7.1.5.2.1. Oscillating Water Columns
      • 7.1.5.2.2. Oscillating Body Converters
      • 7.1.5.2.3. Overtopping Devices
      • 7.1.5.2.4. Others
      • 7.1.5.3. By Location
      • 7.1.5.3.1. Offshore
      • 7.1.5.3.2. Onshore
      • 7.1.5.3.3. Nearshore
      • 7.1.5.4. By Application
      • 7.1.5.4.1. Power Generation
      • 7.1.5.4.2. Water Desalination
      • 7.1.5.4.3. Pumping of Water
      • 7.1.5.4.4. Others
    • 7.1.6. Canada
    • 7.1.7. Mexico

All segments will be provided for all regions and countries covered

  • 7.2. Europe
    • 7.2.1. Germany
    • 7.2.2. France
    • 7.2.3. Italy
    • 7.2.4. United Kingdom
    • 7.2.5. Russia
    • 7.2.6. Netherlands
    • 7.2.7. Spain
    • 7.2.8. Turkey
    • 7.2.9. Poland
  • 7.3. South America
    • 7.3.1. Brazil
    • 7.3.2. Argentina
  • 7.4. Asia-Pacific
    • 7.4.1. India
    • 7.4.2. China
    • 7.4.3. Japan
    • 7.4.4. Australia
    • 7.4.5. Vietnam
    • 7.4.6. South Korea
    • 7.4.7. Indonesia
    • 7.4.8. Philippines
  • 7.5. Middle East & Africa
    • 7.5.1. Saudi Arabia
    • 7.5.2. UAE
    • 7.5.3. South Africa

8. Market Mapping, 2023

  • 8.1. By Technology
  • 8.2. By Location
  • 8.3. By Application
  • 8.4. By Region

9. Macro Environment and Industry Structure

  • 9.1. Supply Demand Analysis
  • 9.2. Import Export Analysis
  • 9.3. Value Chain Analysis
  • 9.4. PESTEL Analysis
    • 9.4.1. Political Factors
    • 9.4.2. Economic System
    • 9.4.3. Social Implications
    • 9.4.4. Technological Advancements
    • 9.4.5. Environmental Impacts
    • 9.4.6. Legal Compliances and Regulatory Policies (Statutory Bodies Included)
  • 9.5. Porter's Five Forces Analysis
    • 9.5.1. Supplier Power
    • 9.5.2. Buyer Power
    • 9.5.3. Substitution Threat
    • 9.5.4. Threat from New Entrant
    • 9.5.5. Competitive Rivalry

10. Market Dynamics

  • 10.1. Growth Drivers
  • 10.2. Growth Inhibitors (Challenges and Restraints)

11. Key Players Landscape

  • 11.1. Competition Matrix of Top Five Market Leaders
  • 11.2. Market Revenue Analysis of Top Five Market Leaders (in %, 2023)
  • 11.3. Mergers and Acquisitions/Joint Ventures (If Applicable)
  • 11.4. SWOT Analysis (For Five Market Players)
  • 11.5. Patent Analysis (If Applicable)

12. Pricing Analysis

13. Case Studies

14. Key Players Outlook

  • 14.1. Ocean Power Technologies, Inc.
    • 14.1.1. Company Details
    • 14.1.2. Key Management Personnel
    • 14.1.3. Products & Services
    • 14.1.4. Financials (As reported)
    • 14.1.5. Key Market Focus & Geographical Presence
    • 14.1.6. Recent Developments
  • 14.2. Eco Wave Power Global AB
  • 14.3. Carnegie Clean Energy Limited
  • 14.4. Sinn Power GmbH
  • 14.5. Nemos GmbH
  • 14.6. Wave Swell Energy Limited
  • 14.7. AWS Ocean Energy Limited
  • 14.8. CorPower Ocean
  • 14.9. Hann-Ocean Energy Pte. Ltd.
  • 14.10. Aquanet Power

Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.

15. Strategic Recommendations

16. About Us & Disclaimer