Tidal power is obtained due to alternating sea levels. It is the most reliable source of renewable energy since tidal currents are 100% predictable.The kinetic energy generated from the natural rise and fall of tides is harnessed and converted into electricity. The constant change in tidal movements that occur twice a day from the moon’s gravitational force make it reliable. A very reliable estimation of the total output from a tidal energy project can easily be made. Many recent technological developments and improvements, both in design and turbine technology indicate that the total availability of tidal power is much higher than previously assumed. Dynamic tidal power, tidal lagoons, new axial turbines, and cross flow turbines, are a few such improvements.
Increased focus towards development of cleaner power generation technologies, which have the least negative impact on the environment, have been driving the market towards growth. Moreover, global population growth, thriving industries in emerging economies, and a rise in infrastructure development activities lead to a massive rise in demand for electricity. This factor, along with the rise in stringent environment protection regulations across the globe, is encouraging the switching to cleaner and environment-friendly energy resources.
- Atlantis Resources Ltd.
- Envirotek Pte Ltd
- Naval Energies
- Tidal Energy Ltd.
- Tidal Bridge B.V.
- SBS Intl Ltd
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Scope of the report
This study provides an overview of the global Tidal Energy market, tracking one market segment across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Tidal Energy market by its Process, application and region.
- By Process –
- By Application
- Personal Care
- Consumer goods
- By Region
- North America
- Asia Pacific
- Rest of the World
Market Research Analysis
The global market can be segmented by geography into Asia Pacific, North America, Europe, and the Rest of the World. Europe is the global leader in the development of ocean energy technologies, hosting most of the global developers (52% of tidal stream and 60% of wave energy developers). South Korea is expected to lead with the tidal barrage technology and is expected to add more capacity.
The renewable industry in North America is quite developed. According to the World Energy Agency, the driving forces to contribute in the North America market are the location, incentives, and government policies.
Whereas, the Asia Pacific region is expected to grow in the forecast period due to factors such as increasing demand for energy, identified as the best replacement to other conventional fossil fuel energy and are used to reduce carbon emission by effectively meeting the electricity needs.
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