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 1. Market Research
 2. > Energy & Environment
 3. > Energy
 4. > Renewable Energy
 5. > Marine Energy Market Trends


WAVE ENERGY CONVERTER MARKET BY TECHNOLOGY, LOCATION, APPLICATION, REGION -
FORECAST TO 2030

 * September 2022
 * 200 pages
 * ID: 5881826
 * Format: PDF
 * MarketsandMarkets

Up to €1339 off Until Oct 20th 2022

Summary

Table of Contents

Search Inside



The wave energy converter market is expected to grow from an estimated in USD 20
million in 2022 to USD 28 million by 2030, at a CAGR of 4.3% during the forecast
period. The primary drivers of the market include rising demand for energy
production through renewable sources accompanies by the increasing investments
in the renewables sector.

The power generation segment, by application, is expected to be the largest and
the fastest-growing market from 2022 to 2030
The wave energy converter market, by application, is bifurcated into power
generation, desalination and environmental protection. The power generation
segment is expected to dominate in terms of market share and CAGR during the
forecast period and this dominance can be attributed to the rising demand from
various end use industries due to rapid industrialization.

The offshore segment, by location, is expected to be the fastest-growing market
from 2022 to 2030
The wave energy converter market by location is segmented into shoreline,
nearshore and offshore.The offshore segment is expected to be the fastest
growing segment, followed by the nearshore segment.

The high growth rate can be attributed to the increasing number of installations
for the purpose of R&D across various countries.

Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants,
subject-matter experts, C-level executives of key market players, and industry
consultants, among other experts, to obtain and verify critical qualitative and
quantitative information, as well as to assess future market prospects. The
distribution of primary interviews is as follows:
• By Company Type: Tier 1- 65%, Tier 2- 24%, and Tier 3- 11%
• By Designation: C-Level- 30%, Director Level- 25%, and Others- 45%
• By Region: Asia Pacific- 33%, Rest of The World – 20%, Europe – 20%, and North
America – 27%

Note: Others includes sales managers, marketing managers, product managers, and
product engineers.

The tier of the companies is defined based on their total revenue as of 2017.
Tier 1: USD 1 billion and above, Tier 2: From USD 500 million to USD 1 billion,
and Tier 3:
The wave energy converter market is dominated by a few major players that have a
wide regional presence. The leading players in the wave energy converter market
Ocean Power Technologies (US), Eco Wave Power (Israel), CorPower Ocean (Sweden),
Wello Oy (Finland), CalWave (US) and others.

Study Coverage:
The report defines, describes, and forecasts the wave energy converter market,
by reactor type, connectivity, deployment, location, application, and region.It
also offers a detailed qualitative and quantitative analysis of the market.

The report provides a comprehensive review of the major market drivers,
restraints, opportunities, and challenges. It also covers various important
aspects of the market, which include the analysis of the competitive landscape,
market dynamics, market estimates in terms of value, and future trends in the
wave energy converter market.

Key Benefits of Buying the Report
1. The report identifies and addresses the key markets for wave energy converter
operations and services, which would help equipment manufacturers and service
providers review the growth in demand.
2. The report helps system providers understand the pulse of the market and
provides insights into drivers, restraints, opportunities, and challenges.
3. The report will help key players understand the strategies of their
competitors better and help them in making better strategic decisions.


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