Global Ocean Energy Markets, 2016-2018 & 2024: Project Proponent, Technology, Location, Capacity (MW) and Development Stage Tidal Energy Gains Momentum

Global Ocean Energy Markets, 2016-2018 & 2024: Project Proponent, Technology, Location, Capacity (MW) and Development Stage Tidal Energy Gains Momentum

DUBLIN, June 20, 2018 /PRNewswire/ —

The “Ocean Energy – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.

The report provides separate comprehensive analytics for the US, Canada, Japan Europe, and Rest of World. Annual estimates and forecasts are provided for the period 2015 through 2022. Market data and analytics are derived from primary and secondary research.

This report analyzes the worldwide markets for Ocean Energy in Kilowatts by the following Technology Segments:

  • Wave Energy
  • Others

The report profiles 61 companies including many key and niche players such as:

  • Able Technologies, L.L.C. (USA)
  • Albatern Ltd. (UK)
  • Applied Technologies Company, Ltd. (Russia)
  • AquaGen Technologies (Australia)
  • Aqua-Magnetics Inc. (USA)
  • Atargis Energy Corporation (USA)
  • Atlantis Resources Ltd. (UK)
  • BioPower Systems Pty. Ltd. (Australia)
  • Blue Energy Canada Inc. (Canada)
  • Carnegie Clean Energy Limited (Australia)
  • Minesto AB (Sweden)
  • Nova Innovation Ltd. (UK)
  • Ocean Power Technologies Inc. (USA)
  • Ocean Renewable Power Company, LLC (USA)
  • OpenHydro Group Limited (Ireland)
  • Scotrenewables Tidal Power Ltd. (Scotland)
  • Tocardo International BV (Netherlands)
  • Verdant Power, Inc. (USA)

Key Topics Covered:

  1. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS
  2. INDUSTRY OVERVIEW

Ocean Energy: Harnessing the Sheer Potential of Oceans & Seas for Meeting Future Energy Needs

Important Factors Influencing the Global Ocean Energy Market

Growing Environmental Concerns

Increasing Regulations

Rising Electricity Consumption & Energy Prices

Shift to Renewable Sources of Energy: An Inevitable Reality

Huge Untapped Kinetic Energy Potential of Oceans: A Fundamental Growth Driver

Fast Facts

Growth Drivers in a Nutshell

Key Market Inhibitors

Government Intervention Critical for Commercial Success of Ocean Energy

Domestic Targets for Greenhouse Gas Emissions of Select Regions/Countries

Technology Commercialization: Need of the Hour

Ocean Energy – A Review of Current Scenario

Global Market Outlook

Europe Leads the Global Ocean Energy Market

Europe: Focal Point for Ocean Energy Technologies R&D

Asia-Pacific: Frontrunner in Tidal Barrage Power Plants

  1. MARKET TRENDS, ISSUES & DRIVERS

Growing Number of Wave Energy Projects Worldwide Drives Strong Market Growth

Major Wave Energy Projects Worldwide: Project Proponent, Technology, Location, Capacity (MW) and Development Stage

Tidal Energy Gains Momentum

MeyGen – A Multi-Turbine Tidal Stream Project in Scotland

Tidal Energy Projects Worldwide

Major Tidal Projects (Existing & Proposed) Worldwide

Tidal Stream Projects Lends Traction to Market Growth

Tidal Range Projects to Face Challenges

Ocean Thermal Energy Conversion (OTEC) – A Niche Segment

OTEC Project on the South Pacific Ocean Obtains Bureau Veritas Approval

Other FOWT Projects

Major FOWT Projects Worldwide: Project Proponent, Technology, Location, Capacity (MW) and Development Stage

Rising Investments in Renewable Energy Sources Benefit Market Expansion

Superior Attributes of Tidal Energy Attract New Developers, Benefits Market Adoption

Horizontal Axis Turbines Grab Lion’s Share of Tidal Energy Devices

Tidal Energy: Abundant Resources despite Technology Barriers

Despite Dominance of Tidal Energy, Wave Energy Garner Growing Attention and Investments

Small Islands Provide Big Push for Ocean Thermal Energy Conversion Plants

Surveys to Play a Vital Role in Project Developments

Robust Electric Power Consumption Drives the Need for Alternative Energy Sources

Burgeoning Global Population Propels Demand for Electric Power

Key Challenges Hampering Ocean Energy Development

Financial Support and Markets

Administrative and Environmental Issues

Environmental Challenges

Administrative Issues

Social Acceptance Impediments

Availability of Grid Close to Projects

Grid Integration

Technology Advancements

  1. INNOVATIONS AND ADVANCEMENTS

PLAT-O Driving Down Tidal Energy Costs

bioWAVE: The New Ocean Energy Harnessing Device Deployed off the Australian Coast

THWAT Turbine for Tidal Energy

HiWave: A Novel WEC Technology that Works on the Human Heart Blood Pumping Principle

Xenesys and Saga University to Develop OTEC Technology

Japan Houses the State-of-the-Art OTEC Center

Technology Developments to Harness Salt Power

  1. CONCEPT OF OCEAN ENERGY

Ocean Energy

Ocean Energy Extraction

Mechanical Energy

Thermal Energy

Wave Energy

Availability of Wave Energy

Major Resources

Potential of Wave Power

Advantages of Wave Energy

Challenges Faced by Wave Energy Power Facilities

Technology Overview

Oscillating Water Column (OWC)

Point Absorption Devices

Attenuator

Overtopping Devices

Tidal Energy

Methods of Energy Conversion

Tidal Barrage

Tidal Streams

Potential of Tidal Power

Advantages

Inexhaustible and Highly Reliable

Less Conspicuous

Predictability

Environmental Concerns

Floating Offshore Wind Turbine (FOWT)

Ocean Thermal Energy

Salt Power

Resources

  1. COMPETITIVE LANDSCAPE

Ocean Energy: A Highly Fragmented Market

Untapped Growth Potential Luring Players

Select Wave Energy Technology Developers and Devices in the US

6.1 Focus on Select Global Players

Able Technologies, L.L.C. (USA)

Albatern Ltd. (UK)

Applied Technologies Company, Ltd. (Russia)

AquaGen Technologies (Australia)

Aqua-Magnetics Inc. (USA)

Atargis Energy Corporation (USA)

Atlantis Resources Ltd. (UK)

BioPower Systems Pty. Ltd. (Australia)

Blue Energy Canada Inc. (Canada)

Carnegie Clean Energy Limited (Australia)

Minesto AB (Sweden)

Nova Innovation Ltd. (UK)

Ocean Power Technologies Inc. (USA)

Ocean Renewable Power Company, LLC (USA)

OpenHydro Group Limited (Ireland)

Scotrenewables Tidal Power Ltd. (Scotland)

Tocardo International BV (Netherlands)

Verdant Power, Inc. (USA)

6.2 Product Launches

Scotrenewables Tidal Power Unveils 2MW SR2000 Tidal Turbine

Kepler Energy Develops Transverse Horizontal Axis Water Turbine (THAWT) Technology

Makai Ocean Engineering Unveils OTEC Power Plant

6.3 Recent Industry Activity

Atlantis Signs MoU with Xodus

Atlantis Collaborates with LM Nagasaki University

Atlantis to Divest Stake in Atlantis Operations Canada

Minesto Completes First Offshore Installation Phase

Seabased to Build Two 20-MW Wave Power Plants in the Caribbean

DCNS Announces the Formation of DCNS Energies

Wrtsil Inks Global Co-Operation Agreement with AW-Energy

Subsea 7 Collaborates with Flumill

Tribute Resources to Acquire Outstanding Share of Tocardo International

TenneT Enters into a Grid Connection Agreement with DONG Energy

Atlantis Signs Strategic Partnership Agreement with Hyundai Engineering & Construction

Ocean Thermal Energy Completes Reverse Merger with TetriDyn Solutions

Ocean Power Technologies Inks Lease Agreement with Mitsui Engineering and Shipbuilding

Carnegie Clean Energy Wins $15.7 Million State-Government Grant

Scotrenewables Tidal Power Deploys SR2000 Floating Tidal Turbine for Testing at the EMEC

Atlantis Resources Inks Preferred Supplier Agreement with SBS International

DCNS Energies Signs LOI with PT AIR

Ormat Technologies Acquires Viridity Energy

TU Delft Inks Agreement with Japan

Nine Companies Join Forces to Form Australian Marine Energy Taskforce

General Electric Suspends Oceade Tidal Energy Turbine Development

MacArtney Underwater Technology Acquires Majority Holding in ASME

Atlantis Acquires Scottish Tidal Project Assets from ScottishPower Renewables

Tribute Resources Takes Over Stake in Tocardo International

Atlantis’ MeyGen Project Inks Agreement with Lochend Wind Energy

Atlantis Resources Enters into a MoU with SBS Intl

PT AIR and OpenHydro Signs MoU

Carnegie Wave Energy signs a Deal with Energy Made Clean

Verdant Power and Belleville Duggan Renewables to Form Verdant Isles

Carnegie Wave Energy to Develop Biggest Wave Energy Project in the UK

Carnegie Wave Energy to Construct Renewable Energy Microgrid

Carnegie Wave Energy Signs MoU with Lanka Energy Conservation

OpenHydro to Supply Tidal Turbine System for Japan

Atlantis Commences the MeyGen Project

Sotens Wave Power Plant Starts Generating Electric Power to Nordic Electricity Grid

KRISO Receives Bureau Veritas Approval for Ocean Thermal Energy Converter Project

Tocardo to Deploy T2 Bi-Directional Turbines in the Minas Passage

Tocardo to Install Eight T2 Turbines at EMEC’s Grid-Connected Tidal Test Site

Carnegie Wave Energy Bags Grant from European Regional Development Fund

US DOE to Offer US$ 40 Million for Wave Energy Test Facility

EIB to Invest 10 Million in AW-Energy

Thane Municipal Corporation to Establish a Tidal Energy Plant

Karnataka Government Strikes a Deal with Tar Kovacs Systems

Carnegie Wave Energy to Rename as Carnegie Clean Energy

Ocean Power Technologies Changes PowerBuoy Device Name to PB3

GE Acquires Alstom’s Power and Grid Businesses

Atlantis Acquires Marine Current Turbines from Siemens

British Columbia and Nova Scotia Enters into a Partnership

SABELLA, and H and WB Asia Pacific Sign Memorandum of Agreement

Alstom Selects Moventas as Sole Gearbox Development Partner

European Marine Energy Centre and FloWave Ocean Energy Enter into Collaboration

WERPO Signs Partnership Agreement with ACEP

Tocardo Tidal Turbines and Huisman Install Tidal Turbines in Eastern Scheldt Storm Surge Barrier

SCHOTTEL HYDRO to Supply Variable Pitch Hub for MeyGen Tidal Energy Project

Swedish Energy Agency Grants 2 Million to Corpower Ocean

Indian Navy to Establish OTEC Project in Andaman and Nicobar Islands

Apple to Invest 1 Million in Irish Wave Energy Project

Seabased Industry Installs First Wave Power Plant in Ghana

NEDO Selects IHI and Toshiba for Tidal Energy Turbine System

Atlantis Receives Approval for MeyGen tidal project in Scotland

  1. GLOBAL MARKET PERSPECTIVE
  • REGIONAL MARKET PERSPECTIVE

  • 8.1 The United States

    A. Market Analysis

    Vast Shoreline and Favorable Regulations Drive Strong Market Growth

    Major Wave Energy and FOWT Projects in the US: Project Proponent, Technology, Location, Capacity (MW) and Development Stage

    Huge Potential for Power Generation Drive Federal Government Funding in Ocean Energy

    US Open Sea Test Sites

    Hawaii Powering the US Ocean Energy Market

    Wave Energy

    Ocean Thermal Energy

    The WETS Location in Hawaii: A Major Testing Location

    B. Market Analytics

    8.2 Canada

    A. Market Analysis

    Canada: A Key Proponent of Ocean Energy Worldwide with Significant Market Potential

    Provinces with Potential Tidal Stream Energy

    Provinces with Potential Wave Energy

    Major Marine Research Centers

    Major Tidal Stream and Wave Energy Projects in Canada: Project Proponent, Technology, Location, Capacity (MW) and Launch Year

    Canada Reinforces its Position in Tidal and Wave Energy Sector

    Canadian Open Sea Test Sites

    Major Developments in the Canadian Ocean Energy Terrain

    Canada to Tap Tidal Power Generation Capacity in Bay of Fundy

    B. Market Analytics

    8.3 Japan

    A. Market Analysis

    Japan Offers Significant Opportunities in Marine Energy Generation

    Potential Opportunities

    Government Funding Promotes Tidal Technology Development

    Nagasaki to Emerge as Hub for Ocean Energy

    Development of Ocean Energy Gains Traction in Japan Following the Natural Disaster

    Major Tidal Stream and Wave Energy Projects in Japan: Project Proponent, Technology, Capacity (MW), Location and Development Stage

    Major Other Ocean Energy Projects in Japan: Project Proponent, Technology, Location, Capacity (MW) and Development Stage

    B. Market Analytics

    8.4 Europe

    A. Market Analysis

    Europe Moves Ahead to Tap Tidal and Wave Energy

    Major Tidal and Wave Energy Projects in Europe

    Ocean Energy Capacity to Grow Substantially

    Myriad Benefits of Ocean Energy Promote Sustainable Energy Development

    Mitigates Carbon Emissions and Climate Change

    Supports Grid Stability and Lowers Systems Cost

    Benefits Associated Sectors

    Reduces Dependence on Diesel Generation

    Supports Economy

    European Policy for Ocean Energy

    Industry and EU Funds Support Ocean Energy RD&D Efforts

    Ocean Energy to Gather More Steam with Public Support

    Major Policy Initiatives Aid in Commercialization of Ocean Energy Technologies

    Pre-commercial Projects Under NER300 Programme

    EIB to Support Innovative Pioneering Demonstration Projects

    B. Market Analytics

    8.4.1 France

    A. Market Analysis

    Major Tidal Stream and Wave Energy Projects in France: Project Proponent, Technology, Location, and Capacity (MW)

    France Announces Major Plans to Harness Ocean Energy

    French Open Sea Test Sites

    French Government Supports Tidal Energy Projects

    B. Market Analytics

    8.4.2 The United Kingdom

    A. Market Analysis

    The UK Set to Take Center Stage in European Wave Energy Market

    The UK to Replace France as the Leading Ocean Energy Market in Europe

    New Project to Support Ocean Energy

    The UK Scouring Depths of Ocean for Power

    UK Open Sea Test Sites

    Rising Investments in Tidal Energy Projects Benefits Country’s Ocean Energy Sector

    Scotts and Irish Collaborate on Ocean Energy

    Despite Brexit, British Ocean Energy Market Firmly on the Growth Trajectory

    Brexit Not Casting Gloom over Committed Investments

    Consistent Funding Despite Political Uncertainties

    Major Challenges to Surmount for the UK Ocean Energy Market

    Commercialization

    Reduced Production Costs

    Stability and Continuity in Policies

    Contracts for Difference

    Industry and Government Collaboration: Need of the Hour

    B. Market Analytics

    8.4.3 Spain

    A. Market Analysis

    Spanish Open Sea Test Sites

    B. Market Analytics

    8.4.4 Portugal

    Market Analysis

    8.4.5 Rest of Europe

    A. Market Analysis

    Open Sea Test Sites

    Overview of Select Countries

    Netherlands

    Tocardo Announces Various Tidal Projects

    Norway

    Major Tidal and Wave Energy Projects in Norway: Project Proponent, Technology, Capacity (MW) and Development Stage

    B. Market Analytics

    8.5 Rest of World

    A. Market Analysis

    Asia-Pacific

    Tidal Power Closing Gap with Solar and Wind Energy

    Pacific Islands to Ride on Ocean Wave Energy

    Vast Potential in the Pacific Waters

    Slow Rate of Technological Advancements Hampering Progress

    Many Challenges to Surmount Before Success

    British Firms Keen to Tap Rich Ocean Energy Potential of Filipino Waters

    Select Regional Markets

    Australia

    Major Ocean Energy Projects in Australia: Project Proponent, Description, Location, and Development Stage

    Australia Funds Project to Understand and Unlock Potential of Tidal Energy

    China

    Major Ocean Energy Projects in China: Project Proponent, Location, Capacity (MW) and Year of Operation

    Chinese Open Sea Test Sites

    Technology Advancements in Tidal Power Harnessing

    India

    India Marches Ahead to Harness Ocean Renewable Energy

    Indonesia

    Major Ocean Energy Projects in Indonesia: Project Proponent, Technology, Capacity (MW), and Location

    South Korea

    Major Wave and Tidal Energy Projects in South Korea: Project Proponent, Technology, Capacity (MW) and Project Period

    Major OTEC, Salinity Gradient & Other Ocean Energy R&D Projects in South Korea: Project Proponent, Technology, and Project Period

    South Korean Open Sea Test Sites

    Philippines

    Major Ocean Energy Projects in the Philippines: Project Proponent, Technology, Capacity (MW) and Location

    B. Market Analytics

    1. COMPANY PROFILES
    • Total Companies Profiled: 61 (including Divisions/Subsidiaries – 61)
    • The United States (10)
    • Canada (4)
    • Europe (39)
    • France (2)
    • Germany (2)
    • The United Kingdom (17)
    • Spain (1)
    • Rest of Europe (17)
  • Asia-Pacific (Excluding Japan) (7)
  • Middle East (1)
  • For more information about this report visit https://www.researchandmarkets.com/research/kvnm6d/global_ocean?w=5

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