Global Wave Energy Market to Reach $141.1 Million by 2027: AMR
Increase in demand for electricity from the coastal communities and easy and abundant availability of wave energy sources drive the growth of the global wave energy market. The market across Europe dominated to market in 2019, accounting for more than half of the market. The Covid-19 pandemic resulted in a temporary shutdown on plants and the construction of new projects to curb the spread of coronavirus.
Portland, OR, Jan. 11, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global wave energy market was pegged at $43.8 million in 2019, and is projected to reach $141.1 million by 2027, registering at a CAGR of 17.8% from 2020 to 2027.
Rise in demand for electricity from the coastal communities and availability of wave energy sources have boosted the growth of the global wave energy market. On the other hand, high capital investment & insufficient infrastructure hinder the market growth. On the contrary, increasing investments and government initiatives in the renewable energy sector would create lucrative opportunities for the market players in the coming years.
Download Sample PDF (230 Pages with More Insight): https://www.alliedmarketresearch.com/request-sample/8188
Covid-19 scenario:
- The Covid-19 pandemic resulted in a temporary shutdown on plants and the construction of new projects to curb the spread of coronavirus.
- However, as governments of several countries have eased off lockdown restrictions and the energy demand is increasing, the market is expected to get back on track soon.
The global wave energy market is segmented on the basis of technology, location, application, and region. Based on technology, the market is categorized into oscillating water column, oscillating body converters, and overtopping converters. The oscillating body converters segment is estimated to manifest the highest CAGR of 18.0% during the forecast period. In addition, the segment held the lion’s share in 2019, contributing to more than half of the market.
Get detailed COVID-19 impact analysis on the Wave Energy Market: https://www.alliedmarketresearch.com/request-for-customization/8188?reqfor=covid
On the basis of application, the market is divided into power generation, water desalination, pumping of water, and environmental protection. The power generation segment held the largest share in 2019, accounting for more than half of the total revenue of the market. However, the environmental protection segment is projected to portray the highest CAGR of 18.0% during the forecast period.
The global wave energy market is analyzed across various regions such as North America, Asia-Pacific, LAMEA, and Europe. The market across Europe dominated to market in 2019, accounting for more than half of the market. Moreover, the region is estimated to register the highest CAGR of 18.1% during the forecast period.
Make Purchase Report Enquiry Here: https://www.alliedmarketresearch.com/purchase-enquiry/8188
The global wave energy market report includes an in-depth analysis of the major market players such as Ocean Power Technologies, Eco Wave Power, Nemos GmbH, Wave Swell Energy Ltd., Aquamarine Power Ltd., Carnegie Clean Energy Limited., Ocean Energy Systems, Amog Consulting, AWS Ocean Energy Ltd., and Sinn Power GmbH.
Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.
Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter
Get more information: https://www.alliedmarketresearch.com/library-access
Similar Reports:
Nuclear Energy Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
Turbine Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
Power Generation Technologies Market: Global Opportunity Analysis and Industry Forecast 2020-2027
Wind Electric Power Generation Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
Power Generation Market: Global Opportunity Analysis and Industry Forecast, 2020- 2027
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.
Contact us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada): +1-800-792-5285, +1-503-446-1141
International: +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
Web: https://www.alliedmarketresearch.com
Follow Us on | Facebook | Twitter | LinkedIn |
