Market research Future Wave and Tidal Energy Market Worth 17.84 % CAGR. | Page 2

Wave and Tidal Energy Market Research Report- Forecast to 2023
1 Summary
There is great potential for wave energy to become a major renewable energy source in the future. Though
the development of the tidal power is at the promising stage, it is estimated to have a high potential,
globally. It is generated from converting energy from the force tides into power. Future research and
development is needed to improve the technology and durability of the equipment, as well as to identify,
reduce, and potentially mitigate the negative impacts of this technology upon marine life. However, recent
innovations in design and turbine technology for tidal power are expected to influence and increase the
installed capacity of tidal plants.
Key Players:
The key players of global wave & tidal energy market are Atlantis Resources Ltd (London), Aquamarine
Power Ltd (U.K.), Carnegie Wave Energy Limited (Australia), Ocean Power Technologies Inc.( U.S.), IHI
Corporation (Japan), Pelamis Wave Power (Scotland), Ocean Renewable Power CO Llc (Portland), YAM
PRO Energy (Israel), Tenax Energy (Australia) and AW Energy Oy Ltd (Vantaa)
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