REPORT DESCRIPTION
Global Point Absorber Market : Overview
The point absorber , a type of wave energy convertor ( WEC ), can provide substantial quantities of power in a small device as compared to other technologies . Although their designs and working mechanisms differ , they mostly work in the same manner . Point absorbers find application in commercial , industrial and residential purposes . The market for point absorber is still in a nascent stage .
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Point absorbers can be installed offshore , near the shore , and in the shoreline . The first kind of point absorber is the Ocean Power Technology ’ s Power Buoy . It floats on the surface of the ocean and bobs on account of the waves . This movement results in generation of energy . The second type of point absorber is Carnegie Wave Energy ’ s ( CETO ). This CETO harnesses the energy of the waves passing by to pull the buoy away from its structure .
A report by TMR Research shows conveys in-depth and accurate information on the global market for point absorbers . It describes the scope of the market , segments it depending upon various parameters , and forecasts its growth trajectory . It furnishes a qualitative analysis of the prominent growth drivers and restraints in the market . The report also profiles important players in the market and employs market leading analytical tools to uncover opportunities for them .
Majorly boosting the global market for point absorber is the rising demand for renewable energy on a commercial scale , worldwide . Stringent rules regarding conventional energy production methods has also been augmenting growth . Going forward , the aforementioned factors will continue stoking demand in the market .
Further , a point absorber steals a march over other such products meant to capture and convert wave energy into electrical energy by continuously producing energy notwithstanding the direction of the waves . This unique perceived benefit is slated to up their swift uptake . A noticeable trend in the market is the increasing thrust on research and development by leading players in the domain to come up with cutting-