The point absorber market will likely grow due to rising global renewable energy demand over the coming years. Additionally, increasing sustainable energy requirements at a commercial scale are expected to further propel the global point absorber market over the forecast period. Furthermore, Stringent regulations regarding conventional energy generation methods are also projected to impact market growth positively. Moreover, the point absorber continuously generates energy irrespective of wave directions which is an advantage over other wave energy generating technologies and is expected to drive market growth over the forecast period.
MARKET SCOPE
The "Global Point Absorbers Market Analysis to 2028" is a specialized and in-depth study of the manufacturing and construction industry with a special focus on global market trend analysis. The report aims to provide an overview of the point absorbers market with detailed market segmentation by type, application, and geography. The global point absorbers market is expected to witness rapid growth during the forecast period. The report provides key statistics on the market status of the leading point absorbers market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global point absorbers market is segmented by type, and application.
- Based on product type, the market is segmented into Silica Gel, Alumina, Activated Carbon, Polyamide, Diatomite, Others
- On the basis of application, the market is segmented into Water Treatment, Household, Commercial, Others
MARKET DYNAMICS
Drivers-
- Increasing sustainable energy requirements at a commercial scale are expected to further propel the global point absorber market over the forecast period.
Restrains
- The point absorber deployment in sensitive areas near the shore and aquatic life zone has a negative impact on aquatic species. Such devices are expected to alter water movement and turbulence, which may result in inhabitant changes. It is expected to hinder the point absorber market over the forecast period.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The automotive connector's market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the automotive connector's market in these regions.
IMPACT OF COVID-19
The manufacturers have closed their production process due to a disrupted supply of equipment and components from suppliers located in Southeast Asian countries and China due to the shutdown owing to the COVID-19 pandemic. Additionally, those companies involved with the point absorber had to close their manufacturing units due to a lack of workforce availability, which hampered market growth to a large extent. Wave energy has an extensive global resource and, thus, a great potential to contribute to low-carbon energy systems. Increasingly ambitious carbon-reducing emissions have been passed into legislation in many countries worldwide, creating the requirement for increasing renewable electricity generation capacity. Ocean energy is a relatively under-exploited renewable source but could form an important part of low-carbon energy mixes in the future. Wave energy, in particular, has a large worldwide resource, with 29,500 TWh/yr theoretical resources estimated globally. Wave energy technologies are at a relatively nascent stage in development, with considerable progress seen in recent years. In Europe, several wave energy developers have deployed both parts- and full-scale prototypes, funded by European agencies such as the European Commission and regional funding programs such as Wave Energy Scotland. Thus, the market is expected to boost in the forecast period.
MARKET PLAYERS
The reports cover key developments in the point absorbers market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnerships & collaborations. These activities have paved the way for the expansion of business and the customer base of market players. The market players from the point absorbers market are anticipated to have lucrative growth opportunities in the future with the rising demand for point absorbers in the global market. Below mentioned is the list of few companies engaged in the point absorbers market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the point absorbers market. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, the key development in the past five years.
- Pelamis Wave Power Ltd
- AWS Ocean Energy Ltd
- Ocean Navitas Ltd
- Carnegie Corporation
- Ocean Power Technologies
- Wave Bob LLC
- The European Energy Centre Ltd
- Wavestar
- CorPower Ocean
- Eco Wave Power