Turbines, which are located in the course of running water, are used to generate tidal power. The water's kinetic energy is converted into electrical energy via the turbines. Tidal power is significant since it is a renewable resource that emits no pollutants. The natural rise and fall of ocean tides or seawater levels is powered by the interaction of gravitational forces between the moon and the sun. The rise and fall of the tides can be used to generate electricity or for other purposes. Some technologies, such as tidal barrages and turbines, are submerged in the ocean and use kinetic energy generated by the rise and fall of the tides or by the difference in water levels to generate considerable amounts of power.
MARKET DYNAMICS
Tidal power facilities that use cutting-edge technology have been able to generate electricity at cheaper costs than other renewable energy sources like wind and solar. This feature is expected to boost their market share in industrial applications in emerging nations, which are also important manufacturing centres for these turbines. In addition, government policies that encourage large-scale foreign investment will help the business expand in the next years. For example, the Operationally Critical Infrastructure (OCC) Protection Program, a government project led by the U.S. Department of Homeland Security, protects critical infrastructure.
MARKET SCOPE
The "Global Tidal Power Generation Equipment Market Analysis to 2028" is a specialized and in-depth study of the tidal power generation equipment market with a special focus on the global market trend analysis. The report aims to provide an overview of the tidal power generation equipment market with detailed market segmentation by type, application, and geography. The global tidal power generation equipment market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading tidal power generation equipment market players and offers key trends and opportunities in the tidal power generation equipment market.
MARKET SEGMENTATION
The global tidal power generation equipment market is segmented based on type and application. Based on type, tidal power generation equipment market is segmented into single-library unidirectional station, single-library bi-directional station and double-library bi-directional station. Based on application, tidal power generation equipment market is segmented into industrial and commercial application.
IMPACT OF COVID-19 ON TIDAL POWER GENERATION EQUIPMENT MARKET
The COVID-19 pandemic had an influence on the tidal power market, causing delays in project completion. For example, due to the pandemic, the United Kingdom and India's recent demonstrated tidal power study project in India's Sunderban region was halted. Due to the global energy transition toward renewables and the introduction of new technologies in many developed nations, the industry is expected to rise in the future. However, the market is heavily hindered due to the technology's excessive pricing and environmental concerns.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Tidal Power Generation Equipment Market based on various segments. It also provides market size and forecast estimates from year 2017 to 2028 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The Tidal Power Generation Equipment Market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting Tidal Power Generation Equipment Market from both demand and supply side and further evaluates market dynamics effecting the market during 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 effecting the tidal power generation equipment market in these regions.
MARKET PLAYERS
The reports cover key developments in the tidal power generation equipment 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 partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from tidal power generation equipment market are anticipated to lucrative growth opportunities in the future with the rising demand for tidal power generation equipment market. Below mentioned is the list of few companies engaged in the tidal power generation equipment market.
The report also includes the profiles of key tidal power generation equipment market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
-Tidal Energy
-Atlantis Resources
-Ocean Power Technologies
-Tenax Energy
-AquaGen Technologies
-Ocean Renewable Power
-S.D.E. Energy
-Marine Current Turbines
-Aquamarine Power
-Alternative Energy