Ocean Energy: Market Research Report

Date: January 11, 2016
Pages: 251
Price:
US$ 4,500.00
Publisher: Global Industry Analysts, Inc
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: O0F53624696EN
Leaflet:

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Ocean Energy: Market Research Report
This report analyzes the worldwide markets for Ocean Energy in Kilowatts by the following Technology Segments: Wave Energy, and Others. The report provides separate comprehensive analytics for the US, Canada, Japan Europe, and Rest of World. Annual estimates and forecasts are provided for the period 2015 through 2022. Also, a six-year historic analysis is provided for these markets. Market data and analytics are derived from primary and secondary research. Company profiles are primarily based on public domain information including company URLs.

The report profiles 61 companies including many key and niche players such as -
  • Able Technologies, L.L.C
  • Albatern Ltd.
  • Applied Technologies Company, Ltd.
  • AquaGen Technologies
  • Aqua-Magnetics Inc.
I. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS

Study Reliability and Reporting Limitations
Disclaimers
Data Interpretation & Reporting Level
Quantitative Techniques & Analytics
Product Definitions and Scope of Study
Wave Energy
Others

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Ocean Energy: Harnessing the Sheer Potential of Oceans & Seas for Meeting Future Energy Needs
Important Factors Influencing the Global Ocean Energy Market
Growing Environmental Concerns
Increasing Regulations
Rising Electricity Consumption & Energy Prices
Shift to Renewable Sources of Energy: An Inevitable Reality

Table 1. Global Renewable Power Capacity (2016): Percentage Share Breakdown by Technology for Bio-power, Concentrating Solar Thermal Power, Geothermal Power, Hydropower, Ocean Power, Solar PV, and Wind Power (includes corresponding Graph/Chart)

Huge Untapped Kinetic Energy Potential of Oceans: A Fundamental Growth Driver
Fast Facts
Growth Drivers in a Nutshell
Key Market Inhibitors
Government Intervention Critical for Commercial Success of Ocean Energy
Domestic Targets for Greenhouse Gas Emissions of Select Regions/Countries
Technology Commercialization: Need of the Hour
Global Market Outlook
Europe Leads the Global Ocean Energy Market
Europe: Focal Point for Ocean Energy Technologies R&D
Asia-Pacific: Frontrunner in Tidal Barrage Power Plants
Competitive Landscape
Ocean Energy: A Highly Fragmented Market
Untapped Growth Potential Luring Players
Select Wave Energy Technology Developers and Devices in the US

Table 2. Global Wave Energy Devices Breakdown (%) by Application: 2015 (includes corresponding Graph/Chart)
Table 3. Global Wave Energy Device Breakdown (%) by Installation: 2015 (includes corresponding Graph/Chart)
Table 4. Global Wave Energy International Patents Breakdown (%) by Country: 2013 (includes corresponding Graph/Chart)

2. MARKET TRENDS, ISSUES & DRIVERS

Growing Number of Ocean Energy Projects Worldwide Drives Strong Market Growth
MeyGen to Install a Multi-Turbine Tidal Energy Field in Scotland
OTEC Project on the South Pacific Ocean Obtains Bureau Veritas Approval
Tidal Energy Projects Worldwide
Major Tidal Projects Worldwide: Project Proponent, Technology, Location, Capacity (MW) and Development Stage
Major Wave Energy Projects Worldwide: Project Proponent, Technology, Location, Capacity (MW) and Development Stage
Major FOWT Projects Worldwide: Project Proponent, Technology, Location, Capacity (MW) and Development Stage
Rising Investments in Renewable Energy Sources Benefit Market Expansion

Table 5. Global Investments (US$ Billion) in Renewable Energy by Source: 2005 & 2015 (includes corresponding Graph/Chart)

Superior Attributes of Tidal Energy Attract New Developers, Benefits Market Adoption
Horizontal Axis Turbines Grab Lion’s Share of Tidal Energy Devices
Tidal Energy: Abundant Resources despite Technology Barriers
Despite Dominance of Tidal Energy, Wave Energy Garner Growing Attention and Investments
Ocean Energy Developments, Innovations and Advancements: Spearheading Growth
PLAT-O Driving Down Tidal Energy Costs
bioWAVE: The New Ocean Energy Harnessing Device Deployed off the Australian Coast
THWAT Turbine for Tidal Energy
HiWave: A Novel WEC Technology that Works on the Human Heart Blood Pumping Principle
Xenesys and Saga University to Develop OTEC Technology
Small Islands Provide Big Push for Ocean Thermal Energy Conversion Plants
Surveys to Play a Vital Role in Project Developments
Robust Electric Power Consumption Drives the Need for Alternative Energy Sources

Table 6. Projected Global Demand for Primary Energy (Mtoe) and Electricity (MWh): 2015, 2020, 2025, 2030 & 2035 (includes corresponding Graph/Chart)
Table 7. Global Delivered Energy Consumption (quadrillion Btu) by End-use Sector (2012, 2020, 2025, 2030, and 2035) (includes corresponding Graph/Chart)

Burgeoning Global Population Propels Demand for Electric Power

Table 8. Global Population Estimates (2000-2050) (includes corresponding Graph/Chart)

Key Challenges Hampering Ocean Energy Development
Technology Advancement
Financial Support and Markets
Administrative and Environmental Issues
Environmental Challenges
Administrative Issues
Social Acceptance Impediments
Availability of Grid Close to Projects
Grid Integration

3. CONCEPT OF OCEAN ENERGY

Ocean Energy
Types of Ocean Energy
Marine Renewable Energy
Marine Non-renewable Energies
Ocean Energy Extraction
Mechanical Energy
Thermal Energy
Electricity Conversion Systems
Ocean Thermal Energy Conversion (OTEC)
Wave Energy
Tidal Energy
Evolution of Tidal Power
Methods of Energy Conversion
Tidal Barrage

Table 9. Worldwide Major Locations with Mean Tidal Range >5 Meters (includes corresponding Graph/Chart)

Major Drawbacks of Barrage System
Limited Area
Environmental Hazards
Tidal Streams
Tidal Power and Science
Potential of Tidal Power
Advantages and Disadvantages
Inexhaustible and Highly Reliable
Less Conspicuous
Predictability
Employment Generation
Environmental Concerns
Funding
First-Generation Tidal Power Plants
Drawbacks
Second-Generation or Tidal Current Devices
Advantages
Floating Offshore Wind Turbine (FOWT)
Wave Power
Availability of Wave Energy
Major Resources
Potential of Wave Power
Advantages of Wave Energy
Challenges Faced by Wave Energy Power Facilities
Technology Overview
Oscillating Water Column (OWC)
Point Absorption Devices
Attenuator
Overtopping Devices
Ocean Thermal Energy
Mechanism
State-of-the-Art
Salt Power
Resources

Table 10. Major Resources of Osmotic Energy Worldwide (includes corresponding Graph/Chart)

Technology Development

4. PRODUCT LAUNCHES

Scotrenewables Tidal Power Unveils 2MW SR2000 Tidal Turbine
Kepler Energy Develops Transverse Horizontal Axis Water Turbine (THAWT) Technology
Makai Ocean Engineering Unveils OTEC Power Plant
Alstom Introduces Oceade 18 - 1. 4 MW Turbine

5. RECENT INDUSTRY ACTIVITY

Atlantis Acquires Scottish Tidal Project Assets from ScottishPower Renewables
Tribute Resources Takes Over Stake in Tocardo International
Atlantis’ MeyGen Project Inks Agreement with Lochend Wind Energy
Atlantis Resources Enters into a MoU with SBS Intl
PT AIR and OpenHydro Signs MoU
Carnegie Wave Energy signs a Deal with Energy Made Clean
Verdant Power and Belleville Duggan Renewables to Form Verdant Isles
Carnegie Wave Energy to Develop Biggest Wave Energy Project in the UK
Carnegie Wave Energy to Construct Renewable Energy Microgrid
Carnegie Wave Energy Signs MoU with Lanka Energy Conservation
OpenHydro to Supply Tidal Turbine System for Japan
Atlantis Commences the MeyGen Project
Sotenäs Wave Power Plant Starts Generating Electric Power to Nordic Electricity Grid
KRISO Receives Bureau Veritas Approval for Ocean Thermal Energy Converter Project
Tocardo to Deploy T2 Bi-Directional Turbines in the Minas Passage
Tocardo to Install Eight T2 Turbines at EMEC’s Grid-Connected Tidal Test Site
Carnegie Wave Energy Bags Grant from European Regional Development Fund
US DOE to Offer US$ 40 Million for Wave Energy Test Facility
EIB to Invest €10 Million in AW-Energy
Thane Municipal Corporation to Establish a Tidal Energy Plant
Karnataka Government Strikes a Deal with Tar Kovacs Systems
Carnegie Wave Energy to Rename as Carnegie Clean Energy
Ocean Power Technologies Changes PowerBuoy Device Name to PB3
GE Acquires Alstom’s Power and Grid Businesses
Atlantis Acquires Marine Current Turbines from Siemens
British Columbia and Nova Scotia Enters into a Partnership
SABELLA, and H and WB Asia Pacific Sign Memorandum of Agreement
Alstom Selects Moventas as Sole Gearbox Development Partner
European Marine Energy Centre and FloWave Ocean Energy Enter into Collaboration
WERPO Signs Partnership Agreement with ACEP
Tocardo Tidal Turbines and Huisman Install Tidal Turbines in Eastern Scheldt Storm Surge Barrier
SCHOTTEL HYDRO to Supply Variable Pitch Hub for MeyGen Tidal Energy Project
Swedish Energy Agency Grants €2 Million to Corpower Ocean
Indian Navy to Establish OTEC Project in Andaman and Nicobar Islands
Apple to Invest £1 Million in Irish Wave Energy Project
Seabased Industry Installs First Wave Power Plant in Ghana
NEDO Selects IHI and Toshiba for Tidal Energy Turbine System
Atlantis Receives Approval for MeyGen tidal project in Scotland
Wave Power Renewables Takes Over Oceanlinx Wave Energy Converter Technology
Catapult Takes Over Wave & Tidal Knowledge Network
OpenHydro and Emera Forms Cape Sharp Tidal Joint Venture
Tidal Energy Inks an Agreement with EDF Energy
Atlantis Resources Inks Agreement with Dongfang Electrical Machinery
Atlantis Enters into a Lease with Crown Estate
Atlantis Bags Contract from Energy Technologies Institute
Bosch Rexroth Collaborates with Leading Wave Energy Firms
Marine Current Turbines and Bluewater Energy Services Collaborates to Develop SeaGen F
Atlantis Signs Seabed Sublease with Fundy Ocean Research Center for Energy
Langlee Wave Power Inks Agreement with Tenerife Island for Wave Energy Plants
OpenHydro and Alderney Renewable Energy to form a Joint Venture
Pelamis Goes into Bankruptcy

6. FOCUS ON SELECT PLAYERS

Able Technologies, L. L. C. (USA)
Albatern Ltd. (UK)
Applied Technologies Company, Ltd. (Russia)
AquaGen Technologies (Australia)
Aqua-Magnetics Inc. (USA)
Atargis Energy Corporation (USA)
Atlantis Resources Ltd. (UK)
Marine Current Turbines Ltd. (UK)
BioPower Systems Pty. Ltd. (Australia)
Blue Energy Canada Inc. (Canada)
Carnegie Wave Energy Limited (Australia)
Flumill AS (Norway)
GE Renewable Energy (France)
Minesto AB (Sweden)
Nova Innovation Ltd. (UK)
Ocean Power Technologies Inc. (USA)
Ocean Renewable Power Company, LLC (USA)
Oceanlinx (Australia)
OpenHydro Group Limited (Ireland)
Scotrenewables Tidal Power Ltd. (Scotland)
Tocardo International BV (Netherlands)
Verdant Power, Inc. (USA)

7. GLOBAL MARKET PERSPECTIVE

Table 11. World Recent Past, Current & Future Analysis for Ocean Energy by Geographic Region - US, Canada, Japan, Europe and Rest of World Markets Independently Analyzed with Installed Capacity in Kilowatts for Years 2015 through 2022 (includes corresponding Graph/Chart)
Table 12. World 7-Year Perspective for Ocean Energy by Geographic Region - Percentage Breakdown of Installed Capacity for US, Canada, Japan, Europe and Rest of World Markets for Years 2016 & 2022 (includes corresponding Graph/Chart)
Table 13. World Recent Past, Current & Future Analysis for Wave Energy Technology by Geographic Region - US, Canada, Japan, Europe and Rest of World Markets Independently Analyzed with Installed Capacity in Kilowatts for Years 2015 through 2022 (includes corresponding Graph/Chart)
Table 14. World 7-Year Perspective for Wave Energy Technology by Geographic Region - Percentage Breakdown of Installed Capacity for US, Canada, Japan, Europe and Rest of World Markets for Years 2016 & 2022 (includes corresponding Graph/Chart)
Table 15. World Recent Past, Current & Future Analysis for Other Ocean Energy Technologies by Geographic Region - US, Canada, Japan, Europe and Rest of World Markets Independently Analyzed with Installed Capacity in Kilowatts for Years 2015 through 2022 (includes corresponding Graph/Chart)
Table 16. World 7-Year Perspective for Other Ocean Energy Technologies by Geographic Region - Percentage Breakdown of Installed Capacity for US, Canada, Japan, Europe and Rest of World Markets for Years 2016 & 2022 (includes corresponding Graph/Chart)

III. MARKET

1. THE UNITED STATES

A. Market Analysis
Vast Shoreline and Favorable Regulations Drive Strong Market Growth
Major Wave Energy and FOWT Projects in the US: Project Proponent, Technology, Location, Capacity (MW) and Development Stage
Huge Potential for Power Generation Drive Federal Government Funding in Ocean Energy
Hawaii Powering the US Ocean Energy Market
Wave Energy

Table 17. Potential Wave Energy Available and Recoverable Fraction by State and Region: 2016 (includes corresponding Graph/Chart)

Ocean Thermal Energy
The WETS Location in Hawaii: A Major Testing Location
Product Launches
Strategic Corporate Development
Select Key Players
B. Market Analytics

Table 18. US Recent Past, Current & Future Analysis for Ocean Energy by Technology - Wave and Other Ocean Energy Technologies Markets Independently Analyzed with Installed Capacity in Kilowatts for Years 2015 through 2022 (includes corresponding Graph/Chart)
Table 19. US 7-Year Perspective for Ocean Energy by Technology - Percentage Breakdown of Installed Capacity for Wave and Other Ocean Energy Technologies Markets for Years 2016 & 2022 (includes corresponding Graph/Chart)

2. CANADA

A. Market Analysis
Canada: A Key Proponent of Ocean Energy Worldwide with Significant Market Potential
Provinces with Potential Tidal Stream Energy
Provinces with Potential Wave Energy
Major Marine Research Centers
Major Tidal Stream and Wave Energy Projects in Canada: Project Proponent, Technology, Location, Capacity (MW) and Launch Year
Canada Reinforces its Position in Tidal and Wave Energy Sector
Major Developments in the Canadian Ocean Energy Terrain
Canada to Tap Tidal Power Generation Capacity in Bay of Fundy
Strategic Corporate Developments
Blue Energy Canada Inc. – A Major Canada- Based Company
B. Market Analytics

Table 20. Canadian Recent Past, Current & Future Analysis for Ocean Energy by Technology - Wave and Other Ocean Energy Technologies Markets Independently Analyzed with Installed Capacity in Kilowatts for Years 2015 through 2022 (includes corresponding Graph/Chart)
Table 21. Canadian 7-Year Perspective for Ocean Energy by Technology - Percentage Breakdown of Installed Capacity for Wave and Other Ocean Energy Technologies Markets for Years 2016 & 2022 (includes corresponding Graph/Chart)

3. JAPAN

A. Market Analysis
Government Funding Promotes Tidal Technology Development
Nagasaki to Emerge as Hub for Ocean Energy
Development of Ocean Energy Gains Traction in Japan Following the Natural Disaster
Major Tidal Stream and Wave Energy Projects in Japan: Project Proponent, Technology, Capacity (MW), Location and Development Stage
Major Other Ocean Energy Projects in Japan: Project Proponent, Technology, Location, Capacity (MW) and Development Stage
Strategic Corporate Developments
B. Market Analytics

Table 22. Japanese Recent Past, Current & Future Analysis for Ocean Energy by Technology - Wave and Other Ocean Energy Technologies Markets Independently Analyzed with Installed Capacity in Kilowatts for Years 2015 through 2022 (includes corresponding Graph/Chart)
Table 23. Japanese 7-Year Perspective for Ocean Energy by Technology - Percentage Breakdown of Installed Capacity for Wave and Other Ocean Energy Technologies Markets for Years 2016 & 2022 (includes corresponding Graph/Chart)

4. EUROPE

A. Market Analysis
Myriad Benefits of Ocean Energy Promote Sustainable Energy Development
Mitigates Carbon Emissions and Climate Change
Supports Grid Stability and Lowers Systems Cost
Benefits Associated Sectors
Reduces Dependence on Diesel Generation
Supports Economy
Europe: At the Forefront of Ocean Power Technology Development
European Policy for Ocean Energy
Industry and EU Funds Support Ocean Energy RD&D Efforts
Major Policy Initiatives Aid in Commercialization of Ocean Energy Technologies
EIB to Support Innovative Pioneering Demonstration Projects
B. Market Analytics

Table 24. European Recent Past, Current & Future Analysis for Ocean Energy by Geographic Region - France, UK, Spain, Portugal and Rest of Europe Markets Independently Analyzed with Installed Capacity in Kilowatts for Years 2015 through 2022 (includes corresponding Graph/Chart)
Table 25. European 7-Year Perspective for Ocean Energy by Geographic Region - Percentage Breakdown of Installed Capacity for France, UK, Spain, Portugal and Rest of Europe Markets for Years 2016 & 2022 (includes corresponding Graph/Chart)
Table 26. European Recent Past, Current & Future Analysis for Ocean Energy by Technology - Wave and Other Ocean Energy Technologies Markets Independently Analyzed with Installed Capacity in Kilowatts for Years 2015 through 2022 (includes corresponding Graph/Chart)
Table 27. European 7-Year Perspective for Ocean Energy by Technology - Percentage Breakdown of Installed Capacity for Wave and Other Ocean Energy Technologies Markets for Years 2016 & 2022 (includes corresponding Graph/Chart)

4A. FRANCE

A. Market Analysis
Major Tidal Stream and Wave Energy Projects in France: Project Proponent, Technology, Location, and Capacity (MW)
France Announces Major Plans to Harness Ocean Energy
French Government Supports Tidal Energy Projects
Product Launch
Strategic Corporate Developments
GE Renewable Energy – A Major France- Based Company
B. Market Analytics

Table 28. French Recent Past, Current & Future Analysis for Ocean Energy by Technology - Wave and Other Ocean Energy Technologies Markets Independently Analyzed with Installed Capacity in Kilowatts for Years 2015 through 2022 (includes corresponding Graph/Chart)
Table 29. French 7-Year Perspective for Ocean Energy by Technology - Percentage Breakdown of Installed Capacity for Wave and Other Ocean Energy Technologies Markets for Years 2016 & 2022 (includes corresponding Graph/Chart)

4B. THE UNITED KINGDOM

A. Market Analysis
The UK to Replace France as the Leading Ocean Energy Market in Europe
The UK Scouring Depths of Ocean for Power
Rising Investments in Tidal Energy Projects Benefits Country’s Ocean Energy Sector
Scotts and Irish Collaborate on Ocean Energy
Despite Brexit, British Ocean Energy Market Firmly on Growth Trajectory
Brexit Not Casting Gloom over Committed Investments
Consistent Funding Despite Political Uncertainties
Major Challenges to Surmount for the UK Ocean Energy Market
Commercialization
Reduced Production Costs
Stability and Continuity in Policies
Contracts for Difference
Industry and Government Collaboration: Need of the Hour
Product Launches
Strategic Corporate Developments
Select Key Players
B. Market Analytics

Table 30. UK Recent Past, Current & Future Analysis for Ocean Energy by Technology - Wave and Other Ocean Energy Technologies Markets Independently Analyzed with Installed Capacity in Kilowatts for Years 2015 through 2022 (includes corresponding Graph/Chart)
Table 31. UK 7-Year Perspective for Ocean Energy by Technology - Percentage Breakdown of Installed Capacity for Wave and Other Ocean Energy Technologies Markets for Years 2016 & 2022 (includes corresponding Graph/Chart)

4C. SPAIN

Market Analysis

Table 32. Spanish Recent Past, Current & Future Analysis for Wave Energy with Installed Capacity in Kilowatts for Years 2015 through 2022 (includes corresponding Graph/Chart)

4D. PORTUGAL

Market Analysis

Table 33. Portuguese Recent Past, Current & Future Analysis for Ocean Energy by Technology - Wave and Other Ocean Energy Technologies Markets Independently Analyzed with Installed Capacity in Kilowatts for Years 2015 through 2022 (includes corresponding Graph/Chart)
Table 34. Portuguese 7-Year Perspective for Ocean Energy by Technology - Percentage Breakdown of Installed Capacity for Wave and Other Ocean Energy Technologies Markets for Years 2016 & 2022 (includes corresponding Graph/Chart)

4E. REST OF EUROPE

A. Market Analysis
Netherlands
Tocardo Announces Various Tidal Projects
Norway
Major Tidal and Wave Energy Projects in Norway: Project Proponent, Technology, Capacity (MW) and Development Stage
Strategic Corporate Developments
Select Key Players
B. Market Analytics

Table 35. Rest of Europe Recent Past, Current & Future Analysis for Ocean Energy by Technology - Wave and Other Ocean Energy Technologies Markets Independently Analyzed with Installed Capacity in Kilowatts for Years 2015 through 2022 (includes corresponding Graph/Chart)
Table 36. Rest of Europe 7-Year Perspective for Ocean Energy by Technology - Percentage Breakdown of Installed Capacity for Wave and Other Ocean Energy Technologies Markets for Years 2016 & 2022 (includes corresponding Graph/Chart)

5. REST OF WORLD

A. Market Analysis
Asia-Pacific
Tidal Power Closing Gap with Solar and Wind Energy
Pacific Islands to Ride on Ocean Wave Energy
Vast Potential in the Pacific Waters
Slow Rate of Technological Advancements Hampering Progress
Many Challenges to Surmount Before Success
British Firms Keen to Tap Rich Ocean Energy Potential of Filipino Waters
Select Regional Markets
Australia

Table 37. Power Generation from Ocean Energy Plants in Australia: Breakdown of Investment, and Operation & Maintenance Costs for the Years 2015, 2020, 2030, 2040 & 2050 (includes corresponding Graph/Chart)

Major Ocean Energy Projects in Australia: Project Proponent, Description, Location, and Development Stage
China
Major Ocean Energy Projects in China: Project Proponent, Location, Capacity (MW) and Year of Operation
Technology Advancements in Tidal Power Harnessing
India
Indonesia
Major Ocean Energy Projects in Indonesia: Project Proponent, Technology, Capacity (MW), and Location
South Korea
Major Wave and Tidal Energy Projects in South Korea: Project Proponent, Technology, Capacity (MW) and Project Period
Major OTEC, Salinity Gradient & Other Ocean Energy R&D Projects in South Korea: Project Proponent, Technology, and Project Period
Philippines
Major Ocean Energy Projects in the Philippines: Project Proponent, Technology, Capacity (MW) and Location
Strategic Corporate Developments
Select Key Players
B. Market Analytics

Table 38. Rest of World Recent Past, Current & Future Analysis for Ocean Energy by Technology - Wave and Other Ocean Energy Technologies Markets Independently Analyzed with Installed Capacity in Kilowatts for Years 2015 through 2022 (includes corresponding Graph/Chart)
Table 39. Rest of World 7-Year Perspective for Ocean Energy by Technology - Percentage Breakdown of Installed Capacity for Wave and Other Ocean Energy Technologies Markets for Years 2016 & 2022 (includes corresponding Graph/Chart)

IV. COMPETITIVE LANDSCAPE

Total Companies Profiled:
The United States (10)
Canada (4)
Europe (39)
  France (2)
  Germany (2)
  The United Kingdom (17)
  Spain (1)
  Rest of Europe (17)
Asia-Pacific (Excluding Japan) (7)
Middle-East (1)
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