Wave and Tidal Energy Market 2019
Wave power is the capture of energy of wind waves to do useful work – for example, electricity generation , water desalination , or pumping water. Tidal power, also called tidal energy, is a form of hydropower that converts the energy obtained from tides into useful forms of power, mainly electricity.
The focus on developing new renewable energy resources has increased so as to reduce carbon emissions and to provide constant power to the ever growing power demand.
This report focuses on the global Wave and Tidal Energy status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Wave and Tidal Energy development in United States, Europe and China.
The key players covered in this study
Atlantis Resources Corp
AWS Ocean Energy
Andritz Hydro Hammerfest
Kepler Energy Limited
Ocean Power Technologies
Pelamis Wave Power Limited
Wave Star Energy A/S
Ocean Renewable Power Company
Carnegie Clean Energy Limited
CorPower Ocean AB
ScottishPower Renewables Limited
Tocardo International BV
Aquamarine Power Limited
Mako Tidal Turbines
Nova Innovation Limited
Market segment by Type, the product can be split into
Market segment by Application, split into
Major part energy & power industry has survived, especially after a few tough years with weak demand and low prices in past decades. At that time, it had been difficult to make strategic decisions and plan for the future of energy & power industry. It was only in the present decade when the industry began to emerge from its upheaval.
Energy & power industry is considered to the brimming sector in the world in terms of dollar value and is also termed to be a global powerhouse that involves hundreds of thousands of workers worldwide. They unite to generate hundreds of billions of dollars globally each year. The companies dedicated to energy & power industry are vital and contribute a significant amount towards national GDP. The energy & power industry works under three key areas, such as upstream, midstream, and downstream.
Upstream in the energy & power industry involves a search for underwater and underground natural gas fields or crude oil fields. The process includes drilling of exploration wells and drilling into established wells to recover oil and gas. The midstream necessitates the transportation, storage, and processing of oil and gas. As, at this point, these resources are recovered, it is then transported to a refinery, which is in an entirely different terrestrial region as compared to the oil and gas reserves. Transportation is done, including tanker ships to pipelines and trucking fleets. Whereas, the third one, downstream entails filtering of the raw materials obtained in the upstream phase. This includes refining of crude oil and purifying natural gas. The marketing and commercial distribution of these oil & gas to consumers and end users are practiced in various forms which include natural gas, diesel oil, petrol, gasoline, lubricants, kerosene, jet fuel, asphalt, heating oil, LPG (liquefied petroleum gas) and other types of petrochemicals.
The world’s dependence on energy & power industry is contributing to increasing global economies. The industry continues to wield incredible influence in international economies as well with the impact of globalization and technological changes.
In recent years, the diminution of conventional gas sources has eventually resulted in a diverse change from conventional gas to unconventional sources. Such a scenario has led towards the brim of challenges in demand for oil & gas resources. Hereby, with such a diverse shift towards unconventional gas sources, the energy & power industry has reduced the dependency on conventional gas sources as well as reduced carbon footprint.
The latest trend towards renewable and alternative energy and power is another threat to the traditional companies dedicated to the exploration of energy & power. The new generation of energy & power industry has affected conventional one with the rise in pro-eco legislation and governmental pressure to prohibit carbon emission due to environmental hazards. On the other side, the generation of power from solar power systems and offshore wind is becoming increasingly cheaper and cost-effective. An inclusive number of percentages of newly commissioned renewable energy will get less expensive than the existing oil & natural gas sources.
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