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Wave Energy Converter Market worth $28 Million by 2030

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Wave Energy Converter Market worth $28 Million by 2030

September 24
02:28 2022
Wave Energy Converter Market worth $28 Million by 2030
The global wave energy converter market is estimated to be valued at USD 20 million in 2022 and is projected to reach USD 28 million by 2030 growing at a CAGR of 4.3% during the forecast period.

The global Wave Energy Converter Market is projected to grow from USD 20 million in 2022 to USD 28 million by 2030, at a CAGR of 4.3% according to a new report by MarketsandMarkets™. The Wave Energy Converter Market has promising growth potential due to the rising global energy demand, increasing demand to maximize the energy production from renewable and green energy sources.

The oscillating water column segment is expected to dominate the Wave Energy Converter Market, by technology, during the forecast period.

The oscillating water column segment holds the largest share of the Wave Energy Converter Market. The high market share can be attributed to the characteristics of the technology which is its high efficiency and ease of installation.

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The offshore segment is expected to be the fastest growing Wave Energy Converter Market, by location, during the forecast period.

The Wave Energy Converter Market, by location, is divided into shoreline, nearshore and offshore, wherein the offshore segment accounts for the largest share. The offshore segment is also expected to grow the fastest during the forecast period, owing to the vast installations of wave energy converters happening in various countries near shore for research and development purposes. The installations are mostly happening in the European region.

The European region is the fastest growing Wave Energy Converter Market

In this report, the Wave Energy Converter Market has been analyzed for four regions, namely, North America, Europe, Asia Pacific, and ROW. Europe is a significant contributor to the Wave Energy Converter Market in the current scenario owing to the rapid industrialization of various end-use industries in countries such as UK, Portugal, Denmark and France.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Wave Energy Converter Market.

Some of the key players include Ocean Power Technologies (US), Eco Wave Power (Israel), CorPower Ocean (Sweden), Wello Oy (Finland) and CalWave (US). The leading players are adopting various strategies to increase their share in the Wave Energy Converter Market.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Email: [email protected]

Content Source: https://www.marketsandmarkets.com/PressReleases/wave-energy.asp

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Contact Person: Mr. Aashish Mehra
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Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/wave-energy-market-217091216.html