Summary

Tidal Energy Market Size
The global tidal energy market size was valued at $1.44 billion in 2024 and is projected to reach $4.74 billion by 2030, growing at a CAGR of 22.0% during the forecast period.

Tidal Energy Market Overview
Tidal energy is a form of renewable energy generated by harnessing the natural rise and fall of ocean tides. This energy source relies on the gravitational pull of the moon and the sun, combined with the Earth's rotation, to create the movement of water. As the tides ebb and flow, this movement is captured using various technologies, such as tidal stream generators, tidal barrages, and tidal lagoons. Tidal stream generators function much like underwater wind turbines, using the kinetic energy of moving water to produce electricity. Tidal barrages, on the other hand, are dams built across the mouth of a bay or estuary that capture water during high tide and release it through turbines during low tide. Tidal lagoons operate on a similar principle but are constructed as enclosed areas within a larger body of water. The predictability and consistency of tidal cycles make tidal energy a reliable and sustainable source of power, contributing to the reduction of greenhouse gas emissions and the diversification of the energy mix.

Tidal Energy Market Dynamics
• The tidal energy market is expected to witness significant growth in the future due to growing demand for renewable energy sources, technological advancements in tidal energy systems, and the government incentives and subsidies for clean energy.
• Additionally, the reduction in greenhouse gas emissions and increasing investments in renewable energy projects are the prominent factors driving the growth of the tidal energy market.
• However, the high initial capital costs for tidal energy infrastructure and limited suitable locations for tidal energy installations are restraining the market growth.
• On the contrary, the integration with hybrid renewable energy systems and development of more efficient and cost-effective tidal technologies are creating opportunities for market growth.

By Power Generation Method, the Tidal Barrages Segment is projected to be the Largest Segment in the Tidal Energy Market
The tidal barrages segment emerges as the largest segment in the tidal energy market during the forecast period due to their ability to generate a significant and predictable amount of electricity by harnessing the immense power of tidal movements. Tidal barrages, which function similarly to dams, are constructed across estuaries or bays and use the potential energy created by the difference in water levels between high and low tides. This method provides a reliable and consistent energy source, making it an attractive option for regions with strong tidal ranges. Additionally, tidal barrages can serve dual purposes, such as flood protection and water management, enhancing their appeal. Advances in engineering and technology have also made tidal barrages more efficient and cost-effective, further fueling demand. The environmental benefits of reducing greenhouse gas emissions and contributing to energy security add to the growing interest in this segment, as governments and organizations seek sustainable solutions to meet their energy needs.

By Geography, Europe Region Holds the Dominant Position in the Market Revenue
Europe region maintains a commanding lead in market revenue due to the region's extensive coastline and high tidal ranges, particularly in countries like the United Kingdom and France, which provide ideal conditions for tidal energy generation. European governments have also been proactive in supporting renewable energy through favorable policies, subsidies, and targets to reduce carbon emissions, driving the adoption of tidal energy. Additionally, Europe has a strong tradition of innovation and investment in renewable energy technologies, with numerous research and development initiatives focused on improving the efficiency and cost-effectiveness of tidal energy systems. The EU's commitment to diversifying its energy sources to enhance energy security and reduce dependence on fossil fuels further bolsters the demand. Furthermore, the potential for job creation and economic development in coastal regions adds to the attractiveness of tidal energy projects in Europe.

Key Target Audience:
• Government and Regulatory Bodies
• Renewable Energy Companies and Developers
• Investors and Financial Institutions
• Environmental Organizations and Advocacy Groups
• Technology Providers and Equipment Manufacturers
• Research and Academic Institutions

List of the Key Players Profiled in the Report Includes:
• Alstom
• Envirotek Pte Ltd
• Green Power Solutions
• Minesto
• Naval Energies
• Nova Innovation
• SBS Intl Ltd
• SIMEC Atlantis Energy
• Sustainable Marine Energy
• Tidal Bridge B.V
• Tidal Energy Ltd
• Verdant Power

Recent Developments:
• In June 2024, Minesto and the pioneering Faroese utility company SEV renewed and updated their power purchase agreement (PPA). The new agreement, which extends the PPA for an additional two years after approval from the Faroe Islands' Energy Agency (Orka), includes an adjusted electricity price level. This adjustment reflects the total system value of tidal energy within the future 100% renewable energy mix for the Faroe Islands. The original PPA, initially signed in 2020, has been modified to better represent the increased significance and value of tidal energy in achieving the region's renewable energy goals.

Market Segmentation:
The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Market by, Foundation Type:
• Gravity Base
• Monopile
• Semi-Submersible
• Other Foundation Types

Market by, Power Generation Method:
• Tidal Barrages
• Floating Tidal Power Platforms
• Tidal Stream Generation Plants
• Dynamic Tidal Power Plants

Market by, Installation Depth:
• Shallow Waters
• Transitional Waters
• Deep Waters

Market by, Energy Converter Type:
• Horizontal Axis Turbines
• Vertical Axis Turbines
• Tidal Kites

Market by, Geography:
The tidal energy market report also analyzes the major geographic regions and countries of the market. The regions and countries covered in the study include:
• North America (The United States, Canada, Mexico), Market Estimates, Forecast & Opportunity Analysis
• Europe (Germany, France, UK, Italy, Spain, Rest of Europe), Market Estimates, Forecast & Opportunity Analysis
• Asia Pacific (China, Japan, India, South Korea, Australia, New Zealand, Rest of Asia Pacific), Market Estimates, Forecast & Opportunity Analysis
• South America (Brazil, Argentina, Chile, Rest of South America), Market Estimates, Forecast & Opportunity Analysis
• Middle East & Africa (UAE, Saudi Arabia, Qatar, Iran, South Africa, Rest of Middle East & Africa), Market Estimates, Forecast & Opportunity Analysis

Scope of the Report:
The report “Global Tidal Energy Market: Industry Analysis, Opportunities and Forecast up to 2030” by Diligence Insights provides a detailed analysis of the present market and future outlook with market estimates and forecasts for all specified segments, encompassing both global and regional perspectives as outlined within the research framework. The study includes historical market data for the years 2022, 2023 and offers revenue estimations for 2024, and project forecasts spanning from 2025 to 2030. It places significant emphasis on the examination of market trends, key industry participants, supply chain developments, technological advancements, pivotal milestones, and prospective strategies. Comprehensive market assessments are carried out across major geographic regions, including North America, Europe, Asia Pacific, South America, and Middle East & Africa. As such, this report constitutes a valuable resource for current industry stakeholders, newcomers to the field, and potential investors.

The study offers an in-depth market analysis, drawing insights from industry experts across the value chain. A special focus has been made on 25 countries, including the United States, Canada, Mexico, the United Kingdom, Germany, Spain, France, Italy, China, Brazil, Saudi Arabia, and South Africa, among others. The market data has been meticulously collected through extensive primary interviews and comprehensive secondary research. Market size determination is rooted in the revenue generated from sales across all the specified segments and sub-segments as defined within the research scope. The market sizing analysis includes both top-down and bottom-up approaches for data validation and accuracy measures.

The report offers insights into the following aspects:
• Analysis of major market trends, factors driving, restraining, threatening, and providing opportunities for the market.
• Analysis of the market structure by identifying various segments and sub-segments of the market.
• Understand the revenue forecast of the market for North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
• Analysis of opportunities by identification of high-growth segments/revenue pockets in the market.
• Understand major player profiles in the market and analyze their business strategies.
• Understand competitive developments such as joint ventures, alliances, mergers and acquisitions, and new product launches in the market.

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Table of Contents

1 Market Introduction
1.1 Market Definition
1.2 Research Scope and Segmentation
1.3 Stakeholders
1.4 List of Abbreviations

2 Executive Summary

3 Research Methodology
3.1 Identification of Data
3.2 Data Analysis
3.3 Verification
3.4 Data Sources
3.5 Assumptions

4 Market Dynamics
4.1 Market Drivers
4.2 Market Restraints
4.3 Market Opportunities
4.4 Market Challenges

5 Porter's Five Force Analysis
5.1 Bargaining Power of Suppliers
5.2 Bargaining Power of Buyers
5.3 Threat of New Entrants
5.4 Threat of Substitutes
5.5 Competitive Rivalry in the Market

6 Global Tidal Energy Market by, Foundation Type
6.1 Overview
6.2 Gravity Base
6.3 Monopile
6.4 Semi-Submersible
6.5 Other Foundation Types

7 Global Tidal Energy Market by, Power Generation Method
7.1 Overview
7.2 Tidal Barrages
7.3 Floating Tidal Power Platforms
7.4 Tidal Stream Generation Plants
7.5 Dynamic Tidal Power Plants

8 Global Tidal Energy Market by, Installation Depth
8.1 Overview
8.2 Shallow Waters
8.3 Transitional Waters
8.4 Deep Waters

9 Global Tidal Energy Market by, Energy Converter Type
9.1 Overview
9.2 Horizontal Axis Turbines
9.3 Vertical Axis Turbines
9.4 Tidal Kites

10 Global Tidal Energy Market by, Geography
10.1 Overview
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 France
10.3.3 UK
10.3.4 Italy
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.2 Japan
10.4.3 India
10.4.4 South Korea
10.4.5 Australia
10.4.6 New Zealand
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Brazil
10.5.2 Argentina
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 UAE
10.6.2 Saudi Arabia
10.6.3 Qatar
10.6.4 Iran
10.6.5 South Africa
10.6.6 Rest of Middle East & Africa

11 Key Developments

12 Company Profiling
12.1 Alstom
12.1.1 Business Overview
12.1.2 Product/Service Offering
12.1.3 Financial Overview
12.1.4 SWOT Analysis
12.1.5 Key Activities
12.2 Envirotek Pte Ltd
12.3 Green Power Solutions
12.4 Minesto
12.5 Naval Energies
12.6 Nova Innovation
12.7 SBS Intl Ltd
12.8 SIMEC Atlantis Energy
12.9 Sustainable Marine Energy
12.10 Tidal Bridge B.V
12.11 Tidal Energy Ltd
12.12 Verdant Power