Global Wave and Tidal Energy Market Research Report-Forecast to 2023 Market Highlights The ocean energy conversion to electricity could play an important role in meeting the rising global energy demand, mitigating climate change, diversifying global energy supply and boosting energy industry economic activity. Wave energy is generated when the wind blows over the ocean’s surface, which itself is a function of temperature and pressure differences across the globe caused by the distribution of solar energy from the Sun. Wave energy carries both kinetic and gravitational potential energy, the level of which is a function of both the height and period of the wave. Harnessing this energy using a wave energy convertor (WEC) can in turn generate electricity that can be supplied to remote coastal regions that cannot be connected to the grid. On the other hand, oceanic tides are the function of the motion of the moon and sun relative to the earth. These gravitational forces in combination with the rotation of the earth on its axis cause periodic movements of the oceans and seas. The energy potential of tidal currents is typically located in areas with the greatest tidal range. The market has been analyzed based on types, and by regions. On the basis of type, the global tidal and wave energy market has been segmented as wave and tidal energy. The global tidal energy is further segmented into tidal stream energy and tidal range energy. The tidal energy is a mature form of energy and requires construction of tidal barrages. Key Players: The major players operating in wave and tidal energy market are Pelamis Wave Power. (UK), Tenax Energy (Australia), Atlantis Resources Ltd (UK), Aquamarine Power Ltd. (UK), Carnegie Wave Energy Limited (Australia), Ocean Power Technologies Inc., (U.S.), Marine Current Turbines Ltd, (U.K), Ocean Renewable Power CO Llc (U.S.)
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