Transparency Market Research has released a new market report which forecasts that the value of the global tidal and wave energy market will reach $11.3 billion in 2024.
The report ‘ Wave and Tidal Energy Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016-2024’ has valued the global wave and tidal energy market at $497.7 million in 2014.
According to the report, the market is expected to expand at Compound Annual Growth Rate (CAGR) of 23.2% from 2016 to 2024.
The report provides an in-depth analysis of the market size of wave and tidal power in terms of installed capacity and investments in the sector for adding capacity, according to Transparency Market Research.
It provides detailed analysis, historical data, and statistically refined forecast for wave and tidal energy plants, with the country wise markets for the sectors provided individually.
Also, the report includes upcoming project details for both wave and tidal energy providing an idea of country wise projects planned and the timeline by which the industry would achieve commercial deployment of its technologies, Transparency Market Research states.