The wave and tidal energy market is projected to grow to $1.85 billion by 2032, with ocean-based renewable power expected to move beyond pilot installations and enter early commercial deployment by 2031, according to a report by market research firm DataM Intelligence.
The global wave and tidal energy market reached $983.11 million in 2024 and will be expanding at a CAGR of 8.23% during the forecast period 2025–2032 to reach the expected growth to $1,850.90 million by 2032, representing a reflection of a decisive shift in global renewable energy strategies, where predictability, grid stability, and baseload capability are becoming as critical as decarbonization.