Waves/Tidal Energy Market to hit US$ 1,850.90 million by 2032 | Industry Intelligence Report By DataM Intelligence

Waves & Tidal Energy Market Size, Trends & Forecast

AUSTIN, TX, UNITED STATES, November 21, 2025 /EINPresswire.com/ -- Market Size and Growth

According to DataM Intelligence, the global waves and tidal energy market was valued at US$ 983.11 million in 2024 and is projected to reach US$ 1,850.90 million by 2032, expanding at a CAGR of 8.23% between 2025 and 2032. Global decarbonization targets and marine infrastructure investments drive adoption.

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Trends and Strategic Insights

✦ Europe leads the waves and tidal energy market, accounting for 46.23% of total revenue in 2024.

✦ By application, the power generation segment is expected to remain the largest contributor to the waves and tidal energy market.

Industry Developments

1. In 2025, the Port of Los Angeles launched the U.S.’s first onshore wave energy pilot with Eco Wave Power, using dock-mounted paddles to generate electricity an innovation that could power up to 60,000 homes if deployed across the port.

2. Europe maintained its global lead in 2025, driven by major investments from the UK, Germany, and Italy. The EU is targeting 100 MW by 2025 and 1 GW by 2030, supported by incentives such as feed-in tariffs and grants. France’s NH1 tidal project secured €31.3M, while the UK accounts for ~40% of global marine energy projects. Sweden is advancing AI-enhanced wave systems through national innovation programs.

3. In 2025, the Philippines committed €20M (USD 21.5M) via the Mitigation Action Facility to accelerate tidal stream energy hybrid systems, backed by concessional loans and CAPEX grants.

4. The UK’s DEFRA released the revised Marine Strategy Part Three in 2025, reinforcing sustainable wave and tidal energy development while safeguarding marine ecosystems.

5. CorPower Ocean expanded globally in 2025 through joint ventures with Maersk Supply Service and Aalborg CSP, advancing deployment of its C4 wave converter alongside utility partnerships in Portugal and Sweden.

6. In 2023, Ocean Energy Europe welcomed France’s €65M (USD 76M) funding commitment and revenue support for the FloWatt tidal pilot farm, one of Europe’s landmark marine energy initiatives.

Growth Drivers

• Over USD 9.5 billion invested in ocean energy R&D since 2020.
• Countries targeting net-zero by 2050 accelerating tidal turbine deployments.
• Wave energy converters achieving 30% efficiency improvement.
• Coastal grid modernization enabling large-scale integration.

Segmentation

By Technology

Tidal Stream: 50%

Oscillating Water Column: 22%

Wave Energy Converters: 18%

Others: 10%

By Application

Utilities, Desalination, Marine Platforms, Remote Islands

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Regional Highlights

Europe leads with 55% share UK, Scotland, Portugal driving projects.
Asia-Pacific fastest growing (CAGR 31%).

Key Companies

Orbital Marine Power | Eco Wave Power | SIMEC Atlantis | Minesto | Carnegie Clean Energy || Ocean Power Technologies || Aquanet Power, and Andritz

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Conclusion

The global waves and tidal energy market is entering a transformative growth phase, driven by rising investments, supportive government policies, and accelerating technological innovation. With Europe leading deployment and emerging economies increasingly adopting hybrid marine systems, the sector is rapidly transitioning from pilot projects to scalable commercial solutions. As countries push for reliable, carbon-free baseload power, wave and tidal technologies are poised to become a crucial pillar of the future renewable energy mix. Continued collaboration among utilities, technology developers, and regulatory bodies will be essential to unlock full market potential and deliver resilient clean-energy infrastructure worldwide.

Marine renewables are emerging as a mainstream clean energy solution as countries diversify beyond solar and wind.

Related Reports

Wave Energy Market

Power Generation Market

Sai Kiran
DataM Intelligence 4market Research LLP
+1 877-441-4866
sai.k@datamintelligence.com
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