Wave Power Generation Equipment Market Research:CAGR of 21.2% during the forecast period

Wave energy (or wave power) is the transport and capture of energy by ocean surface waves. The energy captured is then used for all different kinds of useful work, including electricity generation, water desalination, and pumping of water. Wave energy is also a type of renewable energy and is the largest estimated global resource form of ocean energy.

The amount of power available in the movement of ocean waves has inspired many engineers to develop machines and devices to capture and use this free oceanic power. In certain parts of the world’s oceans the amount of wave energy is vast, so the development of wave energy devices to exploit the the inherent oscillatory nature of ocean waves for electrical energy generation.

Waves have the potential to provide a completely sustainable source of energy, which can be captured and converted into electricity by wave power generation machines. These machines have been developed to extract energy from shoreline out to the deeper waters offshore including: attenuator, point absorber, oscillating wave surge converter, oscillating water column, overtopping/terminator device, submerged pressure differential, bulge wave etc.

According to the new market research report “Global Wave Power Generation Equipment Market Report 2023-2029”, published by QYResearch, the global Wave Power Generation Equipment market size is projected to reach USD 0.14 billion by 2029, at a CAGR of 21.2% during the forecast period.

• Global Wave Power Generation Equipment MarketSize(US$ Million), 2018-2029

Above data is based on report from QYResearch: Global Wave Power Generation Equipment Market Report 2023-2029 (published in 2023). If you need the latest data, plaese contact QYResearch..

• Global Wave Power Generation Equipment Top12Players Ranking and Market Share (Ranking is based on the revenue of 2022, continually updated)

Above data is based on report from QYResearch: Global Wave Power Generation Equipment Market Report 2023-2029 (published in 2023). If you need the latest data, plaese contact QYResearch.

The global key manufacturers of Wave Power Generation Equipment include AW-Energy, C-Power, Hann-Ocean, AWS Ocean Energy, Oscilla Power, Bombora Wave Power, Wello, Mocean Energy, Ocean Power Technologies (OPT), Wave Swell Energy, etc. In 2021, the global top five players had a share approximately 63.0% in terms of revenue.

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