Tidal energy is a
form of hydropower generation, which converts the energy from tides into
electricity. A typical tidal power plant is run by an underwater turbine that
rotates and converts mechanical power to electrical power. The electrical power
thus produced is sent to the shore with the help of a generator. The commercial
deployment of tidal power projects is in its nascent stage, although it has the
potential for future power generation.
Analysts forecast
the Global Tidal
Energy market to grow at a CAGR
of 24.0 percent over the period 2013-2018.
The report
recognizes the following companies as the key players in the Global Tidal
Energy Market 2014-2018: BioPower Systems, Blue Energy Canada Inc., OpenHydro
Group Ltd, Pulse Tidal and Verdant Power Inc.
Other Prominent
Vendors in the market are: Alstom, Atlantis Resources, BAUER Renewables,
Flumill, Minesto, Ocean Renewable Power, Scotrenewables Tidal Power, Tenax
Energy, Tidal Electric and Tidal Energy.
The increased
adoption of power generation from renewable energy is one of the major trends
of the Global Tidal Energy market. Increase in adoption of environment-friendly
technology for power generation significantly increases the growth of the
market for tidal energy.
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Covered in this Report
Global Tidal Energy
Market 2014-2018, has been prepared based on an in-depth market analysis with
inputs from industry experts. The report covers the Americas, and the EMEA and
APAC regions; it also covers the Global Tidal Energy market landscape and its
growth prospects in the coming years. The report also includes a discussion of
the key vendors operating in this market.
According to the
report, one of the main drivers of the Global Tidal Energy market is the
upsurge in global power demand. The increase in energy demand worldwide led to
the elevated use of tidal energy by several governments and vendors to reduce
their dependency on fossil fuels. This in turn is expected to boost the market
during the forecast period.
Further, the report
states that the large capital cost involved in the generation of electricity
through tidal energy. The location of the power plant, for example, a location
near the seabed, involves high capital cost and this increases the construction
cost significantly.
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