Wave and Tidal Energy Market Size, Share, Growth Analysis, By Technology(Wave energy converters (WECs) and tidal stream generators (TSGs)), By End user(commercial and residential), By Region - Industry Forecast 2025-2032

Global Wave and Tidal Energy Market features a highly competitive landscape with several key players striving to establish their dominance in the industry. Some of the prominent players in the market are at the forefront of innovation and technological advancements in wave and tidal energy generation. These companies focus on research and development activities to improve the efficiency and reliability of their energy conversion systems. Additionally, collaborations, partnerships, and strategic alliances are common strategies employed by market players to enhance their market presence and expand their geographical reach. With increasing government support and investments in renewable energy projects, the competition in the wave and tidal energy market is expected to intensify further as companies vie for market share and strive to position themselves as leaders in this rapidly growing sector.

Top Player’s Company Profile

• Ocean Power Technologies (US)

• Atlantis Resources Ltd (UK)

• Pelamis Wave Power (UK)

• Marine Current Turbines Ltd (UK)

• Aquamarine Power Ltd (UK)

• Carnegie Clean Energy Limited (Australia)

• SIMEC Atlantis Energy Limited (UK)

• Wello Oy (Finland)

• AW-Energy Oy (Finland)

• Orbital Marine Power Ltd (UK)

• CorPower Ocean AB (Sweden)

• Seabased AB (Sweden)

• Minesto AB (Sweden)

• Sustainable Marine Energy Ltd (UK)

• Oscilla Power, Inc. (US)

• Verdant Power, Inc. (US)

• Ocean Renewable Power Company LLC (US)

• Columbia Power Technologies, Inc. (US)

• OpenHydro Group Limited (Ireland)

• Eco Wave Power Ltd (Israel)

Recent Development

• In February 2024, Shell added its weight to the Renewables for Subsea Power (RSP) demonstrator project, which is located five kilometres east of Orkney's main island and uses wave energy converter (WEC) technology fitted with an underwater battery. 
• In January 2023, HydroWing opened a new office at the M-SParc science park on the island of Anglesey in North Wales to support development of its Morlais tidal Stream Energy project. 
• In January 2024, onshore wave energy technology company Eco Wave Power Global AB said that its EWP-EDF One pilot project in the Port of Jaffa, Israel has started feeding power into the country’s grid.