About Offshore Hydropower
A technology that uses hydroelectric power to tap the oceans massive energy reserve is called the Offshore Hydropower. It uses tidal currents or the power of waves to generate electricity from seawater. The increasing focus towards the greenhouse emissions has increased the demand for the ecofriendly power generation methods. As offshore hydropower does not require any extra construction such as a dam or reservoir; it is anticipated to be the most favored technology for power generation in coming years.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.3% |
In Offshore Hydropower Market, it has been observed that most of the companies are upgrading or introducing innovative products/services. They rely on strategies such as mergers & acquisitions, product development, geographical expansion, technological innovation and sourcing strategies to enhance their market share. Analyst at AMA Research estimates that United States, United Kingdom, and Chinese Manufacturers will contribute the maximum growth to Global Offshore Hydropower market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Iberdrola (Spain), First Solar, Inc. (United States), Bronzeoak Philippines, Inc. (Philippines), Vattenfall (Sweden), Calpine Corporation (United States), NextEra Energy, Inc. (United States), Siemens AG (Germany), Alstom SA (France), China Yangtze Power Co., Ltd. (China), RusHydro (Russia), LDK Solar Co. Ltd. (China), Suzlon Energy Ltd. (India), E.ON UK (United Kingdom) and HydroChina International Engineering Co., Ltd.(China) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Offshore Hydropower market by Type (Small Plants (Pico-hydro and Micro Plants) and Large Plants), Application (Power Generation and Impoundment) and Region.
On the basis of geography, the market of Offshore Hydropower has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Power Capacity, the sub-segment i.e. Upto 30 KW will boost the Offshore Hydropower market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Installation of Offshore Hydropower Plants
Market Growth Drivers:
Increasing Demand for Clean Energy and Rising Investments
Challenges:
Large Number of Permits Requirement for Construction
Restraints:
Effect on Environment and Wild Life and High Cost of Installation
Opportunities:
Advantages of Offshore Pumped Hydropower Storage and Growing Worldwide Demand for Distributed Electricity
Market Leaders and their expansionary development strategies
On December 12, 2023, Oceanwind and Simply Blue Energy announced a joint venture to develop a 1GW floating offshore wind farm in the Celtic Sea, off the coast of Wales. This partnership aims to leverage Oceanwind's experience in project development and Simply Blue's expertise in marine renewable energy.
On October 26, 2023, Minesto launched its "Deep Green" tidal energy system, designed for operation in deeper waters with stronger currents. This technology has the potential to unlock vast untapped resources for tidal energy generation.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Offshore Hydropower Providers, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.