London, 24 September 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Global Tidal Energy Market 2014-2018, which is expected to grow at a CAGR of 24 percent during the forecast period of 2013-2018.
Tidal energy is a form of hydropower that converts the energy from tides into electricity or other useful forms of power. It is run by an underwater turbine that rotates and converts mechanical power to electrical power. The electrical power produced is sent to the shore with the help of a generator.
“Currently, companies are targeting good profit margins and this is likely to increase with the increase in capacity and reliability of tidal plants, giving vendors the opportunity to secure long-term contracts and ensure high profitability,” says Faisal Ghaus, Vice President of TechNavio.
Key Market Drivers
- Upsurge in Global Demand for Energy
- Increase in Small-scale Demonstration Projects
- Rise in Profit Margin because of High Entry Barriers
- Increased Advances in Technology
Key Market Trends
- Increased Renewable Energy Consumption
- Increased Investment
- Increase in Employment Opportunities
Key Market Vendors
- BioPower Systems
- Blue Energy Canada Inc.
- OpenHydro Group Ltd
- Pulse Tidal
- Verdant Power Inc.
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
