Wave Energy Market is estimated to be US$ 252.42 billion by 2030 with a CAGR of 19.3% during the forecast period
Increasing adoption of renewable energy generation and other applications is helping manufacturers to invest more in R&D leading to the growth in wave energy market. This factor is boosting the growth for wave energy market. The wave energy market accounted for US$ 44.2 billion in 2020 and is estimated to be US$ 252.42 billion by 2030 and is anticipated to register a CAGR of 19.3%. The report. " Global Wave Energy Market, By Technology (Oscillating Water Column, Oscillating Body Converters, and Overtopping Converters), By Location (Onshore, Near shore, and Offshore), By Application (Desalination, Power Generation, and Environmental Protection), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030” . Key Highlights: In October 2019, SIMEC Atlantis Energy Limited declared that the company has acquired the Green Highland Renewables project development, asset management, and operation and m