The increased adoption of power generation from renewable energy is one of the major trends of the Global Tidal Energy market, according to Global Tidal Energy Market 2014-2018 report.
Increase in environment-friendly technology adoptions for power generation has increased the growth of the market for tidal energy.
According to the report, one of the main drivers of the Global Tidal Energy market is the improvement in global power demand. Global increase in energy demand led to the higher use of tidal energy by several governments and vendors to reduce their fossil fuel dependency. This in turn is expected to boost the market.
Further, the report describes the large capital cost involved in the generation of electricity through tidal energy. If the power plant is located near the seabed, high capital cost is involved and this increases the construction cost significantly.
This research identifies BioPower Systems, Blue Energy Canada, OpenHydro Group, Pulse Tidal and Verdant Power as the key players in the industry.
Other Prominent Vendors are Alstom, Atlantis Resources, BAUER Renewables, Flumill, Minesto, Ocean Renewable Power, Scotrenewables Tidal Power, Tenax Energy, Tidal Electric and Tidal Energy.
Sabeena Wahid
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