Wedoany.com News, recently, the market research firm DataM Intelligence released a report predicting that the global wave and tidal energy market will grow to $1.85 billion by 2032, entering the early commercial deployment phase around 2031.

The report shows that the market size in 2024 was $983 million, with a projected compound annual growth rate (CAGR) of 8.23% from 2025 to 2032. Currently, tidal energy dominates (accounting for 58% in 2024) due to its predictable output and higher capacity factor, while wave energy is expected to gain stronger commercial appeal after 2028 as technologies mature. Market growth is primarily driven by three structural realities: grid demand for predictable baseload power, coastal nations seeking energy security, and the transferable application of existing offshore wind infrastructure and expertise. Regionally, Europe (especially the UK, France, Norway, Portugal) leads in technology and installed capacity; the Asia-Pacific region (such as Japan, South Korea), due to strong coastal electricity demand, is expected to have the fastest growth after 2027; the United States, leveraging its coastline, R&D strength, and federal policy support, has become a key market, accounting for 38% of global value in 2024 and projected to account for nearly 40% of global deployments by 2032.