Wave-powered Water Pumping Market: Overview
- Wave-powered water pumping offers an economical, sustainable, scalable, and eco-friendly solution for supply of water for a variety of purposes such as desalination of water
- By using wave-powered water pumps, pressurized seawater arriving on shore can be pumped into a desalination facility without the need for grid-tied electricity or costly fossil fuels to run generators
- In wave-powered water pumping, the wave action is intended to activate the pumps that can pump seawater through a series of tubes to water turbines, which eventually drive electric generators located along the shore
- A wave-powered pump comprises an OWC-type (oscillating water column type) wave chamber and a series of specially shaped basins that are stacked on top of one another in such a way that there is a room for water to flow
- On the other hand, wave-powered pumps allow for more efficient energy conversion than the conventional OWC-type pumps, which usually use electrically powered air turbines
- Wave-powered water pumps can also be used for drainage. Currently, drainage is carried out by using the conventional water pumps driven by wind mills or steam, electric engines, or diesel.
Are you a start-up willing to make it big in the business? Grab an exclusive PDF sample of this report
Key Drivers of Global Wave-powered Water Pumping Market
- Growing scarcity of fresh water is driving the installation of wave-powered water pumping systems on an increasingly large scale
- Growing concerns about the environment and rising usage of clean energy substitutes are likely to be key factors driving the global wave-powered water pumping market during the forecast period
- With favorable policies and initiatives, governments across the world have taken a few steps toward promotion of wave-powered water pumping systems. This, in turn, would provide ample opportunities to the global wave-powered water pumping market in the near future.
- The world is witnessing rising need for exploration of sustainable sources of water for both human consumption and economic activities. Wave-powered pumps can be used for desalination of water, especially in areas with only a few sources of freshwater supplies, such as drought-hit countries.
Restraints of Global Wave-powered Water Pumping Market
- A common issue associated with wave energy is that only height of the wave but also period of the wave needs to be considered. This becomes a more complicated issue when continuous pumping of water is required.
- Also, harnessing wave power causes a potentially harmful impact on the marine environment. For example, noise pollution can have a negative impact if not monitored properly.
- In the U.K., Pelamis has developed a mechanical pump that floats on the sea surface
- In March 2018, Tveter Power, a Norway-based company, started trialing a pumping device driven by wave power at an oceanic platform called the PLOCAN test site off Canary Islands. Tveter Power was founded in 2011, with an objective to develop and market renewable energy-driven devices; install and operate desalination plants; and carry out research and development of new technologies based on renewable energy. The first stage of the project was implemented in 2016 and 2017 on the Atlantic coast of Norway, where a preliminary version of the device underwent several resistance trials.
Expanding operations in future? To get the perfect launch ask for a custom report
Middle East & Africa to Hold a Major Share of Global Wave-powered Water Pumping Market
- Based on region, the global wave-powered water pumping market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- North America is expected to be a highly attractive region of the global Wave-powered Water Pumping market during the forecast period
- For example, according to a study conducted by National Renewable Energy Laboratory (NREL) in the U.S., it is estimated that the total amount of energy that can be generated along the coastline of the country is equivalent to 1,170 TWh per year.
- As for Europe, countries situated along the western seaboard part of the region are locations with the maximum potential for wave power.
- The Middle East market is likely to witness significant growth during the forecast period, as a large number of oil- and gas-based economies in the sub-region have shifted toward the desalination sector and they are making use of wave-powered water pumping systems
Key Players Operating in Global Wave-powered Water Pumping Market
Some of the major players operating in the global wave-powered water pumping market are:
- Tveter Power
- Impact-Free Water (Pty) Ltd
Global Wave-powered Water Pumping Market, by Application
Global Wave-powered Water Pumping Market, by End-use
- Desalination of Water
- Domestic Power Generation
Global Wave-powered Water Pumping Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.