Wave-powered Water Pumping Market Segment Forecasts up to 2027

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.

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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.

Major Developments

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.

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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: