France Tidal Power Market Insights Forecasts to 2033

• The France Tidal Power Market Size was valued at 241.16 Megawatt in 2023.
• The Market is growing at a CAGR of 4.40% from 2023 to 2033
• The France Tidal Power Market Size is Expected to Reach 370.8 Megawatt by 2033

The France Tidal Power Market is Anticipated to Exceed 370.8 Megawatt by 2033, growing at a CAGR of 4.40% from 2023 to 2033.

Market Overview

Tidal power is a form of renewable energy generated by the movement of ocean waters during the rising and falling of tides. Tidal power is utilized by transforming energy from ocean tides into practical sources of power, primarily electricity through diverse techniques. The France tidal power sector includes various projects, such as large tidal barrages smaller tidal streams, and floating systems, which cater to both the national grid and local communities. Both local and global tidal energy companies are active in this dynamic market, which is distinguished by the incorporation of cutting-edge technologies and a focus on preserving the environment and marine ecosystems. The rise of renewable energy sources and the promise of wave & tidal power are driving efforts to commercialize them by starting with small arrays, thereby boosting the growth of the wave and tidal energy market in the future. The market has been advancing with a lot of projects reaching significant achievements, securing funding, conducting prototype tests, or experiencing other forms of growth. These projects are located close to being cost-effective in a specific niche market, making them an optimal way to gain experience in wave and tidal power and advance toward utility-scale development. Furthermore, various technologies are used in generating power from wave and tidal sources, which expands the potential for enhancing wave and tidal systems.

Report Coverage

This research report categorizes the market for the France tidal power market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the France tidal power market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the France tidal power market.

Driving Factors

The France tidal power market thrives due to the nation's extensive renewable energy potential and coastal regions utilizing tidal currents. A major factor propelling the market is the government's goal of reaching 33% renewable energy in electricity generation by 2030. Moreover, the increasing need in France for dependable and varied renewable energy sources, driven by the necessity to combat climate change and guarantee energy security, is a major factor influencing the tidal power market. Government actions like feed-in tariffs, funding for research and development, and environmental impact assessments have contributed to the growth of France's tidal market. Additionally, the increasing recognition and dedication to sustainable energy production by both the French population and government officials have played a role in the growth of the tidal industry.

Restraining Factors

One of the main restraining factors in the France tidal power sector is the significant initial financial investment needed to implement and carry out tidal energy initiatives. Another restraining factor comes from the environmental and regulatory obstacles that might arise when setting up and running tidal power systems.

Market Segmentation

The France tidal power market share is classified into technology and application.

• The tidal energy segment is expected to hold the largest market share through the forecast period.   

The France tidal power market is segmented by technology into wave energy and tidal energy. Among them, the tidal energy segment is expected to hold the largest market share through the forecast period. The tidal turbine operates based on the same concept as wind turbines and harnesses energy from flowing water. The turbine blades rotate a rotor to generate electricity. The turbine is installed on the ocean floor where there is a strong tidal current, leading to the rotation of the rotors along the horizontal axis and producing electricity. The barrage, another form of tidal technology, utilizes a structure resembling a dam or barrier known as a barrage to capture energy from the difference in water levels between high and low tides. A tidal basin is created by the installation of a barrage across an ocean inlet. The sluice gates at the barrage regulate water levels and flow, enabling the tidal basin to fill during high tides and empty through a system that generates electricity. The second section includes barriers, ponds, and hydroplanes.

• The power generation segment is expected to hold the largest market share through the forecast period.

The France tidal power market is segmented by application into power generation, desalination, and others. Among them, the power generation segment is expected to hold the largest market share through the forecast period. The power generation sector controls a large portion of the market due to the increasing demand for electricity worldwide and advancements in technology. Therefore, there is a growing need to increase power generation capabilities in order to satisfy worldwide energy requirements. Ocean-based electricity generation is becoming more popular because it is seen as having great potential, being reliable, and having more availability compared to other traditional renewable sources, and it is currently leading the market.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the France tidal power market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Sabella SAS
• Morbihan Hydro Energies SAS
• Nova Innovation
• SIMEC Atlantis Energy Ltd
• Hydroquest SAS
• EEL Energy
• Guinard Energies Nouvelles
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In July 2023, France's government has pledged to offer a minimum of €65 Megawatt in funding and specific revenue assistance to support the advancement of the innovative tidal energy project FloWatt and strengthen the tidal energy sector commercially.

Market Segment

This study forecasts revenue at France, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the France tidal power market based on the below-mentioned segments:

France Tidal Power Market, By Technology

• Wave Energy
• Tidal Energy

France Tidal Power Market, By Application

• Power Generation
• Desalination
• Others