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Report Description

Report Description

Forecast Period

2026-2030

Market Size (2024)

USD 598.76 million

Market Size (2030)

USD 807.77 million

CAGR (2025-2030)

4.96%

Fastest Growing Segment

Above 500 Kilowatt

Largest Market

Europe

Market Overview

Global Underwater Turbine Market was valued at USD 598.76 million in 2024 and is expected to reach USD 807.77 million by 2030 with a CAGR of 4.96% during the forecast period.

The Underwater Turbine Market comprises technologies and systems designed to generate renewable energy by harnessing the kinetic power of underwater currents, including tidal streams, ocean flows, and river movements. These turbines operate beneath the water’s surface, converting the continuous motion of water into electricity through rotor-driven generators. Unlike solar or wind energy, which are variable and weather-dependent, underwater turbines benefit from the predictability and consistency of aquatic currents, making them a reliable option for continuous power generation.

This market is witnessing growing interest due to the urgent global shift toward cleaner energy sources and carbon emission reduction targets. Coastal and island nations are especially focusing on this technology to enhance their energy independence and reduce reliance on imported fossil fuels. Countries such as the United Kingdom, Canada, and France are leading investments in tidal and marine energy initiatives, supported by favorable regulatory frameworks and funding programs. Technological innovations in turbine blade design, corrosion-resistant materials, and underwater anchoring systems have significantly enhanced the efficiency and lifespan of these installations while reducing maintenance costs.

Additionally, integration with smart grid and hybrid renewable systems is making underwater turbines increasingly viable for both grid-scale and off-grid applications. The market is also rising due to collaborative research between marine engineering firms, environmental organizations, and energy providers that address ecological concerns and promote sustainable deployment practices. Environmental impact assessments and marine life protection protocols are being embedded into project planning to ensure long-term ecosystem compatibility. The potential to repurpose existing marine infrastructure, such as decommissioned oil rigs or underwater tunnels, is opening new deployment opportunities.

Furthermore, growing awareness of ocean energy’s vast untapped potential is encouraging increased investments in demonstration projects and commercial deployments. As technological maturity improves, economies of scale and declining costs are expected to further accelerate market penetration. In the coming years, the underwater turbine market is poised for robust growth, driven by increasing energy demand, environmental sustainability goals, and continuous innovation in marine renewable technologies, ultimately positioning it as a key contributor to the global clean energy transition.

Key Market Drivers

Growing Global Demand for Renewable Energy

The escalating global demand for renewable energy sources is a pivotal driver for the Underwater Turbine Market, as nations strive to meet ambitious climate goals and reduce reliance on fossil fuels. Underwater turbines, which harness kinetic energy from ocean currents, tides, and waves, offer a reliable and sustainable energy solution, particularly for coastal and island nations with abundant marine resources. The urgency to combat climate change, evidenced by international commitments like the Paris Agreement, has accelerated investments in clean energy infrastructure.

Governments are promoting renewable energy through subsidies, tax incentives, and streamlined regulatory processes, making underwater turbines an attractive option for diversifying energy portfolios. These turbines provide consistent power output due to the predictable nature of tidal and ocean currents, unlike variable sources such as wind or solar. Their submerged design minimizes visual and environmental impacts, aligning with sustainability objectives and reducing land-use conflicts.

The ability to integrate underwater turbines with existing grid systems enhances energy security, particularly in regions with limited access to traditional hydropower or other renewables. As global electricity consumption rises, driven by urbanization and industrial growth, underwater turbines are increasingly recognized for their potential to deliver low-carbon, high-efficiency power, supporting the transition to a sustainable energy future.

In 2023, global renewable energy capacity reached 3,870 gigawatts, with hydropower (including marine-based technologies) contributing 1,412 gigawatts, or 36% of the total, according to the International Renewable Energy Agency. Underwater turbines, a subset of hydropower, accounted for approximately 1% of this capacity, generating 14.1 gigawatts globally. In Europe, tidal energy projects alone produced 50 gigawatt-hours in 2022, powering around 12,500 households annually, highlighting the growing role of underwater turbines in renewable energy.

Technological Advancements in Turbine Design

Technological innovation is a key driver propelling the Underwater Turbine Market by enhancing efficiency, durability, and cost-effectiveness of turbine systems. Advances in materials science, such as corrosion-resistant alloys and biofouling-resistant coatings, have extended turbine lifespans in harsh marine environments. Improved blade designs, informed by computational fluid dynamics, optimize energy capture from varying water flows, enabling deployment in diverse oceanic conditions.

Innovations like bidirectional turbines and tidal kites, which harness energy from both ebb and flood tides, increase operational flexibility and output. Smart sensors and AI-driven monitoring systems enable real-time performance optimization and predictive maintenance, reducing downtime and operational costs. For instance, digital twins simulate turbine behavior under different conditions, improving design and deployment strategies. These advancements lower the levelized cost of energy, making underwater turbines more competitive with other renewables.

Additionally, modular and compact designs facilitate easier installation and scalability, appealing to both small-scale coastal communities and large-scale energy projects. As research and development continue, supported by government and private investments, technological breakthroughs are expanding the market’s potential, positioning underwater turbines as a viable component of the global renewable energy mix.

In 2022, advancements in turbine blade materials increased energy conversion efficiency by 10%, boosting output by 5 megawatts per turbine in select projects, per the U.S. Department of Energy. Globally, 150 new underwater turbine installations in 2023 incorporated smart sensors, reducing maintenance costs by 12%. The International Energy Agency notes that these innovations contributed to a 15% reduction in tidal energy costs, with 30 gigawatt-hours generated in Europe, supporting 7,500 households annually.

Supportive Government Policies and Funding

Government policies and financial incentives are critical in driving the Underwater Turbine Market by fostering an enabling environment for development and deployment. Many countries offer grants, low-interest loans, and feed-in tariffs to offset the high initial costs of underwater turbine projects, encouraging private-sector participation. Regulatory frameworks are evolving to streamline environmental permitting, as underwater turbines have minimal ecological impact compared to traditional hydropower dams. For example, coastal nations like Scotland and Canada have established dedicated marine energy programs, providing funding for research and pilot projects.

International collaborations, such as the European Union’s Horizon 2020 program, support cross-border innovation in tidal and wave energy. These policies align with global decarbonization goals, prioritizing marine energy as a stable, low-carbon source. Governments also recognize the strategic value of underwater turbines for energy security, particularly in regions with limited land-based renewable options. By offering long-term power purchase agreements and tax incentives, policymakers reduce financial risks for developers, accelerating market growth. This supportive ecosystem drives investment in underwater turbine infrastructure, positioning it as a cornerstone of sustainable energy strategies worldwide.

In 2023, global government funding for marine energy projects reached USD 1.2 billion, with 25% allocated to underwater turbine development, per the International Hydropower Association. Europe’s Horizon 2020 program invested USD 200 million in tidal energy, supporting 20 new installations. These efforts added 10 megawatts of capacity in 2022, powering 2,500 homes. In Scotland, policy incentives enabled the MeyGen project to generate 40 gigawatt-hours annually, serving 10,000 households.

Rising Energy Needs in Coastal and Island Regions

The increasing energy demand in coastal and island regions, where access to traditional energy infrastructure is often limited, is a significant driver for the Underwater Turbine Market. These areas, rich in tidal and ocean current resources, benefit from underwater turbines’ ability to provide localized, reliable power without extensive grid connections. Small-scale turbines, ranging from 100 kilowatts to 1 megawatt, are ideal for remote communities, reducing reliance on costly diesel generators. For instance, island nations like Indonesia and the Philippines are exploring tidal energy to meet growing electricity needs driven by population growth and tourism.

Underwater turbines’ submerged design minimizes land use, preserving valuable coastal ecosystems and tourism assets. Their ability to deliver consistent power, due to predictable tidal cycles, supports critical applications like desalination and refrigeration in these regions. As energy access becomes a priority for sustainable development, underwater turbines offer a scalable solution, from micro-grids for small villages to larger installations for industrial hubs. This driver is amplified by the need for energy resilience in regions vulnerable to climate-induced disruptions, positioning underwater turbines as a strategic asset.

In 2023, Asia Pacific’s coastal regions added 5 megawatts of underwater turbine capacity, serving 1,250 households, per the Asian Development Bank. Globally, 100 micro-turbine installations in island nations generated 50 megawatts in 2022, powering 12,500 homes. In Indonesia, tidal projects contributed 10 gigawatt-hours annually, reducing diesel consumption by 2.5 million liters, saving USD 3 million in fuel costs and cutting emissions equivalent to 5,000 tons of CO2.

 

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Key Market Challenges

High Capital Expenditure and Installation Complexity

One of the foremost challenges impeding the large-scale deployment of underwater turbines is the substantial capital investment required for project development and installation. Underwater turbines, unlike traditional land-based wind or solar technologies, demand advanced marine-grade materials capable of withstanding corrosion, pressure variations, and biofouling. The high costs are further amplified by complex engineering, custom-built infrastructure, subsea cabling, underwater foundations, and the use of specialized vessels for turbine deployment and retrieval. In addition, access to suitable underwater locations is often limited by geological factors, seabed composition, and proximity to the electrical grid, which collectively elevate the overall cost of site assessment and preparation.

Moreover, subsea operations necessitate significant investment in remote-operated vehicles, autonomous underwater monitoring systems, and sonar mapping technologies, all of which contribute to escalated project budgets. From a business standpoint, this high upfront expenditure poses a significant barrier to entry, especially for small and medium-sized energy developers. The return on investment for such projects may take a prolonged period to materialize, making it financially unattractive compared to faster-yielding renewable alternatives such as solar photovoltaic or onshore wind energy.

Furthermore, the lack of standardized components and universal design frameworks for underwater turbines contributes to non-uniformity and cost inefficiencies across projects. Even though long-term operational costs may be relatively lower due to the reliability of tidal and ocean current energy sources, the initial financial burden deters both public and private sector stakeholders from aggressively pursuing development in this space. As a result, the high capital expenditure and installation challenges remain key bottlenecks that hinder the scalability and commercialization of the underwater turbine market on a global level.

Environmental and Marine Ecosystem Concerns

The deployment of underwater turbines in oceanic and riverine environments introduces a range of ecological challenges that must be addressed for sustainable market expansion. These turbines operate in biologically diverse marine ecosystems that host various aquatic species, many of which are sensitive to alterations in water flow, acoustic disturbances, and habitat modifications. The turbine blades, despite often being designed to rotate slowly and minimize harm, pose collision risks to fish, mammals, and other marine organisms.

Additionally, the underwater acoustic emissions generated by turbine operations and installation activities may interfere with the communication, navigation, and migration behaviors of cetaceans and other marine species that rely on sonar and echo-location. Sediment disruption during construction and anchor placement can also lead to turbidity and the potential displacement of benthic organisms, altering the local marine ecology. These ecological impacts raise significant regulatory scrutiny and often necessitate exhaustive environmental impact assessments, delaying project approvals and increasing compliance costs.

Public opposition and resistance from environmental advocacy groups further complicate the development process, particularly in ecologically sensitive or protected marine zones. Furthermore, the long-term ecological effects of large-scale underwater turbine deployment remain largely unstudied, leading to scientific uncertainties that dissuade both investors and regulators. The lack of robust, large-scale environmental datasets and the absence of harmonized marine conservation standards globally add to the complexity.

From a business and policy standpoint, balancing energy generation goals with ecological conservation mandates presents a substantial challenge. Regulatory frameworks must evolve to support innovation in environmentally friendly turbine technologies, while still safeguarding marine biodiversity. Until these ecological considerations are systematically addressed, environmental concerns will continue to constrain the expansion and social acceptance of the underwater turbine market.

Key Market Trends

Increasing Integration of Underwater Turbines with Hybrid Renewable Energy Systems

A significant trend in the underwater turbine market is the growing integration of these systems with hybrid renewable energy platforms that include offshore wind, solar photovoltaic, and battery storage. The consistent and predictable nature of tidal and ocean currents allows underwater turbines to complement intermittent energy sources such as wind and solar. As energy stakeholders increasingly focus on balancing grid reliability with sustainability goals, hybrid configurations are becoming more attractive.

Underwater turbines can provide base-load power due to their high predictability, which supports grid stability even when wind and solar output fluctuate. Furthermore, the shared use of subsea infrastructure such as cabling and transmission hubs for hybrid systems reduces the capital expenditure associated with individual projects. As nations worldwide strive to decarbonize their energy systems, the integration of underwater turbines into multi-source energy clusters is emerging as a preferred model.

This integration is also aligned with the strategic objectives of island nations and remote coastal regions where land availability is limited, and a diversified portfolio of renewable energy sources is essential to meet local demand. The trend is further bolstered by advances in digital technologies such as smart energy management systems and artificial intelligence-based monitoring tools that ensure efficient coordination between different renewable sources. As this hybrid deployment model proves effective in pilot projects, it is anticipated that the underwater turbine market will see heightened investment interest and increased commercial installations, particularly in regions with strong tidal resources and pre-existing offshore infrastructure.

Advancements in Modular and Scalable Turbine Designs

The evolution toward modular and scalable underwater turbine designs is shaping the future trajectory of the underwater turbine market. Manufacturers are increasingly focusing on flexible designs that allow easy customization and deployment in various water depths, flow velocities, and geological conditions. Modular units offer the advantage of phased installation, which reduces upfront capital risks and allows for quicker testing and commissioning phases. These systems can be expanded over time by adding more units based on energy demand or site-specific assessments.

Furthermore, modular underwater turbines simplify transportation and assembly logistics, which is particularly beneficial for remote or hard-to-access coastal locations. This adaptability is also encouraging smaller energy developers and regional governments to invest in marine energy, expanding the market beyond the domain of large utility-scale projects. Scalability also makes underwater turbines suitable for micro-grid applications and off-grid power systems, serving isolated communities and industrial operations such as aquaculture, marine research facilities, and naval bases.

The emphasis on modular design is supported by recent innovations in lightweight composite materials, corrosion-resistant coatings, and magnetically driven generators that reduce maintenance frequency and operational costs.

The ability to integrate these scalable turbines with real-time monitoring systems further enhances their appeal, as operators can remotely track performance and optimize generation. As the trend toward decentralized and flexible energy systems continues to gain momentum, the demand for modular underwater turbines is expected to surge, providing a viable pathway for the market to penetrate both developed and emerging economies.

Rising Government Incentives and Supportive Regulatory Frameworks

Governments across various coastal nations are increasingly recognizing the strategic importance of harnessing underwater energy and are responding with supportive regulatory frameworks and incentives. This trend is driving growth in the underwater turbine market, as such policy backing reduces the financial and administrative burden on project developers. Countries are introducing feed-in tariffs, tax benefits, streamlined permitting procedures, and dedicated marine spatial planning initiatives to encourage the deployment of underwater turbines.

In many regions, governmental bodies are also funding research and development activities aimed at reducing the levelized cost of energy from tidal and ocean currents. These measures are not only improving investor confidence but also accelerating technology commercialization. Moreover, underwater turbine installations are often being included in national renewable energy targets and marine energy roadmaps, providing clear direction for future capacity additions. Public-private partnerships are being formed to demonstrate pilot projects, validate turbine technologies, and create testbeds for innovation. International cooperation through marine energy alliances is also helping harmonize standards and share technical know-how across borders.

Additionally, coastal states and provinces are investing in port infrastructure, offshore grid connectivity, and skilled workforce development to attract marine energy developers. The growing policy focus on energy security, especially in the context of climate change and geopolitical uncertainties, further positions underwater turbines as a resilient and domestic source of clean power. As regulatory clarity improves and incentives are scaled, the underwater turbine market is likely to witness increased participation from both established energy players and emerging marine technology firms.

Segmental Insights

Type Insights

In 2024, the horizontal axis turbine segment held the dominant position in the global underwater turbine market and is projected to maintain its leading status throughout the forecast period. This dominance is primarily attributed to the technological maturity and operational efficiency of horizontal axis turbines, which are well-suited for consistent tidal and marine current environments. Horizontal axis turbines resemble traditional wind turbines but are installed underwater and aligned with the direction of the water flow, making them highly efficient in capturing kinetic energy from predictable tidal streams.

Their streamlined design allows for scalable deployment, improved performance in low-velocity flows, and easier maintenance compared to vertical axis turbines. Moreover, the widespread research and development efforts from established players have led to increased reliability, enhanced blade designs, and reduced costs for horizontal axis turbine systems. These systems are being deployed in various large-scale pilot projects across Europe, North America, and parts of Asia Pacific, where tidal resources are abundant. Additionally, regulatory support and government funding directed towards harnessing tidal energy in a sustainable and low-impact manner have further contributed to the segment’s growth.

The increasing focus on diversifying renewable energy portfolios and minimizing the ecological footprint of power generation technologies is also encouraging the adoption of horizontal axis turbines. Industry stakeholders are increasingly favoring this type due to its proven track record in marine trials and ability to integrate with underwater grid infrastructure. Furthermore, horizontal axis turbines offer higher capacity factors and easier alignment with water currents, ensuring consistent energy generation with lower operational disruptions.

As environmental impact assessments and technological standardizations continue to improve, this segment is poised to attract further investment and commercialization opportunities. Therefore, the horizontal axis turbine segment is expected to continue leading the underwater turbine market over the coming years, driven by its operational reliability, engineering advancements, and strategic alignment with global decarbonization goals.

Capacity Insights

In 2024, the 100–500 kilowatt segment emerged as the dominant category in the global underwater turbine market and is expected to maintain its leading position during the forecast period. This dominance is primarily driven by the segment's ability to effectively balance between small-scale and large-scale power generation requirements, making it suitable for a wide range of commercial and utility-scale marine energy projects. Turbines within this capacity range are increasingly being adopted for both grid-connected and off-grid coastal applications, especially in island nations and remote coastal regions where traditional energy infrastructure is limited or environmentally unsustainable.

The 100–500 kilowatt capacity turbines offer greater energy output compared to lower capacity turbines, making them ideal for communities and businesses seeking a reliable renewable power source without the complexity and cost of deploying very high-capacity systems. Moreover, this segment benefits from technological innovation and modular designs that simplify installation, maintenance, and scaling of marine energy farms. Governments and energy developers across Europe, North America, and Asia Pacific are investing in mid-sized underwater turbine projects as part of broader strategies to decarbonize energy systems and reduce reliance on fossil fuels.

Additionally, this capacity segment aligns well with current regulatory frameworks and marine spatial planning initiatives, enabling quicker permitting processes and reduced environmental concerns. The increasing affordability of components, advancements in materials that enhance corrosion resistance and hydrodynamic efficiency, and the growing availability of underwater grid connectivity solutions further support the market share of the 100–500 kilowatt segment.

These systems are particularly attractive for commercial aquaculture operations, military bases, research facilities, and coastal communities aiming to harness marine currents for consistent power generation. As awareness of marine energy’s reliability and ecological advantages grows, this mid-range capacity segment is expected to witness sustained deployment and continued dominance in the global underwater turbine market.

 

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Regional Insights

Largest Region

In 2024, Europe emerged as the dominant region in the global underwater turbine market and is anticipated to maintain its leading position throughout the forecast period. This regional dominance is largely attributed to the continent’s proactive and robust policy frameworks supporting the transition to renewable energy sources, especially marine-based solutions. Countries such as the United Kingdom, Norway, France, and the Netherlands have made significant investments in marine renewable energy projects, including tidal and underwater turbine systems.

Europe’s advanced technological infrastructure, strong research and development ecosystem, and well-established marine engineering capabilities have positioned it at the forefront of underwater turbine deployment. Moreover, the region benefits from an abundance of high-potential sites for underwater turbines, particularly along the Atlantic coastline and North Sea, where tidal currents are strong and predictable. The European Union’s commitment to achieving net-zero emissions and reducing dependence on conventional fossil fuel sources has further stimulated investments in marine energy solutions, with underwater turbines gaining traction due to their continuous and reliable power generation.

Additionally, supportive regulatory frameworks, financial incentives, and research grants have encouraged public-private partnerships to accelerate commercial deployments of underwater turbines. Collaborations among technology developers, utility companies, and governmental bodies have also played a pivotal role in scaling up pilot projects to large-scale commercial operations. The growing emphasis on energy security, especially in light of geopolitical uncertainties and the need for decentralized energy systems, has further intensified the focus on local and sustainable energy sources like underwater turbines in Europe.

Furthermore, initiatives such as the European Green Deal and the Clean Energy for All Europeans package have provided long-term strategic direction, fostering innovation and investment in underwater turbine technologies. As European nations continue to prioritize decarbonization and technological leadership in marine renewables, the region is expected to sustain its dominance in the global underwater turbine market over the forecast period.

Emerging Region

The Middle East and Africa region is emerging as a promising and strategic region in the global underwater turbine market during the forecast period. This emergence is primarily attributed to the region’s increasing commitment to diversifying energy sources beyond oil and gas, driven by climate resilience goals and economic diversification agendas such as Saudi Arabia’s Vision 2030 and the United Arab Emirates’ long-term energy strategies. Several nations across the Gulf Cooperation Council and the African coastline are beginning to explore marine energy solutions to address energy access challenges in coastal and island communities while simultaneously reducing dependency on fossil fuels.

Although the underwater turbine market in this region is currently at a nascent stage, governments and regional agencies are beginning to invest in pilot projects and feasibility studies focused on tidal and marine current energy. The abundance of untapped marine resources, long coastlines, and favorable current patterns provide a strong geographical foundation for the growth of underwater turbine installations.

Additionally, global renewable energy players are showing growing interest in forming joint ventures and technology transfer agreements with local entities to expand into this underdeveloped market. African countries such as South Africa, Kenya, and Ghana are also beginning to evaluate marine energy as part of broader renewable energy initiatives, driven by international support and funding from climate-focused institutions.

The evolving regulatory landscape, increasing awareness of marine renewable potential, and growing international collaboration signal a rising momentum in this region. As the region continues to develop its technical capabilities and infrastructure, the Middle East and Africa is expected to emerge as a key contributor to the long-term expansion of the underwater turbine market during the forecast period.

Recent Development

  • In February 2025, Proteus Marine Renewables successfully deployed its AR1100 horizontal-axis tidal turbine in Japan’s Naru Strait, marking the country’s first megawatt-scale, grid-connected tidal energy system with a capacity of 1.1 megawatt. At the same time, Minesto AB launched its Dragon 12 tidal kite in the Faroe Islands, generating 1.2 megawatt. This upgrade from previous 100 kilowatt units marks the initial phase of a larger development aimed at achieving up to 200 megawatt capacity to enhance island grid independence.
  • In May 2024, Orbital Marine Power partnered with Global Energy Group to manufacture turbines for its 9.6 megawatt Contracts-for-Difference projects in Orkney, scheduled for deployment between 2026 and 2028. The company also announced plans for a 30 megawatt floating turbine array in Canada’s Bay of Fundy. Additionally, Orbital Marine Power is participating in a United States Department of Energy-funded initiative aimed at advancing floating ocean current turbine deployment and ensuring adherence to environmental compliance standards.
  • In March 2025, SIMEC Atlantis Energy entered into a 15-year electricity supply agreement under the United Kingdom Capacity Market for its 120 megawatt AW1 battery storage project at the Uskmouth Sustainable Energy Park. The contract ensures a fixed annual revenue of £60 per kilowatt, offering strong financial security. This long-term deal marks a major milestone for the project and significantly enhances the company’s financial outlook as it moves toward securing full financial closure and advancing project implementation.
  • In December 2024, SIMEC Atlantis Energy achieved full-power operation at its flagship MeyGen tidal stream project in Scotland, marking a major operational milestone. This advancement strengthens the company’s status as the operator of the world’s foremost tidal energy site. The successful performance not only validates the project’s technological capabilities but also paves the way for future expansion of tidal energy capacity currently under development, reinforcing SIMEC Atlantis’s leadership role in the global marine renewable energy sector.

Key Market Players

  • Verdant Power, Inc.
  • Ocean Renewable Power Company (ORPC)
  • SIMEC Atlantis Energy Ltd
  • Voith Hydro GmbH & Co. KG
  • Andritz Hydro GmbH
  • Tocardo International BV
  • Nova Innovation Ltd.
  • Sabella SAS
  • Minesto AB
  • HydroQuest

By Type

By Capacity

 By End-User

By Region

  • Horizontal Axis Turbine
  • Vertical Axis Turbine
  • Less than 100 Kilowatt
  • 100–500 Kilowatt
  • Above 500 Kilowatt
  • Commercial
  • Industrial
  • Utility
  • North America
  • Europe
  • South America
  • Middle East & Africa
  • Asia Pacific

 

 

 

 




Report Scope:

In this report, the Global Underwater Turbine Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  •  Underwater Turbine Market, By Type:

o   Horizontal Axis Turbine

o   Vertical Axis Turbine

  • Underwater Turbine Market, By Capacity:

o   Less than 100 Kilowatt

o   100–500 Kilowatt

o   Above 500 Kilowatt

  • Underwater Turbine Market, By End-User:

o   Commercial

o   Industrial

o   Utility

  • Underwater Turbine Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  Germany

§  France

§  United Kingdom

§  Italy

§  Spain

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Asia-Pacific

§  China

§  India

§  Japan

§  South Korea

§  Australia

o   Middle East & Africa

§  Saudi Arabia

§  UAE

§  South Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Underwater Turbine Market.

Available Customizations:

Global Underwater Turbine Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Underwater Turbine Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]  

Table of content

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.    Markets Covered

1.2.2.    Years Considered for Study

1.2.3.    Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Overview of the Market

3.2.  Overview of Key Market Segmentations

3.3.  Overview of Key Market Players

3.4.  Overview of Key Regions/Countries

3.5.  Overview of Market Drivers, Challenges, and Trends

4.    Voice of Customer

5.    Global Underwater Turbine Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value

5.2.   Market Share & Forecast

5.2.1.    By Type (Horizontal Axis Turbine, Vertical Axis Turbine)

5.2.2.    By Capacity (Less than 100 Kilowatt, 100–500 Kilowatt, Above 500 Kilowatt)

5.2.3.    By End-User (Commercial, Industrial, Utility)

5.2.4.    By Region (North America, Europe, South America, Middle East & Africa, Asia Pacific)

5.3.  By Company (2024)

5.4.  Market Map

6.    North America Underwater Turbine Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Type

6.2.2.    By Capacity

6.2.3.     By End-User

6.2.4.    By Country

6.3.  North America: Country Analysis

6.3.1.    United States Underwater Turbine Market Outlook

6.3.1.1.   Market Size & Forecast

6.3.1.1.1. By Value

6.3.1.2.   Market Share & Forecast

6.3.1.2.1. By Type

6.3.1.2.2. By Capacity

6.3.1.2.3.  By End-User

6.3.2.    Canada Underwater Turbine Market Outlook

6.3.2.1.   Market Size & Forecast

6.3.2.1.1. By Value

6.3.2.2.   Market Share & Forecast

6.3.2.2.1. By Type

6.3.2.2.2. By Capacity

6.3.2.2.3.  By End-User

6.3.3.    Mexico Underwater Turbine Market Outlook

6.3.3.1.   Market Size & Forecast

6.3.3.1.1. By Value

6.3.3.2.   Market Share & Forecast

6.3.3.2.1. By Type

6.3.3.2.2. By Capacity

6.3.3.2.3.  By End-User

7.    Europe Underwater Turbine Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Type

7.2.2.    By Capacity

7.2.3.     By End-User

7.2.4.    By Country

7.3.  Europe: Country Analysis

7.3.1.    Germany Underwater Turbine Market Outlook

7.3.1.1.   Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2.   Market Share & Forecast

7.3.1.2.1. By Type

7.3.1.2.2. By Capacity

7.3.1.2.3.  By End-User

7.3.2.    France Underwater Turbine Market Outlook

7.3.2.1.   Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2.   Market Share & Forecast

7.3.2.2.1. By Type

7.3.2.2.2. By Capacity

7.3.2.2.3.  By End-User

7.3.3.    United Kingdom Underwater Turbine Market Outlook

7.3.3.1.   Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2.   Market Share & Forecast

7.3.3.2.1. By Type

7.3.3.2.2. By Capacity

7.3.3.2.3.  By End-User

7.3.4.    Italy Underwater Turbine Market Outlook

7.3.4.1.   Market Size & Forecast

7.3.4.1.1. By Value

7.3.4.2.   Market Share & Forecast

7.3.4.2.1. By Type

7.3.4.2.2. By Capacity

7.3.4.2.3.  By End-User

7.3.5.    Spain Underwater Turbine Market Outlook

7.3.5.1.   Market Size & Forecast

7.3.5.1.1. By Value

7.3.5.2.   Market Share & Forecast

7.3.5.2.1. By Type

7.3.5.2.2. By Capacity

7.3.5.2.3.  By End-User

8.    Asia Pacific Underwater Turbine Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Type

8.2.2.    By Capacity

8.2.3.     By End-User

8.2.4.    By Country

8.3.  Asia Pacific: Country Analysis

8.3.1.    China Underwater Turbine Market Outlook

8.3.1.1.   Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2.   Market Share & Forecast

8.3.1.2.1. By Type

8.3.1.2.2. By Capacity

8.3.1.2.3.  By End-User

8.3.2.    India Underwater Turbine Market Outlook

8.3.2.1.   Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2.   Market Share & Forecast

8.3.2.2.1. By Type

8.3.2.2.2. By Capacity

8.3.2.2.3.  By End-User

8.3.3.    Japan Underwater Turbine Market Outlook

8.3.3.1.   Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2.   Market Share & Forecast

8.3.3.2.1. By Type

8.3.3.2.2. By Capacity

8.3.3.2.3.  By End-User

8.3.4.    South Korea Underwater Turbine Market Outlook

8.3.4.1.   Market Size & Forecast

8.3.4.1.1. By Value

8.3.4.2.   Market Share & Forecast

8.3.4.2.1. By Type

8.3.4.2.2. By Capacity

8.3.4.2.3.  By End-User

8.3.5.    Australia Underwater Turbine Market Outlook

8.3.5.1.   Market Size & Forecast

8.3.5.1.1. By Value

8.3.5.2.   Market Share & Forecast

8.3.5.2.1. By Type

8.3.5.2.2. By Capacity

8.3.5.2.3.  By End-User

9.    Middle East & Africa Underwater Turbine Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Type

9.2.2.    By Capacity

9.2.3.     By End-User

9.2.4.    By Country

9.3.  Middle East & Africa: Country Analysis

9.3.1.    Saudi Arabia Underwater Turbine Market Outlook

9.3.1.1.   Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2.   Market Share & Forecast

9.3.1.2.1. By Type

9.3.1.2.2. By Capacity

9.3.1.2.3.  By End-User

9.3.2.    UAE Underwater Turbine Market Outlook

9.3.2.1.   Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2.   Market Share & Forecast

9.3.2.2.1. By Type

9.3.2.2.2. By Capacity

9.3.2.2.3.  By End-User

9.3.3.    South Africa Underwater Turbine Market Outlook

9.3.3.1.   Market Size & Forecast

9.3.3.1.1. By Value

9.3.3.2.   Market Share & Forecast

9.3.3.2.1. By Type

9.3.3.2.2. By Capacity

9.3.3.2.3.  By End-User

10. South America Underwater Turbine Market Outlook

10.1.     Market Size & Forecast

10.1.1. By Value

10.2.     Market Share & Forecast

10.2.1. By Type

10.2.2. By Capacity

10.2.3.  By End-User

10.2.4. By Country

10.3.     South America: Country Analysis

10.3.1. Brazil Underwater Turbine Market Outlook

10.3.1.1.  Market Size & Forecast

10.3.1.1.1.  By Value

10.3.1.2.  Market Share & Forecast

10.3.1.2.1.  By Type

10.3.1.2.2.  By Capacity

10.3.1.2.3.   By End-User

10.3.2. Colombia Underwater Turbine Market Outlook

10.3.2.1.  Market Size & Forecast

10.3.2.1.1.  By Value

10.3.2.2.  Market Share & Forecast

10.3.2.2.1.  By Type

10.3.2.2.2.  By Capacity

10.3.2.2.3.   By End-User

10.3.3. Argentina Underwater Turbine Market Outlook

10.3.3.1.  Market Size & Forecast

10.3.3.1.1.  By Value

10.3.3.2.  Market Share & Forecast

10.3.3.2.1.  By Type

10.3.3.2.2.  By Capacity

10.3.3.2.3.   By End-User

11.  Market Dynamics

11.1.     Drivers

11.2.     Challenges

12. Market Trends and Developments

12.1.     Merger & Acquisition (If Any)

12.2.     Product Launches (If Any)

12.3.     Recent Developments

13. Company Profiles

13.1.    Verdant Power, Inc.

13.1.1. Business Overview

13.1.2. Key Revenue and Financials 

13.1.3. Recent Developments

13.1.4. Key Personnel

13.1.5. Key Product/Services Offered

13.2.    Ocean Renewable Power Company (ORPC)

13.3.    SIMEC Atlantis Energy Ltd

13.4.    Voith Hydro GmbH & Co. KG

13.5.    Andritz Hydro GmbH

13.6.    Tocardo International BV

13.7.    Nova Innovation Ltd.

13.8.    Sabella SAS

13.9.    Minesto AB

13.10.  HydroQuest

14. Strategic Recommendations

15. About Us & Disclaimer

Figures and Tables

Frequently asked questions

Frequently asked questions

The market size of the Global Underwater Turbine Market was USD 598.76 million in 2024.

The Above 500 Kilowatt segment is the fastest growing in the Global Underwater Turbine Market by Capacity. This growth is driven by increasing demand for high-capacity, grid-scale renewable energy solutions.

The Global Underwater Turbine Market faces challenges such as high installation and maintenance costs in harsh marine environments. Additionally, regulatory hurdles and environmental concerns related to marine ecosystems hinder widespread deployment.

The Global Underwater Turbine Market is driven by the increasing demand for renewable and reliable energy sources and the rising focus on reducing carbon emissions. Technological advancements in turbine design and government incentives further support market expansion

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