According to Cognitive Market Research, the global Wave Energy Converters market size will be USD 21542.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 4.30% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 8617.0 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.5% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 6462.75 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 4954.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.3% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 1077.13 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 430.85 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.0% from 2024 to 2031.
The Power Generation category is the fastest growing segment of the Wave Energy Converters industry
