Ocean Current Energy Conversion Market Size is USD 621.95 Million by 2025

Ocean Current Energy Conversion Market (By Type: Horizontal Axis Turbines, Vertical Axis Turbines, Oscillating Hydrofoils, Venturi Devices, Archimedes Screws, and Tidal Kites; By Application: Small Pilot Scale Units, Medium Industrial Scale Units, and Large Industrial Scale Units; By Region: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) Industry Size, Share, Growth, Trends 2025 to 2034

Stats ID: 8751 | Delivery Format: Databook | Tables and Figures: 33+ | Last Updated: September 2025 | Delivery: Immediate

The global ocean current energy conversion market, valued at USD 517 million in 2024, is projected to reach USD 3,282.06 million by 2034, growing at a 20.3% CAGR as the demand for renewable, sustainable energy solutions from ocean currents accelerates.

Ocean Current Energy Conversion Market Statical Scope

Reports Attributes	Statistics
Market Size in 2024	USD 517 Million
Market Size in 2025	USD 621.95 Million
Market Size in 2031	USD 885.17 Million
Market Size by 2034	USD 3282.06 Million
CAGR 2025 to 2034	20.3%
Base Year	2024
Forecast Period	2025 to 2034

Ocean Current Energy Conversion Market Companies

Orbital Marine Power
HydroQuest
Magallanes Renovables
Andritz
Nova Innovation
Minesto
SAE Renewables
Tocardo
ORPC
Inyanga Marine Energy
Verdant Power
EEL Energy
MAKO Energy
LHD New Energy

Ocean Current Energy Conversion Market Segmentation

By Type

Horizontal Axis Turbines
Vertical Axis Turbines
Oscillating hydrofoils
Venturi Devices
Archimedes Screws
Tidal Kites

By Application

Small Pilot Scale Units
Medium Industrial Scale Units
Large Industrial Scale Units

By Region

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Published by Shubham Desale

Global Market Revenue

Ocean Current Energy Conversion Market Revenue, By Type 2024 to 2034 (USD Million)

Subsegment	2024	2025	2026	2027	2028	2029	2030	2031	2032	2033	2034
Horizontal Axis Turbines	155.10	186.59	224.46	270.03	324.84	390.79	470.12	565.55	680.36	818.47	984.62
Vertical Axis Turbines	129.25	155.49	187.05	225.02	270.70	325.66	391.76	471.29	566.96	682.06	820.52
Oscillating hydrofoils	77.55	93.29	112.23	135.01	162.42	195.39	235.06	282.78	340.18	409.23	492.31
Venturi Devices	51.70	62.20	74.82	90.01	108.28	130.26	156.71	188.52	226.79	272.82	328.21
Archimedes Screws	51.70	62.20	74.82	90.01	108.28	130.26	156.71	188.52	226.79	272.82	328.21
Tidal Kites	51.70	62.20	74.82	90.01	108.28	130.26	156.71	188.52	226.79	272.82	328.21

Ocean Current Energy Conversion Market Revenue, By Application 2024 to 2034 (USD Million)

Subsegment	2024	2025	2026	2027	2028	2029	2030	2031	2032	2033	2034
Small Pilot Scale Units	103.40	124.39	149.64	180.02	216.56	260.52	313.41	377.03	453.57	545.65	656.41
Medium Industrial Scale Units	155.10	186.59	224.46	270.03	324.84	390.79	470.12	565.55	680.36	818.47	984.62
Large Industrial Scale Units	258.50	310.98	374.10	450.05	541.41	651.31	783.53	942.58	1,133.93	1,364.12	1,641.03

Ocean Current Energy Conversion Market Revenue, By Region 2024 to 2034 (USD Million)

Subsegment	2024	2025	2026	2027	2028	2029	2030	2031	2032	2033	2034
North America	155.10	186.59	224.46	270.03	324.84	390.79	470.12	565.55	680.36	818.47	984.62
Asia Pacific	206.80	248.78	299.28	360.04	433.12	521.05	626.82	754.07	907.14	1,091.29	1,312.82
Europe	103.40	124.39	149.64	180.02	216.56	260.52	313.41	377.03	453.57	545.65	656.41
Latin America	25.85	31.10	37.41	45.00	54.14	65.13	78.35	94.26	113.39	136.41	164.10
Middle East and Africa	25.85	31.10	37.41	45.00	54.14	65.13	78.35	94.26	113.39	136.41	164.10

Global Market Revenue

Ocean Current Energy Conversion Market Revenue, By Type 2024 to 2034 (USD Billion)

Subsegment	2024	2025	2026	2027	2028	2029	2030	2031	2032	2033	2034
Horizontal Axis Turbines	155.10	186.59	224.46	270.03	324.84	390.79	470.12	565.55	680.36	818.47	984.62
Vertical Axis Turbines	129.25	155.49	187.05	225.02	270.70	325.66	391.76	471.29	566.96	682.06	820.52
Oscillating hydrofoils	77.55	93.29	112.23	135.01	162.42	195.39	235.06	282.78	340.18	409.23	492.31
Venturi Devices	51.70	62.20	74.82	90.01	108.28	130.26	156.71	188.52	226.79	272.82	328.21
Archimedes Screws	51.70	62.20	74.82	90.01	108.28	130.26	156.71	188.52	226.79	272.82	328.21
Tidal Kites	51.70	62.20	74.82	90.01	108.28	130.26	156.71	188.52	226.79	272.82	328.21

Ocean Current Energy Conversion Market Revenue, By Application 2024 to 2034 (USD Billion)

Subsegment	2024	2025	2026	2027	2028	2029	2030	2031	2032	2033	2034
Small Pilot Scale Units	103.40	124.39	149.64	180.02	216.56	260.52	313.41	377.03	453.57	545.65	656.41
Medium Industrial Scale Units	155.10	186.59	224.46	270.03	324.84	390.79	470.12	565.55	680.36	818.47	984.62
Large Industrial Scale Units	258.50	310.98	374.10	450.05	541.41	651.31	783.53	942.58	1,133.93	1,364.12	1,641.03

Ocean Current Energy Conversion Market Revenue, By Region 2024 to 2034 (USD Billion)

Subsegment	2024	2025	2026	2027	2028	2029	2030	2031	2032	2033	2034
North America	155.10	186.59	224.46	270.03	324.84	390.79	470.12	565.55	680.36	818.47	984.62
Asia Pacific	206.80	248.78	299.28	360.04	433.12	521.05	626.82	754.07	907.14	1,091.29	1,312.82
Europe	103.40	124.39	149.64	180.02	216.56	260.52	313.41	377.03	453.57	545.65	656.41
Latin America	25.85	31.10	37.41	45.00	54.14	65.13	78.35	94.26	113.39	136.41	164.10
Middle East and Africa	25.85	31.10	37.41	45.00	54.14	65.13	78.35	94.26	113.39	136.41	164.10

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Ocean Current Energy Conversion Market Size is USD 621.95 Million by 2025

Ocean Current Energy Conversion Market Statical Scope

Ocean Current Energy Conversion Market Companies

Ocean Current Energy Conversion Market Segmentation

By Type

By Application

By Region

Global Market Revenue

Ocean Current Energy Conversion Market Revenue, By Type 2024 to 2034 (USD Million)

Ocean Current Energy Conversion Market Revenue, By Application 2024 to 2034 (USD Million)

Ocean Current Energy Conversion Market Revenue, By Region 2024 to 2034 (USD Million)

Global Market Revenue

Ocean Current Energy Conversion Market Revenue, By Type 2024 to 2034 (USD Billion)

Ocean Current Energy Conversion Market Revenue, By Application 2024 to 2034 (USD Billion)

Ocean Current Energy Conversion Market Revenue, By Region 2024 to 2034 (USD Billion)

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