Marine Energy - France

  • France
  • In France, electricity generation in the Marine Energy market is projected to reach 0.51bn kWh in 2024.
  • The sector is anticipated to experience an annual growth rate of 1.89%, which corresponds to a compound annual growth rate (CAGR) from 2024 to 2029.
  • France is increasingly positioning itself as a leader in marine energy, investing heavily in innovative technologies to harness tidal and wave power.

Key regions: South Korea, China, United States, France, Spain

 
Marché
 
Région
 
Comparaison de régions
 
Monnaie
 

Analyst Opinion

The Marine Energy market in France has been facing a negligible increase, influenced by factors such as regulatory challenges, high initial investment costs, and competition from other renewable sources, which hinder broader adoption and development within the sector.

Customer preferences:
Consumers in France are increasingly prioritizing sustainable energy solutions, including marine energy, as part of their commitment to environmental stewardship. This shift is driven by a growing awareness of climate change and a desire for cleaner energy sources, particularly among younger demographics. Additionally, coastal communities are showing heightened interest in local marine energy projects, reflecting a cultural inclination towards harnessing natural resources responsibly. These trends indicate a potential for greater engagement and investment in marine energy initiatives as part of a broader renewable energy strategy.

Trends in the market:
In France, the Marine Energy market is experiencing a significant uptick in investment and innovation, driven by government initiatives aimed at enhancing renewable energy production. Coastal regions are increasingly exploring tidal and wave energy projects, with local stakeholders advocating for sustainable resource management. Public support is growing, particularly among environmentally conscious younger generations, leading to partnerships between communities and energy developers. This momentum signifies a shift towards integrating marine energy within the broader renewable energy strategy, presenting new opportunities for industry stakeholders in technology development, project financing, and community engagement.

Local special circumstances:
In France, the Marine Energy market is uniquely influenced by its extensive coastline and strong maritime heritage, fostering a culture of innovation in ocean technologies. The government’s commitment to reducing carbon emissions aligns with regional policies promoting coastal sustainability. Local communities, particularly in Brittany and Normandy, actively participate in project planning, emphasizing environmental stewardship. Additionally, strict regulatory frameworks ensure that marine projects adhere to ecological standards, making France a leader in responsible marine energy development. This combination of geographical advantages, cultural engagement, and regulatory support enhances the market's growth potential.

Underlying macroeconomic factors:
The Marine Energy market in France is significantly shaped by macroeconomic factors such as national economic stability, investment in renewable technologies, and evolving fiscal policies. The French government's commitment to achieving carbon neutrality by 2050 drives public and private investments into marine energy initiatives, enhancing innovation and infrastructure development. Global trends towards sustainability and clean energy further amplify domestic demand for marine solutions. Additionally, favorable trade agreements and EU funding programs provide financial support, fostering a robust environment for marine energy projects while ensuring alignment with ecological and economic goals.

Methodology

Data coverage:

The data encompasses B2B enterprises. Figures are based on the value of electricity production in the energy market.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as annual reports of the market-leading companies and industry associations, third-party studies and reports, national statistical offices, international institutions, and the experience of our analysts.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting electricity generation due to the non-linear growth of this market, especially because of the direct impact of climate change on the market.

Additional notes:

The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.

Vue d’ensemble

  • Production
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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