Tide Gauge Market Size & Share, by Application (Hydrographic Charting, Offshore Oil & Gas, Coastal Engineering, Port & Harbor Management, Fishing Industries); Type (Float, Pressure, Acoustic, Telemetry) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 5062
  • Published Date: Jun 22, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Tide Gauge Market size is anticipated to reach USD 10 billion by the end of 2035, expanding at a CAGR of 7% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of the tide gauge was USD 4 billion. The growth of the market is set to be dominated by the growth in seawater levels owing to climate change. Globally, there has been a rise in sea level by about 3.4 ± 0.3 mm over the last 30 years from 1993 to 2022. Between 1993 and 2002 and 2013 and 2022, the rate of rise doubled, and between January 2021 and August 2022, the sea level increased by nearly 5 mm. Hence, the use of tide gauges is surging. Understanding the sea level allows scientists to calculate whether the seas are increasing or decreasing over time, further analyzing potential damage, especially to coastal areas.

Additionally, there has been growing innovation in the development of the tide gauge. The tide gauge which was recently in use was difficult to install and maintain since it was required to be near water. As an alternative, the Satellite Tide Gauge is a sensor that may be installed on a structure or another piece of equipment that could measure sea levels from a distance. The technology depends on the reflection of radio waves off of the ocean's surface. It makes use of broadcasts from Global Navigation Satellite Systems (GNSS), which include those from GPS, Galileo, and related satellites. Therefore, the growth of the market demand is anticipated to rise.


Tide Gauge Market
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Tide Gauge Market: Growth Drivers and Challenges

Growth Drivers

  • Growing Prevalence of Tsunami  A tide gauge is a device used to measure sea levels and detect tsunamis. The rise in sea level caused by a tsunami could be detected by tide gauges located nearby the earthquake.
  • Rise in Fishing Activities The amount of fish produced worldwide increased from about 177 million metric tonnes in 2021 to approximately 183 million metric tonnes in 2022. Fish is one of the foods that is eaten frequently around the globe, and its popularity is only growing. Hence, the demand for tide gauges is on the surge. Sea fishing is greatly impacted by the tide. Some marks fish more effectively at certain tides, while others are unreachable or even dangerous at certain tides. Therefore, with the guidance of the tide gauge the fishermen could efficiently carry out their activity safely.
  • Surging Use of Tide Gauge in Coastal Engineering Various coastal engineering activities such as underwater construction. Underwater work is usually needed for breakwaters, tidal barriers, harbor buildings including jetties, wharves, and docks, bridges, tunnels, outfalls, and causeways. However, analyzing seawater levels is necessary for these activities. Therefore, this factor is projected to boost the tide gauge market revenue.

Challenges

  • Strict Government Regulations
  • Inaccurate Data Provided by Tide Gauge – Most of the time, the data provided by the tide gauge could be inaccurate. This could be owing to the technology advancement. The tide gauge is estimated to be employed with IoT which would also increase the risk of data stealing or hacking. Even though the tide gauge is expected to provide only accurate data, erroneous data may appear for a variety of reasons, including instrument failures, shipping collisions, storm damage, and normal wear and tear.
  • High Cost of Setting Tide Gauge

Tide Gauge Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~7%

Base Year Market Size (2022)

~ USD 4 Billion

Forecast Year Market Size (2035)

~ USD 10 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Tide Gauge Segmentation

Application (Hydrographic Charting, Coastal Engineering, Offshore Oil & Gas, Port & Harbor Management, Fishing Industries)

Tide gauge market from the offshore oil & gas segment is projected to generate the largest revenue by the end of 2035. This growth could be encouraged by the growing demand for oil & gas. In 2022, worldwide demand for crude oil (including biofuels) was about 98 million barrels per day, and in 2023, it is predicted to reach approximately 100 million barrels per day. Hence, the activities of offshore drilling are anticipated to rise. Moreover, it is projected that there is more availability of oil & gas in the deep sea which is also estimated to drive the growth of the market.

Type (Float Type Tide Gauge, Pressure Type Tide Gauge, Acoustic Tide Gauge, Telemetry Tide Gauge)

The float-type tide gauge segment in the tide gauge market is expected to have noteworthy growth over the forecast period. The main benefit of a float gauge over a standard staff gauge is that it is easier to read a float gauge than a traditional staff gauge at high tides or when there are more variations in the level of the water. Additionally, although technology has advanced, flotation devices, which were the first self-recording tidal gauges, are still in common usage. These tools are generally trustworthy and not extremely complicated. Highly skilled workers are not necessary to maintain and use them if high accuracy is not required. Hence, the demand for float-type tide gauges is on the rise.

Our in-depth analysis of the global tide gauge market includes the following segments:

    Application

  • Hydrographic Charting
  • Offshore Oil & Gas
  • Coastal Engineering
  • Port & Harbor Management
  • Fishing Industries

   Type

  • Float Type Tide Gauge
  • Pressure Type Tide Gauge
  • Acoustic Tide Gauge
  • Telemetry Tide Gauge

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Tide Gauge Industry- Regional Synopsis

APAC Market Analysis

The Asia Pacific tide gauge market would forecast to have the highest revenue share by the end of 2035, backed by the rising maritime industry, expanding the coastal zone, port, and harbor management and development in developing countries including China and India in this region, as well as the quickening exploration of new areas for oil and gas deposits. Also, the sea level is rising in this region owing to the rigorous melting of glaciers. Therefore, to keep track of the sea level in this region the demand for the tide gauge market is growing.

North American Market Forecast

The tide gauge market in North America for tide gauges is set to have significant growth over the forecast period. The adoption of the Internet in tide gauge is expanding this region owing to which the market demand is also growing.

Research Nester
Tide Gauge Market Share
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Companies Dominating the Tide Gauge Market

top-features-companies
    • Kongsberg Maritime
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Teledyne Reson
    • Atlas Elektronik
    • Seafloor Systems, Inc.
    • Teledyne Odom Hydrographic
    • Iic Technologies
    • OHMEX Ltd
    • Thales
    • Raytheon Technologies Corporation
    • Fugro

In the News

  • Through the Climate Linked Atlantic Sector Science Project (CLASS) program, the National Oceanography Centre (NOC) constructed a new tidal gauge on the isolated Ascension Island, offering a rare record of sea level in the far-off ocean.
  • Three new tide gauges are being installed by the National Oceanography Centre (NOC) of the UK for the Government of Saint Lucia as part of the Disaster Vulnerability Reduction Project (DVRP), which aims to lessen the island's vulnerability to disasters and climate change.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 5062
  • Published Date: Jun 22, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The major factors driving the growth of the market are the growing prevalence of tsunamis, the rise in fishing activities, and the surging use of tide gauges in coastal engineering.

The market size of the tide gauge is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2023 – 2035.

The major players in the market are Kongsberg Maritime, Teledyne Reson, Atlas Elektronik, Seafloor Systems, Inc., and more.

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by application, type, and by region.

The float-type tide gauge segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

Strict government regulations, inaccurate data provided by the tide gauge, and the high cost of setting the tide gauge are estimated to be the growth-hindering factors for the market expansion.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Tide Gauge Market Report Scope
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