The global ocean economy is set to grow from USD 2.6 trillion to USD 5.1 trillion between 2020 and 2050*, creating huge opportunities for innovation in ocean technology.
But the health of our oceans and the critical life sustaining functions they provide is under threat from climate change, pollution and biodiversity loss.
Tope specialises in supporting companies to develop new products and services that make the most of the growing Blue Economy whilst ensuring a sustainable and integrated approach to protecting and enhancing our oceans.
*As measured by Gross Value Added (GVA), The Ocean Economy to 2050, OECD (Organisation for Economic Cooperation and Development) 2025
The tip of the iceberg…
With a global offshore wind pipeline of 826 GW and total potential of 71,000 GW; far in excess of total current and future global need, the market potential of fixed and floating offshore wind technology is huge. Add in emerging technologies such as wave, tidal and ocean thermal energy conversion and the future for renewable energy from our oceans looks bright.
95% of all goods are transported by sea making our shipping network the backbone of the global economy. Whilst very efficient compared to the limited alternatives, shipping and marine transport more generally are considered a ‘difficult to decarbonise’ sector. Low carbon fuels, greenhouse gas capture, low and un-crewed systems and more represent high growth markets for new technology.
Pressure on ecosystems is driving rapid change in the way we harvest food from our oceans. The global seafood market was valued at over $250 billion in 2023 and is expected to grow $20 billion year-on-year over the coming decade. Ocean farming or ‘aquaculture’ technology and processes will play a critical role in delivering this growth in a sustainable and cost effective way.
… oh and pharmaceuticals, biotechnology, synthetic fuels, offshore communication systems and data, data, data!
The ocean will be an exciting place to work over the coming decades.