Industry body Ocean Energy Europe has welcomed a new European Commission report that recommends feed-in tariffs or other forms of revenue support to drive the sector's technologies to market.
The commission's 'Market Study on Ocean Energy' supports the establishment of a European investment platform for the sector.
OEE, a network of over 120 organisations, said this is in line with its own recommendations.
However, support at a national level is still essential, the body added.
OEE chief executive Remi Gruet said: “This study puts figures on how great an economic opportunity ocean energy represents for Europe: €2.6bn already invested in the EU, 75% of it by private companies; 3.9GW of projects by 2030, representing €9.4bn of investments."
Gruet added: “The EU has been a great supporter of ocean energy in the last years, politically and financially. Yet revenue support at a national level is essential for any emerging energy technology to make it to market.
"It is now up to governments in countries such as France and the UK to reap the benefits of a new industrial sector.”