Global Offshore Energy Storage Market

Offshore Energy Storage Market Size, Share, Growth Analysis, By Source(Lithium Ion, Lead Acid, Sodium Chemistry, Flow Vanadium), By Application(Vessels, Drilling Platform, Wind Power), By Region - Industry Forecast 2024-2031

Report ID: SQMIG10A2036 | Region: Global | Published Date: April, 2024
Pages: 177 | Tables: 65 | Figures: 71

Offshore Energy Storage Market News

  • 11 February 2021: Siemens Energy and Maersk Drilling sign an agreement to upgrade two environmentally sensitive CJ70 jack-up drilling rigs in the North Sea with hybrid power plants powered by lithium-ion energy storage Rigs – Maersk Intrepid and Maersk Integrator control applications. it was restored with BlueVault™ batteries from Siemens Energy. They are the first jack-ups to use integrated hybrid low emission solutions on the Norwegian mainland.
  • Miami, FL, April 21, 2021 – Atlas Renewable Energy, a leading renewable energy company in the U.S., today announced a partnership with Hitachi ABB Power Grids to jointly develop and develop Battery Energy Storage Systems (BESS).
  • June 2023: Agratus Energy Storage Solutions Pvt Ltd, a subsidiary of the Tata group, signed an agreement with the Gujarat government to set up India's first giga plant for lithium-ion battery manufacturing at the domestic company's inception.
$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Offshore Energy Storage Market size was valued at USD 256.27 Million in 2022 and is poised to grow from USD 279.64 Million in 2023 to USD 562.13 Million by 2031, growing at a CAGR of 9.12% in the forecast period (2024-2031).

The competitive environment of the offshore energy storage market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Established organizations within the industry leverage techniques inclusive of product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market position. Additionally, the market is witnessing elevated opposition from local and neighborhood producers supplying cost-powerful options. 'ABB (Switzerland)', 'General Electric (U.S)', 'Siemens (Germany)', 'Deepwater Wind (U.S)', 'Duke Energy (U.S)', 'E.ON (Germany)', 'LG Chem (South Korea)', 'Johnson Controls (U.S)', 'SolarEdge (Israel)', 'Tesla (U.S) ', 'Toshiba corporation (Japan) ', ' Magnus Marin ', 'EST-Floattech', 'Leclanché ', 'ZEM AS', 'Corvus'

Energy storage has received considerable attention from a variety of stakeholders, including utilities, end users, electricity system developers, and regulators. Offshore energy storage is emerging as a key technology for the future, ensuring the efficiency and reliability of offshore energy system installations. With the increasing amount of electricity produced in ships and other offshore facilities, energy storage solutions are becoming increasingly important for storage applications with changing energy consumption.

Growing Demand for Renewable Energy Integration: Demand in the offshore energy storage market is on the rise, primarily driven by the increasing adoption of renewable energy sources, especially offshore wind farms. Offshore energy storage atomic size as a key to stabilizing the problem of renewable energy. These systems play an important role in storing surplus energy during periods of peak generation and releasing it during periods of low generation, ensuring consistent and capable electricity supply relies from the offshore wind tunnel.

Asia Pacific is the dominating market. Technological advances and adoption of clean energy will continue to drive the use of wind energy and open opportunities in emerging Asia Pacific markets, especially in countries such as China, Japan and South Korea while they are looking for alternative energy sources to diversify their energy mix and reduce CO2 emissions. This development will provide offshore energy storage. Increasing urbanization and technological advancements are likely to boost the offshore energy storage market during the forecast period.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

Click here right-arrow
logo-images

Related Reports

Advanced Energy Storage Systems Market
Buy Now GET FREE SAMPLE
Offshore Wind Power Market
Buy Now GET FREE SAMPLE
Off-Grid Energy Storage Systems Market
Buy Now GET FREE SAMPLE
Offshore Drilling Market
Buy Now GET FREE SAMPLE
Energy Storage Inverters Market
Buy Now GET FREE SAMPLE
Offshore Support Vessels Market
Buy Now GET FREE SAMPLE
Thermal Energy Storage Market
Buy Now GET FREE SAMPLE
Battery Energy Storage Market
Buy Now GET FREE SAMPLE

Feedback From Our Clients

Global Offshore Energy Storage Market

Report ID: SQMIG10A2036

$5,300
BUY NOW GET FREE SAMPLE