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Global Vessel Energy Storage System Market Growth 2024-2030

Global Vessel Energy Storage System Market Growth 2024-2030

Product Code:865195

Published Date: Dec 22,2024

Pages: 149

Region: Global

Category: Energy & Power

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The global Vessel Energy Storage System market size is predicted to grow from US$ 666 million in 2024 to US$ 1135 million in 2030; it is expected to grow at a CAGR of 9.3% from 2024 to 2030.

A Vessel Energy Storage System (VESS) refers to an energy storage solution designed for use in ships, boats, or other marine vessels. It is used to store electrical energy for various purposes, such as powering onboard systems, improving fuel efficiency, and reducing emissions. These systems are typically based on technologies like batteries or capacitors, which store energy and release it as needed to support the vessel's operations.

With a growing focus on sustainability, shipping companies and offshore energy projects are exploring VESS solutions. These systems can store energy produced by offshore wind farms or act as backup power sources for vessels and remote installations.

Recent advancements in battery technologies, such as solid-state and flow batteries, are improving the efficiency and scalability of VESS, making them more attractive for large-scale applications.

Many governments are encouraging the adoption of energy storage technologies through incentives, regulatory frameworks, and mandates that promote renewable energy integration. The maritime and offshore sectors are also receiving growing support for sustainable technologies.

Several large players, traditionally outside the energy storage space, are entering the VESS market. These include:
General Electric (GE): GE has expanded its focus to include energy storage and has been involved in various projects integrating storage with renewable energy systems, including offshore wind farms.

Siemens Energy: Siemens is investing heavily in energy storage solutions, particularly in renewable energy applications. Its expertise in industrial energy management and offshore wind power positions it well for VESS projects.

ABB: ABB is involved in several grid-related energy storage projects, including marine-based energy storage, and is positioning itself to leverage VESS technologies for grid stabilization.

LP Information, Inc. (LPI) ' newest research report, the “Vessel Energy Storage System Industry Forecast” looks at past sales and reviews total world Vessel Energy Storage System sales in 2023, providing a comprehensive analysis by region and market sector of projected Vessel Energy Storage System sales for 2024 through 2030. With Vessel Energy Storage System sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Vessel Energy Storage System industry.

This Insight Report provides a comprehensive analysis of the global Vessel Energy Storage System landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Vessel Energy Storage System portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Vessel Energy Storage System market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Vessel Energy Storage System and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Vessel Energy Storage System.

This report presents a comprehensive overview, market shares, and growth opportunities of Vessel Energy Storage System market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
    Lithium Battery System
    Lead-Acid Battery System
    Others

Segmentation by Application:
    Cruise and Ferry
    Offshore Vessel
    Merchant
    Others

This report also splits the market by region:
    Americas
        United States
        Canada
        Mexico
        Brazil
    APAC
        China
        Japan
        Korea
        Southeast Asia
        India
        Australia
    Europe
        Germany
        France
        UK
        Italy
        Russia
    Middle East & Africa
        Egypt
        South Africa
        Israel
        Turkey
        GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
    Corvus
    SAFT
    EST-Floattech
    MG Energy Systems
    ZEM AS
    Leclanché
    Magnus Marin
    Siemens
    Nidec Conversion
    GE Power Conversion
    Kongsberg Maritime
    ABB
    RoyPow
    SAVe Energy
    Spear Power Systems
    Echandia
    OceanPlanet Energy
    Shift Clean Energy
    Furukawa Battery
    EVE
    PowerX

Key Questions Addressed in this Report
What is the 10-year outlook for the global Vessel Energy Storage System market?
What factors are driving Vessel Energy Storage System market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Vessel Energy Storage System market opportunities vary by end market size?
How does Vessel Energy Storage System break out by Type, by Application?