The global offshore energy storage market size is estimated to grow from USD 354 million in the current year to USD 1.59 billion by 2035, at a CAGR of 14.6% during the forecast period, till 2035.
Notably, the adoption of offshore energy storage in key sectors is rising due to the swift growth of renewable technologies and increasing public awareness, particularly around solar and wind energy. The offshore energy storage market is becoming an essential element in the global transition toward sustainable energy, incorporating market innovations and digital advancements to enhance renewable energy storage solutions. Innovations like lithium-ion batteries, known for their high energy density and rapid response rates, are gaining greater presence.
Moreover, compressed air energy storage (CAES) and hydrogen storage are facilitating effective offshore energy management by retaining excess energy for future utilization. Owing to the continuous advancements in offshore energy storage technology, such as the integration of hybrid storage systems, the offshore energy storage market is expected to increase during the forecast period.
However, wind power segment is expected to grow at a relatively higher CAGR during the forecast period, due to the high demand in the automotive sector. This can be attributed to more robust and consistent wind speeds that boost energy generation efficiency and decrease costs.
Additionally, this segment is anticipated to experience a relatively higher growth rate during the forecast period. This growth can be attributed to their capability to efficiently handle the fluctuating nature of renewable energy sources such as wind and solar, ensuring a dependable power supply.
However, oil and gas segment is expected to grow at a relatively higher CAGR during the forecast period, due to the high demand in the automotive sector. This can be attributed to the increasing demand for dependable energy management solutions in remote operations, along with substantial investments in hybrid systems that incorporate renewable technologies.
OFFSHORE ENERGY STORAGE MARKET: GROWTH AND TRENDS
Offshore energy storage generally operates through the use of advanced technologies, including lithium-ion battery systems designed for offshore use and hydrogen storage, each bringing distinctive benefits suited for maritime settings. Some significant benefits of offshore energy storage systems, include improved grid reliability, lower carbon emissions, and the capability to store excess energy produced during high-demand periods, particularly from solar energy generation.Notably, the adoption of offshore energy storage in key sectors is rising due to the swift growth of renewable technologies and increasing public awareness, particularly around solar and wind energy. The offshore energy storage market is becoming an essential element in the global transition toward sustainable energy, incorporating market innovations and digital advancements to enhance renewable energy storage solutions. Innovations like lithium-ion batteries, known for their high energy density and rapid response rates, are gaining greater presence.
Moreover, compressed air energy storage (CAES) and hydrogen storage are facilitating effective offshore energy management by retaining excess energy for future utilization. Owing to the continuous advancements in offshore energy storage technology, such as the integration of hybrid storage systems, the offshore energy storage market is expected to increase during the forecast period.
OFFSHORE ENERGY STORAGE MARKET: KEY SEGMENTS
Market Share by Type of Source
Based on type of source, the global offshore energy storage market is segmented into vanadium, lead acid, lithium ion and sodium chemistry. According to our estimates, currently, lithium-ion segment captures the majority share of the market. This can be attributed to technological advancements that improve efficiency and lower costs.Market Share by Type of Application
Based on type of application, the offshore energy storage market is segmented into drilling platform, vessels and wind power. According to our estimates, currently, vessels segment captures the majority of the market. This dominance is largely due to hybrid energy systems tailored for marine environments, which combine various propulsion methods, such as diesel engines and electric batteries, resulting in improved operational efficiency and reduced emissions.However, wind power segment is expected to grow at a relatively higher CAGR during the forecast period, due to the high demand in the automotive sector. This can be attributed to more robust and consistent wind speeds that boost energy generation efficiency and decrease costs.
Market Share by Type of Storage System
Based on type of storage system, the offshore energy storage market is segmented into battery energy storage solutions, flywheel energy storage, hydro-pneumatic energy storage and misc. According to our estimates, currently, battery energy storage solution segment captures the majority share of the market.Additionally, this segment is anticipated to experience a relatively higher growth rate during the forecast period. This growth can be attributed to their capability to efficiently handle the fluctuating nature of renewable energy sources such as wind and solar, ensuring a dependable power supply.
Market Share by End-User
Based on end-user, the offshore energy storage market is segmented into oil & gas, renewable energy providers, utilities and others. According to our estimates, currently, the utilities segment captures the majority share of the market. Additionally, this segment is anticipated to experience a relatively higher growth rate during the forecast period. This growth can be attributed to their requirements for integrating renewable energy sources and ensuring grid stability.However, oil and gas segment is expected to grow at a relatively higher CAGR during the forecast period, due to the high demand in the automotive sector. This can be attributed to the increasing demand for dependable energy management solutions in remote operations, along with substantial investments in hybrid systems that incorporate renewable technologies.
Market Share by Type of Enterprise
Based on type of enterprise, the offshore energy storage market is segmented into large and small and medium enterprise. According to our estimates, currently, the large enterprises capture the majority share of the market. Additionally, this segment is anticipated to experience a relatively higher growth rate during the forecast period. This can be attributed to their ability to invest in cutting-edge offshore energy storage technologies and equipment, advantage of government initiatives, and stimulate business growth.Market Share by Geographical Regions
Based on geographical regions, the offshore energy storage market is segmented into North America, Europe, Asia, Latin America, Middle East and North Africa, and the rest of the world. According to our estimates, currently, North America captures the majority share of the market. This dominance can be linked to its vast coastline, which offers ideal conditions for tapping into wind and tidal energy, along with significant investments in research, technology, and infrastructure that improve both capacity and efficiency. However, market in Asia Pacific is expected to grow at a higher CAGR during the forecast period.OFFSHORE ENERGY STORAGE MARKET: RESEARCH COVERAGE
The report on the offshore energy storage market features insights on various sections, including:- Market Sizing and Opportunity Analysis: An in-depth analysis of the offshore energy storage market, focusing on key market segments, including [A] type of source, [B] type of application, [C] type of storage system, [D] end-user, [E] type of enterprise and [F] geographical regions.
- Competitive Landscape: A comprehensive analysis of the companies engaged in the offshore energy storage market, based on several relevant parameters, such as [A] year of establishment, [B] company size, [C] location of headquarters and [D] ownership structure.
- Company Profiles: Elaborate profiles of prominent players engaged in the offshore energy storage market, providing details on [A] location of headquarters, [B] company size, [C] company mission, [D] company footprint, [E] management team, [F] contact details, [G] financial information, [H] operating business segments, [I] service / product portfolio, [J] moat analysis, [K] recent developments, and an informed future outlook.
- Megatrends: An evaluation of ongoing megatrends in the offshore energy storage industry.
- Patent Analysis: An insightful analysis of patents filed / granted in the offshore energy storage domain, based on relevant parameters, including [A] type of patent, [B] patent publication year, [C] patent age and [D] leading players.
- Porter’s Five Forces Analysis: An analysis of five competitive forces prevailing in the offshore energy storage market, including threats of new entrants, bargaining power of buyers, bargaining power of suppliers, threats of substitute products and rivalry among existing competitors.
- SWOT Analysis: An insightful SWOT framework, highlighting the strengths, weaknesses, opportunities and threats in the domain. Additionally, it provides Harvey ball analysis, highlighting the relative impact of each SWOT parameter.
- Value Chain Analysis: A comprehensive analysis of the value chain, providing information on the different phases and stakeholders involved in the offshore energy storage market.
KEY QUESTIONS ANSWERED IN THIS REPORT
- How many companies are currently engaged in offshore energy storage market?
- Which are the leading companies in this market?
- What factors are likely to influence the evolution of this market?
- What is the current and future market size?
- What is the CAGR of this market?
- How is the current and future market opportunity likely to be distributed across key market segments?
REASONS TO BUY THIS REPORT
- The report provides a comprehensive market analysis, offering detailed revenue projections of the overall market and its specific sub-segments. This information is valuable to both established market leaders and emerging entrants.
- Stakeholders can leverage the report to gain a deeper understanding of the competitive dynamics within the market. By analyzing the competitive landscape, businesses can make informed decisions to optimize their market positioning and develop effective go-to-market strategies.
- The report offers stakeholders a comprehensive overview of the market, including key drivers, barriers, opportunities, and challenges. This information empowers stakeholders to stay abreast of market trends and make data-driven decisions to capitalize on growth prospects.
ADDITIONAL BENEFITS
- Complimentary Excel Data Packs for all analytical modules in the report
- 15% free content customization
- Detailed report walkthrough session with the research team
- Free report update available for reports older than 6 months
Table of Contents
SECTION I: REPORT OVERVIEWSECTION II: QUALITATIVE INSIGHTS5. EXECUTIVE SUMMARY7. REGULATORY SCENARIOSECTION III: MARKET OVERVIEW8. COMPREHENSIVE DATABASE OF LEADING PLAYERS10. WHITE SPACE ANALYSIS11. COMPANY COMPETITIVENESS ANALYSISSECTION IV: COMPANY PROFILESSECTION V: MARKET TRENDS14. MEGA TRENDS ANALYSIS15. UNMET NEED ANALYSIS16. PATENT ANALYSISSECTION VI: MARKET OPPORTUNITY ANALYSIS32. ADJACENT MARKET ANALYSISSECTION VII: STRATEGIC TOOLS33. KEY WINNING STRATEGIES34. PORTER’S FIVE FORCES ANALYSIS35. SWOT ANALYSIS36. VALUE CHAIN ANALYSISSECTION VIII: OTHER EXCLUSIVE INSIGHTS38. INSIGHTS FROM PRIMARY RESEARCH39. REPORT CONCLUSIONSECTION IX: APPENDIX40. TABULATED DATA41. LIST OF COMPANIES AND ORGANIZATIONS42. CUSTOMIZATION OPPORTUNITIES43. SUBSCRIPTION SERVICES44. AUTHOR DETAILS
1. PREFACE
2. RESEARCH METHODOLOGY
3. MARKET DYNAMICS
4. MACRO-ECONOMIC INDICATORS
6. INTRODUCTION
9. COMPETITIVE LANDSCAPE
12. STARTUP ECOSYSTEM IN THE OFFSHORE ENERGY STORAGE MARKET
13. COMPANY PROFILES
17. RECENT DEVELOPMENTS
18. GLOBAL OFFSHORE ENERGY STORAGE MARKET
19. MARKET OPPORTUNITIES BASED ON TYPE OF OFFSHORE ENERGY STORAGE
20. MARKET OPPORTUNITIES BASED ON TYPE OF SOURCE
21. MARKET OPPORTUNITIES BASED ON TYPE OF APPLICATION
22. MARKET OPPORTUNITIES BASED ON TYPE OF STORAGE SYSTEM
23. MARKET OPPORTUNITIES BASED ON END-USER
24. MARKET OPPORTUNITIES BASED ON TYPE OF ENTERPRISE
25. MARKET OPPORTUNITIES FOR OFFSHORE ENERGY STORAGE IN NORTH AMERICA
26. MARKET OPPORTUNITIES FOR OFFSHORE ENERGY STORAGE IN EUROPE
27. MARKET OPPORTUNITIES FOR OFFSHORE ENERGY STORAGE IN ASIA
28. MARKET OPPORTUNITIES FOR OFFSHORE ENERGY STORAGE IN MIDDLE EAST AND NORTH AFRICA (MENA)
29. MARKET OPPORTUNITIES FOR OFFSHORE ENERGY STORAGE IN LATIN AMERICA
30. MARKET OPPORTUNITIES FOR OFFSHORE ENERGY STORAGE IN REST OF THE WORLD
31. MARKET CONCENTRATION ANALYSIS: DISTRIBUTION BY LEADING PLAYERS
37. ROOTS STRATEGIC RECOMMENDATIONS
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- ABB
- Ameresco
- E.ON Energy
- Energy Vault
- EnerSys
- FLASC B.V.
- General Electric
- HDF Energy
- Highview Power
- Johnson Controls
- LG Chem
- Ørsted A/S
- Panasonic
- Schneider Electric
- Siemens
- SolarEdge
- Stornetic
- Wärtsilä
Methodology
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 168 |
| Published | October 2025 |
| Forecast Period | 2025 - 2035 |
| Estimated Market Value ( USD | $ 354 Million |
| Forecasted Market Value ( USD | $ 1590 Million |
| Compound Annual Growth Rate | 14.6% |
| Regions Covered | Global |
