Offshore Energy Storage Market was valued at US$ 256.27 Mn. in 2022 and the total revenue is expected to grow at 9.12% through 2023 to 2029, reaching US$ 472.10 Mn.Offshore Energy Storage Market Overview
Offshore energy storage states to store the energy produced by offshore oil & gas storage or wind turbines systems. Tapping the huge offshore resources will be significant to meet future energy needs; however, the dynamics of offshore energy are shifting fast.To know about the Research Methodology :- Request Free Sample Report The report has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis. The energy produced offshore is the main component of worldwide oil and gas supply and could offer an essential source of renewable electricity. Resources are huge, but offshore projects have to show their worth in a policy context and changing market scenarios, among a variety of forces at world’s oceans. Thanks to increasing offshore investments in oil & gas and renewable energy industry. Such as, in 2018, Shell Company declared their investment up to US$ 2 Bn. in new energies split in solar, power, gas, and wind generation by 2022. However, the offshore energy storage is high capital venture required for the organization is the major factor hampering the growth of the market during 2023-2029. The global market for energy storage is set to produce 13- fold to 230 GW by 2025 with the total energy storage asset projected to upsurge from US$ 12 billion in 2022. As per the DNV GL‘s Energy Transition Outlook, By 2050, nearly 12% of world primary energy supply will come from wind energy, of which 20% will come from offshore wind. Moreover, offshore wind is rising 85-fold (2050 Vs. 2017). As electricity consumption rushes, floating offshore and bottom fixed windfarms will play a progressively important role to confirm that the people can meet this demand.
Offshore Energy Storage Market Segment Analysis
By Source, the lithium-ion segment is expected to continue to hold the largest xx% share in offshore energy storage market owing to technological advancements are getting executed in lithium-ion batteries. By end-user, Offshore wind segment was valued US$ xx Mn. in 2020 and is expected to reach a value of US$ xx Mn. by 2029, with a CAGR of 22% during the forecast period. This is attributed to growing investment in renewable energy across the world. The oil and Gas segment is expected to account for the largest xx% market share by 2029. Over 25% of today’s oil and gas supply is made offshore, mostly in the MEA, the North Sea, Brazil, and the Caspian Sea. However offshore oil production has been comparatively stable since 2000, natural gas production from offshore fields has increased by 50% over the same period. Offshore electricity generation, mostly from wind, has increased with a high pace in forecast period, particularly in the comparatively shallow shore waters of Europe’s the North Sea.Offshore Energy Storage Market Regional Analysis
By region, APAC offshore energy storage market was valued US$ xx Mn. in 2022 and is expected to reach a value of US$ xx Mn. by 2029, with a CAGR of 56% during 2023-2029. Clean energy consumption and Technological advancement would drive wind power deployment and open opportunities in the developing markets of APAC, especially in economies like Japan, China, and South Korea as they are observing for an alternative source of energy to expand their energy mix to decrease CO2 emissions. The MMR reports cover key developments in the offshore energy storage market as organic and inorganic growth strategies. Such as, in 2017, ABB Company launched an inventive combining battery, microgrid, and flywheel-based storage technologies designed to test the scalability and expand the power stability for nearby 300,000 people in Anchorage, Alaska, USA. The objective of the report is to present a comprehensive analysis of the Global Offshore Energy Storage Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Offshore Energy Storage Market dynamics, structure by analyzing the market segments and projects the Global Offshore Energy Storage Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Offshore Energy Storage Market make the report investor’s guide.Global Offshore Energy Storage Market Scope Inquire before buying
Global Offshore Energy Storage Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2017 to 2022 Market Size in 2022: US $ 256.27 Mn. Forecast Period 2023 to 2029 CAGR: 9.12% Market Size in 2029: US $ 472.10 Mn. Segments Covered: by Sources • Lithium-Ion • Lead Acid • Sodium Chemistry • Flow vanadium • Flow Zinc • Vessel by End Users •Offshore Wind • Oil and Gas Offshore Energy Storage Market, by Region
• North America (United States, Canada and Mexico) • Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) • Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) • Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) • South America (Brazil, Argentina Rest of South America)Offshore Energy Storage Market, Key players are:
• 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 Frequently Asked Questions: 1. Which region has the largest share in Global Offshore Energy Storage Market ? Ans: Asia Pacific region held the highest share in 2022. 2. What is the growth rate of Global Offshore Energy Storage Market ? Ans: The Global Offshore Energy Storage Market is growing at a CAGR of 9.12% during forecasting period 2023-2029. 3. What is scope of the Global Offshore Energy Storage Market report? Ans: Global Offshore Energy Storage Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period. 4. Who are the key players in Global Offshore Energy Storage Market ? Ans: The important key players in the Global Offshore Energy Storage Market are – 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. 5. What is the study period of this Market? Ans: The Global Offshore Energy Storage Market is studied from 2022 to 2029.
1. Offshore Energy Storage Market Introduction 1.1. Study Assumption and Market Definition 1.2. Scope of the Study 1.3. Executive Summary 2. Offshore Energy Storage Market: Dynamics 2.1. Offshore Energy Storage Market Trends by Region 2.1.1. North America Offshore Energy Storage Market Trends 2.1.2. Europe Offshore Energy Storage Market Trends 2.1.3. Asia Pacific Offshore Energy Storage Market Trends 2.1.4. Middle East and Africa Offshore Energy Storage Market Trends 2.1.5. South America Offshore Energy Storage Market Trends 2.2. Offshore Energy Storage Market Dynamics by Region 2.2.1. North America 2.2.1.1. North America Offshore Energy Storage Market Drivers 2.2.1.2. North America Offshore Energy Storage Market Restraints 2.2.1.3. North America Offshore Energy Storage Market Opportunities 2.2.1.4. North America Offshore Energy Storage Market Challenges 2.2.2. Europe 2.2.2.1. Europe Offshore Energy Storage Market Drivers 2.2.2.2. Europe Offshore Energy Storage Market Restraints 2.2.2.3. Europe Offshore Energy Storage Market Opportunities 2.2.2.4. Europe Offshore Energy Storage Market Challenges 2.2.3. Asia Pacific 2.2.3.1. Asia Pacific Offshore Energy Storage Market Drivers 2.2.3.2. Asia Pacific Offshore Energy Storage Market Restraints 2.2.3.3. Asia Pacific Offshore Energy Storage Market Opportunities 2.2.3.4. Asia Pacific Offshore Energy Storage Market Challenges 2.2.4. Middle East and Africa 2.2.4.1. Middle East and Africa Offshore Energy Storage Market Drivers 2.2.4.2. Middle East and Africa Offshore Energy Storage Market Restraints 2.2.4.3. Middle East and Africa Offshore Energy Storage Market Opportunities 2.2.4.4. Middle East and Africa Offshore Energy Storage Market Challenges 2.2.5. South America 2.2.5.1. South America Offshore Energy Storage Market Drivers 2.2.5.2. South America Offshore Energy Storage Market Restraints 2.2.5.3. South America Offshore Energy Storage Market Opportunities 2.2.5.4. South America Offshore Energy Storage Market Challenges 2.3. PORTER’s Five Forces Analysis 2.4. PESTLE Analysis 2.5. Technology Roadmap 2.6. Regulatory Landscape by Region 2.6.1. North America 2.6.2. Europe 2.6.3. Asia Pacific 2.6.4. Middle East and Africa 2.6.5. South America 2.7. Key Opinion Leader Analysis For Offshore Energy Storage Industry 2.8. Analysis of Government Schemes and Initiatives For Offshore Energy Storage Industry 2.9. Offshore Energy Storage Market Trade Analysis 2.10. The Global Pandemic Impact on Offshore Energy Storage Market 3. Offshore Energy Storage Market: Global Market Size and Forecast by Segmentation by Demand and Supply Side (by Value in USD Million) 2022-2029 3.1. Offshore Energy Storage Market Size and Forecast, by Sources (2022-2029) 3.1.1. Lithium-Ion 3.1.2. Lead Acid 3.1.3. Sodium Chemistry 3.1.4. Flow vanadium 3.1.5. Flow Zinc 3.1.6. Vessel 3.2. Offshore Energy Storage Market Size and Forecast, by End User (2022-2029) 3.2.1. Offshore Wind 3.2.2. Oil and Gas 3.3. Offshore Energy Storage Market Size and Forecast, by Region (2022-2029) 3.3.1. North America 3.3.2. Europe 3.3.3. Asia Pacific 3.3.4. Middle East and Africa 3.3.5. South America 4. North America Offshore Energy Storage Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 4.1. North America Offshore Energy Storage Market Size and Forecast, by Sources (2022-2029) 4.1.1. Lithium-Ion 4.1.2. Lead Acid 4.1.3. Sodium Chemistry 4.1.4. Flow vanadium 4.1.5. Flow Zinc 4.1.6. Vessel 4.2. North America Offshore Energy Storage Market Size and Forecast, by End User (2022-2029) 4.2.1. Offshore Wind 4.2.2. Oil and Gas 4.3. North America Offshore Energy Storage Market Size and Forecast, by Country (2022-2029) 4.3.1. United States 4.3.1.1. United States Offshore Energy Storage Market Size and Forecast, by Sources (2022-2029) 4.3.1.1.1. Lithium-Ion 4.3.1.1.2. Lead Acid 4.3.1.1.3. Sodium Chemistry 4.3.1.1.4. Flow vanadium 4.3.1.1.5. Flow Zinc 4.3.1.1.6. Vessel 4.3.1.2. United States Offshore Energy Storage Market Size and Forecast, by End User (2022-2029) 4.3.1.2.1. Offshore Wind 4.3.1.2.2. Oil and Gas 4.3.2. Canada 4.3.2.1. Canada Offshore Energy Storage Market Size and Forecast, by Sources (2022-2029) 4.3.2.1.1. Lithium-Ion 4.3.2.1.2. Lead Acid 4.3.2.1.3. Sodium Chemistry 4.3.2.1.4. Flow vanadium 4.3.2.1.5. Flow Zinc 4.3.2.1.6. Vessel 4.3.2.2. Canada Offshore Energy Storage Market Size and Forecast, by End User (2022-2029) 4.3.2.2.1. Offshore Wind 4.3.2.2.2. Oil and Gas 4.3.3. Mexico 4.3.3.1. Mexico Offshore Energy Storage Market Size and Forecast, by Sources (2022-2029) 4.3.3.1.1. Lithium-Ion 4.3.3.1.2. Lead Acid 4.3.3.1.3. Sodium Chemistry 4.3.3.1.4. Flow vanadium 4.3.3.1.5. Flow Zinc 4.3.3.1.6. Vessel 4.3.3.2. Mexico Offshore Energy Storage Market Size and Forecast, by End User (2022-2029) 4.3.3.2.1. Offshore Wind 4.3.3.2.2. Oil and Gas 5. Europe Offshore Energy Storage Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 5.1. Europe Offshore Energy Storage Market Size and Forecast, by Sources (2022-2029) 5.2. Europe Offshore Energy Storage Market Size and Forecast, by End User (2022-2029) 5.3. Europe Offshore Energy Storage Market Size and Forecast, by Country (2022-2029) 5.3.1. United Kingdom 5.3.1.1. United Kingdom Offshore Energy Storage Market Size and Forecast, by Sources (2022-2029) 5.3.1.2. United Kingdom Offshore Energy Storage Market Size and Forecast, by End User (2022-2029) 5.3.2. France 5.3.2.1. France Offshore Energy Storage Market Size and Forecast, by Sources (2022-2029) 5.3.2.2. France Offshore Energy Storage Market Size and Forecast, by End User (2022-2029) 5.3.3. Germany 5.3.3.1. Germany Offshore Energy Storage Market Size and Forecast, by Sources (2022-2029) 5.3.3.2. Germany Offshore Energy Storage Market Size and Forecast, by End User (2022-2029) 5.3.4. Italy 5.3.4.1. Italy Offshore Energy Storage Market Size and Forecast, by Sources (2022-2029) 5.3.4.2. Italy Offshore Energy Storage Market Size and Forecast, by End User (2022-2029) 5.3.5. Spain 5.3.5.1. Spain Offshore Energy Storage Market Size and Forecast, by Sources (2022-2029) 5.3.5.2. Spain Offshore Energy Storage Market Size and Forecast, by End User (2022-2029) 5.3.6. Sweden 5.3.6.1. Sweden Offshore Energy Storage Market Size and Forecast, by Sources (2022-2029) 5.3.6.2. Sweden Offshore Energy Storage Market Size and Forecast, by End User (2022-2029) 5.3.7. Austria 5.3.7.1. Austria Offshore Energy Storage Market Size and Forecast, by Sources (2022-2029) 5.3.7.2. Austria Offshore Energy Storage Market Size and Forecast, by End User (2022-2029) 5.3.8. Rest of Europe 5.3.8.1. Rest of Europe Offshore Energy Storage Market Size and Forecast, by Sources (2022-2029) 5.3.8.2. Rest of Europe Offshore Energy Storage Market Size and Forecast, by End User (2022-2029) 6. Asia Pacific Offshore Energy Storage Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 6.1. Asia Pacific Offshore Energy Storage Market Size and Forecast, by Sources (2022-2029) 6.2. Asia Pacific Offshore Energy Storage Market Size and Forecast, by End User (2022-2029) 6.3. Asia Pacific Offshore Energy Storage Market Size and Forecast, by Country (2022-2029) 6.3.1. China 6.3.1.1. China Offshore Energy Storage Market Size and Forecast, by Sources (2022-2029) 6.3.1.2. China Offshore Energy Storage Market Size and Forecast, by End User (2022-2029) 6.3.2. S Korea 6.3.2.1. S Korea Offshore Energy Storage Market Size and Forecast, by Sources (2022-2029) 6.3.2.2. S Korea Offshore Energy Storage Market Size and Forecast, by End User (2022-2029) 6.3.3. Japan 6.3.3.1. Japan Offshore Energy Storage Market Size and Forecast, by Sources (2022-2029) 6.3.3.2. Japan Offshore Energy Storage Market Size and Forecast, by End User (2022-2029) 6.3.4. India 6.3.4.1. India Offshore Energy Storage Market Size and Forecast, by Sources (2022-2029) 6.3.4.2. India Offshore Energy Storage Market Size and Forecast, by End User (2022-2029) 6.3.5. Australia 6.3.5.1. Australia Offshore Energy Storage Market Size and Forecast, by Sources (2022-2029) 6.3.5.2. Australia Offshore Energy Storage Market Size and Forecast, by End User (2022-2029) 6.3.6. Indonesia 6.3.6.1. Indonesia Offshore Energy Storage Market Size and Forecast, by Sources (2022-2029) 6.3.6.2. Indonesia Offshore Energy Storage Market Size and Forecast, by End User (2022-2029) 6.3.7. Malaysia 6.3.7.1. Malaysia Offshore Energy Storage Market Size and Forecast, by Sources (2022-2029) 6.3.7.2. Malaysia Offshore Energy Storage Market Size and Forecast, by End User (2022-2029) 6.3.8. Vietnam 6.3.8.1. Vietnam Offshore Energy Storage Market Size and Forecast, by Sources (2022-2029) 6.3.8.2. Vietnam Offshore Energy Storage Market Size and Forecast, by End User (2022-2029) 6.3.9. Taiwan 6.3.9.1. Taiwan Offshore Energy Storage Market Size and Forecast, by Sources (2022-2029) 6.3.9.2. Taiwan Offshore Energy Storage Market Size and Forecast, by End User (2022-2029) 6.3.10. Rest of Asia Pacific 6.3.10.1. Rest of Asia Pacific Offshore Energy Storage Market Size and Forecast, by Sources (2022-2029) 6.3.10.2. Rest of Asia Pacific Offshore Energy Storage Market Size and Forecast, by End User (2022-2029) 7. Middle East and Africa Offshore Energy Storage Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 7.1. Middle East and Africa Offshore Energy Storage Market Size and Forecast, by Sources (2022-2029) 7.2. Middle East and Africa Offshore Energy Storage Market Size and Forecast, by End User (2022-2029) 7.3. Middle East and Africa Offshore Energy Storage Market Size and Forecast, by Country (2022-2029) 7.3.1. South Africa 7.3.1.1. South Africa Offshore Energy Storage Market Size and Forecast, by Sources (2022-2029) 7.3.1.2. South Africa Offshore Energy Storage Market Size and Forecast, by End User (2022-2029) 7.3.2. GCC 7.3.2.1. GCC Offshore Energy Storage Market Size and Forecast, by Sources (2022-2029) 7.3.2.2. GCC Offshore Energy Storage Market Size and Forecast, by End User (2022-2029) 7.3.3. Nigeria 7.3.3.1. Nigeria Offshore Energy Storage Market Size and Forecast, by Sources (2022-2029) 7.3.3.2. Nigeria Offshore Energy Storage Market Size and Forecast, by End User (2022-2029) 7.3.4. Rest of ME&A 7.3.4.1. Rest of ME&A Offshore Energy Storage Market Size and Forecast, by Sources (2022-2029) 7.3.4.2. Rest of ME&A Offshore Energy Storage Market Size and Forecast, by End User (2022-2029) 8. South America Offshore Energy Storage Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 8.1. South America Offshore Energy Storage Market Size and Forecast, by Sources (2022-2029) 8.2. South America Offshore Energy Storage Market Size and Forecast, by End User (2022-2029) 8.3. South America Offshore Energy Storage Market Size and Forecast, by Country (2022-2029) 8.3.1. Brazil 8.3.1.1. Brazil Offshore Energy Storage Market Size and Forecast, by Sources (2022-2029) 8.3.1.2. Brazil Offshore Energy Storage Market Size and Forecast, by End User (2022-2029) 8.3.2. Argentina 8.3.2.1. Argentina Offshore Energy Storage Market Size and Forecast, by Sources (2022-2029) 8.3.2.2. Argentina Offshore Energy Storage Market Size and Forecast, by End User (2022-2029) 8.3.3. Rest Of South America 8.3.3.1. Rest Of South America Offshore Energy Storage Market Size and Forecast, by Sources (2022-2029) 8.3.3.2. Rest Of South America Offshore Energy Storage Market Size and Forecast, by End User (2022-2029) 9. Global Offshore Energy Storage Market: Competitive Landscape 9.1. MMR Competition Matrix 9.2. Competitive Landscape 9.3. Key Players Benchmarking 9.3.1. Company Name 9.3.2. Business Segment 9.3.3. End-user Segment 9.3.4. Revenue (2022) 9.3.5. Company Locations 9.4. Leading Offshore Energy Storage Market Companies, by market capitalization 9.5. Market Structure 9.5.1. Market Leaders 9.5.2. Market Followers 9.5.3. Emerging Players 9.6. Mergers and Acquisitions Details 10. Company Profile: Key Players 10.1. ABB (Switzerland) 10.1.1. Company Overview 10.1.2. Business Portfolio 10.1.3. Financial Overview 10.1.4. SWOT Analysis 10.1.5. Strategic Analysis 10.1.6. Scale of Operation (small, medium, and large) 10.1.7. Details on Partnership 10.1.8. Regulatory Accreditations and Certifications Received by Them 10.1.9. Awards Received by the Firm 10.1.10. Recent Developments 10.2. General Electric (U.S) 10.3. Siemens (Germany) 10.4. Deepwater Wind (U.S) 10.5. Duke Energy (U.S) 10.6. E.ON (Germany) 10.7. LG Chem (South Korea) 10.8. Johnson Controls (U.S) 10.9. SolarEdge (Israel) 10.10. Tesla (U.S) 10.11. Toshiba corporation (Japan) 10.12. Magnus Marin 10.13. EST-Floattech 10.14. Leclanché 10.15. ZEM AS 10.16. Corvus 11. Key Findings 12. Industry Recommendations 13. Offshore Energy Storage Market: Research Methodology 14. Terms and Glossary