The Market Reports

Synopsis
The global market for Vessel Energy Storage System was estimated to be worth US$ 165 million in 2024 and is forecast to a readjusted size of US$ 372 million by 2031 with a CAGR of 12.8% during the forecast period 2025-2031.
This report provides a comprehensive assessment of recent tariff adjustments and international strategic countermeasures on Vessel Energy Storage System cross-border industrial footprints, capital allocation patterns, regional economic interdependencies, and supply chain reconfigurations.
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.
This report aims to provide a comprehensive presentation of the global market for Vessel Energy Storage System, focusing on the total sales volume, sales revenue, price, key companies market share and ranking, together with an analysis of Vessel Energy Storage System by region & country, by Type, and by Application.
The Vessel Energy Storage System market size, estimations, and forecasts are provided in terms of sales volume (MWh) and sales revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Vessel Energy Storage System.
Market Segmentation
By Company
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
Segment by Type
Lithium Battery System
Lead-Acid Battery System
Others
Segment by Application
Cruise and Ferry
Offshore Vessel
Merchant
Others
By Region
North America
United States
Canada
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia-Pacific
Europe
Germany
France
U.K.
Italy
Netherlands
Nordic Countries
Rest of Europe
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, global total market size (value, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 2: Detailed analysis of Vessel Energy Storage System manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Sales, revenue of Vessel Energy Storage System in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 6: Sales, revenue of Vessel Energy Storage System in country level. It provides sigmate data by Type, and by Application for each country/region.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.

Index