The global vessel energy storage system market is expected to grow at a CAGR of around 8.5% during the forecast period, from 2021 to 2030. The market is driven by the increasing demand for renewable energy and the need for efficient power management systems on vessels. The increasing demand for renewable energy has led to an increase in investments in this sector, which has resulted in an increased production of solar panels and wind turbines. This has led to a decrease in prices of these products, which has increased their adoption rates across various industries such as transportation and marine vessels. The less than 1MWh segment accounted for the largest share of the global vessel energy storage system market in 2018, followed by 3MWh segment and more than 3MWh segment respectively. The less than 1MWh segment is expected to continue its dominance throughout the forecast period due to its low cost per unit capacity ratio as compared with other segments such as 3MWh and more than 3MWh segments.
- The increasing demand for renewable energy sources is driving the growth of the vessel energy storage system market.
- The need to reduce carbon emissions and increase efficiency in power generation is also driving the growth of this market.
- The increasing number of electric vehicles and their charging stations are also driving the growth of this market as they require a lot more power than conventional vehicles, which will lead to an increased demand for vessel energy storage systems in order to meet that demand.
- Increasing investments by governments and private companies into research and development activities related to renewable energies are also fueling the growth of this market as they are looking for new ways to generate clean power without relying on fossil fuels or nuclear reactors, which have been proven not only harmful but unsustainable in terms of resources available on Earth, such as coal or uranium ore deposits that can be mined out at some point in time if we continue mining them at current rates without any regard for sustainability issues related to these resources;.
- Increasing awareness about climate change among people is another factor that will drive the growth of this market because it has been proven that climate change has a direct impact on our environment, including natural disasters such as floods or droughts, which can lead to food shortages due to lack of water availability or crop failures due to extreme temperatures; therefore people are becoming more aware about how their actions affect not only themselves but others around them too.
Industry Growth Insights published a new data on “Vessel Energy Storage System Market”. The research report is titled “Vessel Energy Storage System Market research by Types (Less than 1MWh, 1-3MWh, More than 3MWh), By Applications (Cruise and Ferry, Offshore Vessel, Merchant, Others), By Players/Companies Corvus, PBES, SAFT, EST-Floattech, MG, ZEM AS, Leclanché, Magnus Marin, Siemens”.
Scope Of The Report
Report Attributes
Report Details
Report Title
Vessel Energy Storage System Market Research Report
By Type
Less than 1MWh, 1-3MWh, More than 3MWh
By Application
Cruise and Ferry, Offshore Vessel, Merchant, Others
By Companies
Corvus, PBES, SAFT, EST-Floattech, MG, ZEM AS, Leclanché, Magnus Marin, Siemens
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
234
Number of Tables & Figures
164
Customization Available
Yes, the report can be customized as per your need.
Global Vessel Energy Storage System Market Report Segments:
The global Vessel Energy Storage System market is segmented on the basis of:
Types
Less than 1MWh, 1-3MWh, More than 3MWh
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Cruise and Ferry, Offshore Vessel, Merchant, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Corvus
- PBES
- SAFT
- EST-Floattech
- MG
- ZEM AS
- Leclanché
- Magnus Marin
- Siemens
Highlights of The Vessel Energy Storage System Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Less than 1MWh
- 1-3MWh
- More than 3MWh
- By Application:
- Cruise and Ferry
- Offshore Vessel
- Merchant
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Vessel Energy Storage System Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A Vessel Energy Storage System (VESS) is a type of energy storage system that uses vessels to store energy. The vessels can be used to store different types of energy, such as solar, wind, or hydroelectric power. VESS systems are often used to help stabilize the grid and provide backup power.
Some of the major companies in the vessel energy storage system market are Corvus, PBES, SAFT, EST-Floattech, MG, ZEM AS, LeclanchƒÂ©, Magnus Marin, Siemens.
The vessel energy storage system market is expected to register a CAGR of 8.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Vessel Energy Storage System Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Vessel Energy Storage System Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Vessel Energy Storage System Market - Supply Chain
4.5. Global Vessel Energy Storage System Market Forecast
4.5.1. Vessel Energy Storage System Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Vessel Energy Storage System Market Size (000 Units) and Y-o-Y Growth
4.5.3. Vessel Energy Storage System Market Absolute $ Opportunity
5. Global Vessel Energy Storage System Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Vessel Energy Storage System Market Size and Volume Forecast by Type
5.3.1. Less than 1MWh
5.3.2. 1-3MWh
5.3.3. More than 3MWh
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Vessel Energy Storage System Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Vessel Energy Storage System Market Size and Volume Forecast by Application
6.3.1. Cruise and Ferry
6.3.2. Offshore Vessel
6.3.3. Merchant
6.3.4. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Vessel Energy Storage System Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Vessel Energy Storage System Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Vessel Energy Storage System Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Vessel Energy Storage System Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Vessel Energy Storage System Demand Share Forecast, 2019-2026
9. North America Vessel Energy Storage System Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Vessel Energy Storage System Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Vessel Energy Storage System Market Size and Volume Forecast by Application
9.4.1. Cruise and Ferry
9.4.2. Offshore Vessel
9.4.3. Merchant
9.4.4. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Vessel Energy Storage System Market Size and Volume Forecast by Type
9.7.1. Less than 1MWh
9.7.2. 1-3MWh
9.7.3. More than 3MWh
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Vessel Energy Storage System Demand Share Forecast, 2019-2026
10. Latin America Vessel Energy Storage System Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Vessel Energy Storage System Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Vessel Energy Storage System Market Size and Volume Forecast by Application
10.4.1. Cruise and Ferry
10.4.2. Offshore Vessel
10.4.3. Merchant
10.4.4. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Vessel Energy Storage System Market Size and Volume Forecast by Type
10.7.1. Less than 1MWh
10.7.2. 1-3MWh
10.7.3. More than 3MWh
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Vessel Energy Storage System Demand Share Forecast, 2019-2026
11. Europe Vessel Energy Storage System Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Vessel Energy Storage System Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Vessel Energy Storage System Market Size and Volume Forecast by Application
11.4.1. Cruise and Ferry
11.4.2. Offshore Vessel
11.4.3. Merchant
11.4.4. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Vessel Energy Storage System Market Size and Volume Forecast by Type
11.7.1. Less than 1MWh
11.7.2. 1-3MWh
11.7.3. More than 3MWh
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Vessel Energy Storage System Demand Share, 2019-2026
12. Asia Pacific Vessel Energy Storage System Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Vessel Energy Storage System Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Vessel Energy Storage System Market Size and Volume Forecast by Application
12.4.1. Cruise and Ferry
12.4.2. Offshore Vessel
12.4.3. Merchant
12.4.4. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Vessel Energy Storage System Market Size and Volume Forecast by Type
12.7.1. Less than 1MWh
12.7.2. 1-3MWh
12.7.3. More than 3MWh
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Vessel Energy Storage System Demand Share, 2019-2026
13. Middle East & Africa Vessel Energy Storage System Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Vessel Energy Storage System Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Vessel Energy Storage System Market Size and Volume Forecast by Application
13.4.1. Cruise and Ferry
13.4.2. Offshore Vessel
13.4.3. Merchant
13.4.4. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Vessel Energy Storage System Market Size and Volume Forecast by Type
13.7.1. Less than 1MWh
13.7.2. 1-3MWh
13.7.3. More than 3MWh
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Vessel Energy Storage System Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Vessel Energy Storage System Market: Market Share Analysis
14.2. Vessel Energy Storage System Distributors and Customers
14.3. Vessel Energy Storage System Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Corvus
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. PBES
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. SAFT
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. EST-Floattech
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. MG
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. ZEM AS
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Leclanché
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Magnus Marin
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Siemens
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook