Global Vessel Energy Storage System Market Growth 2025-2031

Global Vessel Energy Storage System Market Growth 2025-2031

The global Vessel Energy Storage System market size is predicted to grow from US$ 666 million in 2025 to US$ 1135 million in 2031; it is expected to grow at a CAGR of 9.3% from 2025 to 2031.

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 2024, providing a comprehensive analysis by region and market sector of projected Vessel Energy Storage System sales for 2025 through 2031. 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?

Please note: The report will take approximately 2 business days to prepare and deliver.