Offshore Energy Storage Market 2023 in-Depth Analysis by Prominent Players like ABB, General Electric, Siemens, Deepwater Wind, Duke Energy, LG Chem, Johnson Controls, SolarEdge, and Tesla

The global offshore energy storage market is projected to grow at a high rate during the forecast period, mainly due to the growing energy demand and increasing investment in renewable energy sources such as solar and wind. In August 2018, Statoil (Norway) invested USD 12 billion in renewable energy projects which would help to drive strong growth in offshore energy storage market. Moreover, the South Asian companies are mainly focusing on batteries as a technology which is expected to cost up to USD 1.5 billion. This would in turn accelerate the growth of battery energy storage market in offshore sector.

Prominent Players:

The top key players of global offshore energy storage market are ABB (Switzerland), General Electric (US), Siemens (Germany), Deepwater Wind (US), Duke Energy (US), E.ON (Germany), LG Chem (South Korea), Johnson Controls (US), SolarEdge (Israel), and Tesla (US)

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Market Highlights:

Offshore energy storage ensures continuity of power and minimize carbon dioxide emissions. It also involves storing the energy produced either by wind turbines or offhsore oil & gas plant. For offshore wind energy storage purposes, mainly two types of technologies are used, namely, pumped storage system and the compressed air energy storage systems. Offshore energy storage aims to provide reliable electrical network by providing clean and dispatchable power. On the other hand, new infrastructure is being developed to reuse the existing infrastructure for oil & gas industry. There are various sources such as battery storage which is designed to ensure maximum reliability and safety.

Segmental Analysis:

Global Offshore Energy Storage Market, By Sources

• Lithium Ion
• Lead Acid
• Sodium Chemistry
• Flow Vanadium
• Flow Zinc
• Vessel

Global Offshore Energy Storage Market, By End-User

• Offshore wind
• Oil & Gas

Global Offshore Energy Storage Market, By Regions

• North America
• Asia-Pacific
• Europe
• Middle East
• Africa
• South America

Table of Contents

1. Executive Summary
2. Market Introduction
2.1. Market Definition
2.2. Scope of The Study
2.3. Market Structure
3. Research Methodology
3.1. Primary Research
3.2. Secondary Research
3.3. Market Size Estimation
3.4. Forecast Model
3.5. List of Assumptions
4. Market Dynamics
4.1. Drivers
4.1.1. Investment In Oil & Gas And Renewable Sectors
4.1.2. Introduction Of Supportive Policies And Energy Storage Subsidies
4.2. Restraints
4.2.1. High Capital Investment Required For The Deployment
4.3. Opportunities
4.3.1. Government Initiatives to Reduce Carbon Emissions
4.3.2. Aging Of Offshore Infrastructure Leading to Replacement And Decommissions
4.4. Porter’s Five Forces Analysis
4.4.1. Threat of New Entrants
4.4.2. Bargaining Power of Buyers
4.4.3. Bargaining Power of Suppliers
4.4.4. Threat of Substitutes
4.4.5. Intensity of Rivalry
4.5. Value Chain/Supply Chain Analysis
Continued……

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