Offshore Energy Storage Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented, By Technology, By Source, By End-User, By Region, By Competition, 2020-2030F

Description

The Global Offshore Energy Storage Market was valued at USD 2.78 billion in 2024 and is projected to reach USD 5.13 billion by 2030, expanding at a CAGR of 10.57%. This market encompasses the technologies and systems developed to store energy generated from offshore sources-mainly offshore wind, wave, and tidal power-for optimized, reliable, and flexible energy use. Offshore energy storage solutions include lithium-ion batteries, flywheels, flow batteries, compressed air energy storage, hydrogen systems, and gravity-based mechanisms, deployed either on offshore platforms, floating units, or subsea structures. These storage systems are integral to stabilizing intermittent energy supply, enhancing grid reliability, reducing transmission losses, and supporting the transition to clean energy systems in regions relying heavily on marine-based power generation.

Market Overview
Forecast Period	2026-2030
Market Size 2024	USD 2.78 Billion
Market Size 2030	USD 5.13 Billion
CAGR 2025-2030	10.57%
Fastest Growing Segment	Compressed Air Energy Storage
Largest Market	North America

Key Market Drivers

Rising Integration of Offshore Renewable Energy Sources

The growing deployment of offshore renewable energy sources-primarily wind and tidal power-is a major catalyst for the offshore energy storage market. Offshore renewable systems often generate intermittent power, requiring reliable storage solutions to balance output and stabilize electricity supply to the grid. Energy storage systems, such as BESS and compressed air solutions, help manage fluctuations by storing surplus electricity and releasing it during periods of low production. This enables continuous power delivery and reduces the dependency on fossil-fueled backup systems. Additionally, integrating storage systems near offshore generation sites minimizes transmission losses and operational complexity, especially in remote or deep-sea locations. As nations expand their offshore wind capacity to meet carbon neutrality targets, the demand for offshore energy storage systems is anticipated to grow sharply. Leading markets like the UK, Germany, and China are increasingly incorporating storage in offshore energy strategies, ensuring enhanced grid stability and energy resilience.

Key Market Challenges

High Capital Expenditure and Cost Competitiveness

The offshore energy storage sector faces significant financial barriers due to the high capital costs associated with system deployment, operation, and maintenance. These solutions must be engineered for durability in extreme marine environments, involving specialized construction, corrosion-resistant materials, and advanced monitoring technologies. Costs are further elevated by the need for skilled labor, logistics, and remote installation techniques. Compared to onshore alternatives, offshore systems remain less cost-effective due to higher levelized costs of storage (LCOS), limiting their commercial appeal. Additionally, challenges in securing project financing, complex regulatory approvals, and lengthy permitting processes further constrain market scalability. Developers are cautious about investing in offshore storage without clearly defined return models, particularly as most installations are still in the pilot or early adoption phase. These economic and regulatory challenges collectively impede the widespread adoption of offshore energy storage technologies.

Key Market Trends

Growing Integration of Offshore Renewable Energy with Hybrid Storage Systems

An emerging trend in the offshore energy storage market is the deployment of hybrid storage systems alongside offshore renewables, particularly wind energy. These hybrid solutions, which combine multiple technologies like lithium-ion batteries, flow batteries, and flywheels, enable operators to manage power intermittency, improve grid reliability, and optimize energy delivery. As offshore energy projects expand, especially in regions like Europe and East Asia, hybrid storage offers enhanced performance in stabilizing power supply and enabling ancillary services such as frequency regulation and black-start capabilities. These systems are increasingly supported by energy management software and modular designs, making them adaptable to varying marine conditions. Integration with wave and tidal energy sources is also gaining traction, creating multipurpose offshore platforms with smart, flexible storage infrastructures. Pilot projects in countries like the UK and South Korea demonstrate the potential of these hybrid systems to shape future offshore power systems. This trend is expected to define the evolution of the offshore energy storage landscape, supporting resilience, efficiency, and grid compatibility.

Key Market Players

GE Vernova
ABB Ltd
LG Chem Ltd.
Tesla, Inc.
Panasonic Corporation
Schneider Electric SE
SolarEdge Technologies Inc.
Eos Energy Storage LLC
Ameresco, Inc.
EnerSys

Report Scope:

In this report, the Global Offshore Energy Storage Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Offshore Energy Storage Market, By Technology:

Pumped Hydro Storage
Compressed Air Energy Storage
Flywheel Energy Storage
Battery Energy Storage

Offshore Energy Storage Market, By Source:

Lithium Ion
Lead Acid

Offshore Energy Storage Market, By End-User:

Offshore Wind
Oil & Gas

Offshore Energy Storage Market, By Region:

North America
- United States
- Canada
- Mexico
Europe
- France
- United Kingdom
- Italy
- Germany
- Spain
Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
South America
- Brazil
- Argentina
- Colombia
Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Kuwait
- Turkey

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the Global Offshore Energy Storage Market.

Available Customizations:

Global Offshore Energy Storage Market report with the given Market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

1. Product Overview

1.1. Market Definition
1.2. Scope of the Market
- 1.2.1. Markets Covered
- 1.2.2. Years Considered for Study
1.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Formulation of the Scope
2.4. Assumptions and Limitations
2.5. Sources of Research
- 2.5.1. Secondary Research
- 2.5.2. Primary Research
2.6. Approach for the Market Study
- 2.6.1. The Bottom-Up Approach
- 2.6.2. The Top-Down Approach
2.7. Methodology Followed for Calculation of Market Size & Market Shares
2.8. Forecasting Methodology
- 2.8.1. Data Triangulation & Validation

3. Executive Summary

3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, and Trends

4. Voice of Customer

5. Global Offshore Energy Storage Market Outlook

5.1. Market Size & Forecast
- 5.1.1. By Value
5.2. Market Share & Forecast
- 5.2.1. By Technology (Pumped Hydro Storage, Compressed Air Energy Storage, Flywheel Energy Storage, Battery Energy Storage)
- 5.2.2. By Source (Lithium Ion, Lead Acid)
- 5.2.3. By End-User (Offshore Wind, Oil & Gas)
- 5.2.4. By Region
5.3. By Company (2024)
5.4. Market Map

6. North America Offshore Energy Storage Market Outlook

6.1. Market Size & Forecast
- 6.1.1. By Value
6.2. Market Share & Forecast
- 6.2.1. By Technology
- 6.2.2. By Source
- 6.2.3. By End-User
- 6.2.4. By Country
6.3. North America: Country Analysis
- 6.3.1. United States Offshore Energy Storage Market Outlook
  - 6.3.1.1. Market Size & Forecast
    - 6.3.1.1.1. By Value
  - 6.3.1.2. Market Share & Forecast
    - 6.3.1.2.1. By Technology
    - 6.3.1.2.2. By Source
    - 6.3.1.2.3. By End-User
- 6.3.2. Canada Offshore Energy Storage Market Outlook
  - 6.3.2.1. Market Size & Forecast
    - 6.3.2.1.1. By Value
  - 6.3.2.2. Market Share & Forecast
    - 6.3.2.2.1. By Technology
    - 6.3.2.2.2. By Source
    - 6.3.2.2.3. By End-User
- 6.3.3. Mexico Offshore Energy Storage Market Outlook
  - 6.3.3.1. Market Size & Forecast
    - 6.3.3.1.1. By Value
  - 6.3.3.2. Market Share & Forecast
    - 6.3.3.2.1. By Technology
    - 6.3.3.2.2. By Source
    - 6.3.3.2.3. By End-User

7. Europe Offshore Energy Storage Market Outlook

7.1. Market Size & Forecast
- 7.1.1. By Value
7.2. Market Share & Forecast
- 7.2.1. By Technology
- 7.2.2. By Source
- 7.2.3. By End-User
- 7.2.4. By Country
7.3. Europe: Country Analysis
- 7.3.1. Germany Offshore Energy Storage Market Outlook
  - 7.3.1.1. Market Size & Forecast
    - 7.3.1.1.1. By Value
  - 7.3.1.2. Market Share & Forecast
    - 7.3.1.2.1. By Technology
    - 7.3.1.2.2. By Source
    - 7.3.1.2.3. By End-User
- 7.3.2. United Kingdom Offshore Energy Storage Market Outlook
  - 7.3.2.1. Market Size & Forecast
    - 7.3.2.1.1. By Value
  - 7.3.2.2. Market Share & Forecast
    - 7.3.2.2.1. By Technology
    - 7.3.2.2.2. By Source
    - 7.3.2.2.3. By End-User
- 7.3.3. Italy Offshore Energy Storage Market Outlook
  - 7.3.3.1. Market Size & Forecast
    - 7.3.3.1.1. By Value
  - 7.3.3.2. Market Share & Forecast
    - 7.3.3.2.1. By Technology
    - 7.3.3.2.2. By Source
    - 7.3.3.2.3. By End-User
- 7.3.4. France Offshore Energy Storage Market Outlook
  - 7.3.4.1. Market Size & Forecast
    - 7.3.4.1.1. By Value
  - 7.3.4.2. Market Share & Forecast
    - 7.3.4.2.1. By Technology
    - 7.3.4.2.2. By Source
    - 7.3.4.2.3. By End-User
- 7.3.5. Spain Offshore Energy Storage Market Outlook
  - 7.3.5.1. Market Size & Forecast
    - 7.3.5.1.1. By Value
  - 7.3.5.2. Market Share & Forecast
    - 7.3.5.2.1. By Technology
    - 7.3.5.2.2. By Source
    - 7.3.5.2.3. By End-User

8. Asia-Pacific Offshore Energy Storage Market Outlook

8.1. Market Size & Forecast
- 8.1.1. By Value
8.2. Market Share & Forecast
- 8.2.1. By Technology
- 8.2.2. By Source
- 8.2.3. By End-User
- 8.2.4. By Country
8.3. Asia-Pacific: Country Analysis
- 8.3.1. China Offshore Energy Storage Market Outlook
  - 8.3.1.1. Market Size & Forecast
    - 8.3.1.1.1. By Value
  - 8.3.1.2. Market Share & Forecast
    - 8.3.1.2.1. By Technology
    - 8.3.1.2.2. By Source
    - 8.3.1.2.3. By End-User
- 8.3.2. India Offshore Energy Storage Market Outlook
  - 8.3.2.1. Market Size & Forecast
    - 8.3.2.1.1. By Value
  - 8.3.2.2. Market Share & Forecast
    - 8.3.2.2.1. By Technology
    - 8.3.2.2.2. By Source
    - 8.3.2.2.3. By End-User
- 8.3.3. Japan Offshore Energy Storage Market Outlook
  - 8.3.3.1. Market Size & Forecast
    - 8.3.3.1.1. By Value
  - 8.3.3.2. Market Share & Forecast
    - 8.3.3.2.1. By Technology
    - 8.3.3.2.2. By Source
    - 8.3.3.2.3. By End-User
- 8.3.4. South Korea Offshore Energy Storage Market Outlook
  - 8.3.4.1. Market Size & Forecast
    - 8.3.4.1.1. By Value
  - 8.3.4.2. Market Share & Forecast
    - 8.3.4.2.1. By Technology
    - 8.3.4.2.2. By Source
    - 8.3.4.2.3. By End-User
- 8.3.5. Australia Offshore Energy Storage Market Outlook
  - 8.3.5.1. Market Size & Forecast
    - 8.3.5.1.1. By Value
  - 8.3.5.2. Market Share & Forecast
    - 8.3.5.2.1. By Technology
    - 8.3.5.2.2. By Source
    - 8.3.5.2.3. By End-User

9. South America Offshore Energy Storage Market Outlook

9.1. Market Size & Forecast
- 9.1.1. By Value
9.2. Market Share & Forecast
- 9.2.1. By Technology
- 9.2.2. By Source
- 9.2.3. By End-User
- 9.2.4. By Country
9.3. South America: Country Analysis
- 9.3.1. Brazil Offshore Energy Storage Market Outlook
  - 9.3.1.1. Market Size & Forecast
    - 9.3.1.1.1. By Value
  - 9.3.1.2. Market Share & Forecast
    - 9.3.1.2.1. By Technology
    - 9.3.1.2.2. By Source
    - 9.3.1.2.3. By End-User
- 9.3.2. Argentina Offshore Energy Storage Market Outlook
  - 9.3.2.1. Market Size & Forecast
    - 9.3.2.1.1. By Value
  - 9.3.2.2. Market Share & Forecast
    - 9.3.2.2.1. By Technology
    - 9.3.2.2.2. By Source
    - 9.3.2.2.3. By End-User
- 9.3.3. Colombia Offshore Energy Storage Market Outlook
  - 9.3.3.1. Market Size & Forecast
    - 9.3.3.1.1. By Value
  - 9.3.3.2. Market Share & Forecast
    - 9.3.3.2.1. By Technology
    - 9.3.3.2.2. By Source
    - 9.3.3.2.3. By End-User

10. Middle East and Africa Offshore Energy Storage Market Outlook

10.1. Market Size & Forecast
- 10.1.1. By Value
10.2. Market Share & Forecast
- 10.2.1. By Technology
- 10.2.2. By Source
- 10.2.3. By End-User
- 10.2.4. By Country
10.3. Middle East and Africa: Country Analysis
- 10.3.1. South Africa Offshore Energy Storage Market Outlook
  - 10.3.1.1. Market Size & Forecast
    - 10.3.1.1.1. By Value
  - 10.3.1.2. Market Share & Forecast
    - 10.3.1.2.1. By Technology
    - 10.3.1.2.2. By Source
    - 10.3.1.2.3. By End-User
- 10.3.2. Saudi Arabia Offshore Energy Storage Market Outlook
  - 10.3.2.1. Market Size & Forecast
    - 10.3.2.1.1. By Value
  - 10.3.2.2. Market Share & Forecast
    - 10.3.2.2.1. By Technology
    - 10.3.2.2.2. By Source
    - 10.3.2.2.3. By End-User
- 10.3.3. UAE Offshore Energy Storage Market Outlook
  - 10.3.3.1. Market Size & Forecast
    - 10.3.3.1.1. By Value
  - 10.3.3.2. Market Share & Forecast
    - 10.3.3.2.1. By Technology
    - 10.3.3.2.2. By Source
    - 10.3.3.2.3. By End-User
- 10.3.4. Kuwait Offshore Energy Storage Market Outlook
  - 10.3.4.1. Market Size & Forecast
    - 10.3.4.1.1. By Value
  - 10.3.4.2. Market Share & Forecast
    - 10.3.4.2.1. By Technology
    - 10.3.4.2.2. By Source
    - 10.3.4.2.3. By End-User
- 10.3.5. Turkey Offshore Energy Storage Market Outlook
  - 10.3.5.1. Market Size & Forecast
    - 10.3.5.1.1. By Value
  - 10.3.5.2. Market Share & Forecast
    - 10.3.5.2.1. By Technology
    - 10.3.5.2.2. By Source
    - 10.3.5.2.3. By End-User

11. Market Dynamics

11.1. Drivers
11.2. Challenges

12. Market Trends & Developments

12.1. Merger & Acquisition (If Any)
12.2. Product Launches (If Any)
12.3. Recent Developments

13. Company Profiles

13.1. GE Vernova
- 13.1.1. Business Overview
- 13.1.2. Key Revenue and Financials
- 13.1.3. Recent Developments
- 13.1.4. Key Personnel/Key Contact Person
- 13.1.5. Key Product/Services Offered
13.2. ABB Ltd
13.3. LG Chem Ltd.,
13.4. Tesla, Inc.
13.5. Panasonic Corporation
13.6. Schneider Electric SE
13.7. SolarEdge Technologies Inc.
13.8. Eos Energy Storage LLC
13.9. Ameresco, Inc.
13.10. EnerSys