Japan Energy Storage System for Ships Market was valued at USD 0.8 Billion in 2022 and is projected to reach USD 1.6 Billion by 2030, growing at a CAGR of 9.4% from 2024 to 2030.
Japan's maritime industry is undergoing a significant transformation as it seeks to enhance energy efficiency and reduce greenhouse gas emissions. Central to this evolution is the adoption of Energy Storage Systems (ESS) for ships, which play a pivotal role in optimizing fuel consumption and supporting the integration of renewable energy sources.
In April 2021, Sumitomo Corporation and Norway's Corvus Energy established Sumisho Corvus Energy Co., Ltd., aiming to promote ESS adoption in Japan's shipping sector. This joint venture focuses on providing advanced marine energy storage solutions and related maintenance services, leveraging Corvus Energy's extensive experience in the field. citeturn0search3
A significant milestone was achieved in April 2024 when Corvus Energy's Orca ESS received type approval from Japan's classification society, ClassNK. This approval marked the first time a marine battery system met ClassNK's standards since the rules for marine energy storage systems were introduced in January 2023. citeturn0search1
The Orca ESS has already demonstrated its effectiveness, with over 600 installations worldwide, including applications in harbor tugboats like the Taiga in Yokohama and zero-emission tankers such as Asahi and Akari in Tokyo Bay. citeturn0search2
To ensure the safety and performance of ESS, adherence to certifications like the Japanese Industrial Standards (JIS) and International Electrotechnical Commission (IEC) standards is essential. These certifications involve rigorous testing protocols, including assessments of battery lifespan, discharge rates, and performance under various environmental conditions. citeturn0search0
The integration of ESS in ships not only contributes to fuel efficiency but also aligns with global efforts to decarbonize the maritime industry. By storing energy, these systems enable vessels to optimize power usage, reduce emissions, and support the transition to renewable energy sources.
In summary, Japan's commitment to advancing marine energy storage technology is evident through strategic partnerships, regulatory approvals, and adherence to stringent safety standards. These efforts are instrumental in propelling the shipping industry towards a more sustainable and energy-efficient future.
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Rolls-Royce
Leclanche
SAFT
ABB & SINTEF
Corvus Energy
Siemens
Wartsila
Plan B Energy Storage (PBES)
Pathion
EST-Floattech
Kokam
ChengRui Energy Technology
Shandong BOS Energy Technology
MaxLi Battery Ltd
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Japan Energy Storage System for Ships Market
Lithium-ion Batteries
Flow Batteries
Lead-acid Batteries
Solid-state Batteries
Others
Electricity
Wind
Solar
Hybrid
Others
Power Supply
Power Backup
Fuel Efficiency Enhancement
Emission Control
Others
Commercial Ships
Passenger Ships
Military Ships
Cargo Ships
Luxury Yachts
Up to 1 MWh
1 MWh – 5 MWh
5 MWh – 10 MWh
Above 10 MWh
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the Japan Energy Storage System for Ships Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Japan Energy Storage System for Ships Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Japan Energy Storage System for Ships Market, By Type
6. Japan Energy Storage System for Ships Market, By Application
7. Japan Energy Storage System for Ships Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. Japan Energy Storage System for Ships Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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