Shore Power Market
Global Shore Power Market Size, Share & Trends Analysis Report by Installation Type (Shoreside and Shipside), by Connection (New Installation and Retrofit), by Component (Transformers, Switchgear Devices, Frequency Converters, Cables & Accessories, and Others), and by Power Rating (Up To 30 MVA, 30-60 MVA and Above 60 MVA) Forecast Period (2022-2028)
The global shore power market is anticipated to grow at a significant CAGR of 6.9% during the forecast period. Shore power is also called cold-ironing. It is the process of providing electrical power to a vessel at berth from the shore allowing the auxiliary engines to be turned off. Additionally, it aids to save the consumption of fuel that is used as a power source to run the vessels while in port. Further, it assists in reducing air pollution that is related to the consumption of that fuel. The major factor driving the growth of the global shore power market during the forecast is the increasing demand for shore power to reduce the growing noise and air pollution from port operations across the globe. According to the International Chamber of Shipping, marine vessels carry out 90% of the global trade, which use fossil fuels for power generation. These fossil fuels lead to CO2 emissions and affect the environment. Hence, the implementation of shore power systems effectively limits air and sound pollution which further offers lucrative opportunities for the growth of the global shore power market during the forecast period.
Impact of COVID-19 Pandemic on Global Shore Power Market
The COVID-19 pandemic had a negative impact on the global shore power market. During COVID-19, as of May 2020, 212 countries had been impacted by the pandemic, and the governments of these countries had ordered nationwide lockdowns which impacted the operations of several industries. Additionally, the disruptions in the supply chain adversely affected the shore power market owing to the suspension of activities of end-users. However, as the COVID-19 situation normalizes, the global shore power market started recovery as industrial operations were normalized after the COVID-19 pandemic.
Segmental Outlook
The global shore power market is segmented based on installation type, connection, component and power rating. Based on the installation type, the market is sub-segmented into shoreside and shipside. Based on the connection, the market is sub-segmented into new installation and retrofit. Based on the component, the market is sub-segmented into transformers, switchgear devices, frequency converters, cables and accessories and others. Based on the power rating, the market is sub-segmented into up to 30 MVA, 30-60 MVA and above 60 MVA.
Global Shore Power Market Share by Installation Type, 2021 (%)
The Shoreside Segment is Expected to Hold a Prominent Share in the Global Shore Power Market
Based on the installation type, the shoreside segment in the global shore power market holds a prominent share in 2021. The factor driving the segment includes the stringent environmental regulations implemented by governments to reduce the carbon footprint on ports globally. Additionally, the port authorities are focusing on reducing noise and emission levels through port operations which in turn is driving the growth of the market.
Regional Outlook
The global shore power Market market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Germany, Italy, Spain, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America).
Global Shore Power Market Growth by Region, 2022-2028
The Asia-Pacific Region is Anticipated to Hold Considerable Market Share of the Global Shore Power Market
The Asia-Pacific region is anticipated to hold a prominent share in the shore power market. The major factor driving the growth of the market in the region is the increasing seaborne trade. Additionally, the rising seaborne trade led to increased air and noise pollution. Furthermore, shore power aids in reducing the environmental pollution. Hence, the adoption of shore power to reduce environmental pollution is boosting the growth of the market in the region during the forecast period. Moreover, countries such as India and China, among others are emphasizing reducing their carbon footprint by using several techniques such as shore power which in turn is driving the market growth in the region.
Market Players Outlook
The major companies serving the global shore power market include ABB Group Ltd., Piller Power Systems, Power System International, Siemens AG, and Schneider Electric SE, among others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, and geographical expansion, to stay competitive in the market. For instance, in November 2021, GE Power Conversion announced that the company has received the US Navy Military Sealift Command (MSC) indefinite-delivery/indefinite-quantity (IDIQ) five-year contract worth $125 million. The contract was aimed to maintain the electric and hybrid electric power and propulsion systems aboard its vessels.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global shore power market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Shore Power Market
• Recovery Scenario of Global Shore Power Market
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. BY Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. ABB Group Ltd.
3.1.1.1. Overview
3.1.1.2. Financial Analysis
3.1.1.3. SWOT Analysis
3.1.1.4. Recent Developments
3.1.2. Piller Power Systems
3.1.2.1. Overview
3.1.2.2. Financial Analysis
3.1.2.3. SWOT Analysis
3.1.2.4. Recent Developments
3.1.3. Power Systems International
3.1.3.1. Overview
3.1.3.2. Financial Analysis
3.1.3.3. SWOT Analysis
3.1.3.4. Recent Developments
3.1.4. Siemens AG
3.1.4.1. Overview
3.1.4.2. Financial Analysis
3.1.4.3. SWOT Analysis
3.1.4.4. Recent Developments
3.1.5. Schneider Electric SE
3.1.5.1. Overview
3.1.5.2. Financial Analysis
3.1.5.3. SWOT Analysis
3.1.5.4. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of Covid-19 on Key Players
4. Market Segmentation
4.1. Global Shore Power Market by Installation Type
4.1.1. Shoreside
4.1.2. Shipside
4.2. Global Shore Power Market by Connection
4.2.1. New Installation
4.2.2. Retrofit
4.3. Global Shore Power Market by Component
4.3.1. Transformers
4.3.2. Switchgear Devices
4.3.3. Frequency Converters
4.3.4. Cables and Accessories
4.3.5. Others
4.4. Global Shore Power Market by Power Rating
4.4.1. Up to 30 MVA
4.4.2. 30-60 MVA
4.4.3. Above 60 MVA
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Blueday Technology AS
6.2. Cavotec SA
6.3. Danfoss
6.4. Eaton Corp.
6.5. ESL Power Systems, Inc.
6.6. Ratio Electric B.V.
6.7. Sydney Marine Electrical
6.8. Wärtsilä Corp.
6.9. Watts Marine LLC
6.10. Wabtec Corp.
1. GLOBAL SHORE POWER MARKET RESEARCH AND ANALYSIS BY INSTALLATION TYPE, 2021-2028 ($ MILLION)
2. GLOBAL SHORE POWER BY SHORESIDE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL SHORE POWER BY SHIPSIDE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL SHORE POWER MARKET RESEARCH AND ANALYSIS BY CONNECTION, 2021-2028 ($ MILLION)
5. GLOBAL SHORE POWER BY NEW INSTALLATION MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6. GLOBAL SHORE POWER BY RETROFIT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL SHORE POWER MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2021-2028 ($ MILLION)
8. GLOBAL SHORE POWER BY TRANSFORMERS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9. GLOBAL SHORE POWER BY SWITCHGEAR DEVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
10. GLOBAL SHORE POWER BY FREQUENCY CONVERTERS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
11. GLOBAL SHORE POWER BY CABLES AND ACCESSORIES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
12. GLOBAL SHORE POWER BY OTHERS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
13. GLOBAL SHORE POWER MARKET RESEARCH AND ANALYSIS BY POWER RATING, 2021-2028 ($ MILLION)
14. GLOBAL SHORE POWER BY UP TO 30 MVA MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
15. GLOBAL SHORE POWER BY 30-60 MVA MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
16. GLOBAL SHORE POWER BY ABOVE 60 MVA MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
17. GLOBAL SHORE POWER MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2021-2028 ($ MILLION)
18. NORTH AMERICAN SHORE POWER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
19. NORTH AMERICAN SHORE POWER MARKET RESEARCH AND ANALYSIS BY INSTALLATION TYPE, 2021-2028 ($ MILLION)
20. NORTH AMERICAN SHORE POWER MARKET RESEARCH AND ANALYSIS BY CONNECTION, 2021-2028 ($ MILLION)
21. NORTH AMERICAN SHORE POWER MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2021-2028 ($ MILLION)
22. NORTH AMERICAN SHORE POWER MARKET RESEARCH AND ANALYSIS BY POWER RATING, 2021-2028 ($ MILLION)
23. EUROPEAN SHORE POWER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
24. EUROPEAN SHORE POWER MARKET RESEARCH AND ANALYSIS BY INSTALLATION TYPE, 2021-2028 ($ MILLION)
25. EUROPEAN SHORE POWER MARKET RESEARCH AND ANALYSIS BY CONNECTION, 2021-2028 ($ MILLION)
26. EUROPEAN SHORE POWER MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2021-2028 ($ MILLION)
27. EUROPEAN SHORE POWER MARKET RESEARCH AND ANALYSIS BY POWER RATING, 2021-2028 ($ MILLION)
28. ASIA-PACIFIC SHORE POWER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
29. ASIA-PACIFIC SHORE POWER MARKET RESEARCH AND ANALYSIS BY INSTALLATION TYPE, 2021-2028 ($ MILLION)
30. ASIA-PACIFIC SHORE POWER MARKET RESEARCH AND ANALYSIS BY CONNECTION, 2021-2028 ($ MILLION)
31. ASIA-PACIFIC SHORE POWER MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2021-2028 ($ MILLION)
32. ASIA-PACIFIC SHORE POWER MARKET RESEARCH AND ANALYSIS BY POWER RATING, 2021-2028 ($ MILLION)
33. REST OF THE WORLD SHORE POWER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
34. REST OF THE WORLD SHORE POWER MARKET RESEARCH AND ANALYSIS BY INSTALLATION TYPE, 2021-2028 ($ MILLION)
35. REST OF THE WORLD SHORE POWER MARKET RESEARCH AND ANALYSIS BY CONNECTION, 2021-2028 ($ MILLION)
36. REST OF THE WORLD SHORE POWER MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2021-2028 ($ MILLION)
37. REST OF THE WORLD SHORE POWER MARKET RESEARCH AND ANALYSIS BY POWER RATING, 2021-2028 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL SHORE POWER MARKET, 2021-2028 ($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL SHORE POWER MARKET BY SEGMENT, 2021-2028 ($ MILLION)
3. RECOVERY OF GLOBAL SHORE POWER MARKET, 2022-2028 (%)
4. GLOBAL SHORE POWER MARKET SHARE BY INSTALLATION TYPE, 2021 VS 2028 (%)
5. GLOBAL SHORE POWER BY SHORESIDE MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
6. GLOBAL SHORE POWER BY SHIPSIDE MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
7. GLOBAL SHORE POWER MARKET SHARE BY CONNECTION, 2021 VS 2028 (%)
8. GLOBAL SHORE POWER BY NEW INSTALLATION MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
9. GLOBAL SHORE POWER BY RETROFIT MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
10. GLOBAL SHORE POWER MARKET SHARE BY COMPONENT, 2021 VS 2028 (%)
11. GLOBAL SHORE POWER BY TRANSFORMERS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
12. GLOBAL SHORE POWER BY SWITCHGEAR DEVICES MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
13. GLOBAL SHORE POWER BY FREQUENCY CONVERTERS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
14. GLOBAL SHORE POWER BY CABLES AND ACCESSORIES MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
15. GLOBAL SHORE POWER BY OTHERS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
16. GLOBAL SHORE POWER MARKET SHARE BY POWER RATING, 2021 VS 2028 (%)
17. GLOBAL SHORE POWER BY UP TO 30 MVA MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
18. GLOBAL SHORE POWER BY 30-60 MVA MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
19. GLOBAL SHORE POWER BY ABOVE 60 MVA MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
20. GLOBAL SHORE POWER MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
21. US SHORE POWER MARKET SIZE, 2021-2028 ($ MILLION)
22. CANADA SHORE POWER MARKET SIZE, 2021-2028 ($ MILLION)
23. UK SHORE POWER MARKET SIZE, 2021-2028 ($ MILLION)
24. FRANCE SHORE POWER MARKET SIZE, 2021-2028 ($ MILLION)
25. GERMANY SHORE POWER MARKET SIZE, 2021-2028 ($ MILLION)
26. ITALY SHORE POWER MARKET SIZE, 2021-2028 ($ MILLION)
27. SPAIN SHORE POWER MARKET SIZE, 2021-2028 ($ MILLION)
28. REST OF EUROPE SHORE POWER MARKET SIZE, 2021-2028 ($ MILLION)
29. INDIA SHORE POWER MARKET SIZE, 2021-2028 ($ MILLION)
30. CHINA SHORE POWER MARKET SIZE, 2021-2028 ($ MILLION)
31. JAPAN SHORE POWER MARKET SIZE, 2021-2028 ($ MILLION)
32. SOUTH KOREA SHORE POWER MARKET SIZE, 2021-2028 ($ MILLION)
33. REST OF ASIA-PACIFIC SHORE POWER MARKET SIZE, 2021-2028 ($ MILLION)
34. REST OF THE WORLD SHORE POWER MARKET SIZE, 2021-2028 ($ MILLION)
