Strategic Iniatiative: Increasing Demand to Reduce Air and Noise Pollution to Drive the Global Shore Power Market

The global shore power market is anticipated to grow at a significant CAGR of 6.9% during the forecast period. Shore power or cold ironing is the method of supplying electrical power from the shore to a ship at berth. It is a source of green electric power that reduces carbon emissions emitted from port operations The increasing need for reliable and environmentally safe powerful electrical supply is boosting the demand for better Shore Power. Additionally, the major factor driving the growth of the global shore power market during the forecast period is the increasing demand to reduce air and noise pollution from ports operations across the globe. However, it requires high capital expenditure which may hamper the growth of the market. 

Browse the full report description of “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)” at https://www.omrglobal.com/industry-reports/shore-power-market

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 & acquisitions, partnerships and collaborations, and geographical expansion, to stay competitive in the market. For instance, in October 2019, ABB signed a contract with the Port of Tallinn to install shore power systems on five of its piers in the Old City Harbor on the port of Tallinn as part of the first shore power project in Estonia. The project was aimed at supplying shore electricity to the vessels that visit the port and reducing emissions and noise created by ships' engines.

Market Coverage

• The market number available for – 2021-2028

• Base year- 2021

• Forecast period- 2022-2028

• Segment Covered- 

o By Installation Type

o By Connection

o By Component

o By Power Rating

• Regions Covered-

o North America

o Europe

o Asia-Pacific

o Rest of the World

• Competitive Landscape- ABB Group Ltd., Piller Power Systems, Power System International, Siemens AG, and Schneider Electric SE, among others.

Key questions addressed by the report

• What is the market growth rate?

• Which segment and region dominate the market in the base year?

• Which segment and region will project the fastest growth in the market?

• How has COVID-19 impacted the market?

o Deviation from the pre-COVID-19 forecast

o Most affected region and segment

• Who is the leader in the market?

• How players are addressing challenges to sustain growth?

• Where is the investment opportunity?

Global Shore Power Market Report by Segment

By Installation Type

• Shoreside

• Shipside

By Connection

• New Installation

• Retrofit

By Components

• Transformers

• Switchgear Devices

• Frequency Converters

• Cables and Accessories

• Others

By Power Rating

• Up to 30 MVA

• 30-60 MVA

• Above 60 MVA

Global Shore Power Market Report by Region

North America

• United States

• Canada

Europe

• UK

• Germany

• Italy

• Spain

• France

• Rest of Europe 

Asia-Pacific

• China

• India

• Japan

• South Korea

• Rest of Asia-Pacific 

Rest of the World

• Latin America 

• Middle East & Africa

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