Shore Power Market, to Grow at 12.93% CAGR by 2027

Pune, India, September 2019, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Shore Power Market.

Market Highlights

The Global Shore Power Market is expected to be valued at USD 2.82 Billion by 2025, with ~12.93% CAGR during the forecast period, 2019–2025. Shore power is the process of supplying electricity from shore to ships and marine vessels, which are docked at ports. It helps switch off the auxiliary engines of the marine vessels when vessels are docked at ports. Shore power also helps reduce diesel emissions and other air pollutants by switching off the vessel’s on-board auxiliary engines.

GLOBAL SHORE POWER MARKET, 2019–2025 

In 2018, North America dominated the global shore power market in terms of share: MRFR

The global shore power market has been segmented as five regions, namely Asia-Pacific, Middle East & Africa, Europe, North America, Europe, Asia-Pacific, Middle East & Africa and South America. Asia Pacific is expected to have the largest market share in the global shore power market and is expected to witness the fastest growth during the forecast period. Asia-Pacific ports are focusing on sustainability due to the increase in the maritime industry, mounting concerns regarding local air pollution, and stringent emission regulations. Thus, a major scope for development in the shore power market exists in Asia-Pacific. China accounted for the largest market share in Asia-Pacific. The various stringent government regulations in Asia-Pacific, drive the growth of the global shore power market during the forecast period.

The shore power market in Europe is expected to be dominated by Germany owing to the rise in the number of cruise liners in the shipping industry. For instance, in 2017, Siemens (Germany) received a contract to supply the key components of a Siharbor shore power supply system for roll-on/roll-off (RoRo) ships in Cuxhaven, Germany.

The shore power market in the Middle East & Africa is dominated by Saudi Arabia due to the increasing investments for improving the pier facilities. For instance, Tanajib, an oil complex owned by the Saudi Arabian Oil Company planned to expand its new area and upgrade the existing quay wall in the Eastern Province of Saudi Arabia.

The shore power market in South America is dominated by Argentina owing to the increasing investments in the Merchant and Shipbuilding Industry. Argentina’s government is investing in adopting shore power systems at a rapid rate, which drives the shore power market in Argentina during the forecast period.

The global shore power market has been segmented based on installation, connection, component, and region. Based on installation, the global market is segmented as shoreside and shipside. Furthermore, the shipside segment is further segmented into merchant vessels, specialized vessels, passenger vessels, and offshore support vessels. The shoreside segment is expected to dominate the global market and is likely to grow with a higher CAGR. Based on connection the global market is segmented as a new installation and retrofit. The new installation segment is expected to grow with a higher CAGR during the forecast period. By component, the market is segmented into transformers, switchgear, frequency converters, cables & accessories, and others. The frequency converters segment is expected to hold the largest market share during the forecast period.

The global shore power market is expected to grow at 12.93% CAGR during the forecast period.

Access Report Details @ https://www.marketresearchfuture.com/reports/shore-power-market-8353

Scope of the Report

This report provides an in-depth analysis of the global shore power market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size and share for North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. The report also presents a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global shore power market by installation, connection, component, and region.

• 
  Installation
  
  
  
  • Shoreside
  
  
  • Shipside
  
  
  • Merchant Vessel
  
  
  • Specialized Vessel
  
  
  • Passenger Vessel
  
  
  • Offshore Support Vessel
  
  
  
  

• 
  Connection
  
  
  
  • New installation
  
  
  • Retrofit
  
  
  
  

• 
  Component
  
  
  
  • Transformers
  
  
  • Switchgears
  
  
  • Frequency Converters
  
  
  • Cables & Accessories
  
  
  • Others
  
  
  
  

• 
  By Region
  
  
  
  • North America 
  
  
  • Asia-Pacific 
  
  
  • Europe
  
  
  • Middle East & Africa
  
  
  • South America
  
  
  
  

Key Players

The key players operating in the global shore power market are  ABB (Switzerland), General Electric (US), Siemens AG (Germany), Danfoss (Denmark), Schneider Electric (France), ESL Power Systems, Inc. (US), Cavotec SA (Switzerland), Igus (Germany), Cochran Marine LLC (US), VINCI Energies (France), BLUEDAY Technology (Norway), Wartsila  (Finland), AC Power Corp. (Taiwan), and Smart Plug Systems (US).