Shore Power Market Forecasts to 2030 – Global Analysis By Installation Type (Shipside and Shoreside), Connection, Component, End User and By Geography

Shore Power Market Forecasts to 2030 – Global Analysis By Installation Type (Shipside and Shoreside), Connection, Component, End User and By Geography


According to Stratistics MRC, the Global Shore Power Market is accounted for $2.0 billion in 2024 and is expected to reach $4.3 billion by 2030 growing at a CAGR of 13.2% during the forecast period. Shore power, also known as ""cold ironing"" or ""shore-to-ship power,"" is the process of providing electrical power from the shore to a ship while it is docked. This allows the ship to turn off its onboard diesel generators, which are typically used to generate electricity for essential systems such as lighting, heating, cooling, and other operations. Shore power helps to reduce air pollution, noise, and vibrations in port areas by minimizing the use of diesel engines.

According to the United Nations Conference on Trade and Development, maritime transport is the foundation of international trade and the global economy with over 80% of the volume of global trade in goods is carried by sea, and the percentage is even higher for most developing countries

Market Dynamics:

Driver:

Increased port traffic

The market is witnessing a surge in port traffic, driven by increasing environmental regulations and sustainability initiatives in the maritime sector. Ports worldwide are embracing shore power solutions to reduce emissions and meet carbon reduction targets. This uptick in port traffic underscores the growing adoption of shore power technologies by shipping companies seeking to minimize their carbon footprint while in port. The trend signals a significant shift towards cleaner and more sustainable practices within the global maritime industry.

Restraint:

Standardization Issues

Standardization poses a significant challenge in the shore power market, hindering widespread adoption and interoperability. Varying technical specifications across ports and regions create compatibility issues between shore power systems and vessels. This lack of standardization increases costs for both port operators and shipping companies, discouraging investment in shore power infrastructure. Additionally, differing regulations and standards complicate the development of universal solutions, impeding progress toward a more sustainable maritime industry.

Opportunity:

Renewable energy integration

Renewable energy integration in the shore power market represents a pivotal step towards sustainable maritime operations. By harnessing sources like wind, solar, or tidal power, ports can reduce reliance on fossil fuels, mitigating environmental impact and cutting emissions. Shore power infrastructure enables vessels to connect to the electrical grid while docked, facilitating the seamless integration of renewable energy into maritime activities. This transition not only promotes cleaner air and water but also fosters innovation and resilience in the global shipping industry.

Threat:

High upfront costs

In the market, high upfront costs pose a significant barrier to entry. Implementing shore power infrastructure requires substantial investment in specialized equipment such as shore connection systems, electrical infrastructure upgrades, and vessel modifications. These costs encompass not only the hardware but also engineering, permitting, and installation expenses. Additionally, the complexity of integrating shore power with existing port infrastructure further adds to the initial financial burden.

Covid-19 Impact:

The COVID-19 pandemic significantly affected the shore power market, causing disruptions in both supply and demand. Travel restrictions and lockdown measures led to reduced maritime activities, resulting in decreased demand for shore power solutions. Delays in infrastructure projects and financial uncertainties also hampered investment in port electrification. However, the pandemic highlighted the importance of reducing emissions in the maritime sector, potentially driving long-term growth in the adoption of shore power technologies as part of sustainability efforts within the industry.

The cables and accessories segment is expected to be the largest during the forecast period

The cables and accessories is expected to be the largest during the forecast period. These components encompass a range of specialized cables, connectors, transformers, and distribution panels designed to handle high voltage power transfer. With a focus on durability, weather resistance, and compatibility with varying vessel types, these accessories facilitate seamless power delivery, minimizing downtime and optimizing energy efficiency for vessels relying on shore power connections.

The passenger ports segment is expected to have the highest CAGR during the forecast period

The passenger ports segment is expected to have the highest CAGR during the forecast period driven by environmental concerns and regulations to reduce emissions. Shore power, also known as cold ironing or Alternative Maritime Power (AMP), allows ships to connect to land-based electrical power while docked, eliminating the need to run their engines. This not only reduces air pollution but also noise levels in port areas. Major passenger ports worldwide are increasingly investing in shore power infrastructure to support sustainable maritime operations and enhance their environmental credentials.

Region with largest share:

North America is projected to hold the largest market share during the forecast period. Shore power, also known as cold ironing or alternative maritime power (AMP), enables vessels to connect to the electrical grid while docked, reducing emissions from onboard generators. With a focus on sustainability and reducing air pollution in ports, governments and port authorities are incentivizing the implementation of shore power infrastructure, fostering market expansion across the continent.

Region with highest CAGR:

Asia Pacific is projected to hold the highest CAGR over the forecast period driven by the increasing adoption of clean energy solutions and stringent environmental regulations. The Asia Pacific shore power market encompasses various stakeholders, including port authorities, shipowners, technology providers, and government agencies. It involves the installation of shore power equipment such as connection points, transformers, and electrical infrastructure in ports, as well as the modification of ships to enable shore power compatibility.

Key players in the market

Some of the key players in Shore Power market include Siemens , Schneider Electric SE, ABB, Wartsila, Cavotec, ESL Power Systems, Inc., VINCI Energies SA, Cochran Marine LLC, Blueday Technology, SmartPlug System, Power Systems International, Igus Inc., Ensmart Power Ltd, Nidec Industrial Solutions and Hitachi Energy Ltd.

Key Developments:

In May 2023, ABB signed an agreement with Finnish shipbuilder Meyer Turku to supply two new Finnish multipurpose patrol vessels with an integrated power and propulsion package, including two Azipod thrusters and an Onboard DC Grid™ electrical system.

In September 2022, Wartsila Corporation signed a contract to supply an integrated hybrid propulsion system for two new hybrid ro-ro vessels. The ships would be built at China Merchants Jinling Shipyard (Weihai) Co., Ltd. for the Swedish shipping company Stena RoRo.

In May 2022, Siemens announced the construction of two new SIHARBOR in Kiel, which will be Europe’s largest shore-power connections and will be operating by the end of year 2023. These two shore power systems supply sustainable power through local power grid systems.

Installation Types Covered:
• Shipside
• Shoreside

Connections Covered:
• New Installation
• Retrofit

Components Covered:
• Frequency Converter
• Cables and Accessories
• Transformers
• Switchgear Devices
• Other Components

End Users Covered:
• Commercial Ports
• Passenger Ports
• Military and Government Ports
• Industrial Ports
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements


1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Shore Power Market, By Installation Type
5.1 Introduction
5.2 Shipside
5.2.1 Merchant Vessel
5.2.2 Specialized Vessel
5.2.3 Offshore Support Vessel
5.2.4 Passenger Vessel
5.3 Shoreside
6 Global Shore Power Market, By Connection
6.1 Introduction
6.2 New Installation
6.3 Retrofit
7 Global Shore Power Market, By Component
7.1 Introduction
7.2 Frequency Converter
7.3 Cables and Accessories
7.4 Transformers
7.5 Switchgear Devices
7.6 Other Components
8 Global Shore Power Market, By End User
8.1 Introduction
8.2 Commercial Ports
8.3 Passenger Ports
8.4 Military and Government Ports
8.5 Industrial Ports
8.6 Other End Users
9 Global Shore Power Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Siemens
11.2 Schneider Electric SE
11.3 ABB
11.4 Wartsila
11.5 Cavotec
11.6 ESL Power Systems, Inc.
11.7 VINCI Energies SA
11.8 Cochran Marine LLC
11.9 Blueday Technology
11.10 SmartPlug System
11.11 Power Systems International
11.12 Igus Inc.
11.13 Ensmart Power Ltd
11.14 Nidec Industrial Solutions
11.15 Hitachi Energy Ltd.
List of Tables
Table 1 Global Shore Power Market Outlook, By Region (2021-2030) ($MN)
Table 2 Global Shore Power Market Outlook, By Installation Type (2021-2030) ($MN)
Table 3 Global Shore Power Market Outlook, By Shipside (2021-2030) ($MN)
Table 4 Global Shore Power Market Outlook, By Merchant Vessel (2021-2030) ($MN)
Table 5 Global Shore Power Market Outlook, By Specialized Vessel (2021-2030) ($MN)
Table 6 Global Shore Power Market Outlook, By Offshore Support Vessel (2021-2030) ($MN)
Table 7 Global Shore Power Market Outlook, By Passenger Vessel (2021-2030) ($MN)
Table 8 Global Shore Power Market Outlook, By Shoreside (2021-2030) ($MN)
Table 9 Global Shore Power Market Outlook, By Connection (2021-2030) ($MN)
Table 10 Global Shore Power Market Outlook, By New Installation (2021-2030) ($MN)
Table 11 Global Shore Power Market Outlook, By Retrofit (2021-2030) ($MN)
Table 12 Global Shore Power Market Outlook, By Component (2021-2030) ($MN)
Table 13 Global Shore Power Market Outlook, By Frequency Converter (2021-2030) ($MN)
Table 14 Global Shore Power Market Outlook, By Cables and Accessories (2021-2030) ($MN)
Table 15 Global Shore Power Market Outlook, By Transformers (2021-2030) ($MN)
Table 16 Global Shore Power Market Outlook, By Switchgear Devices (2021-2030) ($MN)
Table 17 Global Shore Power Market Outlook, By Other Components (2021-2030) ($MN)
Table 18 Global Shore Power Market Outlook, By End User (2021-2030) ($MN)
Table 19 Global Shore Power Market Outlook, By Commercial Ports (2021-2030) ($MN)
Table 20 Global Shore Power Market Outlook, By Passenger Ports (2021-2030) ($MN)
Table 21 Global Shore Power Market Outlook, By Military and Government Ports (2021-2030) ($MN)
Table 22 Global Shore Power Market Outlook, By Industrial Ports (2021-2030) ($MN)
Table 23 Global Shore Power Market Outlook, By Other End Users (2021-2030) ($MN)
Table 24 North America Shore Power Market Outlook, By Country (2021-2030) ($MN)
Table 25 North America Shore Power Market Outlook, By Installation Type (2021-2030) ($MN)
Table 26 North America Shore Power Market Outlook, By Shipside (2021-2030) ($MN)
Table 27 North America Shore Power Market Outlook, By Merchant Vessel (2021-2030) ($MN)
Table 28 North America Shore Power Market Outlook, By Specialized Vessel (2021-2030) ($MN)
Table 29 North America Shore Power Market Outlook, By Offshore Support Vessel (2021-2030) ($MN)
Table 30 North America Shore Power Market Outlook, By Passenger Vessel (2021-2030) ($MN)
Table 31 North America Shore Power Market Outlook, By Shoreside (2021-2030) ($MN)
Table 32 North America Shore Power Market Outlook, By Connection (2021-2030) ($MN)
Table 33 North America Shore Power Market Outlook, By New Installation (2021-2030) ($MN)
Table 34 North America Shore Power Market Outlook, By Retrofit (2021-2030) ($MN)
Table 35 North America Shore Power Market Outlook, By Component (2021-2030) ($MN)
Table 36 North America Shore Power Market Outlook, By Frequency Converter (2021-2030) ($MN)
Table 37 North America Shore Power Market Outlook, By Cables and Accessories (2021-2030) ($MN)
Table 38 North America Shore Power Market Outlook, By Transformers (2021-2030) ($MN)
Table 39 North America Shore Power Market Outlook, By Switchgear Devices (2021-2030) ($MN)
Table 40 North America Shore Power Market Outlook, By Other Components (2021-2030) ($MN)
Table 41 North America Shore Power Market Outlook, By End User (2021-2030) ($MN)
Table 42 North America Shore Power Market Outlook, By Commercial Ports (2021-2030) ($MN)
Table 43 North America Shore Power Market Outlook, By Passenger Ports (2021-2030) ($MN)
Table 44 North America Shore Power Market Outlook, By Military and Government Ports (2021-2030) ($MN)
Table 45 North America Shore Power Market Outlook, By Industrial Ports (2021-2030) ($MN)
Table 46 North America Shore Power Market Outlook, By Other End Users (2021-2030) ($MN)
Table 47 Europe Shore Power Market Outlook, By Country (2021-2030) ($MN)
Table 48 Europe Shore Power Market Outlook, By Installation Type (2021-2030) ($MN)
Table 49 Europe Shore Power Market Outlook, By Shipside (2021-2030) ($MN)
Table 50 Europe Shore Power Market Outlook, By Merchant Vessel (2021-2030) ($MN)
Table 51 Europe Shore Power Market Outlook, By Specialized Vessel (2021-2030) ($MN)
Table 52 Europe Shore Power Market Outlook, By Offshore Support Vessel (2021-2030) ($MN)
Table 53 Europe Shore Power Market Outlook, By Passenger Vessel (2021-2030) ($MN)
Table 54 Europe Shore Power Market Outlook, By Shoreside (2021-2030) ($MN)
Table 55 Europe Shore Power Market Outlook, By Connection (2021-2030) ($MN)
Table 56 Europe Shore Power Market Outlook, By New Installation (2021-2030) ($MN)
Table 57 Europe Shore Power Market Outlook, By Retrofit (2021-2030) ($MN)
Table 58 Europe Shore Power Market Outlook, By Component (2021-2030) ($MN)
Table 59 Europe Shore Power Market Outlook, By Frequency Converter (2021-2030) ($MN)
Table 60 Europe Shore Power Market Outlook, By Cables and Accessories (2021-2030) ($MN)
Table 61 Europe Shore Power Market Outlook, By Transformers (2021-2030) ($MN)
Table 62 Europe Shore Power Market Outlook, By Switchgear Devices (2021-2030) ($MN)
Table 63 Europe Shore Power Market Outlook, By Other Components (2021-2030) ($MN)
Table 64 Europe Shore Power Market Outlook, By End User (2021-2030) ($MN)
Table 65 Europe Shore Power Market Outlook, By Commercial Ports (2021-2030) ($MN)
Table 66 Europe Shore Power Market Outlook, By Passenger Ports (2021-2030) ($MN)
Table 67 Europe Shore Power Market Outlook, By Military and Government Ports (2021-2030) ($MN)
Table 68 Europe Shore Power Market Outlook, By Industrial Ports (2021-2030) ($MN)
Table 69 Europe Shore Power Market Outlook, By Other End Users (2021-2030) ($MN)
Table 70 Asia Pacific Shore Power Market Outlook, By Country (2021-2030) ($MN)
Table 71 Asia Pacific Shore Power Market Outlook, By Installation Type (2021-2030) ($MN)
Table 72 Asia Pacific Shore Power Market Outlook, By Shipside (2021-2030) ($MN)
Table 73 Asia Pacific Shore Power Market Outlook, By Merchant Vessel (2021-2030) ($MN)
Table 74 Asia Pacific Shore Power Market Outlook, By Specialized Vessel (2021-2030) ($MN)
Table 75 Asia Pacific Shore Power Market Outlook, By Offshore Support Vessel (2021-2030) ($MN)
Table 76 Asia Pacific Shore Power Market Outlook, By Passenger Vessel (2021-2030) ($MN)
Table 77 Asia Pacific Shore Power Market Outlook, By Shoreside (2021-2030) ($MN)
Table 78 Asia Pacific Shore Power Market Outlook, By Connection (2021-2030) ($MN)
Table 79 Asia Pacific Shore Power Market Outlook, By New Installation (2021-2030) ($MN)
Table 80 Asia Pacific Shore Power Market Outlook, By Retrofit (2021-2030) ($MN)
Table 81 Asia Pacific Shore Power Market Outlook, By Component (2021-2030) ($MN)
Table 82 Asia Pacific Shore Power Market Outlook, By Frequency Converter (2021-2030) ($MN)
Table 83 Asia Pacific Shore Power Market Outlook, By Cables and Accessories (2021-2030) ($MN)
Table 84 Asia Pacific Shore Power Market Outlook, By Transformers (2021-2030) ($MN)
Table 85 Asia Pacific Shore Power Market Outlook, By Switchgear Devices (2021-2030) ($MN)
Table 86 Asia Pacific Shore Power Market Outlook, By Other Components (2021-2030) ($MN)
Table 87 Asia Pacific Shore Power Market Outlook, By End User (2021-2030) ($MN)
Table 88 Asia Pacific Shore Power Market Outlook, By Commercial Ports (2021-2030) ($MN)
Table 89 Asia Pacific Shore Power Market Outlook, By Passenger Ports (2021-2030) ($MN)
Table 90 Asia Pacific Shore Power Market Outlook, By Military and Government Ports (2021-2030) ($MN)
Table 91 Asia Pacific Shore Power Market Outlook, By Industrial Ports (2021-2030) ($MN)
Table 92 Asia Pacific Shore Power Market Outlook, By Other End Users (2021-2030) ($MN)
Table 93 South America Shore Power Market Outlook, By Country (2021-2030) ($MN)
Table 94 South America Shore Power Market Outlook, By Installation Type (2021-2030) ($MN)
Table 95 South America Shore Power Market Outlook, By Shipside (2021-2030) ($MN)
Table 96 South America Shore Power Market Outlook, By Merchant Vessel (2021-2030) ($MN)
Table 97 South America Shore Power Market Outlook, By Specialized Vessel (2021-2030) ($MN)
Table 98 South America Shore Power Market Outlook, By Offshore Support Vessel (2021-2030) ($MN)
Table 99 South America Shore Power Market Outlook, By Passenger Vessel (2021-2030) ($MN)
Table 100 South America Shore Power Market Outlook, By Shoreside (2021-2030) ($MN)
Table 101 South America Shore Power Market Outlook, By Connection (2021-2030) ($MN)
Table 102 South America Shore Power Market Outlook, By New Installation (2021-2030) ($MN)
Table 103 South America Shore Power Market Outlook, By Retrofit (2021-2030) ($MN)
Table 104 South America Shore Power Market Outlook, By Component (2021-2030) ($MN)
Table 105 South America Shore Power Market Outlook, By Frequency Converter (2021-2030) ($MN)
Table 106 South America Shore Power Market Outlook, By Cables and Accessories (2021-2030) ($MN)
Table 107 South America Shore Power Market Outlook, By Transformers (2021-2030) ($MN)
Table 108 South America Shore Power Market Outlook, By Switchgear Devices (2021-2030) ($MN)
Table 109 South America Shore Power Market Outlook, By Other Components (2021-2030) ($MN)
Table 110 South America Shore Power Market Outlook, By End User (2021-2030) ($MN)
Table 111 South America Shore Power Market Outlook, By Commercial Ports (2021-2030) ($MN)
Table 112 South America Shore Power Market Outlook, By Passenger Ports (2021-2030) ($MN)
Table 113 South America Shore Power Market Outlook, By Military and Government Ports (2021-2030) ($MN)
Table 114 South America Shore Power Market Outlook, By Industrial Ports (2021-2030) ($MN)
Table 115 South America Shore Power Market Outlook, By Other End Users (2021-2030) ($MN)
Table 116 Middle East & Africa Shore Power Market Outlook, By Country (2021-2030) ($MN)
Table 117 Middle East & Africa Shore Power Market Outlook, By Installation Type (2021-2030) ($MN)
Table 118 Middle East & Africa Shore Power Market Outlook, By Shipside (2021-2030) ($MN)
Table 119 Middle East & Africa Shore Power Market Outlook, By Merchant Vessel (2021-2030) ($MN)
Table 120 Middle East & Africa Shore Power Market Outlook, By Specialized Vessel (2021-2030) ($MN)
Table 121 Middle East & Africa Shore Power Market Outlook, By Offshore Support Vessel (2021-2030) ($MN)
Table 122 Middle East & Africa Shore Power Market Outlook, By Passenger Vessel (2021-2030) ($MN)
Table 123 Middle East & Africa Shore Power Market Outlook, By Shoreside (2021-2030) ($MN)
Table 124 Middle East & Africa Shore Power Market Outlook, By Connection (2021-2030) ($MN)
Table 125 Middle East & Africa Shore Power Market Outlook, By New Installation (2021-2030) ($MN)
Table 126 Middle East & Africa Shore Power Market Outlook, By Retrofit (2021-2030) ($MN)
Table 127 Middle East & Africa Shore Power Market Outlook, By Component (2021-2030) ($MN)
Table 128 Middle East & Africa Shore Power Market Outlook, By Frequency Converter (2021-2030) ($MN)
Table 129 Middle East & Africa Shore Power Market Outlook, By Cables and Accessories (2021-2030) ($MN)
Table 130 Middle East & Africa Shore Power Market Outlook, By Transformers (2021-2030) ($MN)
Table 131 Middle East & Africa Shore Power Market Outlook, By Switchgear Devices (2021-2030) ($MN)
Table 132 Middle East & Africa Shore Power Market Outlook, By Other Components (2021-2030) ($MN)
Table 133 Middle East & Africa Shore Power Market Outlook, By End User (2021-2030) ($MN)
Table 134 Middle East & Africa Shore Power Market Outlook, By Commercial Ports (2021-2030) ($MN)
Table 135 Middle East & Africa Shore Power Market Outlook, By Passenger Ports (2021-2030) ($MN)
Table 136 Middle East & Africa Shore Power Market Outlook, By Military and Government Ports (2021-2030) ($MN)
Table 137 Middle East & Africa Shore Power Market Outlook, By Industrial Ports (2021-2030) ($MN)
Table 138 Middle East & Africa Shore Power Market Outlook, By Other End Users (2021-2030) ($MN)

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