Product Code: PM3096
The global shore power market size is expected to reach USD 4,869.05 million by 2032, according to a new study by Polaris Market Research. The report "Shore Power Market Share, Size, Trends, Industry Analysis Report, By Installation Type (Shoreside, and Shipside); By Connection; By Component; By Power Rating; By Region; Segment Forecast, 2023- 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Cruise ship traveler numbers are rapidly rising, and investments for cruise travelers by government institutions are fostering market expansion. According to the Cruise Lines International Association (CLIA), In 2022, 16 new cruise ships, comprising 5 LNG-powered ships & 9 expedition ships, are expected to make their debuts with CLIA ocean-going member cruise lines.
The economic data from 2020, when compared to 2019, show the pandemic's extensive effects on the cruise industry and emphasize the significance of cruise travel to economies worldwide. There are 5.8 million passengers departed and 576K jobs supported by cruises. And the total economic contribution of cruise passengers was USD 63.4 Bn in 2022. As a result, the shipping industry is receiving a boost from growing cruise lines.
Furthermore, the increasing government regulations and support for reducing greenhouse gas emissions are boosting the market growth. Governments are focusing on investing in this innovation on the global market. In January 2022, the Government of Canada announced that the USD 200 million second round of applications is now open and will fund various regional programs to reduce local pollution across Canada.
To create and implement transformative leadership projects that substantially reduce their greenhouse gas emissions, generate good jobs, and support Canada's 2030 emission reduction, municipal governments, businesses, not-for-profit organizations, and Indigenous communities receive support from investment opportunities. So, during the anticipated period, the market expansion is predicted to be fueled by favorable government regulation for lowering greenhouse gas emissions.
Additionally, in February 2022, Solstad Offshore approached Wartsila for assistance in its attempts to lessen the carbon footprint of its 90-vessel fleet. By 2030, CO2 emissions are expected to have decreased by 50%. Reduced greenhouse gas emissions from auxiliary diesel engines while docked are made possible by shore electricity. These collaborations for producing shore electricity and reducing carbon emissions drive the market's growth.
Shore Power Market Report Highlights:
The retrofit segment is anticipated to grow at a significant CAGR over the forecast period. The expanding number of terminals with marine power infrastructure is likely to result in a major increase in the retrofit segment as well.
The shipside segment accounted for considerable global revenue share due to rising interest in passenger ships as well as increasing interest in cargo ships.
Asia-Pacific is expected to grow at a significant CAGR over the projected period. This is rising owing to the rising government investment in the installation of electricity plants at the shoreside as well as increasing cruise travelers.
The global players include AC Power, ESL Power Systems, General Electric, Igus, Siemens, Schneider Electric, Smart Plug Systems, VINCI Energies, and Wartsila.
Polaris Market Research has segmented the Shore Power market report based on installation type, power rating, component, connection, and region:
Shore Power, Installation Type Outlook (Revenue - USD Million, 2019 - 2032)
Shoreside
Shipside
Passenger Vessel
Merchant Vessel
Offshore Support Vessel
Specialized Vessel
Shore Power, Connection Outlook (Revenue - USD Million, 2019 - 2032)
New Installation
Retrofit
Shore Power, Component Outlook (Revenue - USD Million, 2019 - 2032)
Transformers
Switchgear Devices
Frequency Converter
Cables and Accessories
Others
Shore Power, Power Rating Outlook (Revenue - USD Million, 2019 - 2032)
Up to 30 MVA
30-60 MVA
Above 60 MVA
- Shore Power, Regional Outlook (Revenue - USD Million, 2019 - 2032)
North America
U.S.
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Latin America
Argentina
Brazil
Mexico
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Shore Power Market Insights
- 4.1. Shore Power - Industry Snapshot
- 4.2. Shore Power Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Rising number of installations of retrofit shore power systems
- 4.2.1.2. Increasing development of high-power products
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Operational and technical challenges
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTLE Analysis
- 4.5. Shore Power Industry Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Shore Power Market, by Power Rating
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Shore Power Market, by Power Rating, 2019-2032 (USD Million)
- 5.3. Up to 30 MVA
- 5.3.1. Global Shore Power Market, by Up to 30 MVA, by Region, 2019-2032 (USD Million)
- 5.4. 30-60 MVA
- 5.4.1. Global Shore Power Market, by 30-60 MVA, by Region, 2019-2032 (USD Million)
- 5.5. Above 60 MVA
- 5.5.1. Global Shore Power Market, by Above 60 MVA, by Region, 2019-2032 (USD Million)
6. Global Shore Power Market, by Component
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Shore Power Market, by Component, 2019-2032 (USD Million)
- 6.3. Transformers
- 6.3.1. Global Shore Power Market, by Transformers, by Region, 2019-2032 (USD Million)
- 6.4. Switchgear Devices
- 6.4.1. Global Shore Power Market, by Switchgear Devices, by Region, 2019-2032 (USD Million)
- 6.5. Frequency Converter
- 6.5.1. Global Shore Power Market, by Frequency Converter, by Region, 2019-2032 (USD Million)
- 6.6. Cables and Accessories
- 6.6.1. Global Shore Power Market, by Cables and Accessories, by Region, 2019-2032 (USD Million)
- 6.7. Others
- 6.7.1. Global Shore Power Market, by Others, by Region, 2019-2032 (USD Million)
7. Global Shore Power Market, by Connection
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Shore Power Market, by Connection, 2019-2032 (USD Million)
- 7.3. New Installation
- 7.3.1. Global Shore Power Market, by New Installation, by Region, 2019-2032 (USD Million)
- 7.4. Retrofit
- 7.4.1. Global Shore Power Market, by Retrofit, by Region, 2019-2032 (USD Million)
8. Global Shore Power Market, by Installation Type
- 8.1. Key Findings
- 8.2. Introduction
- 8.2.1. Global Shore Power Market, by Installation Type, 2019-2032 (USD Million)
- 8.3. Shoreside
- 8.3.1. Global Shore Power Market, by Shoreside, by Region, 2019-2032 (USD Million)
- 8.4. Shipside
- 8.4.1. Global Shore Power Market, by Shipside, by Region, 2019-2032 (USD Million)
- 8.4.2. Passenger Vessel
- 8.4.2.1. Global Shore Power Market, by Passenger Vessel, by Region, 2019-2032 (USD Million)
- 8.4.3. Merchant Vessel
- 8.4.3.1. Global Shore Power Market, by Merchant Vessel, by Region, 2019-2032 (USD Million)
- 8.4.4. Offshore Support Vessel
- 8.4.4.1. Global Shore Power Market, by Offshore Support Vessel, by Region, 2019-2032 (USD Million)
- 8.4.5. Specialized Vessel
- 8.4.5.1. Global Shore Power Market, by Specialized Vessel, by Region, 2019-2032 (USD Million)
9. Global Shore Power Market, by Geography
- 9.1. Key findings
- 9.2. Introduction
- 9.2.1. Shore Power Market Assessment, By Geography, 2019-2032 (USD Million)
- 9.3. Shore Power Market - North America
- 9.3.1. North America: Shore Power Market, by Power Rating, 2019-2032 (USD Million)
- 9.3.2. North America: Shore Power Market, by Installation Type, 2019-2032 (USD Million)
- 9.3.3. North America: Shore Power Market, by Component, 2019-2032 (USD Million)
- 9.3.4. North America: Shore Power Market, by Connection, 2019-2032 (USD Million)
- 9.3.5. Shore Power Market - U.S.
- 9.3.5.1. U.S.: Shore Power Market, by Power Rating, 2019-2032 (USD Million)
- 9.3.5.2. U.S.: Shore Power Market, by Installation Type, 2019-2032 (USD Million)
- 9.3.5.3. U.S.: Shore Power Market, by Component, 2019-2032 (USD Million)
- 9.3.5.4. U.S.: Shore Power Market, by Connection, 2019-2032 (USD Million)
- 9.3.6. Shore Power Market - Canada
- 9.3.6.1. Canada: Shore Power Market, by Power Rating, 2019-2032 (USD Million)
- 9.3.6.2. Canada: Shore Power Market, by Installation Type, 2019-2032 (USD Million)
- 9.3.6.3. Canada: Shore Power Market, by Component, 2019-2032 (USD Million)
- 9.3.6.4. Canada: Shore Power Market, by Connection, 2019-2032 (USD Million)
- 9.4. Shore Power Market - Europe
- 9.4.1. Europe: Shore Power Market, by Power Rating, 2019-2032 (USD Million)
- 9.4.2. Europe: Shore Power Market, by Installation Type, 2019-2032 (USD Million)
- 9.4.3. Europe: Shore Power Market, by Component, 2019-2032 (USD Million)
- 9.4.4. Europe: Shore Power Market, by Connection, 2019-2032 (USD Million)
- 9.4.5. Shore Power Market - UK
- 9.4.5.1. UK: Shore Power Market, by Power Rating, 2019-2032 (USD Million)
- 9.4.5.2. UK: Shore Power Market, by Installation Type, 2019-2032 (USD Million)
- 9.4.5.3. UK: Shore Power Market, by Component, 2019-2032 (USD Million)
- 9.4.5.4. UK: Shore Power Market, by Connection, 2019-2032 (USD Million)
- 9.4.6. Shore Power Market - France
- 9.4.6.1. France: Shore Power Market, by Power Rating, 2019-2032 (USD Million)
- 9.4.6.2. France: Shore Power Market, by Installation Type, 2019-2032 (USD Million)
- 9.4.6.3. France: Shore Power Market, by Component, 2019-2032 (USD Million)
- 9.4.6.4. France: Shore Power Market, by Connection, 2019-2032 (USD Million)
- 9.4.7. Shore Power Market - Germany
- 9.4.7.1. Germany: Shore Power Market, by Power Rating, 2019-2032 (USD Million)
- 9.4.7.2. Germany: Shore Power Market, by Installation Type, 2019-2032 (USD Million)
- 9.4.7.3. Germany: Shore Power Market, by Component, 2019-2032 (USD Million)
- 9.4.7.4. Germany: Shore Power Market, by Connection, 2019-2032 (USD Million)
- 9.4.8. Shore Power Market - Italy
- 9.4.8.1. Italy: Shore Power Market, by Power Rating, 2019-2032 (USD Million)
- 9.4.8.2. Italy: Shore Power Market, by Installation Type, 2019-2032 (USD Million)
- 9.4.8.3. Italy: Shore Power Market, by Component, 2019-2032 (USD Million)
- 9.4.8.4. Italy: Shore Power Market, by Connection, 2019-2032 (USD Million)
- 9.4.9. Shore Power Market - Spain
- 9.4.9.1. Spain: Shore Power Market, by Power Rating, 2019-2032 (USD Million)
- 9.4.9.2. Spain: Shore Power Market, by Installation Type, 2019-2032 (USD Million)
- 9.4.9.3. Spain: Shore Power Market, by Component, 2019-2032 (USD Million)
- 9.4.9.4. Spain: Shore Power Market, by Connection, 2019-2032 (USD Million)
- 9.4.10. Shore Power Market - Netherlands
- 9.4.10.1. Netherlands: Shore Power Market, by Power Rating, 2019-2032 (USD Million)
- 9.4.10.2. Netherlands: Shore Power Market, by Installation Type, 2019-2032 (USD Million)
- 9.4.10.3. Netherlands: Shore Power Market, by Component, 2019-2032 (USD Million)
- 9.4.10.4. Netherlands: Shore Power Market, by Connection, 2019-2032 (USD Million)
- 9.4.11. Shore Power Market - Russia
- 9.4.11.1. Russia: Shore Power Market, by Power Rating, 2019-2032 (USD Million)
- 9.4.11.2. Russia.: Shore Power Market, by Installation Type, 2019-2032 (USD Million)
- 9.4.11.3. Russia: Shore Power Market, by Component, 2019-2032 (USD Million)
- 9.4.11.4. Russia: Shore Power Market, by Connection, 2019-2032 (USD Million)
- 9.5. Shore Power Market - Asia Pacific
- 9.5.1. Asia Pacific: Shore Power Market, by Power Rating, 2019-2032 (USD Million)
- 9.5.2. Asia Pacific: Shore Power Market, by Installation Type, 2019-2032 (USD Million)
- 9.5.3. Asia Pacific: Shore Power Market, by Component, 2019-2032 (USD Million)
- 9.5.4. Asia Pacific: Shore Power Market, by Connection, 2019-2032 (USD Million)
- 9.5.5. Shore Power Market - China
- 9.5.5.1. China: Shore Power Market, by Power Rating, 2019-2032 (USD Million)
- 9.5.5.2. China.: Shore Power Market, by Installation Type, 2019-2032 (USD Million)
- 9.5.5.3. China: Shore Power Market, by Component, 2019-2032 (USD Million)
- 9.5.5.4. China: Shore Power Market, by Connection, 2019-2032 (USD Million)
- 9.5.6. Shore Power Market - India
- 9.5.6.1. India: Shore Power Market, by Power Rating, 2019-2032 (USD Million)
- 9.5.6.2. India.: Shore Power Market, by Installation Type, 2019-2032 (USD Million)
- 9.5.6.3. India: Shore Power Market, by Component, 2019-2032 (USD Million)
- 9.5.6.4. India: Shore Power Market, by Connection, 2019-2032 (USD Million)
- 9.5.7. Shore Power Market - Japan
- 9.5.7.1. Japan: Shore Power Market, by Power Rating, 2019-2032 (USD Million)
- 9.5.7.2. Japan.: Shore Power Market, by Installation Type, 2019-2032 (USD Million)
- 9.5.7.3. Japan: Shore Power Market, by Component, 2019-2032 (USD Million)
- 9.5.7.4. Japan: Shore Power Market, by Connection, 2019-2032 (USD Million)
- 9.5.8. Shore Power Market - Malaysia
- 9.5.8.1. Malaysia: Shore Power Market, by Power Rating, 2019-2032 (USD Million)
- 9.5.8.2. Malaysia.: Shore Power Market, by Installation Type, 2019-2032 (USD Million)
- 9.5.8.3. Malaysia: Shore Power Market, by Component, 2019-2032 (USD Million)
- 9.5.8.4. Malaysia: Shore Power Market, by Connection, 2019-2032 (USD Million)
- 9.5.9. Shore Power Market - Indonesia
- 9.5.9.1. Indonesia: Shore Power Market, by Power Rating, 2019-2032 (USD Million)
- 9.5.9.2. Indonesia.: Shore Power Market, by Installation Type, 2019-2032 (USD Million)
- 9.5.9.3. Indonesia: Shore Power Market, by Component, 2019-2032 (USD Million)
- 9.5.9.4. Indonesia: Shore Power Market, by Connection, 2019-2032 (USD Million)
- 9.5.10. Shore Power Market - South Korea
- 9.5.10.1. South Korea: Shore Power Market, by Power Rating, 2019-2032 (USD Million)
- 9.5.10.2. South Korea.: Shore Power Market, by Installation Type, 2019-2032 (USD Million)
- 9.5.10.3. South Korea: Shore Power Market, by Component, 2019-2032 (USD Million)
- 9.5.10.4. South Korea: Shore Power Market, by Connection, 2019-2032 (USD Million)
- 9.6. Shore Power Market - Middle East & Africa
- 9.6.1. Middle East & Africa: Shore Power Market, by Power Rating, 2019-2032 (USD Million)
- 9.6.2. Middle East & Africa: Shore Power Market, by Installation Type, 2019-2032 (USD Million)
- 9.6.3. Middle East & Africa: Shore Power Market, by Component, 2019-2032 (USD Million)
- 9.6.4. Middle East & Africa: Shore Power Market, by Connection, 2019-2032 (USD Million)
- 9.6.5. Shore Power Market - Saudi Arabia
- 9.6.5.1. Saudi Arabia: Shore Power Market, by Power Rating, 2019-2032 (USD Million)
- 9.6.5.2. Saudi Arabia: Shore Power Market, by Installation Type, 2019-2032 (USD Million)
- 9.6.5.3. Saudi Arabia: Shore Power Market, by Component, 2019-2032 (USD Million)
- 9.6.5.4. Saudi Arabia: Shore Power Market, by Connection, 2019-2032 (USD Million)
- 9.6.6. Shore Power Market - South Africa
- 9.6.6.1. South Africa: Shore Power Market, by Power Rating, 2019-2032 (USD Million)
- 9.6.6.2. South Africa: Shore Power Market, by Installation Type, 2019-2032 (USD Million)
- 9.6.6.3. South Africa: Shore Power Market, by Component, 2019-2032 (USD Million)
- 9.6.6.4. South Africa: Shore Power Market, by Connection, 2019-2032 (USD Million)
- 9.6.7. Shore Power Market - Israel
- 9.6.7.1. Israel: Shore Power Market, by Power Rating, 2019-2032 (USD Million)
- 9.6.7.2. Israel: Shore Power Market, by Installation Type, 2019-2032 (USD Million)
- 9.6.7.3. Israel: Shore Power Market, by Component, 2019-2032 (USD Million)
- 9.6.7.4. Israel: Shore Power Market, by Connection, 2019-2032 (USD Million)
- 9.6.8. Shore Power Market - UAE
- 9.6.8.1. UAE: Shore Power Market, by Power Rating, 2019-2032 (USD Million)
- 9.6.8.2. UAE: Shore Power Market, by Installation Type, 2019-2032 (USD Million)
- 9.6.8.3. UAE: Shore Power Market, by Component, 2019-2032 (USD Million)
- 9.6.8.4. UAE: Shore Power Market, by Connection, 2019-2032 (USD Million)
- 9.7. Shore Power Market - Latin America
- 9.7.1. Latin America: Shore Power Market, by Power Rating, 2019-2032 (USD Million)
- 9.7.2. Latin America: Shore Power Market, by Installation Type, 2019-2032 (USD Million)
- 9.7.3. Latin America: Shore Power Market, by Component, 2019-2032 (USD Million)
- 9.7.4. Latin America: Shore Power Market, by Connection, 2019-2032 (USD Million)
- 9.7.5. Shore Power Market - Mexico
- 9.7.5.1. Mexico: Shore Power Market, by Power Rating, 2019-2032 (USD Million)
- 9.7.5.2. Mexico: Shore Power Market, by Installation Type, 2019-2032 (USD Million)
- 9.7.5.3. Mexico: Shore Power Market, by Component, 2019-2032 (USD Million)
- 9.7.5.4. Mexico: Shore Power Market, by Connection, 2019-2032 (USD Million)
- 9.7.6. Shore Power Market - Brazil
- 9.7.6.1. Brazil: Shore Power Market, by Power Rating, 2019-2032 (USD Million)
- 9.7.6.2. Brazil: Shore Power Market, by Installation Type, 2019-2032 (USD Million)
- 9.7.6.3. Brazil: Shore Power Market, by Component, 2019-2032 (USD Million)
- 9.7.6.4. Brazil: Shore Power Market, by Connection, 2019-2032 (USD Million)
- 9.7.7. Shore Power Market - Argentina
- 9.7.7.1. Argentina: Shore Power Market, by Power Rating, 2019-2032 (USD Million)
- 9.7.7.2. Argentina: Shore Power Market, by Installation Type, 2019-2032 (USD Million)
- 9.7.7.3. Argentina: Shore Power Market, by Component, 2019-2032 (USD Million)
- 9.7.7.4. Argentina: Shore Power Market, by Connection, 2019-2032 (USD Million)
10. Competitive Landscape
- 10.1. Expansion and Acquisition Analysis
- 10.1.1. Expansion
- 10.1.2. Acquisitions
- 10.2. Partnerships/Collaborations/Agreements/Exhibitions
11. Company Profiles
- 11.1. AC Power
- 11.1.1. Company Overview
- 11.1.2. Financial Performance
- 11.1.3. Product Benchmarking
- 11.1.4. Recent Development
- 11.2. VINCI Energies
- 11.2.1. Company Overview
- 11.2.2. Financial Performance
- 11.2.3. Product Benchmarking
- 11.2.4. Recent Development
- 11.3. ABB Group
- 11.3.1. Company Overview
- 11.3.2. Financial Performance
- 11.3.3. Product Benchmarking
- 11.3.4. Recent Development
- 11.4. Blueday Technology
- 11.4.1. Company Overview
- 11.4.2. Financial Performance
- 11.4.3. Product Benchmarking
- 11.4.4. Recent Development
- 11.5. Cavotec
- 11.5.1. Company Overview
- 11.5.2. Financial Performance
- 11.5.3. Product Benchmarking
- 11.5.4. Recent Development
- 11.6. ESL Power Systems
- 11.6.1. Company Overview
- 11.6.2. Financial Performance
- 11.6.3. Product Benchmarking
- 11.6.4. Recent Development
- 11.7. General Electric Corporation
- 11.7.1. Company Overview
- 11.7.2. Financial Performance
- 11.7.3. Product Benchmarking
- 11.7.4. Recent Development
- 11.8. Igus GmbH
- 11.8.1. Company Overview
- 11.8.2. Financial Performance
- 11.8.3. Product Benchmarking
- 11.8.4. Recent Development
- 11.9. Cochran Marine
- 11.9.1. Company Overview
- 11.9.2. Financial Performance
- 11.9.3. Product Benchmarking
- 11.9.4. Recent Development
- 11.10. Danfoss
- 11.10.1. Company Overview
- 11.10.2. Financial Performance
- 11.10.3. Product Benchmarking
- 11.10.4. Recent Development
- 11.11. Siemens
- 11.11.1. Company Overview
- 11.11.2. Financial Performance
- 11.11.3. Product Benchmarking
- 11.11.4. Recent Development
- 11.12. Schneider Electric
- 11.12.1. Company Overview
- 11.12.2. Financial Performance
- 11.12.3. Product Benchmarking
- 11.12.4. Recent Development
- 11.13. Smart Plug Systems
- 11.13.1. Company Overview
- 11.13.2. Financial Performance
- 11.13.3. Product Benchmarking
- 11.13.4. Recent Development
- 11.14. Wartsila
- 11.14.1. Company Overview
- 11.14.2. Financial Performance
- 11.14.3. Product Benchmarking
- 11.14.4. Recent Development