Shore Power Market Size to Reach USD 1,623.10 million by 2030, Size, Share, Demand, Trends and Growth Opportunities

PRESS RELEASE
Published February 27, 2023

The shore power market size is projected to be worth USD 1,623.10 million by 2030, registering a CAGR of 11.90% during the forecast period (2022–2030).

The Shore Power Market report aims to provide insight into the industry through detailed market segmentation. The report offers detailed information on the overview and scope of the market along with its drivers, restraints, and trends. This report is designed to include qualitative and quantitative aspects of the industry in each region and country participating in the study.

The scope of this research report spans from the broad outlines of the Shore Power market to delicate structures, classifications, and applications. This research report also provides a clear picture of the global market by presenting data through effective information graphics. It also provides a detailed list of factors affecting the growth of the market.

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Key Players Mentioned in the Global Shore Power Market Research Report:

GE (US), Siemens (Germany), Schneider Electric (France), ABB (Switzerland), Eaton (Ireland), Conntek Integrated Solutions Inc. (US), Piller Power Systems (Germany), Power Systems International (UK), Sydney Marine Electrical (Australia), Ratio Electric (Netherlands), Danfoss (Denmark), Wartsila (US), Cavotec (Switzerland), Watts Marine (US), Preen (Taiwan), VINCI Energies (France), Wabtec Corporation (US), SmartPlug (US), Blueday Technology (Norway), IGUS (Germany), ESL Power Systems (US), Patton & Cooke Co. (Canada).

Global Shore Power Market Segmentation:

Based on installation type, the market has been segmented as follows:

  • Shoreside
  • Shipside

Based on connection, the market has been segmented as follows:

  • New installation
  • Retrofit

Based on component, the market has been segmented as follows:

  • Transformers
  • Switchgear Devices
  • Frequency Converters
  • Cables and Accessories
  • Others

Based on power rating, the market has been segmented as follows:

  • Up to 30 MVA
  • 30-60 MVA
  • Above 60 MVA

Based on the region, the market has been segmented as follows:

The report provides a good overview of the key macroeconomic factors that have a significant impact on the growth of the Shore Power market. It also provides absolute dollar opportunity analysis, which is essential for identifying revenue-generating and increasing sales opportunities in the Shore Power market. Market players can utilize the qualitative and quantitative analysis provided in the report to fully understand the Shore Power market and make great strides in the industry in terms of growth. The overall size of the Shore Power market and the overall size of each segment studied in the report are precisely calculated based on various factors.

The base of geography, the world market of Shore Power has segmented as follows:

  • North America includes the United States, Canada, and Mexico
  • Europe includes Germany, France, UK, Italy, Spain
  • South America includes Colombia, Argentina, Nigeria, and Chile
  • The Asia Pacific includes Japan, China, Korea, India, Saudi Arabia, and Southeast Asia

Recent Developments

  • In November 2021, The U.S. Navy Military Sealift Command (MSC) awarded GE Power Conversion an indefinite-delivery/indefinite-quantity (IDIQ) contract to maintain the electric and hybrid electric power and propulsion systems aboard its vessels. The five-year contract could be potentially worth USD 125 million.
  • In March 2021, Siemens Smart Infrastructure has been commissioned by Germany’s Port of Kiel to deploy a Cloud-based power monitoring solution for its shore power system.
  • In December 2020, Eaton signed an agreement to acquire a 50% stake in HuanYu High Tech, a subsidiary of HuanYu Group that manufactures and supplies low voltage circuit breakers and contractors in China and throughout the Asia Pacific region.
  • In May 2020, Schneider Electric was awarded a contract for the UK’s first large ship-to-shore commercial connection in Stromness, Orkney, to supply locally produced ‘green’ electrical power to the MV Hamnavoe NorthLink ferry while at berth.
  • In October 2019, ABB (Hitachi) and the Port of Tallinn signed a contract to install shore power systems on the port of Tallinn. Under the contract, ABB is to provide its shore power systems on five of its piers in the Old City Harbor as part of the first shore power project in Estonia. The project aimed to supply shore electricity to the vessels that visit the port and reduce emissions and noise created by ships’ engines.

The objective of the studies:

– To provide a detailed analysis of the market structure along with a forecast of the various segments and sub-segments of the global Shore Power Market.

-Provide information on factors affecting the growth of the market. To analyze the Shore Power Market based on various factors- price analysis, supply chain analysis, Gate Five force analysis, etc.

-Provide historical and forecast revenue of market segments and sub-segments for four major geographies and their countries – North America, Europe, Asia, Latin America and Rest of the World.

-Provide country level market analysis relative to current market size and future prospects.

– To provide country level market analysis for the segment by application, product type and sub-segments.

-Provide a strategic profile of the major market players, by deeply analyzing their core competencies and drawing a competitive landscape for the market.

– Track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global Shore Power Market.

Table of Contents:

1 Study Coverage

2 Market by Type

3 Market by Application

4 Global Shore Power Competitor Landscape by Company

5 Global Shore Power Market Size by Region

6 Segment in Region Level & Country Level

7 Company Profiles

8 Industry Chain and Sales Channels Analysis

9 Research Findings and Conclusion

Conclusion: At the end of Shore Power Market report, all the findings and estimation are given. It also includes major drivers, and opportunities along with regional analysis. Segment analysis is also providing in terms of type and application both.

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Relevant points Highlighted:

  • The report includes an overall business forecast that aims to gain valuable insights into the global Shore Power Market.
  • The main segments have been further classified into sub-segments for a detailed review and a deeper understanding of the industry.
  • The factors leading to market growth have been listed. The data has been collected from primary and secondary sources and analyzed by professionals in the field.
  • The study analyses the latest trends and company profiles of the major players in the market.

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