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Shore Power Market Trends

  • Report ID: 3093
  • Published Date: Sep 03, 2024
  • Report Format: PDF, PPT

Shore Power Market Trends

Growth Drivers

  • Rising Government Awareness to Reduce Carbon Emissions from Ports
  • Growing Number of Luxury Ships for Shipping Business

Challenges

  • High Installation and Maintenance Costs of Shore Power

Shore Power Market: Key Insights

Base Year

2023

Forecast Year

2024–2036

CAGR

10.6%

Base Year Market Size (2023)

USD 1.65 billion

Forecast Year Market Size (2036)

USD 6.11 billion

Regional Scope
  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Browse Key Market Insights with Data Illustration:

Author Credits:  Dhruv Bhatia


  • Report ID: 3093
  • Published Date: Sep 03, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of shore power is assessed at USD 1.79 billion.

Shore Power Market size was valued at USD 1.65 billion in 2023 and is expected to exceed USD 6.11 billion by 2036, expanding at over 10.6% CAGR during the forecast period i.e., between 2024-2036. The market growth is impelled by increasing government awareness to reduce carbon emissions from ports and growing number of luxury ships for shipping business.

Asia Pacific is set to account for largest revenue share by 2036, on the back of growing adoption of shore power systems and presence of some of the world’s busiest and largest ports in the region.

The major players in the market are Schneider Electric, Siemens AG, ABB Ltd, Switzerland, Cavotec SA, Wärtsilä Corporation, and others.
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