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News - Full Story Shore Power Market by Installation, by Connection, Component, Power Output, and Region - Global Forecast to 2025

DUBLIN, June 29, 2020 /PRNewswire/ -- The "Shore Power Market by Installation (Shoreside, Shipside), by Connection (New Installation, Retrofit), Component (Transformers, Frequency Converters, and More), Power Output (Up to 30 MVA, 30 to 60 MVA, Above 60 MVA), and Region - Global Forecast to 2025" report has been added to's offering.

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The shore power market size is projected to reach USD 1.4 billion by 2025 from USD 1.1 billion in 2020, at a CAGR of 6.7%.

Rising adoption of new technologies for limiting carbon emissions in the developed regions is the key driver for this market during the forecast period.

Shoreside installation is expected to be largest market during forecast period

The market has been segmented, by installation, into shoreside and shipside installations. The shoreside segment is expected to be the most shore power market, by installation, during the forecast period. This growth can be attributed to the high cost of components that need to be installed in shoreside shore power systems. Also, some additional components are required on the shoreside to make the shoreside shore power system more flexible and meet the power requirements of different types of vessels.

New installation segment is expected to be largest in the shore power market, by connection, during forecast period

The shore power market, by connection, has been segmented into new installations and retrofit. The new installation segment is expected to be the largest in the shore power market, by location, during the forecast period. This growth can be attributed to the increase in the number of stringent environmental norms by various countries. All under-construction ports and upcoming vessels are being installed with shore power systems during construction or beforehand. This procedure also reduces the cost of implementation.

Frequency converters segment is expected to hold largest share of shore power market, by component, during forecast period

The market has been segmented, by component, into transformers, switchgear devices, frequency converters, cables and accessories, and others, including safety grounding equipment and plugs. Frequency converters enable the shoreside shore power system to supply frequency matching the vessel's operating frequency.

North America is expected to lead in global shore power

Though the Asia Pacific is the fastest-growing market during the forecast period, North America is the largest shore power market, followed by Europe and the Asia Pacific. It is expected in North America that there will be maximum adoption and implementation of shore power systems owing to the favourable regulations in multiple states across the countries. Major countries in this region include the US and Canada. The North American region experiences significant vessel movement owing to the sea-bound trade of commodities. Additionally, the US and Canada are among the top oil producers in the world who export this oil to other parts of the world.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in Shore Power Market
4.2 Shore Power Market, by Region
4.3 Shore Power Market, by Installation Type
4.4 Shore Power Market, by Connection
4.5 North American Shore Power Market, by Installation Type and Country, 2019
4.6 Shore Power Market, by Component

5 Market Overview
5.1 Introduction
5.2 Covid-19 Health Assessment
5.3 Market Dynamics
5.3.1 Drivers Growing Noise and Air Pollution from Port Operations Increasing Number of Cruise Passengers Rising Government Initiatives to Reduce Greenhouse Gas Emissions from Ports and Supportive Shore Power Regulations
5.3.2 Restraints High Capex Investments
5.3.3 Opportunities Retrofitting Older Ships and Ports With Shore Power Technology Integrating Shore Power With Offshore Wind, Floating Solar, and Other Renewables
5.3.4 Challenges Low Fuel Costs and Minimal Returns Operational Difficulties and Technical Challenges
5.4 Impact of Covid-19
5.4.1 Impact on Shipping Industry
5.5 Technology Analysis
5.5.1 Wireless Shore Power
5.6 Value Chain Analysis
5.6.1 Shore Power Manufacturers and Providers
5.6.2 Port Authorities
5.6.3 Shipping Industry
5.6.4 Government Regulations

6 Covid-19 Impact on Shore Power Market, Scenario Analysis, By Region
6.1 Introduction
6.2 Impact of Covid-19 on Gdp
6.2.1 Scenario Analysis of Cargo Shipping and Cruise Liner Industry
6.2.2 Optimistic Scenario
6.2.3 Realistic Scenario
6.2.4 Pessimistic Scenario

7 Shore Power Market, by Installation Type
7.1 Introduction
7.2 Shoreside
7.2.1 Emphasis on Curbing Carbon Emissions Creating Requirement for Shoreside Installations
7.3 Shipside
7.3.1 Low Cost of Deployment and Seamless Integration of Port Operations Boosting Market for Shipside Installations

8 Shore Power Market, by Connection
8.1 Introduction
8.2 New Installation
8.2.1 Stringent Government Regulations and Low Installation Cost Foster Market for New Installations
8.3 Retrofit
8.3.1 Increased Need to Minimize Carbon Emissions and Noise Levels from Old Ships Encourages Adoption of Retrofit Solutions

9 Shore Power Market, by Component
9.1 Introduction
9.2 Transformers
9.2.1 Growing Transformer Requirement for Smooth Operation of Shore Power Systems
9.3 Switchgear Devices
9.3.1 Rising Need for Switchgear Devices to Ensure Reliable and Safe Shore Power Operations
9.4 Frequency Converters
9.4.1 Surging Demand for Frequency Converters to Match Shipside and Shoreside Frequencies
9.5 Cables and Accessories
9.5.1 Growing Necessity for Cables and Supporting Accessories for Proper Transmission of Power
9.6 Others

10 Shore Power Market, by Power Output
10.1 Introduction
10.2 Up to 30 MVA
10.2.1 Requirement for Low Capex, Coupled With Their Compact Dimensions, Boosting Demand for Shore Power Systems Having Power Range of Up to 30 MVA
10.3 30 to 60 MVA
10.3.1 Focus of Shipbuilders to Construct Large and Extra Large Ships to Drive Demand for Shore Power Systems With Power Output Ranging from 30 to 60 MVA
10.4 Above 60 MVA
10.4.1 Ability to Supply Multiple Ships Parallelly to Propel Growth of Market for Shore Power Systems Having Power Output of Above 60 MVA

11 Shore Power Market, by Region
11.1 Introduction
11.2 North America
11.2.1 Impact of Covid-19 on North American Shore Power Market:
11.2.2 Us Growing Shipping Industry With Increasing Tourism and Trade to Boost Demand for Shore Power Systems
11.2.3 Canada Increasing Investments in Oil & Gas Projects to Promote Shore Power Setup at Ports
11.3 South America
11.3.1 Impact of Covid-19 on South American Shore Power Market:
11.3.2 Brazil Growing Oil Export Activities in Brazil to Create Need for Shore Power Systems
11.3.3 Argentina Increasing Trading of Mined Minerals to Be Beneficial for Shore Power Market in Future
11.3.4 Rest of South America
11.4 Middle East & Africa
11.4.1 Impact of Covid-19 on Middle Eastern & African Shore Power Market:
11.4.2 Uae Increasing Oil Trading and Tourism Activities to Generate Need for Shore Power
11.4.3 Saudi Arabia Increasing Trading Activities of Oil and Natural Gas to Create Favorable Conditions for Shore Power Market
11.4.4 Egypt Rising Focus on Implementing Shore Power Systems on Multiple Ports to Foster Market Growth
11.4.5 South Africa Growing Trading-Related Activities of Oil and Natural Gas to Encourage Utilization of Shore Power Technique on Ports
11.4.6 Rest of Middle East & Africa
11.5 Europe
11.5.1 Impact of Covid-19 on European Shore Power Market:
11.5.2 Sweden Surging Requirement for Importing Goods and Growing Cruise Ship Tourism to Propel Shore Power Market Growth
11.5.3 Germany Rapidly Growing Maritime and Shipping Industries to Accelerate Demand for Shore Power Systems
11.5.4 UK Thriving Shipping Industry in Country to Fuel Installation of Shore Power Systems
11.5.5 Russia Increasing Sea-Bound Trade to Boost Shore Power Demand
11.5.6 Netherlands Enhancing Maritime Industry in Country Stimulating Need for Shore Power to Minimize Pollution
11.5.7 Norway Rising Focus on Deployment of New Technologies Such as Shore Power to Reduce Carbon Footprint
11.5.8 Rest of Europe
11.6 Asia-Pacific
11.6.1 Impact of Covid-19 on Shore Power Market in Asia-Pacific:
11.6.2 China Increased Vessel Movement With Growing Trading Activities to Propel Growth of Shore Power Market
11.6.3 Japan High Emphasis on Reducing Carbon Emissions, Coupled With Expanding Trading Activities, to Spur Shore Power Demand
11.6.4 South Korea Rapid Growth of Shipbuilding Industry Requires Country to Be Well Equipped With Shore Power Systems
11.6.5 India High Government Focus to Make Country Cleaner and Greener, Along With Thriving Maritime Industry, to Support Adoption of Shore Power Technology
11.6.6 Australia Trading of Fuels and Growing Shipbuilding Industry to Create Opportunities for Providers of Shore Power Systems
11.6.7 Singapore High Emphasis of Government on Utilization of Green Solutions to Reduce Carbon Emissions Likely to Encourage Implementation of Shore Power Solutions
11.6.8 Rest of Asia-Pacific

12 Competitive Landscape
12.1 Overview
12.2 Competitive Leadership Mapping (Overall Market)
12.2.1 Star
12.2.2 Emerging Leaders
12.2.3 Pervasive
12.2.4 Other Players
12.3 Market Share, 2019
12.4 Revenue Analysis of Top 5 Players
12.5 Competitive Scenario
12.5.1 Contracts & Agreements
12.5.2 Partnerships & Collaborations
12.5.3 Investments & Expansions
12.5.4 Product Launches
12.5.5 Mergers & Acquisitions

13 Company Profiles
13.1 Siemens
13.2 Schneider Electric
13.3 Cavotec
13.4 Wartsila
13.5 Vinci Energies
13.6 Danfoss
13.7 Abb (Hitachi)
13.8 Esl Power Systems
13.9 Igus
13.10 Blueday Technology
13.11 Cochran Marine
13.12 Preen
13.13 Smartplug
13.14 Piller Power Systems
13.15 Power Systems International
13.16 Ratio Electric
13.17 Sydney Marine Electrical
13.18 Ocean Electrics
13.19 Conntek Integrated Solutions
13.20 Patton and Cooke

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