Shore Power Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Global Shore Power Market: Overview
The marine industry consumes a substantial amount of energy, and this factor could place a toll on the energy sector of coastal regions. Powering ships, while meeting their in-house electricity requirement, is a key consideration for port operators. Ships that have been docked also require electricity for several menial operations. Therefore, all types of vessels and ships require a bypass route for electricity procurement. This new route of procurement cannot be related to the internal engine of the ships. Hence, the global shore power market is expected to grow at a sound pace in the years to follow.
Although shore power is essentially used for offshore activities, bus and truck fleets may also procure electricity through this route. Hence, there lies tremendous scope for growth across the global shore power market. Furthermore, the presence of a seamless industry for maritime monitoring has also aided market growth. The need for shore power can be gauged from the rate of digitization across ports and bays. The primary reason behind this spree of digitization is to meet the electricity requirements of docks.
A syndicate report on the global shore power market delves into the details of market demand and supply. The global shore power market can be segmented on the basis of the following parameters: installation, connection, and component. Based on component type, switchgears for shore power generation are extremely important from the perspective of operations.
Global Shore Power Market: Notable Developments
Some of the leading vendors in the global shore power market are:
Global Shore Power Market: Growth Drivers
Although shore power largely corresponds to large vessels and ships, the use of electricity on small boats cannot be underestimated. A docket encapsulates a large fleet of craft boats, and the cumulative energy requirements of these boats is quite high. Hence, the global shore power market is growing alongside expansion of fleets across the marine industry.
The shore power market also includes supply operations for meeting the energy requirements of ground aircrafts. The use of ground power units (GPUs) for aircrafts at military bases and hangars has played a key role in market growth. The use of auxiliary power units for powering aircrafts also corresponds to the shore power market.
The Environmental Protection Agency of the US asserts that huge amount of power can be saved by using smart grids for electrification of land vehicles. Hence, the use of Truck Stop Electrification (TSE) for powering parked trucks plays a vital role in market growth.
The global shore power market can be segmented as:
Based on Component
The study presents a granular assessment and quantitative evaluation of:
The region-wise assessment includes market dynamics in:
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
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