Shore Power Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

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Shore Power Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

Status : October, 2020 | Energy & Mining | PPT format

Report Digest


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

  • Expeditionary Strike Group THREE (ESG 3) conducted and hosted an event called ‘Shore Power 2019’ aimed at the Naval Base San Diego theatre on 18th of July. Over 200 engineers and sailors attended the event that focused on educating port operators about safety measures required to handle shore power. Feedback from event lectures can help companies in critically analysing the risks associated with shore power.
  • Oshima Shipbuilding, the Nagasaki-based company that manufactures bulk carriers, developed a ship that runs solely on battery power. This development could inspire other manufacturers of bulk carriers to invest in core research and development.  Furthermore, the shore power market could gain fresh revenues as Oshima’s new carrier attracts a fresh consumer base.

Some of the leading vendors in the global shore power market are:

  • Cavotec (Switzerland)
  • Siemens (Germany)
  • ABB (Switzerland)
  • Wärtsilä (Finland)
  • Schneider Electric (France)

Global Shore Power Market: Growth Drivers

  • Need for Electricity across Small Craft Boats

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.

  • Use of Shore Power for Aircrafts

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.

  • Need for Saving Natural Fuels

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

  • Transformer
  • Switchgear
  • Frequency Converter
  • Cable & accessories
  • Others (Auxiliary Power System, and Voltage Stabilizers)

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?