Shore Power Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Global Shore Power Market: Snapshot
Shore power is a means to provide electricity from the shore to a ship while it is being docked.
The global shore power market is expected to witness strong growth in the coming years. The ships that have been docked need electricity for many operations and need a bypass route to obtain electricity. The fresh mode of procuring this electrical power cannot be linked to the ship's internal engine and as a result, shore power becomes a useful way to transmit electricity.
Shore power is usually related to big ships, but its usage in small vessels and ships cannot be undermined. A shipping dock has different type of craft boats and the total energy needed by them is huge. Therefore, the shore power market is growing of fleets right through the marine industry. One of the primary growth drivers in the global shore power market is the usage in small craft boats.
Another growth driver for the shore power market is its usage in aircraft. The shore power market comprises supply operations to comply with the energy demands of ground aircraft. The employment of ground power units at defence bases has played an important role in the market growth. In addition, the use of auxiliary power units for aircraft also goes in line with growth in the shore power market.
Mainly shore power is used for offshore activities, but other transportation modes such as buses and trucks could also obtain electricity through this medium. The presence of a profitable maritime monitoring industry has also fueled the shore power market growth. The principal reason for the digitization demand is to meet the electricity needs of docks.
The Environmental Protection Agency in the US states that large amounts of power could be saved by utilizing smart grids for the electrification of land vehicles. As a result, using Truck Stop Electrification for strengthening parked trucks has played an important role in growth of the shore power market.
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
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