Press release
Shore Power Market Growing at a CAGR of 11.32% To Surpass USD 4,869.05 Million by 2032
Polaris Market Research has recently published its latest research report titled "Shore Power Market by Installation Type (Shoreside, and Shipside), Connection, Component, Power Rating, Region - Global Forecast to 2032." The report states that the market for shore power was valued at USD 1,669.15 million in 2022 and is projected to grow to USD 4,869.05 million by 2032, exhibiting a compound annual growth rate (CAGR) of 11.32% during the forecast period of 2023 to 2032.๐๐๐ซ๐ค๐๐ญ ๐๐ง๐ญ๐ซ๐จ๐๐ฎ๐๐ญ๐ข๐จ๐ง:
When docked at port, ships, RVs, and other heavy-duty vehicles need power to maintain their heating, cooling, lighting, and other important functions. Typically, the power required is provided by operating the Diesel-fueled auxiliary engines of the ship.
๐๐๐ญ ๐๐ฑ๐๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ ๐จ๐ ๐๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.polarismarketresearch.com/industry-analysis/shore-power-market/request-for-sample
Shore power, also referred to as alternative marine power, is an alternative way of providing power for the essential functions of the ship. As the name implies, shore power involves providing electrical power from the shore to the ship when it's docked.
That way, the auxiliary engines of the ship can be turned off, enabling the burning of diesel fuel to cease. Shore power offers numerous benefits for both end users and the environment. The most well-known benefit of shore power is the reduction of emissions in the environment. Along with that, shore power is helpful in reducing the wear and tear of the engine.
๐๐ซ๐จ๐ฐ๐ญ๐ก ๐๐ซ๐ข๐ฏ๐๐ซ๐ฌ:
The growing number of installations of retrofit shore power systems is propelling the shore power market forward. Owing to regulatory changes and the rise of terminals using this power, shipping firms are increasingly adding marine power into new ships and upgrading their old ones.
The increasing development of high-power products across various verticals is boosting the demand for shore power. Furthermore, the ability of shore power to reduce underwater noise and help achieve emission targets is having a favorable impact on the industry's expansion.
๐๐ฎ๐ฒ ๐๐จ๐ฐ ๐๐ก๐ข๐ฌ ๐๐ซ๐๐ฆ๐ข๐ฎ๐ฆ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ: https://www.polarismarketresearch.com/buy/2059/2
๐๐จ๐ฆ๐ฉ๐๐ญ๐ข๐ญ๐ข๐ฏ๐ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ
The market for shore power has the presence of both established players and new entrants. Some of the top players operating in the industry are:
โข AC Power Corp.
โข ABB Group
โข Blueday Technology Limited
โข Cavotec SA
โข Cochran Marine LLC
โข Danfoss A/S
โข ESL Power Systems Inc.
โข General Electric Corporation
โข Igus GmbH
โข Siemens AG
โข Schneider Electric Group
๐๐ก๐จ๐ซ๐ ๐๐จ๐ฐ๐๐ซ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ข๐ ๐ก๐ฅ๐ข๐ ๐ก๐ญ๐ฌ :
โข The retrofit segment is anticipated to grow at a significant CAGR over the forecast period. The expanding number of terminals with marine power infrastructure is likely to result in a major increase in the retrofit segment as well.
โข The shipside segment accounted for considerable global revenue share due to rising interest in passenger ships as well as increasing interest in cargo ships.
โข Asia-Pacific is expected to grow at a significant CAGR over the projected period. This is rising owing to the rising government investment in the installation of electricity plants at the shoreside as well as increasing cruise travelers.
๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ ๐ญ๐ก๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐จ๐ฆ๐ฉ๐ซ๐๐ก๐๐ง๐ฌ๐ข๐ฏ๐ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐๐ซ๐: https://www.polarismarketresearch.com/industry-analysis/shore-power-market
๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ:
โข North America (U.S., Canada)
โข Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
โข Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
โข Latin America (Brazil, Mexico, Argentina)
โข Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ฅ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ:
โข ๐๐ฒ ๐๐ง๐ฌ๐ญ๐๐ฅ๐ฅ๐๐ญ๐ข๐จ๐ง ๐๐ฒ๐ฉ๐
o Shoreside
o Shipside
o Passenger Vessel
o Merchant Vessel
o Offshore Support Vessel
o Specialized Vessel
โข ๐๐ฒ ๐๐จ๐ฐ๐๐ซ ๐๐๐ญ๐ข๐ง๐
o Up to 30 MVA
o 30-60 MVA
o Above 60 MVA
โข ๐๐ฒ ๐๐จ๐ฆ๐ฉ๐จ๐ง๐๐ง๐ญ
o Transformers
o Switchgear Devices
o Frequency Converter
o Cables and Accessories
o Others
โข ๐๐ฒ ๐๐จ๐ง๐ง๐๐๐ญ๐ข๐จ๐ง
o New Installation
o Retrofit
๐๐จ๐ซ๐ ๐๐ซ๐๐ง๐๐ข๐ง๐ ๐๐๐ญ๐๐ฌ๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐๐ฒ ๐๐จ๐ฅ๐๐ซ๐ข๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก:
๐๐ฒ๐๐ซ๐จ๐ ๐๐ง ๐๐ฎ๐๐ฌ ๐๐๐ซ๐ค๐๐ญ : https://www.polarismarketresearch.com/industry-analysis/hydrogen-hubs-market
๐๐ง๐๐ซ๐ ๐ฒ ๐๐ง๐ ๐ข๐ง๐๐๐ซ๐ข๐ง๐ ๐๐๐ซ๐ฏ๐ข๐๐ ๐๐ฎ๐ญ๐ฌ๐จ๐ฎ๐ซ๐๐ข๐ง๐ (๐๐๐) ๐๐๐ซ๐ค๐๐ญ : https://www.polarismarketresearch.com/industry-analysis/energy-engineering-service-outsourcing-eso-market
๐๐จ๐ฅ๐๐ซ ๐๐ง๐๐๐ฉ๐ฌ๐ฎ๐ฅ๐๐ญ๐ข๐จ๐ง ๐๐๐ซ๐ค๐๐ญ : https://www.polarismarketresearch.com/industry-analysis/solar-encapsulation-market
๐๐๐๐ญ ๐๐๐ญ๐๐ซ ๐๐๐ซ๐ค๐๐ญ : https://www.polarismarketresearch.com/industry-analysis/heat-meter-market
๐๐จ๐ง๐ญ๐๐๐ญ ๐๐ฌ:
Polaris Market Research
30 Wall Street, 8th Floor,
New York City, NY 10005,
United States
Phone:+1-929 297-9727
Email: sales@polarismarketresearch.com
๐๐๐จ๐ฎ๐ญ ๐๐ฌ:
Polaris Market Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Polaris Market Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We at Polaris are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defence, among different ventures present globally.
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