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Shore Power Market Growing at a CAGR of 11.32% To Surpass USD 4,869.05 Million by 2032

04-22-2024 10:08 AM CET | Energy & Environment

Press release from: Polaris Market Research & Consulting

Shore Power Market

Shore Power Market

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.

๐Œ๐š๐ซ๐ค๐ž๐ญ ๐ˆ๐ง๐ญ๐ซ๐จ๐๐ฎ๐œ๐ญ๐ข๐จ๐ง:

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.

๐†๐ž๐ญ ๐„๐ฑ๐œ๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ž ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐๐š๐ ๐ž๐ฌ ๐จ๐Ÿ ๐“๐ก๐ข๐ฌ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ: 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.

๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐ƒ๐ซ๐ข๐ฏ๐ž๐ซ๐ฌ:
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.

๐๐ฎ๐ฒ ๐๐จ๐ฐ ๐“๐ก๐ข๐ฌ ๐๐ซ๐ž๐ฆ๐ข๐ฎ๐ฆ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐‘๐ž๐ฉ๐จ๐ซ๐ญ๐ฌ: https://www.polarismarketresearch.com/buy/2059/2

๐‚๐จ๐ฆ๐ฉ๐ž๐ญ๐ข๐ญ๐ข๐ฏ๐ž ๐ˆ๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ

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:

โ€ข AC Power Corp.
โ€ข ABB Group
โ€ข Blueday Technology Limited
โ€ข Cavotec SA
โ€ข Cochran Marine LLC
โ€ข Danfoss A/S
โ€ข ESL Power Systems Inc.
โ€ข General Electric Corporation
โ€ข Igus GmbH
โ€ข Siemens AG
โ€ข Schneider Electric Group

๐’๐ก๐จ๐ซ๐ž ๐๐จ๐ฐ๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐‡๐ข๐ ๐ก๐ฅ๐ข๐ ๐ก๐ญ๐ฌ :

โ€ข 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.

โ€ข The shipside segment accounted for considerable global revenue share due to rising interest in passenger ships as well as increasing interest in cargo ships.

โ€ข 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.

๐„๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ž ๐ญ๐ก๐ž ๐‚๐จ๐ฆ๐ฉ๐ฅ๐ž๐ญ๐ž ๐‚๐จ๐ฆ๐ฉ๐ซ๐ž๐ก๐ž๐ง๐ฌ๐ข๐ฏ๐ž ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐‡๐ž๐ซ๐ž: https://www.polarismarketresearch.com/industry-analysis/shore-power-market

๐‘๐ž๐ ๐ข๐จ๐ง๐š๐ฅ ๐Ž๐ฏ๐ž๐ซ๐ฏ๐ข๐ž๐ฐ:

โ€ข North America (U.S., Canada)
โ€ข Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
โ€ข Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
โ€ข Latin America (Brazil, Mexico, Argentina)
โ€ข Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ๐š๐ฅ ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ:

โ€ข ๐๐ฒ ๐ˆ๐ง๐ฌ๐ญ๐š๐ฅ๐ฅ๐š๐ญ๐ข๐จ๐ง ๐“๐ฒ๐ฉ๐ž
o Shoreside
o Shipside
o Passenger Vessel
o Merchant Vessel
o Offshore Support Vessel
o Specialized Vessel

โ€ข ๐๐ฒ ๐๐จ๐ฐ๐ž๐ซ ๐‘๐š๐ญ๐ข๐ง๐ 
o Up to 30 MVA
o 30-60 MVA
o Above 60 MVA

โ€ข ๐๐ฒ ๐‚๐จ๐ฆ๐ฉ๐จ๐ง๐ž๐ง๐ญ
o Transformers
o Switchgear Devices
o Frequency Converter
o Cables and Accessories
o Others

โ€ข ๐๐ฒ ๐‚๐จ๐ง๐ง๐ž๐œ๐ญ๐ข๐จ๐ง
o New Installation
o Retrofit

๐Œ๐จ๐ซ๐ž ๐“๐ซ๐ž๐ง๐๐ข๐ง๐  ๐‹๐š๐ญ๐ž๐ฌ๐ญ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ๐ฌ ๐›๐ฒ ๐๐จ๐ฅ๐š๐ซ๐ข๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก:

๐‡๐ฒ๐๐ซ๐จ๐ ๐ž๐ง ๐‡๐ฎ๐›๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ : https://www.polarismarketresearch.com/industry-analysis/hydrogen-hubs-market
๐„๐ง๐ž๐ซ๐ ๐ฒ ๐„๐ง๐ ๐ข๐ง๐ž๐ž๐ซ๐ข๐ง๐  ๐’๐ž๐ซ๐ฏ๐ข๐œ๐ž ๐Ž๐ฎ๐ญ๐ฌ๐จ๐ฎ๐ซ๐œ๐ข๐ง๐  (๐„๐’๐Ž) ๐Œ๐š๐ซ๐ค๐ž๐ญ : https://www.polarismarketresearch.com/industry-analysis/energy-engineering-service-outsourcing-eso-market
๐’๐จ๐ฅ๐š๐ซ ๐„๐ง๐œ๐š๐ฉ๐ฌ๐ฎ๐ฅ๐š๐ญ๐ข๐จ๐ง ๐Œ๐š๐ซ๐ค๐ž๐ญ : https://www.polarismarketresearch.com/industry-analysis/solar-encapsulation-market
๐‡๐ž๐š๐ญ ๐Œ๐ž๐ญ๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ : https://www.polarismarketresearch.com/industry-analysis/heat-meter-market

๐‚๐จ๐ง๐ญ๐š๐œ๐ญ ๐”๐ฌ:

Polaris Market Research
30 Wall Street, 8th Floor,
New York City, NY 10005,
United States
Phone:+1-929 297-9727
Email: sales@polarismarketresearch.com

๐€๐›๐จ๐ฎ๐ญ ๐”๐ฌ:

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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