Shore Power Market to Grow $1.4 Billion by 2025, at a CAGR of 6.7%

Shore Power Market to Grow $1.4 Billion by 2025, at a CAGR of 6.7%
The global shore power market is projected to reach USD 1.4 billion by 2025 from USD 1.1 billion in 2020, at a CAGR of 6.7%.

The global Shore Power Market is projected to reach USD 1.4 billion by 2025 from USD 1.1 billion in 2020, at a CAGR of 6.7%. The factors driving the growth for shore power include growing focus governments across the world on reducing air and noise pollution caused due to port activities and increasing sea trade and cruise-based tourism.

Shoreside installation segment is expected to be largest segment of Shore Power Market

The market has been segmented, by installation, into shoreside and shipside installations. The shoreside segment is expected to be the most Shore Power Market, by installation, during the forecast period. This growth can be attributed to the high cost of installation owing to extra electrical components on the shoresied. Additional components enable the shoreside shore power system to operate with more flexiblity and meet the power requirements of different type of vessels.

Download PDF Brochure:

Frequency converters are expected to hold largest share of Shore Power Market

The market has been segmented, by component, into transformers, switchgear devices, frequency converters, cables and accessories, and others, including safety grounding equipment and plugs. Frequency converters enable the shoreside shore power system to supply frequency matching the vessel’s operating frequency.

North America is expected to lead global Shore Power Market.

In this report, the Shore Power Market has been analyzed for 5 regions, namely, North America, South America, Europe, Asia Pacific, and Middle East & Africa. North America is the largest Shore Power Market, followed by Europe and Asia Pacific. North America is likely to witness a high adoption of shore power systems owing favorable regulations in multiple states throughout the countries.

Asia Pacific is expected to be fastest-growing Shore Power Market

Asia Pacific is the fastest-growing shore power market, followed by North America and Europe. I Asia Pacific is likely to witness the maximum adoption and implementation of shore power systems owing to the growing focus of multiple countries on the reduction of pollution caused from port activities. Also, these countries have the presence of several large-sized ports that are among the busiest ports across the world. Major countries in this region include China, Japan, Australia, South Korea, India, Singapore, and Rest of Asia Pacific. Rest of Asia Pacific consists of  the Philippines, Malaysia, Taiwan, and Thailand. With the presence of countries including China,Japan, and South Korea, having major manufacturing industries, the Asia Pacific region experiences a lot of vessel movement throughout the year.

Request Sample Pages:

Major players in the global Shore Power Market include Siemens (Germany), Schneider Electric (France), Cavotec (Switzerland), Wartsila (Finland), Vinci Energies (France), and ESL Power (US).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Content Source:

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States