Shore Power Market Report 2026

The shore power market size has grown rapidly in recent years. It will grow from $1.85 billion in 2025 to $2.05 billion in 2026 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to rising environmental pollution concerns, increasing maritime fuel consumption, early regulatory awareness for emission control, expanding seaport traffic activities, growing awareness of marine sustainability.

The shore power market size is expected to see rapid growth in the next few years. It will grow to $3.18 billion in 2030 at a compound annual growth rate (CAGR) of 11.6%. The growth in the forecast period can be attributed to stricter emission control regulations, rising investment in green port initiatives, increasing support for sustainable maritime technologies, growing demand for efficient vessel power solutions, expanding global port modernization programs. Major trends in the forecast period include rising emphasis on reducing port emissions, growing adoption of environment friendly marine power solutions, increasing installation of high capacity shore power systems, expansion of shore power infrastructure in major ports, strengthening focus on cleaner and sustainable maritime operations.

The increasing number of passengers traveling on cruise ships is expected to propel the growth of the shore power market going forward. A cruise ship is a large passenger ship designed for leisure voyages where passengers can enjoy various amenities, entertainment, and services while traveling to different destinations. Shore power provides a cleaner and healthier environment, reduces noise pollution, and enhances passenger comfort by enabling a peaceful and enjoyable experience while docked. For instance, in July 2025, according to the Department for Transport, a UK-based government agency, the number of international sea passengers rose to 18.4 million in 2024, marking a 3% increase from 2023. Therefore, the increasing number of passengers traveling on cruise ships is driving the growth of the shore power market.

Major companies operating in the shore power market are focusing on developing innovative solutions, such as modular and mobile shore power systems, to meet the rising demand for port decarbonisation, regulatory compliance, and operational flexibility at container terminals. Modular and mobile shore power systems are flexible, scalable electrical infrastructure solutions composed of movable and add-on units that can be easily installed, relocated, or expanded along a quay to supply electricity to berthed vessels. These systems help ports reduce ship emissions, optimize space usage, lower installation costs, and adapt to changing vessel sizes and terminal layouts without disrupting operations. For example, in June 2025, Cavotec Group AB, a Sweden-based manufacturing company, launched PowerAlign, a modular shore power system specifically designed for container terminals. PowerAlign features a low-profile socket box occupying less than 3.5 m², an enclosed cable reel for extended cable life, and coverage of up to 140 meters per unit, expandable through additional modules. The system supports high current capacity, ensures safe connections compliant with IEC 80005-1 standards, and enables ports to meet environmental regulations without affecting vessel turnaround times.

In March 2025, Mission Critical Electronics, a US-based manufacturing and technology company, acquired Magnus Marine for an undisclosed amount. Through this acquisition, Mission Critical Electronics aimed to strengthen its leadership and expand its product portfolio in marine power solutions, particularly in high-power shore power conversion and hybrid systems for the superyacht market, while broadening its global presence and sustainable technology capabilities. Magnus Marine is a UK-based manufacturing and technology company specializing in shore power solutions.

Major companies operating in the shore power market report are Siemens AG, General Electric Corporation, Schneider Electric SE, ABB, Wärtsilä Oyj Abp, Danfoss A/S, Eaton Corporation, Cavotec SA, Asea Power Systems AB, Vinci Energies S.A., Royal Caribbean Group, Carnival Corporation plc, Norwegian Cruise Line Holdings Ltd, Siemens Energy AG, Hitachi Ltd, Mitsubishi Electric Corporation, Toshiba Corporation, Hyundai Electric Co Ltd, LS Electric Co Ltd, Alstom SA, Kongsberg Gruppen ASA, Rolls-Royce Holdings plc.

Asia-Pacific was the largest region in the shore power market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the shore power market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the shore power market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The shore power market consists of sales of remote monitoring systems, emergency backup systems, and shore power cabinets. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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