Shore Power Market Report 2025

This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The shore power market size has grown rapidly in recent years. It will grow from $1.65 billion in 2024 to $1.86 billion in 2025 at a compound annual growth rate (CAGR) of 12.5%. The growth in the historic period can be attributed to environmental regulations, air quality improvement initiatives, ports' sustainability goals, reduced noise and vibrations, cost savings for shipping lines.

The shore power market size is expected to see rapid growth in the next few years. It will grow to $2.83 billion in 2029 at a compound annual growth rate (CAGR) of 11.1%. The growth in the forecast period can be attributed to global expansion of shore power infrastructure, international collaboration on emission reduction, advancements in green port initiatives, growing electrification in maritime transport, incentives, and subsidies. Major trends in the forecast period include focus on electrification of maritime transport, development of onboard shore power systems, integration with grid management systems, retrofitting existing ports with shore power, focus on cost-efficiency and return on investment.

The growing number of passengers traveling on cruise ships is expected to drive the growth of the shore power market in the coming years. A cruise ship is a large passenger vessel designed for leisure voyages, offering various amenities, entertainment, and services while taking passengers to different destinations. Shore power provides a cleaner and healthier environment, reduces noise pollution, and enhances passenger comfort, ensuring a peaceful and enjoyable experience during their cruise. For example, in July 2023, the Department for Transport, a UK government agency, reported that cruise passenger numbers rose to 2 million in 2022, a significant increase from just 181,000 in 2021. As a result, the rising number of cruise ship passengers is driving the expansion of the shore power market.

Key players in the shore power market are emphasizing the development of innovative offerings such as high-voltage shore power systems to maintain their market standing. High-voltage shore power establishes an electrical linkage between a ship and an electric grid, enabling the vessel to power down its engines, thus curbing fuel usage and carbon emissions. For instance, in August 2022, ERMA FIRST ESK Engineering S.A., a Greek firm specializing in marine equipment solutions, unveiled BLUE CONNECT, a high-voltage shore power solution known as alternate marine power (AMP) or cold ironing. This innovation effectively reduces a ship's reliance on diesel generators, resulting in decreased noise levels and emissions of various harmful compounds such as volatile organic compounds, nitrogen oxides, sulfur oxides, and particulate matter. The BLUE CONNECT system encompasses essential components such as the power transformer, shore connection main control panel, and power changeover mechanisms.

In September 2022, Caverion, a Finnish company providing technical solutions, expanded its capabilities by acquiring CS Electric A/S for an undisclosed sum. This strategic acquisition bolsters Caverion's existing design and engineering proficiency, along with its service and installation capacities. The move reinforces their commitment to delivering sustainable, energy-efficient solutions tailored for the marine sector and other related industries. CS Electric A/S, based in Denmark, specializes in technical engineering, electrification, automation, and shore power services, complementing Caverion's portfolio and expertise in the field.

Major companies operating in the shore power market report are Siemens AG, General Electric Corporation, Schneider Electric SE, ABB, Eaton, Vinci Energies S.A., Carnival Corporation & PLC, Danfoss, Royal Caribbean Group, Wärtsilä Oyj Abp, Norwegian Cruise Line Holdings Ltd., Piller Power Systems, IGUS, Power Systems International, Cochran Inc., Cavotec SA, ESL Power Systems Inc., Victron Energy, Mastervolt, SmartPlug Systems, Atlas Marine Systems, Tec Container S.A., Preen (AC Power Corp.), Asea Power Systems, Blueday Technology AS.

Asia-Pacific was the largest region in the shore power market in 2024. 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, 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, 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).

Shore power, also known as cold ironing or alternative maritime power (AMP), refers to an external source of electrical power supplied to a ship, boat, or marine vessel while it is docked or moored at a port or harbor. The use of shore power provides several advantages, including a reduction in emissions and noise pollution, as the vessel's internal generators can be switched off, contributing to improved air quality in port areas.

The primary components of shore power systems include a transformer, switchgear, cables and accessories, frequency converter, and other associated elements. A transformer serves as an electrical device facilitating the transfer of electrical energy between two or more circuits through electromagnetic induction. Shore power systems are designed to accommodate various power outputs, ranging from up to 30 MVA to above 30 MVA, and can be installed in different configurations such as shoreside and shipside. Additionally, these systems can be implemented as new installations or as retrofit solutions on existing vessels.

The shore power market research report is one of a series of new reports that provides shore power market statistics, including shore power industry global market size, regional shares, competitors with a shore power market share, detailed shore power market segments, market trends and opportunities, and any further data you may need to thrive in the shore power industry. This shore power market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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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