Shore Power Market

Shore Power Market by Installation (Shoreside, Shipside (Vessel Type)), Connection (New Installation, Retrofit), Component (Transformer, Switchgear, Frequency Converter, Cables & Accessories), and Region - Global Forecast to 2024

[128 Pages Report] The global shore power market is projected to reach USD 2.7 billion by 2024 from an estimated USD 1.4 billion in 2019, at a CAGR of 13.3% during the forecast period. This growth can be attributed to factors such as the reduction of low-frequency noise and emissions at ports, increasing number of cruise liners in the shipping industry, and installation of retrofit shore power systems.

Shore Power Market

The new installation segment is expected to be the largest contributor to the shore power market, by connection, during the forecast period.

The report segments the market, by connection, into the new installation, and retrofit. The new installation segment is expected to hold the largest market share by 2024. For shore power to be implemented, ships need to be equipped to receive power from an outside source or local grid. Existing ships usually need to be retrofitted with specific electrical equipment such as wiring, connectors, transformers, and switchgear, while many new ships are being built with this equipment as part of their ship’s electrical system design. Retrofitting of shore power in existing vessels are way expensive when compared to a new installation, sometimes costing up to twice as much as incremental new-build investments. Therefore, the new installation segment is driving the market during the forecast period.

The frequency converter segment is expected to be the largest contributor to the shore power market, by component, during the forecast period.

The frequency converter segment is expected to hold the largest market share and is the fastest-growing segment during the forecast period. Shore power frequency converter allows a ship to be powered by the port’s electrical grid, even though the vessel may have a different operating voltage. Shore power frequency converters save money by reducing the consumption of diesel fuel. It also reduces air pollution caused by running the engine unnecessarily while at the port. Another benefit of using shore power frequency converters is noise reduction, whereas idling and diesel generators are much noisier.

Shore Power Market

Asia Pacific is expected to account for the largest market size during the forecast period.

In this report, the shore power market has been analyzed with respect to five regions, namely, North America, South America, Europe, Asia Pacific, and the Middle East & Africa. Asia Pacific is estimated to be the largest market from 2019 to 2024. China dominated the Asian Pacific shore power market in 2018. As per the Ministry of Transport, in 2018, the container throughput capacity of China's major ports reached about 250 million standard containers, or Twenty-Foot Equivalent Units (TEUs), an increase of 5.3% from the previous year. Besides this, seven out of the world's ten largest ports, in terms of annual cargo and container throughput, were located in China. With the top ports, such as the ports of Shanghai and Qingdao, getting more traffic, the installation of the shore power system in China's ports is gaining rapid momentum to reduce emission and noise pollution in such heavy traffic ports.

Key Market Players

The major players in the global shore power market are Siemens (Germany), Wärtsilä (Finland), ABB (Switzerland), Schneider Electric (France), and Cavotec (Switzerland).

Siemens is a German conglomerate with core business activities in the field of electrification, automation, and digitalization. The company operates its business through eight business divisions, namely, power and gas, healthineers, energy management, digital factory, mobility, Siemens Gamesa renewable energy, process industries and drives, and building technologies. The company offers shore power systems under its energy management segment, which accounts for 14.5% of the company’s total revenue. The company is witnessing a 6.7% growth Y-o-Y with an increase in its spending on research & development by at least 3.5% Y-o-Y since 2016. This has helped the company adopt new technology and enhance the quality of its products and services. The company’s current market strategy is more inclined toward inorganic growth to improve its revenue and capture new markets.

ABB is a technology leader in electrification products, power grids, industrial automation, and robotics for industries such as utilities, transport, and infrastructure. The company operates through three business segments, namely, electrification products, robotics and motion, and industrial automation. It offers shore power solution through its industrial automation segment, which accounted for 29.1% of the revenue in 2018. The company is witnessing a 2.5% growth in revenue Y-o-Y owing to its strengthened product portfolio. Its research & development expenditure is growing by 1.2% Y-o-Y, with recent spending of USD 1.1 billion in 2018. This reflects that the company is focusing on investing in technology leadership and innovation to capitalize on the emerging opportunities in the market to maintain its position as a market leader. ABB’s current strategy is to focus mainly on the inorganic strategy to enhance its market share.

Scope of the Report

Report Metric

Details

Market size available for years

2017–2024

Base year considered

2018

Forecast period

2019–2024

Forecast units

Value (USD)

Segments covered

By installation, by connection, by component, and region

Geographies covered

North America, South America, Europe, Asia Pacific, and Middle East & Africa

Companies covered

ABB (Switzerland), Siemens (Germany), Schneider (France), Wärtsilä (Finland), Cavotec (Switzerland), ESL Power (US), Igus (Germany), SmartPlug (US), Blueday Technology (Norway), Cochran Marine (US), VINCI (France), Preen (China), GE (US), Danfoss (Denmark)

This research report categorizes the market based on installation, connection, component, and region.

Based on the Installation, the shore power market has been segmented as follows:

  • Shoreside
  • Shipside
    • Merchant Vessel
    • Specialized Vessel
    • Passenger Ships
    • Offshore Support Vessel

Based on Connection, the shore power market has been segmented as follows:

  • New installation
    • Shoreside
    • Shipside
  • Retrofit
    • Shoreside
    • Shipside

Based on the Component, the shore power market has been segmented as follows:

  • Transformer
  • Switchgear
  • Frequency Converter
  • Cable & accessories
  • Others (Auxiliary Power System, and Voltage Stabilizers)

Based on the Region, the shore power market has been segmented as follows:

  • North America
  • South America
  • Europe
  • Asia Pacific
  • Middle East & Africa

Recent Developments

  • In May 2019, ABB was awarded a contract by the NorSea Group. The scope of the contract includes shore-to-power technology, which would support four of its bases along Norway’s coast.
  • In January 2019, Schneider was awarded a contract by Vancouver Fraser Port Authority to develop a solution for the ship-to-shore system to reduce greenhouse gas, noise, and air emissions from ships.
  • In May 2018, Siemens was awarded a contract by Niedersachsen State’s Ports Authority to install Siemens’ Siharbor shore power supply system at the offshore for vessel berth. The scope of the deal included the transformer station, ShoreConnect cable feed system, installation of Sivacon S8 LV main distribution system, and an 8DJH MV switchgear.
  • In May 2018, Cavotec established a manufacturing center in Italy to develop and manufacture shore power solutions.
  • In December 2018, Wärtsilä was awarded a contract by Hagland Shipping. The scope of the contract included a hybrid retrofit installation, installation of battery hybrid propulsion solution, and shore power connection.

Key Questions Addressed by the Report

  • What are the key markets for various stakeholders such as analytics companies, and shore power system providers, in the shore power market?
  • How does the report help the system providers in understanding the market dynamics of the market?
  • How does the report help in understanding the strategies adopted by the key players in the market?
  • What is the key information that the report addresses the key players and their market share in the market?
  • What insights does the report provide about emerging geographies and what are the various competitive advantages the major key players can gain in the market?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Definition
    1.3 Market Scope
           1.3.1 Market Segmentation
           1.3.2 Regional Scope
           1.3.3 Years Considered For the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Scope
    2.2 Market Size Estimation
           2.2.1 Demand-Side Analysis
                    2.2.1.1 Calculation
                    2.2.1.2 Assumptions
           2.2.2 Supply-Side Analysis
                    2.2.2.1 Assumptions
                    2.2.2.2 Calculation
           2.2.3 Forecast
    2.3 Some of the Insights of Industry Experts

3 Executive Summary (Page No. - 23)

4 Premium Insights (Page No. - 28)
    4.1 Attractive Opportunities in the Shore Power Market
    4.2 Shore Power, By Installation
    4.3 Shore Power, By Connection
    4.4 Asia Pacific Shore Power, By Component & Country
    4.5 Shore Power, By Region

5 Market Overview (Page No. - 32)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Implementation of Shore Power Reduces Low-Frequency Noise and Emissions at Ports
                    5.2.1.2 Increasing Number of Cruise Liners in the Shipping Industry
                    5.2.1.3 Installation of Retrofit Shore Power Systems
           5.2.2 Restraints
                    5.2.2.1 High Installation and Maintenance Costs
           5.2.3 Opportunities
                    5.2.3.1 Government Initiatives to Reduce Greenhouse Gas Emissions From Ports
                    5.2.3.2 Increasing Lng Hybrid Power Barge Solution
           5.2.4 Challenges
                    5.2.4.1 Complexity in the Integration of Different Systems
                    5.2.4.2 The High Initial Investment For Shore Power Component Manufacturers

6 Shore Power Market, By Installation (Page No. - 38)
    6.1 Introduction
    6.2 Shoreside
           6.2.1 Ship Emissions During A Port’s Laytime Can Be Sustainably Reduced By Shoreside Electricity Which is Expected to Drive the Segment During the Forecast Period
    6.3 Shipside
           6.3.1 Heavy Environmental Impact of Maritime Shipping is Expected to Drive the Shipside Segment During the Forecast Period
                    6.3.1.1 Passenger Vessel
                    6.3.1.2 Merchant Vessel
                    6.3.1.3 Offshore Support Vessel
                    6.3.1.4 Specialized Vessel

7 Shore Power Market, By Connection (Page No. - 43)
    7.1 Introduction
    7.2 New Installation
           7.2.1 Low Cost of New Installation Compared With Retrofit is Expected to Drive the Segment During the Forecast Period
    7.3 Retrofit
           7.3.1 Increasing Number of Large-Scale Ships is Expected to Drive the Retrofit Segment During the Forecast Period

8 Shore Power Market, By Component (Page No. - 48)
    8.1 Introduction
    8.2 Transformer
           8.2.1 Growing Need For Transformers For the Proper Distribution of Electricity to Vessels is Expected to Drive the Transformer Segment During the Forecast Period
    8.3 Switchgear
           8.3.1 Switchgear Helps in Switching, Controlling, and Protecting Other Shore Power Components
    8.4 Frequency Converter
           8.4.1 Frequency Converters are Used to Supply Power to Different Vessels and their Increasing Demand is Expected to Drive the Market During the Forecast Period
    8.5 Cables & Accessories
           8.5.1 Ships Participating in A Shore Power Electrification Program Would Require Installation of Shore Power Cable Receptacles and an Associated Electrical Management System
    8.6 Others
           8.6.1 Any Marine Plug, Connector, Receptacle, Or Inlet Needs to Be Able to Keep Its Users Safe

9 Shore Power Market, By Region (Page No. - 54)
    9.1 Introduction
    9.2 Asia Pacific
           9.2.1 By Installation
           9.2.2 By Connection
           9.2.3 By Component
           9.2.4 By Country
                    9.2.4.1 China
                               9.2.4.1.1 Strong Economic Growth and Supportive Government Policies For the Shipbuilding Industry is Expected to Drive the Chinese Shore Power
                    9.2.4.2 Japan
                               9.2.4.2.1 Japan Has A History of Shipbuilding and is the Largest Shipbuilding Country in the World
                    9.2.4.3 South Korea
                               9.2.4.3.1 South Korea Aims to Build 200 New Containers and Dry Cargo Ships By 2020 Which Would Contribute to the Overall Marine Trade
                    9.2.4.4 India
                               9.2.4.4.1 Economic Growth, Favorable Government Policies and Incentive Framework, A Long Coastline, and an Increase in Marine Freight Traffic Offer Lucrative Opportunities For the Growth of the Maritime Industry in India
                    9.2.4.5 Singapore
                               9.2.4.5.1 Singapore Maritime Industry Plays A Vital Role in the Country’s Economy and Acts as A Boost For International Trade
                    9.2.4.6 Oceania
                               9.2.4.6.1 Australia is One of the Major Economically Developed Countries in Oceania For the Market
                    9.2.4.7 Rest of Asia Pacific
                               9.2.4.7.1 The Philippines is One Among the Major Countries Contributing to the Maritime Industry in the Rest of Asia Pacific Region
    9.3 Europe
           9.3.1 By Installation
           9.3.2 By Connection
           9.3.3 By Component
           9.3.4 By Country
                    9.3.4.1 Sweden
                               9.3.4.1.1 Sweden is A Leading Country to Implement Decarbonization Into the Maritime Industry
                    9.3.4.2 Germany
                               9.3.4.2.1 Germany’s Maritime Industry is Characterized By Its High-Tech Shipbuilding and Modern Technology, thereby Leading to an Incease in the Shore Power Market
                    9.3.4.3 UK
                               9.3.4.3.1 The UK Stands as the Fourth Largest Shipbuilder and the Third Largest Boatbuilder Across Europe
                    9.3.4.4 Russia
                               9.3.4.4.1 Russia’s Large and Strategic Sea Transportation Presence Would Help the Country to Enhance Its Maritime Business and Marine Transportation at A Global Level
                    9.3.4.5 The Netherlands Shipping, Inland Shipping, Shipbuilding, Dredging, Navy, Ports, Fishing, Maritime Services, Marine Equipment Supply, And Yacht Building/Watersport Industry
                               9.3.4.5.1 The Maritime Cluster of the Netherlands Consists of Shipping, Inland Shipping, Shipbuilding, Dredging, Navy, Ports, Fishing, Maritime Services, Marine Equipment Supply, and Yacht Building/Watersport Industry
                    9.3.4.6 Rest of Europe
                               9.3.4.6.1 Norway is the 19th Largest Shipbuilding Economy in the World
    9.4 North America
           9.4.1 By Installation
           9.4.2 By Connection
           9.4.3 By Component
           9.4.4 By Country
                    9.4.4.1 US
                               9.4.4.1.1 Growth in the US Shipbuilding Industry Would Prove to Be Among the Most Important Factors Which Would Drive the Demand For Shore Power in the Country
                    9.4.4.2 Canada
                               9.4.4.2.1 The Ship Building Industry in Canada Plays A Vital Role in the Economic Development of the Country
    9.5 Middle East & Africa
           9.5.1 By Installation
           9.5.2 By Connection
           9.5.3 By Component
           9.5.4 By Country
                    9.5.4.1 UAE
                               9.5.4.1.1 The Increase in Maritime Activities in the UAE is One of the Most Significant Factors Contributing to the Growth of the Market in This Country
                    9.5.4.2 Saudi Arabia
                               9.5.4.2.1 Growing Investments in Shore Power Would Experience A Boom in the Coming Years in the Country
                    9.5.4.3 Egypt
                               9.5.4.3.1 Egypt’s Damietta Port Plays A Crucial Role in Increasing the Shore Power Market in the Country
                    9.5.4.4 South Africa
                               9.5.4.4.1 South Africa is the Most Advanced Economy in the Middle East & Africa
                    9.5.4.5 Rest of the Middle East & Africa
                               9.5.4.5.1 China is Expected to Invest in African Ports and Help in the Development of African Ports
    9.6 South America
           9.6.1 By Installation
           9.6.2 By Connection
           9.6.3 By Component
           9.6.4 By Country
                    9.6.4.1 Brazil
                               9.6.4.1.1 Brazil is the Leading Economy in South America and One of the Largest Contributors to the World Trade
                    9.6.4.2 Argentina
                               9.6.4.2.1 Argentina Government is Investing in the Merchant and Shipbuilding Industry and is Adopting Shore Power Systems at A Rapid Rate
                    9.6.4.3 Rest of South America
                               9.6.4.3.1 Investments in Panama and Chile Would Increase the Demand For Shore Power During the Forecast Period

10 Competitive Landscape (Page No. - 91)
     10.1 Overview
     10.2 Competitive Leadership Mapping (Overall Market)
             10.2.1 Visionary Leaders
             10.2.2 Innovators
             10.2.3 Dynamic
             10.2.4 Emerging
     10.3 Market Share, 2018
     10.4 Competitive Scenario
             10.4.1 Contracts & Agreements
             10.4.2 New Product Launches
             10.4.3 Mergers & Acquisitions
             10.4.4 Expansions & Investments
             10.4.5 Partnerships & Collaborations

11 Company Profiles (Page No. - 97)
(Business Overview, Products Offered, Recent Developments, MnM View)* 
     11.1 ABB
     11.2 Siemens
     11.3 Schneider Electric
     11.4 Wärtsilä
     11.5 Cavotec
     11.6 ESL Power Systems
     11.7 IGUS
     11.8 Smartplug
     11.9 Blueday Technology
     11.10 Cochran Marine
     11.11 Vinci Energies
     11.12 Preen
     11.13 GE
     11.14 Danfoss
*Business Overview, Products Offered, Recent Developments, MnM View Might Not Be Captured in Case of Unlisted Companies. 

12 Appendix (Page No. - 121)
     12.1 Insights of Industry Experts
     12.2 Discussion Guide
     12.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.4 Available Customizations
     12.5 Related Reports
     12.6 Author Details


List of Tables (63 Tables)
                    
Table 1 Shore Power Market Snapshot
Table 2 US: Operating Auxiliary Engine vs. Shore Power, 2017
Table 3 Market: Major Investments Made in Various Ports and their Environmental Impact
Table 4 Shore Power Market Size, By Installation, 2017–2024 (USD Million)
Table 5 Shoreside: Market Size, By Region, 2017–2024 (USD Million)
Table 6 Shipside: Market Size, By Region, 2017–2024 (USD Million)
Table 7 Shipside: Market Size, By Vessels, 2017–2024 (USD Million)
Table 8 Shore Power Market Size, By Connection, 2017–2024 (USD Million)
Table 9 New Installation: Market Size, By Region, 2017–2024 (USD Million)
Table 10 New Installation: Market Size, By Type, 2017–2024 (USD Million)
Table 11 Retrofit: Market Size, By Region, 2017–2024 (USD Million)
Table 12 Retrofit: Market Size, By Type, 2017–2024 (USD Million)
Table 13 Shore Power Market Size, By Component, 2017–2024 (USD Million)
Table 14 Transformer: Market Size, By Region, 2017–2024 (USD Million)
Table 15 Switchgear: Market Size, By Region, 2017–2024 (USD Million)
Table 16 Frequency Converter: Market Size, By Region, 2017–2024 (USD Million)
Table 17 Cables & Accessories: Market Size, By Region, 2017–2024 (USD Million)
Table 18 Others: Market Size, By Region, 2017–2024 (USD Million)
Table 19 Shore Power Market Size, By Region, 2017–2024 (USD Million)
Table 20 Market Size, By Top Countries, 2017–2024 (USD Million)
Table 21 Asia Pacific: Shore Power Market Size, By Installation, 2017–2024 (USD Million)
Table 22 Asia Pacific: Market Size, By Connection, 2017–2024 (USD Million)
Table 23 Asia Pacific: Market Size, By Component, 2017–2024 (USD Million)
Table 24 Asia Pacific: Market Size, By Country, 2017–2024 (USD Million)
Table 25 China: Market Size, By Component, 2017–2024 (USD Million)
Table 26 Japan: Shore Power Market Size, By Component, 2017–2024 (USD Million)
Table 27 South Korea: Market Size, By Component, 2017–2024 (USD Million)
Table 28 India: Market Size, By Component, 2017–2024 (USD Million)
Table 29 Singapore: Market Size, By Component, 2017–2024 (USD Million)
Table 30 Oceania: Market Size, By Component, 2017–2024 (USD Million)
Table 31 Rest of Asia Pacific: Market Size, By Component, 2017–2024 (USD Million)
Table 32 Europe: Shore Power Market Size, By Installation, 2017–2024 (USD Million)
Table 33 Europe: Market Size, By Connection, 2017–2024 (USD Million)
Table 34 Europe: Market Size, By Component 2017–2024 (USD Million)
Table 35 Europe: Market Size, By Country, 2017–2024 (USD Million)
Table 36 Sweden: Market Size, By Component, 2017–2024 (USD Million)
Table 37 Germany: Shore Power Market Size, By Component, 2017–2024 (USD Million)
Table 38 UK: Market Size, By Component, 2017–2024 (USD Million)
Table 39 Russia: Market Size, By Component, 2017–2024 (USD Million)
Table 40 The Netherlands: Market Size, By Component, 2017–2024 (USD Million)
Table 41 Rest of Europe: Market Size, By Component, 2017–2024 (USD Million)
Table 42 North America: Shore Power Market Size, By Installation, 2017–2024 (USD Million)
Table 43 North America: Market Size, By Connection, 2017–2024 (USD Million)
Table 44 North America: Market Size, By Component, 2017–2024 (USD Million)
Table 45 North America: Market Size, By Country, 2017–2024 (USD Million)
Table 46 US: Shore Power Market Size, By Component, 2017–2024 (USD Million)
Table 47 Canada: Market Size, By Component, 2017–2024 (USD Million)
Table 48 Middle East & Africa: Shore Power Market Size, By Installation, 2017–2024 (USD Million)
Table 49 Middle East & Africa: Market Size, By Connection, 2017–2024 (USD Million)
Table 50 Middle East & Africa: Market Size, By Component, 2017–2024 (USD Million)
Table 51 Middle East & Africa: Market Size, By Country, 2017–2024 (USD Million)
Table 52 UAE: Market Size, By Component, 2017–2024 (USD Million)
Table 53 Saudi Arabia: Shore Power Market Size, By Component, 2017–2024 (USD Million)
Table 54 Egypt: Market Size, By Component, 2017–2024 (USD Million)
Table 55 South Africa: Market Size, By Component, 2017–2024 (USD Million)
Table 56 Rest of Middle East & Africa: Market Size, By Component, 2017–2024 (USD Million)
Table 57 South America: Shore Power Market Size, By Installation, 2017–2024 (USD Million)
Table 58 South America: Market Size, By Connection, 2017–2024 (USD Million)
Table 59 South America: Market Size, By Component, 2017–2024 (USD Million)
Table 60 South America: Market Size, By Country, 2017–2024 (USD Million)
Table 61 Brazil: Shore Power Market Size, By Component, 2017–2024 (USD Million)
Table 62 Argentina: Market Size, By Component, 2017–2024 (USD Million)
Table 63 Rest of South America: Market Size, By Component, 2017–2024 (USD Million)


List of Figures (31 Figures)

Figure 1 Main Metrics Considered While Constructing and Assessing the Demand For the Shore Power
Figure 2 Throughput Capacity of Key Ports and Installation of Shore Power Systems are the Determining Factors For the Global Shore Power Market
Figure 3 Shoreside Segment is Expected to Hold the Largest Share of the Market, By Installation, During the Forecast Period
Figure 4 New Installation Segment is Expected to Lead the Market, By Connection, During the Forecast Period
Figure 5 Frequency Converter Segment is Expected to Lead the Market, By Component, During the Forecast Period
Figure 6 Asia Pacific Dominated the Market (Value) in 2018
Figure 7 Reduction of Low-Frequency Noise and Emissions at Ports is Expected to Drive the Shore Power Market, 2019–2024
Figure 8 Shoreside Segment is Projected to Dominate the Shore Power Market, By Installation, Until 2024
Figure 9 New Installation Segment is Projected to Dominate the Market, By Connection, Until 2024
Figure 10 Frequency Converter Segment and China Dominated the Asia Pacific Market in 2018
Figure 11 Asia Pacific Shore Power is Expected to Grow at the Highest Cagr During the Forecast Period
Figure 12 Shore Power Market: Market Dynamics
Figure 13 Global Cruise Liner Passenger Capacity, 2015–2018
Figure 14 Market (Value), By Installation, 2018
Figure 15 Market (Value), By Connection, 2018
Figure 16 Market (Value), By Component, 2018
Figure 17 Regional Snapshot: Asia Pacific Market is Expected to Grow at the Highest Cagr During the Forecast Period
Figure 18 Market Share (Value), By Region, 2018
Figure 19 Asia Pacific: Regional Snapshot
Figure 20 Europe: Regional Snapshot
Figure 21 Key Developments in the Shore Power Market, 2016–2019
Figure 22 Market (Global) Competitive Leadership Mapping, 2018
Figure 23 ABB Led the Shore Power in 2018
Figure 24 ABB: Company Snapshot
Figure 25 Siemens: Company Snapshot
Figure 26 Schneider Electric: Company Snapshot
Figure 27 Wärtsilä: Company Snapshot
Figure 28 Cavotec: Company Snapshot
Figure 29 Vinci Energies: Company Snapshot
Figure 30 GE: Company Snapshot
Figure 31 Danfoss: Company Snapshot

This study involved four major activities in estimating the current market size of the shore power market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and market sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were used to estimate the total market size. After that, the market breakdown and data triangulation were done to estimate the market size of the segments and subsegments.

Secondary Research

This research study involved the use of extensive secondary sources, directories, and databases such as Hoover’s, Bloomberg BusinessWeek, Factiva, and OneSource, to identify and collect information useful for a technical, market-oriented, and commercial study of the global shore power market. The other secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases. 

Primary Research

The shore power comprises several stakeholders such as coal and oil & gas trading, consulting companies and associations in the sector, cruise and passenger transport companies, environmental research institutes, government organizations, international and shipping sea trading organizations, investors/shareholders, organizations, forums, alliances, and associations, port operators, research & consulting companies in the marine sector, ship manufacturers, shipbuilding and shipyard industry, shore power equipment manufacturers, state and national regulatory authorities, vessel designers, owners, and operators. The demand-side of this market is determined by the installation of shore power in both shoreside as well as shipside and investments done in the shore power system sector globally. The supply-side is characterized by analyzing the top market leaders’ investments in the shore power market. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. The breakdown of primary respondents is as follows:

Shore Power Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches have been used to estimate and validate the size of the global shore power market and its dependent submarkets. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry and market have been identified through extensive secondary research, and their market share in the respective regions have been determined through both primary and secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand- and supply sides in the industrial sectors.

Report Objectives

  • To define, describe, segment, and forecast the shore power market based on installation, connection, component, and region
  • To provide detailed information on the major factors influencing the growth of market (drivers, restraints, opportunities, and industry-specific challenges)
  • To strategically analyze the market with respect to individual growth trends, prospects, and contributions of each segment to the market
  • To analyze market opportunities for stakeholders and provide a detailed competitive landscape for market leaders
  • To forecast the revenue of the market segments with respect to five main regions (along with countries), namely, North America, South America, Europe, Asia Pacific, and the Middle East & Africa
  • To strategically profile key players and comprehensively analyze their market ranking and core competencies
  • To track and analyze competitive developments such as new product launches, contracts & agreements, expansions, and mergers & acquisitions in the market

Available Customizations:

With the given market data, MarketsandMarkets offers customizations as per the client’s specific needs. The following customization options are available for this report:

Regional Analysis

  • Further breakdown of the region or country-specific analysis

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)
Report Code
EP 7257
Published ON
Jul, 2019
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