Shore Power Market

Market Leaders - Shore Power Market

The global shore power market is projected to grow from USD 1.1 billion in 2020 to USD 1.4 billion by 2025, at a CAGR of 6.7%. The factors driving the growth for shore power include the increasing focus on government authorities to reduce air and noise pollution from porting activities and increasing sea trade and cruise tourism.

The global shore power market is dominated by both global and regional players, such as Siemens (Germany), Schneider Electric (France), Cavotec (Switzerland), Wartsila (Finland), Vinci Energies (France), and ESL Power (US), and among others. Major strategies adopted by them include contracts & agreements, partnerships & collaborations, and mergers & acquisitions. Contracts & agreements were the most commonly adopted strategies from January 2016 to March 2020.

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Schneider Electric designs, engineers, manufactures, and provides electrical equipment for several industries. The company focuses on offering access to energy and digitalization by providing energy and digital automation solutions for efficiency and sustainability. Schneider Electric has a vast product portfolio consisting of products such as relays, switchgear devices, transformers, motor control, marine electrical equipment, related software, and more. It meets the needs of numerous industries, including marine, automotive, healthcare, oil & gas, information, and more. Schneider Electric also offers consulting services for all the industries above. The company operates its business through 2 segments, namely, Energy Management and Industrial Automation.  Shore power systems are offered by the company under its Energy Management business segment.

The company provides shore power systems under its brand name, Shore Box. This product offers an output ranging from 1 MVA to 20 MVA with a flexible frequency of 50/60 Hz. Schneider Electric’s shore power has been certified with IEC/ISO/IEEE 80005 for operational safety. It can be used to supply shore power to different types of ships, such as passenger ships and cruise liners, FPSO, LNG carriers, and chemical carriers.

Another major player in the shore power market is Siemens. Siemens is a major engineering and manufacturing company, focusing on the areas of electrification, automation, and digitalization. The company provides innovative digitalization products and solutions for optimized operations in multiple industries. It caters to the needs of various industries, such as infrastructure, energy, medical, and finance. Siemens operates its business through 7 business divisions, namely, Gas and Power, Smart Infrastructure, Digital Industries, Siemens Healthineers, Mobility, Siemens Gamesa Renewable Energy, and Building Technologies. The company offers shore power systems under its Smart Infrastructure Business segment.

Related Reports:

Shore Power Market by Installation (Shoreside, Shipside), by Connection (New Installation, Retrofit), Component (Transformers, Frequency Converters, and More), Power Output (Up to 30 MVA, 30 to 60 MVA, Above 60 MVA), and Region - Global Forecast to 2025

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Report Code
EP 7257
RI Published ON
6/10/2020
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