Alternate Marine Power - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Alternate Marine Power Market is accounted for $809.99 million in 2019 and is expected to reach $2,078.29 million by 2027 growing at a CAGR of 12.5% during the forecast period. Rise in globalization and industrialization and growing marine pollution are the major factors driving the market growth. However, high initial investment is restraining the market growth.
Alternate marine power is an anti-pollution measure that helps to lessen air pollution generated from diesel generators. The substitute used is shore electric power. It is widely used at the port when a ship is halting. This decreases emissions from ships by a enormous amount. It is also called as cold ironing. It provides power for lights, air-conditioners, refrigerators, and other tools on ships.
Based on vessel, the container vessels segment is likely to have a huge demand as they are the fast transportation by a secure means of cargo transport at low cost and low energy consumption. It is a versatile, highly flexible means of transport. By geography, North America is going to have a lucrative growth during the forecast period due to increasing movement of goods and passengers through ports and the rising air pollution at ports in United States lead to a surge in the number of ships.
Some of the key players profiled in the Alternate Marine Power Market include Wartsila, Wabtec Corporation, VINCI Energies, Siemens, Schneider Electric, Ratio Electric B.V., PowerCon, Piller Group GmbH, Nidec ASI, MacGregor, ESL Power Systems Inc, Danfoss, Cavotec SA and ABB Ltd.
• Container Vessels
• Other Vessels
Power Requirements Covered:
• Up to 1 MW
• 1 MW to 5 MW
• Above 5 MW
Type of AC Power Supplies Covered:
• 440 V of Supply
• 660 V of Supply
• 6600 V of Supply
• 11000 V of Supply
• Naval Ships
• Cargo Ships
• Passenger Ships
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
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- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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