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Shore Power - Global Market Outlook (2018-2027)

Shore Power - Global Market Outlook (2018-2027)

4.5 (77 reviews)
Published: September 2019 ID: SMRC18626
4.5 (77 reviews)
Published: September 2019 ID: SMRC18626

This report covers the impact of COVID-19 on this global market

According to Stratistics MRC, the Global Shore Power Market is accounted for $1.24 billion in 2018 and is expected to reach $4.45 billion by 2027 growing at a CAGR of 15.3% during the forecast period. The rising number of cruise liners in the shipping industry, setting up of retrofit shore power systems, and execution of shore power reduces low-frequency noise and emissions at ports are the major factors driving the market growth. However, high costs for installation and maintenance may hinder the growth of the market.

Shore power is the provision of shoreside electrical power to a ship at berth while its main and auxiliary engines are shut down. Shore power saves consumption of fuel that would otherwise be used to power vessels while in port and eliminates the air pollution associated with consumption of that fuel.

Based on connection, new installation segment is going to have a lucrative growth during the forecast period owing to the 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. By geography, Asia Pacific provides potential growth opportunities as the ports in this region are focusing more on sustainability due to the increase in the maritime industry, stringent emission regulations, and mounting concerns over local air pollution.

Some of the key players in Shore Power market include ABB, Blueday Technology, Cavotec, Cochran Marine, Danfoss, ESL Power Systems, GE, IGUS, Preen, Schneider Electric, Siemens, Smartplug, Vinci Energies, and Wärtsilä.  
                  
Connections Covered:
• New Installation
• Retrofit

Installations Covered:
• Shoreside
• Shipside

Components Covered:
• Cables & Accessories 
• Frequency Converter 
• Switchgear 
• Transformer 
• Other Components 

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o UK 
o Spain
o Rest of Europe      
• Asia Pacific
o Japan       
o China       
o India       
o Australia       
o New Zealand      
o Rest of Asia Pacific
• South America          
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

 What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Covers Market data for the years 2017, 2018, 2019, 2023 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the clients interest (Note: Depends of feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

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