Shore Power

Global Shore Power Market to Reach US$2.3 Billion by 2030

The global market for Shore Power estimated at US$1.7 Billion in the year 2024, is expected to reach US$2.3 Billion by 2030, growing at a CAGR of 5.4% over the analysis period 2024-2030. Shoreside, one of the segments analyzed in the report, is expected to record a 5.6% CAGR and reach US$1.6 Billion by the end of the analysis period. Growth in the Shipside segment is estimated at 4.8% CAGR over the analysis period.

The U.S. Market is Estimated at US$468.6 Million While China is Forecast to Grow at 5.1% CAGR

The Shore Power market in the U.S. is estimated at US$468.6 Million in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$366.3 Million by the year 2030 trailing a CAGR of 5.1% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 5.0% and 4.0% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.5% CAGR.

Global Shore Power Market - Key Trends and Drivers Summarized

How Is Shore Power Revolutionizing Maritime Operations?

Shore power, also known as cold ironing or alternative maritime power (AMP), is a system that allows ships to connect to onshore electrical sources while docked, enabling them to turn off their auxiliary engines and reduce emissions. By supplying electricity from the grid, shore power significantly lowers air pollution and noise levels at ports, improving environmental conditions and complying with stricter emission regulations. As the shipping industry strives to achieve decarbonization, shore power solutions are being adopted globally by cruise ships, cargo vessels, ferries, and container ships, making it an integral part of sustainable port infrastructure.

What Are the Key Segments in the Shore Power Market?

Key components include transformers, switchgear, frequency converters, cables, and software, with transformers holding the largest market share due to their role in managing voltage levels and ensuring safe power transfer. Installation types are divided into shoreside and shipside installations, with shoreside installations leading the market due to the significant investment required in port infrastructure. End-users encompass ports, naval bases, and ships, with ports representing the largest segment as they are the primary facilitators of shore power integration to reduce emissions and meet regulatory standards.

How Is Shore Power Being Implemented Across Ports and Vessels?

At ports, shore power infrastructure includes high-voltage transformers, frequency converters, and power management systems that facilitate a seamless connection to ships. Major ports in Europe, North America, and Asia-Pacific are actively adopting shore power to comply with emission standards and improve air quality for port workers and surrounding communities. Cruise ships and container vessels are among the earliest adopters, utilizing shore power to significantly cut emissions while berthed. Naval bases also use shore power to support naval vessels during maintenance and downtime, ensuring operational readiness while reducing carbon footprint. Additionally, the integration of shore power into sustainable port development plans supports global decarbonization goals, promoting cleaner and greener maritime operations.

What Factors Are Driving the Growth in the Shore Power Market?

The growth in the Shore Power market is driven by several factors, including the increasing focus on reducing emissions from ships to comply with stringent environmental regulations. The rising investments in sustainable port infrastructure, supported by government initiatives and funding, have accelerated the adoption of shore power systems globally. Advancements in power conversion and distribution technologies have improved the efficiency and reliability of shore power connections, supporting broader deployment. The growing awareness of the health and environmental benefits of reducing emissions at ports has further encouraged adoption among port authorities and ship operators. Additionally, the push for electrification and renewable energy integration within maritime operations has contributed to the expansion of the shore power market.

SCOPE OF STUDY:

The report analyzes the Shore Power market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Installation Type (Shoreside, Shipside); Connection (New Installation, Retrofit); Component (Frequency Converters, Transformers, Switchgear Devices, Cables & Accessories, Other Components)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

Select Competitors (Total 34 Featured) -

• ABB
• Blueday Technology
• Cavotec
• Cochran Marine
• ESL Power
• IGUS
• Piller Power Systems
• Power Systems International
• Preen
• Schneider Electric
• Siemens
• SmartPlug
• Vinci Energies
• Wartsila

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.