U.S. Shore Power MarketU.S. Shore Power Market 2024-2032 Trends: Unveiling Growth Opportunities and Competitor Dynamics
U.S. Shore Power Market by Connection (Shoreside, Shipside {Passenger Vessel, Merchant Vessel, Offshore Support Vessel, Specialized Vessel}), by Installation (New Installation, Retrofit), by Component (Transformer, Switchgear, Cables, Accessories, Static Frequency Converter, Others), by Forecast 2024-2032
Base Year: 2023
150 Pages
U.S. Shore Power Market 2024-2032 Trends: Unveiling Growth Opportunities and Competitor Dynamics
Key Insights
The U.S. Shore Power Market size was valued at USD 233.09 USD Million in 2023 and is projected to reach USD 495.34 USD Million by 2032, exhibiting a CAGR of 11.37 % during the forecast period. Shore power or alternative maritime power or cold ironing refers to the process of providing electricity to a ship under mooring with main and auxiliary propulsion engines being switched off. This implies that vessels can maintain certain functions like lighting, heating, and refrigeration among others actively without having to burn fuel and as a result lead to the emission of various gaseous and particulate matter pollutants to the environment. On of the most standard uses of shore power is in ports to reduce noise and emissions. They include the high voltage and the low voltage depending on the requirements of the vessel. Among the benefits are environmental: the air becomes cleaner, the volume of emissions of greenhouse gases and the noise around the port decreases. Recent trends suggest increased demand in the major ports in the U. S, such as Los Angeles, Long Beach due to environmental concern or due to port development in Seattle, etc.
U.S. Shore Power Trends
- Growing demand for emission reduction in the maritime industry
- Increasing adoption of shore power technology by seaports
- Government initiatives and regulations to promote shore power adoption
Driving Forces: What's Propelling the U.S. Shore Power Market
- Environmental regulations to reduce air pollution from ships
- Cost savings associated with shore power compared to diesel generators
- Government incentives and funding for shore power projects
Challenges and Restraints in U.S. Shore Power Market
- High upfront investment cost of shore power infrastructure
- Lack of standardization in shore power connection systems
- Technical challenges in integrating shore power with existing ship systems
Emerging Trends in U.S. Shore Power
- Development of wireless shore power systems
- Integration of renewable energy sources into shore power systems
- Automation and remote monitoring of shore power systems
Growth Catalysts in U.S. Shore Power Industry
- Increasing global trade and shipping activity
- Expansion of the cruise industry
- Growing awareness of the environmental benefits of shore power
Market Segmentation: U.S. Shore Power Analysis
By Connection:
- Shoreside
- Shipside
By Vessel Type:
- Passenger Vessel
- Merchant Vessel
- Offshore Support Vessel
- Specialized Vessel
By Installation:
- New Installation
- Retrofit
By Component:
- Transformer
- Switchgear
- Cables and Accessories
- Static Frequency Converter
- Others
Leading Players in the U.S. Shore Power Market
- ESL Power Systems, Inc. (U.S.)
- Schneider Electric (U.S.)
- Cochran Marine LLC (U.S.)
- Siemens (U.S.)
- Wartsila (U.S.)
- Cavotec (U.S.)
- Igus, Inc. (U.S.)
- Hitachi Energy Ltd. (U.S.)
- Nidec Industrial Solutions (U.S.)
- ABB (U.S.)
Significant developments in U.S. Shore Power Sector
- July 2021: ABB introduced a new digital solution for improving the energy efficiency of its Azipod electric propulsion, which would help to generate shore power at shore-side.
- February 2021: Wartsila launched a hybrid multi-purpose SOV, which is compliant with the U.S.-flagged Jones Act.
- December 2020: Blueday Technology signed an agreement with the Port of Oslo to supply the BluEco Shore Power system.
Comprehensive Coverage U.S. Shore Power Market Report
- Key market drivers, trends, and challenges
- Detailed market segmentation
- Competitive landscape with profiles of leading market players
- Case studies and industry best practices
- Forecast analysis for key market segments
- Region-wise analysis of the U.S. shore power market
Regional Insight
The U.S. shore power market is expected to witness significant growth in the coming years, with the highest growth expected in the Gulf Coast region.
PESTLE Analysis
Political: Government regulations and incentives for shore power adoption
Economic: Cost of shore power infrastructure and fuel prices
Social: Environmental awareness and demand for emission reduction
Technological: Advancements in shore power technology
Legal: Regulations governing shore power connection and safety
Porter's Five Force Analysis
Threat of new entrants: High due to low barriers to entry
Bargaining power of suppliers: Medium due to the presence of several suppliers
Bargaining power of buyers: Low due to the large number of potential customers
Threat of substitutes: Low due to the lack of viable alternatives
Rivalry among existing competitors: Medium due to the presence of several established players
BCG Matrix
Stars: ESL Power Systems, Schneider Electric
Cash Cows: Cochran Marine LLC, Siemens
Question Marks: Wartsila, Cavotec
Dogs: Igus, Inc., Hitachi Energy Ltd.
Import & Export Analysis
The U.S. imports a significant portion of its shore power equipment from countries such as China, India, and South Korea.
Production & Consumption
The U.S. is a major producer and consumer of shore power equipment.
Regulatory Landscape
The U.S. has various regulations governing shore power installation and operation. These regulations are enforced by the U.S. Coast Guard and other agencies.
U.S. Shore Power Market REPORT HIGHLIGHTS
| Aspects | Details |
|---|---|
| Study Period | 2018-2032 |
| Base Year | 2023 |
| Estimated Year | 2024 |
| Forecast Period | 2024-2032 |
| Historical Period | 2018-2023 |
| Growth Rate | CAGR of 11.37% from 2018-2032 |
| Segmentation |
|
Frequently Asked Questions
Table Of Content
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 2.1. Introduction
- 3. Market Dynamics
- 3.1. Introduction
- 3.2. Market Drivers
- 3.2.1. Rise in Offshore Mining to Drive Market Growth
- 3.3. Market Restrains
- 3.3.1. High Implementation Cost of Infrastructure May Restrain Market Growth
- 3.4. Market Trends
- 3.4.1. Increasing Adoption of Smart Shore Power Solutions in the U.S. to Drive Market Growth
- 4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
- 5. U.S. Shore Power Market Analysis, Insights and Forecast, 2018-2030
- 5.1. Market Analysis, Insights and Forecast - by Connection
- 5.1.1. Shoreside
- 5.1.2. Shipside {Passenger Vessel
- 5.1.3. Merchant Vessel
- 5.1.4. Offshore Support Vessel
- 5.1.5. Specialized Vessel}
- 5.2. Market Analysis, Insights and Forecast - by Installation
- 5.2.1. New Installation
- 5.2.2. Retrofit
- 5.3. Market Analysis, Insights and Forecast - by Component
- 5.3.1. Transformer
- 5.3.2. Switchgear
- 5.3.3. Cables
- 5.3.4. Accessories
- 5.3.5. Static Frequency Converter
- 5.3.6. Others
- 5.4. Market Analysis, Insights and Forecast - by Region
- 5.4.1.
- 5.1. Market Analysis, Insights and Forecast - by Connection
- 6. North America U.S. Shore Power Market Analysis, Insights and Forecast, 2018-2030
- 6.1. Market Analysis, Insights and Forecast - By Connection
- 6.1.1 Shoreside and Shipside {Passenger Vessel
- 6.1.2 Merchant Vessel
- 6.1.3 Offshore Support Vessel
- 6.1.4 Specialized Vessel}
- 6.2. Market Analysis, Insights and Forecast - By Installation
- 6.2.1 New Installation
- 6.2.2 Retrofit
- 6.3. Market Analysis, Insights and Forecast - By Component
- 6.3.1 Transformer
- 6.3.2 Switchgear
- 6.3.3 Cables and Accessories
- 6.3.4 Static Frequency Converter
- 6.3.5 Others
- 6.4. Market Analysis, Insights and Forecast - By Country/Sub-region
- 6.4.1 United States
- 6.4.2 Canada
- 6.4.3 Mexico
- 6.4.4 Rest of North America
- 7. Middle East & Africa U.S. Shore Power Market Analysis, Insights and Forecast, 2018-2030
- 7.1. Market Analysis, Insights and Forecast - By Connection
- 7.1.1 Shoreside and Shipside {Passenger Vessel
- 7.1.2 Merchant Vessel
- 7.1.3 Offshore Support Vessel
- 7.1.4 Specialized Vessel}
- 7.2. Market Analysis, Insights and Forecast - By Installation
- 7.2.1 New Installation
- 7.2.2 Retrofit
- 7.3. Market Analysis, Insights and Forecast - By Component
- 7.3.1 Transformer
- 7.3.2 Switchgear
- 7.3.3 Cables and Accessories
- 7.3.4 Static Frequency Converter
- 7.3.5 Others
- 7.4. Market Analysis, Insights and Forecast - By Country/Sub-region
- 7.4.1 UAE
- 7.4.2 South Africa
- 7.4.3 Saudi Arabia
- 7.4.4 Rest of MEA
- 8. Asia Pacific U.S. Shore Power Market Analysis, Insights and Forecast, 2018-2030
- 8.1. Market Analysis, Insights and Forecast - By Connection
- 8.1.1 Shoreside and Shipside {Passenger Vessel
- 8.1.2 Merchant Vessel
- 8.1.3 Offshore Support Vessel
- 8.1.4 Specialized Vessel}
- 8.2. Market Analysis, Insights and Forecast - By Installation
- 8.2.1 New Installation
- 8.2.2 Retrofit
- 8.3. Market Analysis, Insights and Forecast - By Component
- 8.3.1 Transformer
- 8.3.2 Switchgear
- 8.3.3 Cables and Accessories
- 8.3.4 Static Frequency Converter
- 8.3.5 Others
- 8.4. Market Analysis, Insights and Forecast - By Country/Sub-region
- 8.4.1 China
- 8.4.2 Japan
- 8.4.3 India
- 8.4.4 South Korea
- 8.4.5 Taiwan
- 8.4.6 Australia
- 8.4.7 Rest of Asia-Pacific
- 9. Europe U.S. Shore Power Market Analysis, Insights and Forecast, 2018-2030
- 9.1. Market Analysis, Insights and Forecast - By Connection
- 9.1.1 Shoreside and Shipside {Passenger Vessel
- 9.1.2 Merchant Vessel
- 9.1.3 Offshore Support Vessel
- 9.1.4 Specialized Vessel}
- 9.2. Market Analysis, Insights and Forecast - By Installation
- 9.2.1 New Installation
- 9.2.2 Retrofit
- 9.3. Market Analysis, Insights and Forecast - By Component
- 9.3.1 Transformer
- 9.3.2 Switchgear
- 9.3.3 Cables and Accessories
- 9.3.4 Static Frequency Converter
- 9.3.5 Others
- 9.4. Market Analysis, Insights and Forecast - By Country/Sub-region
- 9.4.1 Germany
- 9.4.2 France
- 9.4.3 Italy
- 9.4.4 United Kingdom
- 9.4.5 Netherlands
- 9.4.6 Rest of Europe
- 10. South America U.S. Shore Power Market Analysis, Insights and Forecast, 2018-2030
- 10.1. Market Analysis, Insights and Forecast - By Connection
- 10.1.1 Shoreside and Shipside {Passenger Vessel
- 10.1.2 Merchant Vessel
- 10.1.3 Offshore Support Vessel
- 10.1.4 Specialized Vessel}
- 10.2. Market Analysis, Insights and Forecast - By Installation
- 10.2.1 New Installation
- 10.2.2 Retrofit
- 10.3. Market Analysis, Insights and Forecast - By Component
- 10.3.1 Transformer
- 10.3.2 Switchgear
- 10.3.3 Cables and Accessories
- 10.3.4 Static Frequency Converter
- 10.3.5 Others
- 10.4. Market Analysis, Insights and Forecast - By Country/Sub-region
- 10.4.1 Brazil
- 10.4.2 Argentina
- 10.4.3 Rest of South America
- 11. Competitive Analysis
- 11.1. Market Share Analysis 2023
- 11.2. Company Profiles
- 11.2.1 ESL Power Systems Inc. (U.S.)
- 11.2.1.1. Overview
- 11.2.1.2. Products
- 11.2.1.3. SWOT Analysis
- 11.2.1.4. Recent Developments
- 11.2.1.5. Financials (Based on Availability)
- 11.2.2 Schneider Electric (U.S.)
- 11.2.2.1. Overview
- 11.2.2.2. Products
- 11.2.2.3. SWOT Analysis
- 11.2.2.4. Recent Developments
- 11.2.2.5. Financials (Based on Availability)
- 11.2.3 Cochran Marine LLC (U.S.)
- 11.2.3.1. Overview
- 11.2.3.2. Products
- 11.2.3.3. SWOT Analysis
- 11.2.3.4. Recent Developments
- 11.2.3.5. Financials (Based on Availability)
- 11.2.4 Siemens (U.S.)
- 11.2.4.1. Overview
- 11.2.4.2. Products
- 11.2.4.3. SWOT Analysis
- 11.2.4.4. Recent Developments
- 11.2.4.5. Financials (Based on Availability)
- 11.2.5 Wartsila (U.S.)
- 11.2.5.1. Overview
- 11.2.5.2. Products
- 11.2.5.3. SWOT Analysis
- 11.2.5.4. Recent Developments
- 11.2.5.5. Financials (Based on Availability)
- 11.2.6 Cavotec (U.S.)
- 11.2.6.1. Overview
- 11.2.6.2. Products
- 11.2.6.3. SWOT Analysis
- 11.2.6.4. Recent Developments
- 11.2.6.5. Financials (Based on Availability)
- 11.2.7 Igus Inc. (U.S.)
- 11.2.7.1. Overview
- 11.2.7.2. Products
- 11.2.7.3. SWOT Analysis
- 11.2.7.4. Recent Developments
- 11.2.7.5. Financials (Based on Availability)
- 11.2.8 Hitachi Energy Ltd. (U.S.)
- 11.2.8.1. Overview
- 11.2.8.2. Products
- 11.2.8.3. SWOT Analysis
- 11.2.8.4. Recent Developments
- 11.2.8.5. Financials (Based on Availability)
- 11.2.9 Nidec Industrial Solutions (U.S.)
- 11.2.9.1. Overview
- 11.2.9.2. Products
- 11.2.9.3. SWOT Analysis
- 11.2.9.4. Recent Developments
- 11.2.9.5. Financials (Based on Availability)
- 11.2.10 ABB (U.S.)
- 11.2.10.1. Overview
- 11.2.10.2. Products
- 11.2.10.3. SWOT Analysis
- 11.2.10.4. Recent Developments
- 11.2.10.5. Financials (Based on Availability)
- 11.2.1 ESL Power Systems Inc. (U.S.)
List of Figures
- Figure 1: U.S. Shore Power Market Revenue Breakdown (USD Million, %) by Product 2023 & 2031
- Figure 2: U.S. Shore Power Market Value Share (%), by Connection 2023 & 2031
- Figure 3: U.S. Shore Power Market Value Share (%), by Installation 2023 & 2031
- Figure 4: U.S. Shore Power Market Value Share (%), by Component 2023 & 2031
- Figure 5: U.S. Shore Power Market Share (%) by Company 2023
List of Tables
- Table 1: U.S. Shore Power Market Revenue USD Million Forecast, by Connection 2018 & 2031
- Table 2: U.S. Shore Power Market Revenue USD Million Forecast, by Installation 2018 & 2031
- Table 3: U.S. Shore Power Market Revenue USD Million Forecast, by Component 2018 & 2031
- Table 4: U.S. Shore Power Market Revenue USD Million Forecast, by Region 2018 & 2031
- Table 5: U.S. Shore Power Market Revenue USD Million Forecast, by Connection 2018 & 2031
- Table 6: U.S. Shore Power Market Revenue USD Million Forecast, by Installation 2018 & 2031
- Table 7: U.S. Shore Power Market Revenue USD Million Forecast, by Component 2018 & 2031
- Table 8: U.S. Shore Power Market Revenue USD Million Forecast, by Region 2018 & 2031
- Table 9: U.S. Shore Power Market Revenue USD Million Forecast, by Connection 2018 & 2031
- Table 10: U.S. Shore Power Market Revenue USD Million Forecast, by Installation 2018 & 2031
- Table 11: U.S. Shore Power Market Revenue USD Million Forecast, by Component 2018 & 2031
- Table 12: U.S. Shore Power Market Revenue USD Million Forecast, by Country 2018 & 2031
- Table 13: United States U.S. Shore Power Market Revenue (USD Million) Forecast, by Application 2018 & 2031
- Table 14: Canada U.S. Shore Power Market Revenue (USD Million) Forecast, by Application 2018 & 2031
- Table 15: Mexico U.S. Shore Power Market Revenue (USD Million) Forecast, by Application 2018 & 2031
- Table 16: Rest of North America U.S. Shore Power Market Revenue (USD Million) Forecast, by Application 2018 & 2031
- Table 17: U.S. Shore Power Market Revenue USD Million Forecast, by Connection 2018 & 2031
- Table 18: U.S. Shore Power Market Revenue USD Million Forecast, by Installation 2018 & 2031
- Table 19: U.S. Shore Power Market Revenue USD Million Forecast, by Component 2018 & 2031
- Table 20: U.S. Shore Power Market Revenue USD Million Forecast, by Country 2018 & 2031
- Table 21: UAE U.S. Shore Power Market Revenue (USD Million) Forecast, by Application 2018 & 2031
- Table 22: South Africa U.S. Shore Power Market Revenue (USD Million) Forecast, by Application 2018 & 2031
- Table 23: Saudi Arabia U.S. Shore Power Market Revenue (USD Million) Forecast, by Application 2018 & 2031
- Table 24: Rest of MEA U.S. Shore Power Market Revenue (USD Million) Forecast, by Application 2018 & 2031
- Table 25: U.S. Shore Power Market Revenue USD Million Forecast, by Connection 2018 & 2031
- Table 26: U.S. Shore Power Market Revenue USD Million Forecast, by Installation 2018 & 2031
- Table 27: U.S. Shore Power Market Revenue USD Million Forecast, by Component 2018 & 2031
- Table 28: U.S. Shore Power Market Revenue USD Million Forecast, by Country 2018 & 2031
- Table 29: China U.S. Shore Power Market Revenue (USD Million) Forecast, by Application 2018 & 2031
- Table 30: Japan U.S. Shore Power Market Revenue (USD Million) Forecast, by Application 2018 & 2031
- Table 31: India U.S. Shore Power Market Revenue (USD Million) Forecast, by Application 2018 & 2031
- Table 32: South Korea U.S. Shore Power Market Revenue (USD Million) Forecast, by Application 2018 & 2031
- Table 33: Taiwan U.S. Shore Power Market Revenue (USD Million) Forecast, by Application 2018 & 2031
- Table 34: Australia U.S. Shore Power Market Revenue (USD Million) Forecast, by Application 2018 & 2031
- Table 35: Rest of Asia-Pacific U.S. Shore Power Market Revenue (USD Million) Forecast, by Application 2018 & 2031
- Table 36: U.S. Shore Power Market Revenue USD Million Forecast, by Connection 2018 & 2031
- Table 37: U.S. Shore Power Market Revenue USD Million Forecast, by Installation 2018 & 2031
- Table 38: U.S. Shore Power Market Revenue USD Million Forecast, by Component 2018 & 2031
- Table 39: U.S. Shore Power Market Revenue USD Million Forecast, by Country 2018 & 2031
- Table 40: Germany U.S. Shore Power Market Revenue (USD Million) Forecast, by Application 2018 & 2031
- Table 41: France U.S. Shore Power Market Revenue (USD Million) Forecast, by Application 2018 & 2031
- Table 42: Italy U.S. Shore Power Market Revenue (USD Million) Forecast, by Application 2018 & 2031
- Table 43: United Kingdom U.S. Shore Power Market Revenue (USD Million) Forecast, by Application 2018 & 2031
- Table 44: Netherlands U.S. Shore Power Market Revenue (USD Million) Forecast, by Application 2018 & 2031
- Table 45: Rest of Europe U.S. Shore Power Market Revenue (USD Million) Forecast, by Application 2018 & 2031
- Table 46: U.S. Shore Power Market Revenue USD Million Forecast, by Connection 2018 & 2031
- Table 47: U.S. Shore Power Market Revenue USD Million Forecast, by Installation 2018 & 2031
- Table 48: U.S. Shore Power Market Revenue USD Million Forecast, by Component 2018 & 2031
- Table 49: U.S. Shore Power Market Revenue USD Million Forecast, by Country 2018 & 2031
- Table 50: Brazil U.S. Shore Power Market Revenue (USD Million) Forecast, by Application 2018 & 2031
- Table 51: Argentina U.S. Shore Power Market Revenue (USD Million) Forecast, by Application 2018 & 2031
- Table 52: Rest of South America U.S. Shore Power Market Revenue (USD Million) Forecast, by Application 2018 & 2031
- Table 53: U.S. Shore Power Market Revenue USD Million Forecast, by Connection 2018 & 2031
- Table 54: U.S. Shore Power Market Revenue USD Million Forecast, by Installation 2018 & 2031
- Table 55: U.S. Shore Power Market Revenue USD Million Forecast, by Component 2018 & 2031
- Table 56: U.S. Shore Power Market Revenue USD Million Forecast, by Country 2018 & 2031
| Aspects | Details |
|---|---|
| Study Period | 2018-2032 |
| Base Year | 2023 |
| Estimated Year | 2024 |
| Forecast Period | 2024-2032 |
| Historical Period | 2018-2023 |
| Growth Rate | CAGR of 11.37% from 2018-2032 |
| Segmentation |
|
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STEP 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)
Top-down and bottom-up approaches are used to validate the global market size and estimate the market size for manufactures, regional segemnts, product and application.
Note* : In applicable scenarios
STEP 3 - Data Sources
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Secondary Research
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Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
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