Shore Power Sector: Growth Drivers and Challenges
Growth Drivers
- Rising Government Awareness to Reduce Carbon Emissions from Ports
- Growing Number of Luxury Ships for Shipping Business
Challenges
- High Installation and Maintenance Costs of Shore Power
Shore Power Market: Key Insights
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
10.6% |
|
Base Year Market Size (2024) |
USD 1.82 billion |
|
Forecast Year Market Size (2037) |
USD 6.74 billion |
|
Regional Scope |
|
Browse key industry insights with market data tables & charts from the report:
Frequently Asked Questions (FAQ)
In the year 2025, the industry size of shore power is assessed at USD 1.98 billion.
Shore Power Market size was valued at USD 1.82 billion in 2024 and is expected to reach USD 6.74 billion by 2037, expanding at around 10.6% CAGR during the forecast period i.e., between 2025-2037.
Asia Pacific industry is anticipated to account for largest revenue share by 2037, on the back of growing adoption of shore power systems and presence of some of the world’s busiest and largest ports in the region.
The major players in the market are Schneider Electric, Siemens AG, ABB Ltd, Switzerland, Cavotec SA, Wärtsilä Corporation, and others.
