Pune, India, August 2022, MRFR Press Release/Market Research Future has published a Cooked Research Report on the Global Shore Power Market.
Global Shore Power Market
Ocean-going vessels (ships) require power while docked in port ("at-berth") to maintain lights, heating and cooling, and other important vessel services. This power is often provided by the vessel's diesel-fuelled auxiliary engines. The procedure of transferring electrical power from the shore to a vessel at berth, also known as cold ironing, allows the auxiliary engines to be shut off. Shore power virtually eliminates diesel emissions and other air pollutants that would otherwise be produced by the vessel's on-board auxiliary engines by plugging in and shutting them off.
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Shore Power Market Synopsis
According to the MRFR analysis, the global shore power market size is projected to reach USD 1,623.10 million by 2030 at a CAGR of 11.90%.
Shore power, also known as cold ironing or alternative marine power, is the process of supplying electricity to a vessel from shore while the vessel is docked, allowing the vessel's auxiliary engines to be shut down and the combustion of diesel fuel to be stopped. Therefore, shore power is an effective way to reduce air emissions and improve local air quality. In addition, shore power technology also reduces fuel costs for ship owners by providing vessel operators with an alternative to running diesel-assisted engines while docked, thereby increasing the competitiveness of Canadian ports.
With the continuous spread of the novel coronavirus across the world, manufacturers are taking extreme measures in the form of plant closures to halt the spread of the COVID-19 outbreak. In the US and Canada, the response of the governments has been a combination of state or provincial, federal, and local measures. Governments apply seemingly ever-more stringent conditions on social interaction, travel, and workplace attendance in other regions. These regions are experiencing similar situations, which have a marked effect on the economy and society and caused massive economic disruption. The energy sector is at the center of this turmoil.
Shore Power Market Competitive Landscape
The global shore power market is characterized by the presence of many global, regional, and local vendors. The regional shore power market is highly competitive. The vendors compete based on cost, product quality, reliability, and aftermarket services. Therefore, vendors must provide cost-effective and efficient products to survive and succeed in a competitive market environment.
The vendors' growth depends on market conditions, government support, and industrial development. Thus, the vendors should focus on expanding their presence and improving their services. Siemens, ABB Ltd., Schneider Electric, and Wartsila are key players operating in the global shore power market.
Shore Power Market Based on power output:
- Up to 30 MVA: The power requirements for the given output are used in small ferries and container ships where the power requirement is less than others. As per international standards (ISO/IEC/IEEC 80005-1), ferry, Roll-on/Roll-off, and Ro/Pax vessels need to be connected to an electrical onshore power supply, at 6.6kV, up to 6.5MVA.
- Above 30 MVA: Demand for shore power solutions increases as the world drives decarbonization and reduces fuel consumption. The above-given power output is required for various cruises where the maximum power consumption can range between 35 MVA to 55 MVA. Shore power systems with power output above 45 MVA are best used for applications where a high number of charging periods per day are required. More advanced applications may also benefit from having a total separation between the primary and secondary systems.
Shore Power Market Based on components:
- Transformers: Shore Powers are made of different transformers, such as insulated and shoreside power transformers. For decades, shoreside power transformers have been utilized on recreational, commercial, and military vessels. Their popularity has recently grown. Transformers provide consumers with safety and convenience benefits over traditional shore power systems that lack this vital component.
- Switchgear devices: Switchgear devices are composed of electrical disconnect switches, fuses, or circuit breakers used to control, protect, and isolate electrical equipment. Switchgear is used to de-energize equipment to allow work to clear faults downstream. The switchgear devices increase the shore power market share due to the growing application of switchgear components for safety measures in the maritime industry.
- Frequency converters: Frequency converters are required to ensure that the shoreside shore power system can provide electrical frequency that matches the vessel's operational frequency. Frequency converters are expected to hold the largest share of the shore power market as shore power frequency converters save money by reducing diesel fuel usage.
- Cables and accessories: Shore cable is specifically designed for power transmission between ships and shore. Several cable types include CEFR/SA (THOF & SHOF) and CEHR/SA. CEFR/SA is an EPR-insulated PCP-sheathed ship-to-shore power cable, whereas CEHR/SA is an EPR-insulated CSP-sheathed cable (EPR CSP Cable).
- Others: Shore power is widely used in many shipping and handling applications in the power energy industry. Many manufacturers offer customized solutions to the end-user for various component requirements. Control panels, power distribution systems, and cable reels are used in the shore power market.
Shore Power Market Based on connection:
- New installation: The new installation segment is expected to be the largest segment of the shore power market during the forecast period. This growth can be attributed to increasingly stringent environmental norms by governments. All incoming ports and ships have installed shore power systems during construction, which reduces implementation costs.
- Retrofit: As more and more terminals are equipped with this power and regulatory development; shipping companies adopt marine power on new ships and retrofit existing ships.
Shore Power Market Based on installation type:
- Shoreside: Shore connections play an important role in reducing the environmental impact of global shipping and are supported by organizations such as the European Union. During the forecast period, shoreside installation is expected to be the most important segment in the shore power market. This advantage can be attributed to the high installation cost as additional electrical components are required on the shore.
- Shipside: The power range for the shipside shore connection is 0–20 MW. Small vessels such as ferries often use low voltage solutions, while larger vessels such as cruise ships and container ships require higher voltages. Installations vary depending on the solution being deployed and vessel type.
Shore Power Market Based on region:
- North America: North America has favorable rules in many states across the country. It is projected that the shore power systems would be widely adopted and implemented in North America. The US and Canada are two of the region's most significant countries. Because of the sea-bound transportation of goods, the North American region sees a lot of vessel traffic. Furthermore, the US and Canada are among the world’s leading oil producers, exporting their products to their countries.
- Europe: The European shore power market is driven by the growing need to reduce diesel fuel consumption and eliminate air pollution. Additionally, stringent government regulations to control greenhouse emissions are further expected to propel the market during the forecast period. The sea carries 74% of the EU's imports and exports, demonstrating a significant reliance on seaports for trade, not just with the rest of the world but also within each country's boundaries.
- Asia-Pacific: With the increased focus of many countries on reducing pollution produced by port activities, Asia-Pacific is projected to see the highest adoption and deployment of shore power systems. Furthermore, these countries are home to several big ports that are among the busiest in the world.
- Middle East & Africa: The Middle East & Africa Shore Power Market are expected to have mixed economic growth. Growth rates vary based on the degree of natural resources available in each country and access to electricity at reasonable prices. The need for power and energy has been increasing in the region, with some countries seeing particularly high demand due to their high levels of economic growth.
- South America: South America's energy industry landscape has shifted considerably in recent years. Due to chronic power shortages, large countries like Brazil and Argentina have reformed their energy markets. The countries quickly pushed for changes, opened up their energy sectors, and expanded renewable energy capacity to lessen their reliance on fossil fuels.