This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
How big is the global shore power market?
The global shore power market is expected to grow significantly from an estimated USD 2.03 billion in 2024 to USD 3.58 billion by 2029, at a CAGR of 12% during the forecast period. There are multiple factors that propel the growth of the global shore power market.
What are the top companies in the global shore power market?
Features in-depth analysis of market share, growth plans, and service offerings of the top companies in the global shore power market, including ABB (Switzerland), Schneider Electric (France), General Electric Company (US), Cavotec SA (Switzerland), VINCI Energies (France), Eaton (Ireland), Siemens (Germany), and Wartsila (Finland) among others.
Another significant factor is the increased emphasis on decarbonization and clean energy technologies especially given that this system helps in sourcing shore power making it possible to easily reduce greenhouse gas emissions and attain global sustainability targets.
Why do ports need shore power facilities?
Ports and shipping companies are more concerned about sustainability and reduction of carbon emissions; hence calls for new projects incorporating shore power facilities on new ports and new vessels are on the rise.