Shore Power Market 2021 Opportunities, Driving Forces, COVID-19 Impact Analysis, Future Potential 2030
Research Nester published a report titled “Shore Power Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global shore power market in terms of market segmentation by installation, component, power output, and by region.
Further,
for the in-depth analysis, the report encompasses the industry growth
indicators, restraints, supply and demand risk, along with detailed discussion
on current and future market trends that are associated with the growth of the
market.
The
global shore
power market is expected to garner a large revenue by
growing at a notable CAGR throughout the forecast period, i.e., 2021 – 2030,
owing to the rising requirement to reduce carbon emissions from ports, increasing
number of luxury ships and growing establishment of retrofit shore power
systems. Furthermore, surging sea trade activities and cruise-based tourism is
also estimated to fuel the expansion of market in the coming years.
The
market is segmented by installation, component and power output. On the basis
of component, the frequency converter segment is anticipated to grow at a
considerable rate during the forecast period in view of the ability of this
component to reduce maintenance cost, increase lifetime and improve motor
efficiency. Additionally, based on installation, the shoreside segment is
expected to grow at the fastest rate ascribing to the wide deployment of
shoreside power stations since the recent years.
Regionally,
the global shore power market is segmented into five major regions including
North America, Europe, Asia Pacific, Latin America and the Middle East &
Africa. Asia Pacific is expected to see the highest growth in the market during
the forecast period, which can be attributed to the escalating adoption of
shore power systems and presence of several large and busy ports in the region.
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Growing
Consciousness to Reduce Port Emissions to Drive Market Growth
Port
activities are responsible for the generation of harmful air contaminants such
as carbon monoxide, nitrogen oxides and sulfur oxides. These pollutants have
caused detrimental effects on the heath of workers and people living nearby sea
ports. As a result, governments are becoming more conscious towards reducing
emissions from ships, which in turn is evaluated to boost market growth in the
near future.
However,
high cost of installing and maintaining shore power is expected to operate as
key restraint to the growth of the shore power market over the forecast period.
This
report also provides the existing competitive scenario of some of the key
players of the global shore power market which includes company profiling of
Schneider Electric, Siemens AG, ABB Ltd, Switzerland, Cavotec SA, Wärtsilä
Corporation, ESL Power Systems, Inc., VINCI Energies S.A., NorSea Group, igus
GmbH, Cochran Marine LLC., and others. The profiling enfolds key information of
the companies which encompasses business overview, products and services, key
financials and recent news and developments. On the whole, the report depicts
detailed overview of the shore power market that will help industry
consultants, equipment manufacturers, existing players searching for expansion
opportunities, new players searching possibilities and other stakeholders to
align their market centric strategies according to the ongoing and expected
trends in the future.
Get Access for Sample Copy Of This Strategic Report: https://www.researchnester.com/sample-request-3093
About Research Nester
Research Nester is a leading service provider for
strategic market research and consulting. We aim to provide unbiased,
unparalleled market insights and industry analysis to help industries,
conglomerates and executives to take wise decisions for their future marketing
strategy, expansion and investment etc. We believe every business can expand to
its new horizon, provided a right guidance at a right time is available through
strategic minds. Our out of box thinking helps our clients to take wise
decision in order to avoid future uncertainties.
Contact for more
Info:
AJ Daniel
Email: info@researchnester.com
U.S. Phone: +1 646 586 9123
U.K. Phone: +44 203
608 5919
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