Shore Power Market by Installation, by Connection, Component, Power Output, and Region
DUBLIN, June 29, 2020 /PRNewswire/ -- The "Shore Power Market by Installation (Shoreside, Shipside), by Connection (New Installation, Retrofit), Component (Transformers, Frequency Converters, and More), Power Output (Up to 30 MVA, 30 to 60 MVA, Above 60 MVA), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The shore power market size is projected to reach USD 1.4 billion by 2025 from USD 1.1 billion in 2020, at a CAGR of 6.7%.
Rising adoption of new technologies for limiting carbon emissions in the developed regions is the key driver for this market during the forecast period.
Shoreside installation is expected to be largest market during forecast period
The market has been segmented, by installation, into shoreside and shipside installations. The shoreside segment is expected to be the most shore power market, by installation, during the forecast period. This growth can be attributed to the high cost of components that need to be installed in shoreside shore power systems. Also, some additional components are required on the shoreside to make the shoreside shore power system more flexible and meet the power requirements of different types of vessels.
New installation segment is expected to be largest in the shore power market, by connection, during forecast period
The shore power market, by connection, has been segmented into new installations and retrofit. The new installation segment is expected to be the largest in the shore po....