According to a new report by UnivDatos Market Insights, the Shore Power Market is expected to reach USD 4.91 Billion in 2032 by growing at a CAGR of 12.6%. Shore power is an emissions control measure used in ports that connects ships to the local land-side power grid, rather than utilizing the ship’s engines at berth. Shore power has been implemented at around 35 cruise berths at 14 ports globally. The number of ports worldwide implementing shore power is rising due to the increasing global response to climate change. In addition, environmental and local community impacts, specifically reducing air emissions within the local region and minimizing noise from cruise ships, further drive the adoption of shore power at ports.

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Furthermore, a significant portion of ports around the world have signed shore power declarations to ‘deploy shore-side electricity by 2028 where possible’, including all large North Sea ports, Los Angeles, Montreal, and all large Japanese ports. Cruise and container vessels are the primary targets for most ports’ regulations and the EU will start taxing vessels via EU ETS from next year onwards. Government ministers and port authorities from around the world signed a shore power declaration at the One Ocean Summit on February 10th, 2022. Joined by the European Investment Bank, the stakeholders agreed to make their best efforts to deploy shore-side electricity supply by 2028, for cruise and container vessels.

The Europe shore power market has seen significant growth and development, driven by a strong push towards sustainability and reducing emissions in the maritime industry. Several European governments have taken initiatives to promote the adoption of shore power in their ports. For example, Norway has been a pioneer in this area, with the government introducing regulations mandating the use of shore power in certain ports to reduce greenhouse gas emissions. In Sweden, the government has provided funding and incentives for ports to invest in shore power infrastructure, in line with their commitment to becoming a carbon-neutral country.

In addition, the European Union has also been actively supporting the development of shore power infrastructure across the continent. Through initiatives such as the European Green Deal and the Clean Ports initiative, the EU aims to reduce the environmental impact of the maritime industry and promote sustainable practices.

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Conclusion:

In conclusion, the global shore power market is poised for robust growth, by enabling vessels to plug into onshore electrical grids while docked rather than relying on their diesel-powered generators, shore power significantly reduces emissions of harmful pollutants such as carbon dioxide, sulfur oxides, and nitrogen oxides. This transition to shore power not only improves air quality in port cities but also helps to mitigate the environmental impact of shipping on a global scale.