Shore Power Market Size Worth USD 6,022.09 Million by 2034 | CAGR: 11.4%

The global shore power market size is expected to reach USD 6,022.09 million by 2034, according to a new study by Polaris Market Research. The report “Shore Power Market Size, Share, Trends, Industry Analysis Report: By Installation Type, Power Rating, Component, Connection (New Installation and Retrofit), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The shore power market refers to the infrastructure and systems that allow ships to connect to onshore electrical power sources while docked, enabling them to turn off auxiliary engines and reduce emissions.

Digitalization and the adoption of smart port initiatives are some of the major shore power market trends. Ports are increasingly leveraging advanced technologies such as the Internet of Things (IoT), artificial intelligence (AI) driven analytics, and real-time monitoring systems to optimize energy management and enhance operational efficiency. These technologies enable seamless integration of shore power systems with other port infrastructure, facilitating automated connections and reducing downtime for vessels. Additionally, smart port solutions provide predictive maintenance capabilities, minimizing system failures and improving reliability. This trend aligns with global efforts to modernize ports, making them more efficient and sustainable while meeting growing environmental and operational demands.

Do you have any questions? Would you like to request a sample or make an inquiry before purchasing this report? Simply click the link below: https://www.polarismarketresearch.com/industry-analysis/shore-power-market/request-for-sample

The retrofitting of existing port and vessel infrastructure has emerged as another major trend in the shore power market. Many ports and shipping operators are upgrading their facilities to integrate shore power systems to comply with stringent environmental regulations and reduce greenhouse gas emissions. Retrofitting allows older ports and vessels to adopt cleaner energy solutions without requiring complete overhauls, making it a cost-effective option. Government subsidies and incentives for retrofitting projects are further driving this trend, especially in regions with established maritime networks. As a result, retrofitting has become a critical component of the market’s push toward sustainability and modernization.

Top of FormKey Highlights of Shore Power Market Report

• In terms of installation type, the shoreside segment led the shore power market in 2024, driven by the extensive deployment of shore power infrastructure across prominent ports worldwide.
• Based on connection, the retrofit segment is projected to experience the fastest growth from 2025 to 2034, owing to the rising need for upgrading existing ships and port facilities to meet stringent environmental standards.
• Asia Pacific led the global market in 2024, supported by its significant maritime trade volume, rapidly growing port infrastructure, and strict environmental regulations in countries like China, Japan, and South Korea.
• North America is anticipated to witness the fastest growth during the forecast period, fueled by strong environmental policies and considerable investments in port infrastructure modernization.
• A few global key market players include ABB; AEG Power Solutions; BluEco; Cavotec SA; Danfoss; Eaton; Emerson Electric Co.; Engie; GE Grid Solutions; and Konecranes.

Polaris Market Research has segmented the shore power market report on the basis of installation type, power rating, component, connection, and region:

By Installation Type Outlook (Revenue – USD Million, 2020–2034)

• Shoreside
• Shipside
• Passenger Vessel
• Merchant Vessel
• Offshore Support Vessel
• Specialized Vessel

By Power Rating Outlook (Revenue – USD Million, 2020–2034)

• Up to 30 MVA
• 30-60 MVA
• Above 60 MVA

By Component Outlook (Revenue – USD Million, 2020–2034)

• Transformers
• Switchgear Devices
• Frequency Converter
• Cables and Accessories
• Others

By Connection Outlook (Revenue – USD Million, 2020–2034)

• New Installation
• Retrofit

By Regional Outlook (Revenue – USD Million, 2020–2034)

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Vietnam
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Argentina
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa
  • Rest of Middle East & Africa

Shore Power Market Report Scope