Alternative marine power is an anti-pollution measure that assists in the decrease in air pollution generated by diesel generators. It uses electrical power at the dock as a substitute. It is used in the harbor when a ship stops. This considerably reduces emissions from ships. It is also known as cold pressing. It powers lights, air conditioners, refrigerators and other equipment onboard ships. Alternative marine energy is the provision of electrical power on land to a ship that goes out to sea at the dock, while its auxiliary and main engines are turned off during loading and unloading of cargo. The use of alternative marine energy minimizes greenhouse gas (GHG) emissions by providing clean electricity for emergency equipment while the ship is docked.
In recent years, there has been a hike in investment to modernize ports. This includes infrastructure improvements related to energy, ICT/digital infrastructure, intermodal/multimodal terminals, transport connectivity, environmental footprint reduction infrastructure and other basic infrastructure. Europe is supposed to account or more than 3,000 ports, including seaports and inland ports, by the end of 2025. The governments of European countries plan to install alternative marine energy systems in all ports in the region. Furthermore, the Chinese government projects that 90% of ships will visit the country's main ports using land-based power by 2020. Thus, renovating ports offers a lucrative opportunity for the global alternative marine energy market.
Star International, a global supplier to the marine and offshore industries, has launched a line of on-board fuel testing and treatment products that provide a turnkey fuel management solution for the marine industry. The range has been developed to meet the requirements of maritime operators who want to ensure compliance with the 0.5% sulphur limit of the International Maritime Organization (IMO) and minimize the risks of contamination related to an increase in base fuels, fatty acid methyl ester (FAME) in navy blue. Supply chain.
ExxonMobil recently announced the launch of a new line of ultra-low sulphur marine fuels with 0.50% sulphur, EMF.5 ™. The new range of fuels will be all residual and will comply with the ISO 8217: 2017 specification.
Greenhouse gas (GHG) emissions in and around port areas are becoming a major concern around the world. The boats run on bunker fuel, which is one of the most polluting fuels. Large numbers of ships and trucks visit the ports every day. This becomes the cause of a significant increase in the prevalence of respiratory diseases and cancer, and also leads to a degradation of water quality. Alternative marine energy systems provide electricity instead of diesel, reducing greenhouse gas (GHG) emissions. Furthermore, a significant increase in globalization and industrialization has created a strong demand for maritime trade, due to the low cost of transport. This is expected to boost the global alternative marine energy market during the outlook period.
Restraints:
The initial investment costs required to build alternative land-side marine power systems, the operating costs of these systems, and the costs required to modify vessels for the alternative marine power systems are high. This is likely to make impact on the global alternative marine power market during the forecast period. The cost of converting a vessel is between US $ 2 million and US $ 6 million. The cost of transporting electricity from a local grid to a port terminal varies between US $ 300,000 and US $ 4 million per vessel, depending on the type of vessel, voltage, frequency, electricity demand and location of the port. The initial cost includes the installation of high voltage power transformers, distribution and control panels, electrical distribution systems, etc. The ROI associated with alternate marine power systems are low, and the payback period is over few years
REPORT COVERAGE:
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2019 – 2025 |
|
Base Year |
2019 |
|
Forecast Period |
2020 - 2025 |
|
CAGR |
12.5% |
|
Segments Covered |
By Product, Type, Consumption, Distribution Channel and Region |
|
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
|
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
|
Market Leaders Profiled |
alternate marine power market are ABB Ltd., Cavotec SA, Schneider Electric, Nidec ASI, MacGregor, PowerCon, Siemens, ESL Power Systems, Inc., VINCI Energies, Danfoss, Ratio Electric B.V., Piller Group GmbH, Wartsila, and Wabtec Corporation. |
By Vessel
By Power Requirement
Geographically, the global alternative marine power market is divided into North America, Asia-Pacific, Europe, and Rest of the world. North America is expected to have a dominant share in the global market. The increasing flow of goods and passengers through US ports has resulted in an increase in the number of ships. And growing air pollution at ports is driving demand for the alternative marine power market in North America. Europe is forecasted to grow in the global market with a healthy CAGR during the forecast period. The growing emphasis on the development of alternative fuels as a substitute for fossil oil sources used in the energy supply of transport on European territory contributes to the growth of the alternative marine energy market in Europe. The Asia-Pacific region offers fruitful opportunities in the global alternative marine power market. Growing business activities in India and China and growing economies in Asia-Pacific countries are contributing to the growth of an alternative marine power market in the Asia-Pacific region. During the predicted period, the Middle Eastern countries promise high market potential.
Key Players:
Noticeable players operating in the global alternate marine power market are ABB Ltd., Cavotec SA, Schneider Electric, Nidec ASI, MacGregor, PowerCon, Siemens, ESL Power Systems, Inc., VINCI Energies, Danfoss, Ratio Electric B.V., Piller Group GmbH, Wartsila, and Wabtec Corporation.
Prior to COVID-19, the global alternative marine power technology market was expected to grow from $ 809.99 million in 2020 to $ 2,078 million by 2025, it is expected to grow at a CAGR of 12.5% in 2020- 2025. Post the COVID-19 scenario, the alternative marine power technology market is expected to grow from USD 809.99 million in 2020 (a change from the market estimated for 2020 before the COVID outbreak) to USD 2,800 million by 2025, it is expected to grow at a CAGR of 21% during 2020-2025.
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Alternative Marine Power Market, By Vessel
6.1.1 Container Vessels
6.1.2 Cruises
6.1.3 Roll on/Roll-off Ships
6.1.4 Market Size Estimations & Forecasts (2019-2024)
6.1.5 Y-o-Y Growth Rate Analysis
6.1.6 Market Attractiveness Index
6.2 Alternative Marine Power Market, By Power
6.2.1 Up to 2 MW
6.2.2 2 MW – 5 MW
6.2.3 Above 5 MW
6.2.4 Market Size Estimations & Forecasts (2019-2024)
6.2.5 Y-o-Y Growth Rate Analysis
6.2.6 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Vessel
7.2.3 By Power
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Vessel
7.3.3 By Power
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Vessel
7.4.3 By Power
7.5 Latin America
7.5.1 By Country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Vessel
7.5.3 By Power
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Vessel
7.6.3 By Power
8. Key Player Analysis
8.1 ABB Ltd
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Cavotec SA
8.3 Schneider Electric
8.4 Nidec ASI
8.5 MacGregor
8.6 PowerCon
8.7 Siemens AG
8.8 ESL Power Systems, Inc
8.9 Danfoss
8.10 Ratio Electric B.V
9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures
