Alternative Marine Power Market

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Alternative Marine Power Market Research Report - Segmentation by Vessel (Container Vessels, Cruises, and Roll on/Roll-off Ships), by Power (Up to 2 MW, 2 MW – 5 MW, Above 5 MW) and Region - Industry Forecast 2022 to 2027

Published: January, 2022

ID: 10300

Pages: 175

Alternative Marine Power Market Size (2022-2027):

The Global Alternative Marine Power Market was worth US$ 812 million in 2021 and is predicted to reach US$ 2082.29 million by 2027, with a CAGR of 12.5% between 2022-2027.

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 the 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.

Market Growth:

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.

Market Drivers:

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.

Market 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 an 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 is low, and the payback period is over a few years

ALTERNATIVE MARINE POWER MARKET REPORT COVERAGE:

REPORT METRIC	DETAILS
Market Size Available	2021 – 2027
Base Year	2021
Forecast Period	2022 - 2027
CAGR	12.5%
Segments Covered	By Vessel, Power Requirement, 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	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 and Others.

Market Segmentation:

Alternative Marine Power Market - By Vessel:

Container Vessels
Cruises
Roll on/Roll-off Ships

Alternative Marine Power Market - By Power Requirement:

Up to 2 MW
2 MW-5 MW
Above 5 MW

Market Regional Analysis:

Geographically, The Global Alternative Marine Power Market is divided into

North America
Asia-Pacific
Europe
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.

Market 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
Wabtec Corporation

Recent Developments:

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.

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 (2022-2027)

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 (2022-2027)

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 (2022 - 2027)

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

Global Alternative Marine Power Market By Region, From 2022 - 2027 ( USD Billion )
Global Alternative Marine Power Market By Vessel, From 2022 - 2027 ( USD Billion )
Global Container Vessels Market By Region, From 2022 - 2027 ( USD Billion )
Global Cruises Market By Region, From 2022 - 2027 ( USD Billion )
Global Roll on/Roll-off Ships Market By Region, From 2022 - 2027 ( USD Billion )
Global Alternative Marine Power Market By Power, From 2022 - 2027 ( USD Billion )
Global Up to 2 MW Market By Region, From 2022 - 2027 ( USD Billion )
Global 2 MW – 5 MW Market By Region, From 2022 - 2027 ( USD Billion )
Global Above 5 MW Market By Region, From 2022 - 2027 ( USD Billion )