Shore Power Market Size & Share Analysis - Emerging Trends, Growth Opportunities, Competitive Landscape, and Forecasts (2025 - 2032)

The shore power market, valued at USD 1,798.2 million in 2024, is set to grow at a robust rate of 13.9% from 2025 to 2032, reaching USD 5,039.7 million by 2032. This growth is driven by the increasing adoption of shore power systems that reduce on-site emissions, advancements in smart technologies for better efficiency, and a rising emphasis on sustainable energy solutions. The demand for cleaner, more efficient power sources at ports is accelerating as environmental regulations tighten and governments implement measures to reduce greenhouse gas emissions from the maritime sector.

A key factor contributing to this market expansion is the growing cruise passenger traffic and the associated need to minimize pollution from port operations. Additionally, the increasing investments in renewable energy and shore power projects, particularly in Europe and Asia-Pacific, are positioning the market for significant growth. Notably, government initiatives to reduce the environmental impact of port operations, such as the European Commission's funding of shore power installations at Hamburg Port, offer substantial opportunities for market players.

Key Insights

The shoreside installation category dominates the market, holding 65% of the market share in 2024. Shoreside systems provide vital power to ships docked at ports, minimizing their reliance on onboard generators and helping reduce carbon emissions during operations.

The shipside installation category is expected to grow at the highest CAGR of 15%, as ships increasingly require electricity for essential functions like air conditioning, refrigeration, and onboard computers, reducing the use of fuel-powered generators and decreasing noise and air pollution in port areas.

Smart technologies such as IoT devices, real-time energy management systems, and advanced digital tools are enhancing shore power efficiency. These innovations help ports predict maintenance issues, improve operational efficiency, and optimize energy use, contributing to lower operational costs and reducing environmental impact.

Transformers hold the largest market share (35%) in the components category, as they are essential for safe and smooth energy transfer between the port's electrical system and the ship. Transformers ensure that the voltage is appropriately adjusted to meet the ship's power requirements.

The frequency converters segment is expected to grow at the fastest rate of 14.5%, driven by their ability to convert electrical power between different voltage levels, allowing ships to use local port grid electricity regardless of their operational voltage. This reduces diesel fuel consumption and lowers carbon emissions.

New installations account for the largest share (70%) of the connections category in 2024. As more ports upgrade their infrastructure to meet environmental regulations, the demand for new shore power systems is increasing. Ships are now being designed and built with the necessary equipment for shore power connections, further driving growth in this segment.

Retrofit installations, while a smaller market segment, are growing at a rate of 14.2%, as older vessels are being modified to meet new environmental standards and safety regulations. Retrofitting allows existing ships to be upgraded with shore power technology, making them more sustainable without the need for completely new vessels.

The Asia-Pacific region holds the largest share of the market (35%) and is also the fastest-growing, with a projected CAGR of 14.1%. This growth is driven by the region's rapidly expanding ports, especially in China and India, where the adoption of shore power is increasing. China has mandated that new domestic vessels be equipped with shore power systems and continues to invest heavily in green port infrastructure.

In North America, the U.S. is a major player, with significant investments in shore power projects, including the Port of Long Beach's development of shore power compatibility for its fleet. Similarly, European countries like Germany and the U.K. are leading the way in implementing shore power systems at major ports to meet environmental goals and improve air quality.

Government initiatives, such as the EU's TEN-T ports rule and funding from organizations like the European Commission, are playing a crucial role in accelerating the adoption of shore power. These initiatives aim to reduce greenhouse gas emissions from the maritime industry, offering both environmental and economic incentives for ports to implement shore power solutions.

Key players in the shore power market include ABB Ltd., Siemens AG, Schneider Electric SE, and Wartsila Oyj Abp. These companies are expanding their portfolios to include innovative shore power technologies, partnering with ports worldwide to meet the growing demand for clean energy solutions in maritime operations.

Recent updates include the Port of Aberdeen's operationalization of a shore power system in June 2025, and the M/V Kuala Lumpur Express becoming the first ship to use the shore power system at the Husky Terminal in Tacoma, U.S. These developments reflect the ongoing global efforts to transition towards more sustainable port operations.