PUBLISHER: The Business Research Company | PRODUCT CODE: 1852546
PUBLISHER: The Business Research Company | PRODUCT CODE: 1852546
Port electrification involves shifting port operations from fuel-based energy to electrical power. This change enables ships and port facilities to utilize electricity from onshore grids rather than relying on traditional fuel-powered engines. By adopting this approach, ports can reduce air pollution, cut greenhouse gas emissions, and promote sustainable operations, leading to cleaner and more energy-efficient maritime and port activities.
Key elements of port electrification include cables and accessories, frequency converters, switchgear, transformers, and related equipment. Cables and accessories encompass power cables, connectors, joints, and fittings that facilitate safe and efficient electricity transmission throughout port systems. Electrified port equipment includes electric cargo handling machinery, warehouse systems, and marine vessels. Connections can be categorized as either new installations or retrofits, while installation locations are typically divided into shipside and shoreside setups.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
The rapid escalation of U.S. tariffs and the resulting trade tensions in spring 2025 are significantly impacting the utilities sector, particularly in power generation, grid infrastructure, and renewable energy projects. Higher duties on imported equipment such as turbines, transformers, solar panels, and battery storage systems have increased capital and operational costs for utility providers, forcing them to reconsider project timelines or pass on expenses to consumers through higher energy rates. The water and waste management segments are also affected, with tariffs driving up the cost of essential machinery, piping, and treatment technologies. Additionally, retaliatory tariffs have disrupted global supply chains for critical raw materials like rare earth metals used in clean energy technologies, further complicating the transition to sustainable energy sources. The sector must now prioritize domestic sourcing, digitalization, and efficiency-driven innovations to manage escalating costs while ensuring energy security and regulatory compliance.
The port electrification market research report is one of a series of new reports from The Business Research Company that provides port electrification market statistics, including port electrification industry global market size, regional shares, competitors with a port electrification market share, detailed port electrification market segments, market trends and opportunities, and any further data you may need to thrive in the port electrification industry. This port electrification market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The port electrification market size has grown rapidly in recent years. It will grow from $2.51 billion in 2024 to $2.79 billion in 2025 at a compound annual growth rate (CAGR) of 11.1%. The growth observed during the historical period is driven by increasing demand for sustainable logistics and supply chain solutions, expanding government incentives and funding initiatives, greater adoption of electric and hybrid port vehicles, rising container traffic and port throughput, and an intensified focus on decarbonizing maritime transport.
The port electrification market size is expected to see rapid growth in the next few years. It will grow to $4.20 billion in 2029 at a compound annual growth rate (CAGR) of 10.7%. The projected growth during the forecast period is driven by the expanding adoption of shore power systems, heightened emphasis on sustainable port operations, growing investments in renewable energy integration, increased electrification of cargo handling equipment, and the wider implementation of emission regulations. Key trends anticipated in this period include improvements in shore power technology, the development of high-capacity charging systems, technology-enabled automation in cargo handling, incorporation of renewable energy sources, and the adoption of smart grid solutions.
The growth of global trade is expected to drive the expansion of the port electrification market. Trade involves the exchange of goods, services, and capital across international borders, fostering economic growth and global connectivity. Rising consumer demand for a wide variety of products has increased the need for imports and exports beyond local production capacities. Port electrification supports trade by enabling faster, cleaner, and more efficient port operations, minimizing delays and emissions to facilitate the smooth flow of goods along international supply chains. For example, in June 2024, the Bureau of Economic Analysis (BEA) reported that average exports rose by $10.2 billion, while average imports increased by $13.1 billion compared to April 2023. This surge in global trade is contributing to the growth of the port electrification market.
Key players in the port electrification sector are increasingly forming collaborative alliances to accelerate decarbonization, standardize solutions, and promote widespread adoption of zero-emission port infrastructure. Such alliances bring together major stakeholders to establish common standards, share resources, and support large-scale implementation of electrification technologies. In December 2023, APM Terminals from the Netherlands partnered with UAE-based DP World to launch the Zero-Emission Port Alliance (ZEPA) at COP28. The initiative focuses on promoting battery-electric container handling equipment to reduce emissions in ports worldwide. By making clean port equipment more accessible and cost-effective, ZEPA encourages collective action to improve air quality and advance sustainable port electrification.
In March 2025, Wilh. Wilhelmsen Holding ASA, a Norwegian shipping company, joined forces with Malaysia-based Yinson GreenTech and Singapore-based R W Marine Services Pte. Ltd. to develop shore power and zero-emission port solutions in Singapore. The partnership seeks to promote marine electrification by lowering emissions, improving operational efficiency, and supporting the use of electric service vessels. These efforts align with the Maritime and Port Authority of Singapore's sustainability objectives and aim to accelerate the adoption of green port technologies in the region.
Major players in the port electrification market are Hitachi Energy Ltd., Siemens AG, GE Vernova Inc., Schneider Electric SE, ABB Ltd., Danfoss Inc., WSP Global Inc., Wartsila Corporation, Kalmar Corporation, Crowley Shipping, APSEZ Ltd., Ormazabal International Business S.A., Conductix-Wampfler GmbH, Stemmann Technik GmbH, Cavotec SA, Kempower Corporation, Zinus AS, Blueday Technology AS, ESL Power Systems Inc., PowerCon A/S, and MJR Power And Automation.
Europe was the largest region in the port electrification market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in port electrification report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the port electrification market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The port electrification market consists of sales of shore power systems, onshore power converters, and electrified cargo handling equipment. Values in this market are 'factory gate' values; that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Port Electrification Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on port electrification market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for port electrification ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The port electrification market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.