Alternate Marine Power Market Size, Share & Industry Analysis, By Ship Type (Container Ship, Cruiser Ship, Roll-on/Roll-off Ship, Defense Ship, Others), By Voltage (Low Voltage, Medium Voltage, High Voltage) And Regional Forecast, 2024-2032
KEY MARKET INSIGHTS
Alternate marine power (AMP) is an anti-pollution program that focuses on air quality by reducing the emission caused by ships. Alternate Marine Power ships are equipped with a “plug-in” system for electric power from ports as a substitute when ships are halting at ports for loading/unloading of cargos. Various ports are encouraging funds for implementing alternate marine power systems owing to increasing industrial trading by cargo ships.
Based on the ship type, the market is segmented into container ships, cruiser ships, roll-on/roll-off ships, defense ships, and others. The container ship type is anticipated to dominate the market owing to higher efficiency for cargo transportation which led to the maximum transport end user. Other than that its high versatility consumes lower energy which allows maximum transportation of goods, which increases the demand for alternate marine power across ports.
Based on the voltage, the market is segmented into low voltage, medium voltage, and high voltage. The low voltage segment is anticipated to dominate the most significant market owing to the high reliability of the power supply which drives up to 5MV. Other than that, Alternate marine power installation has led to higher fuel efficiency specifically for diesel propulsion systems for all stages of operation which drives the low voltage segment.
One of the major drivers for the global alternate marine power market is the growing volume of the shipping industry owing to industrial trades and urbanization. Further, the growing emissions caused by ships around the ports degrades the air quality and water quality which is the expected demand for alternate marine power for controlling emission.
The Initial cost involved in installing the alternate marine power is very high. Other than that, the modification required in various ships for adapting the maritime power is very costly which hinders the alternate power market.
Key Market Driver -
The emerging demand for maritime trades, along with the increasing emission across the ports degrading the quality of air and water drives the demand for alternate marine power
Key Market Restraint -
the initial cost of the alternate maritime hinders the alternate marine power market.
Key players covered:
Some of the major companies present in the global alternate marine power market are ABB, Power Systems Inc., Danfoss, Ratio Electric B.V., Pillar Group, ESL Power System Inc., Shore Power Technologies, Wabtec Corporation, MacGregor, PowerCon A/S, and Siemens.
Regional analysis:
The alternate marine power market has been studied across North America, Europe, Asia Pacific, Latin America, the Middle East & Africa. The Asia Pacific is expected to dominate the most significant market in terms of volume of ports and harbors & rise of ship buildings in regions like China, Japan, South Korea, and others owing to automotive industries and electronics trading; other than that, China has the seen the fastest growing investment in alternate marine power which is anticipated to drive the market across the region. In North America and Europe, the growing commercial vessels and rise in ship-building activities are expected to drive the alternate marine power market across the region. In the Middle East & Africa, the alternate marine power market has been driven by the growing investments in commercial ships and transportation ships directly impacts the alternate marine power market.
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Segmentation
ATTRIBUTE | DETAILS |
By Ship Type |
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By Voltage |
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By Geography |
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Key Industry Developments
- On 21 October 2020, ABB has delivered marine & port shore connection technology to Vikings ferry line. The shore connection technology design is valued at city-ports which will lead to sustainable in-harbour operations.
- On 02 October 2020, Siemens has built a power system shore at Port of Kiel. The power shore is the German’s biggest power system which will reduce the CO2 emission by 8,000 tons annually.
- Ongoing
- 2023
- 2019-2022
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