Alternate Marine Power Market is anticipated to expand at a CAGR of 10.5% during the forecast period 2019 - 2027 - PowerPoint PPT Presentation

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Alternate Marine Power Market is anticipated to expand at a CAGR of 10.5% during the forecast period 2019 - 2027


Alternate Marine Power Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027 – PowerPoint PPT presentation

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Title: Alternate Marine Power Market is anticipated to expand at a CAGR of 10.5% during the forecast period 2019 - 2027

Alternate Marine Power MarketGlobal
Industry Analysis, Size, Share, Growth, Trends
and Forecast, 2027
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Global Alternate Marine Power Market Key
  • The global alternate marine power market was
    valued at US 720 Mn in 2018 and is anticipated
    to expand at a CAGR of 10.5 during the forecast
  • Among the vessels, the others segment held a
    dominant share of the global alternate marine
    power market in 2018. The segment includes
    ferries, Ro-Pax, and tugs. Growth of the others
    segment can be attributed to the rising demand
    for merchant vessels employed to carry
    passengers, cargo, and vehicles.
  • In terms of capacity, the 2 MW 5 MW segment
    accounted for a major share of the global
    alternate marine power market in 2018. Surge in
    the demand for shore-side electric power to
    containers and cruises at berth is anticipated to
    fuel the segment during the forecast period.
  • The alternate marine power market in Asia Pacific
    is likely to expand at a significant pace during
    the forecast period, owing to rapid urbanization
    and industrialization in the region.

  • Key Drivers of Global Alternate Marine Power
  • Emission of greenhouse gases (GHGs) in and around
    port areas is becoming a major concern across the
    globe. Every year, a large amount of air
    pollutants, such as carbon monoxide, nitrogen
    oxides, sulfur oxides, and particulate matter,
    are released at ports and nearby areas.
  • Ships run on bunker fuel, which is one of the
    most polluting fuels. A large number of ships and
    trucks visit ports every day. This causes
    significant increase in the prevalence of
    respiratory diseases and cancer, and it also
    results in the degradation of water quality.
  • As per 2014 Clean Power Transport Directive, all
    trans-European core ports of the European Union
    are required to provide alternate marine power as
    a substitute for oil from 2025.
  • Furthermore, shipping companies have to pay
    energy taxes on electricity, while ships at berth
    are plugging into alternate marine power systems.
    According to the New Energy Taxation
    Directive 2018, all taxes are exempted on
    electricity utilization from alternate marine
    power systems.
  • Alternate marine power systems provide
    electricity as a substitute for diesel, which
    reduces greenhouse gas (GHG) emissions
  • Thus, stringent government regulations are
    driving the global alternate marine power market.
  • Moreover, significant increase in globalization
    and industrialization has created high demand for
    sea trade, owing to the low cost of
    transportation. This is projected to drive the
    global alternate marine power market during the
    forecast period.

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Major Developments in Global Alternate Marine
Power Market
  • In August 2019, MacGregor completed the
    acquisition of the marine and offshore businesses
    of TTS Group. The deal was finalized in
    February 2018, and was valued at approximately
    US 96 Mn.
  • In March 2019, Cavotec SA bagged a contract for
    the installation of an alternate marine power
    system. The order was valued at approximately US
    12 Mn. The system is expected to be operational
    by 2020.
  • In November 2018, Siemens signed a contract with
    MV WERFTEN Wismar GmbH to install a turnkey
    Siharbor onshore power supply (OPS) system.
    The system would be used to build Global-class
    cruise ships. The order covers all components
    required for powering ships and grid connections.
    It also includes the completion of substations
    and transformers, and installation of
    medium-voltage switch gears.
  • In September 2018, ABB Ltd. was awarded a
    contract to deliver the new shore-to-ship
    technology to Her Majestys Naval Base (HMNB) in
    Portsmouth, the U.K. HMNB Portsmouth accommodates
    almost 66 of the U.K. Navys surface fleet,
    including Queen Elizabeth-class aircraft
    carriers, Fishery Protection Squadron, vessels,
    and frigates.
  • In 2017, Vancouver Fraser Port Authority awarded
    a contract to ABB to provide a technology
    solution that would enable the supply of shore
    power to the GCT Delta port of GCT Global
    Container Terminals Inc., which is located in

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