1 week Ago
DELRAY BEACH, Fla. , Nov. 14, 2024 /PRNewswire/ -- The global Shore Power Market is anticipated to grow from estimated USD 2.
03 billion in 2024 to USD 3.58 billion by 2029, at a CAGR of 12.0% during the forecast period.
This growth is mainly driven by a higher demand for renewals in the maritime sector in order to reduce carbon emissions from docked ships, and therefore stricter regulations by the government to protect the environment. Higher investments in port infrastructure and alternative renewable energy sources entry are also adding up to the adoption of the shore power system. Among these are automation, smart grids, and energy management systems that are deployed to optimize shore power operations by improving energy efficiency and minimizing the costs associated with its operations.
These benefits have propelled shore power systems from being ecologically and economically unfeasible to become the core part of transition to cleaner and more efficient port operations everywhere around the world..
