Alternate Marine Power Market to Have Good Business Opportunities in the Coming Years

Albany, NY — 05/18/2018 — Today, almost 90%–92% of the global trade is carried out with the help of ships and vessels via sea route. Growth of the marine industry has led to rapid increase in marine pollution. Traditionally, air emission norms applicable to vehicles were not imposed on ships and vessels. However, several studies and measurements have indicated that a single ship is equivalent to 50 million vehicles in terms of air pollution contribution. Ships and vessels is a major contributor to the air pollution of coastal areas. This finding has led to formulation of several new mandates and regulations for reducing the pollution caused by ships and vessels. Air pollution from the marine industry has become a reason for criticism for the last few years, primarily due to emission of highly pollutant gases from the exhaust of ship engines. In order to control the air pollution from the marine industry, several practices are being adopted. One such practice is alternate marine power or cold ironing.

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Alternate marine power or cold ironing is a process or practice in which ocean-venturing vessels are provided with electric power from the shore side, when they are docked or are at berth, in order to close their auxiliary diesel generators. The electric power is supplied to the ship either from the power grid of the port city, or from in-port power generation plants, or from the renewable power source present in the port. The electric power is utilized for continuous functioning of emergency devices; lighting, cooling or heating equipment; and other equipment that are operational during hoteling activity of the vessel or ship. Cold ironing requires plugging-in of the vessel at the port, which completely eliminates the need for running of the vessel's diesel generator. This eliminates the pollution originating from shipboard emission, commonly in the port and surrounding areas that suffer from sooty air.

Based on type of AC power supply, the alternate marine power market can be classified into 440 V of supply, 660 V of supply, 6600 V of supply, and 11000 V of supply. Based on power requirement, the market can be segmented into up to 1 MW, 1 MW to 5 MW, and above 5 MW. In terms of application, the alternate marine power market can be segregated into naval ships, cargo ships, passenger ships, tankers, and others. The cargo ships segment is likely to hold a significant share of the alternate marine power market and is expected to expand at a significant growth rate during the forecast period. This is primarily attributable to the increasing marine trade activities across the globe.

In terms of region, the global alternate marine power market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is estimated to hold a dominant share of the global alternate marine power market during the forecast period. Moreover, Europe is expected to follow North America during the forecast period. However, the alternate marine power market in Asia Pacific is anticipated to expand at a significant growth rate during the forecast period. Growth of the market in the region is attributable to growth of economies of India and China and rise in trade activities in the two countries.

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Key players operating in the global alternate marine power market include ABB Group, Schneider Electric, Wärtsilä, Siemens AG, and Enel S.p.A.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

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