Shore Power Electricity Revenue in Port Operations is Expected to Exceed $334 Million in 2024, According to Navigant Research

California, the European Union, and parts of Asia Pacific represent the largest market opportunities for shore power, report finds

BOULDER, Colo.--()--A new report from Navigant Research analyzes the global market for energy-efficient port operations, with a focus on natural gas drayage trucks and shore power, including forecasts that extend through 2024.

Within port operations, ocean-going ships, yard trucks, forklifts, cranes, drayage trucks, and railcars all have significant impacts on the surrounding environment, mainly through the burning of diesel fuel. However, incentives and new technologies, including those powered by natural gas and electricity, are expected to drive improvements in energy efficiency during the next decade. Click to tweet: According to a new report from Navigant Research, shore power utility electricity revenue in port operations is expected to grow from $32.0 million in 2015 to $334.7 million in 2024.

“The energy-efficient port operations market is developing quickly, particularly in the area of shore power, but the use of natural gas drayage trucks has not taken off as quickly in regions outside of North America, mostly because of a lack of infrastructure and high purchase prices,” says Ryan Citron, research analyst with Navigant Research. “The growing trends of using electric rubber tire gantry cranes (eRTGs) and electric forklifts to replace their diesel-powered counterparts, however, are expected to steadily expand throughout global port operations.”

Shore power is expected to ultimately become the most impactful tool in making ports more efficient, due to the enormous associated environmental improvements and the existing shore power regulatory requirements in California and the European Union. According to the report, shore power equipment suppliers are expected to see an increase in market opportunities over the forecast period, particularly in these favorable regulatory environments and the emerging markets in Asia Pacific.

The report, Energy-Efficient Port Operations, examines the energy-efficient port operations market, with a particular focus on natural gas drayage trucks and shore power. The study analyzes the drivers for energy-efficient technologies used in port operations, including financial, regulatory, environmental, and economic factors. Global forecasts of the energy-efficient port operations market extend through 2024. The report also examines the leading energy-efficient ports around the world, as well as the competitive landscape for port operators and suppliers. An Executive Summary of the report is available for free download on the Navigant Research website.

About Navigant Research

Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.

About Navigant

Navigant Consulting, Inc. is an independent specialized, global professional services firm that combines deep industry knowledge with technical expertise to enable companies to defend, protect, and create value. With a focus on industries and clients facing transformational change and significant regulatory and legal issues, the Firm serves clients primarily in the healthcare, energy, and financial services sectors which represent highly complex market and regulatory environments. Professional service offerings include strategic, financial, operational, technology, risk management, compliance, investigative solutions, dispute resolutions services, and business process management services. The Firm provides services to companies, legal counsel, and governmental agencies. The business is organized in four reporting segments – Disputes, Investigations & Economics; Financial, Risk & Compliance; Healthcare; and Energy. More information about Navigant can be found at navigant.com.

* The information contained in this press release concerning the report, Energy-Efficient Port Operations, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.

Contacts

Navigant Research
Ellie Stutts, +1-202-973-3249
ellie.stutts@navigant.com
or
Megan Maupin, +1-312-583-5703
megan.maupin@navigant.com

Release Summary

Incentives and new technologies, including those powered by natural gas and electricity, are expected to drive energy efficiency improvements in port operations during the next decade.

Contacts

Navigant Research
Ellie Stutts, +1-202-973-3249
ellie.stutts@navigant.com
or
Megan Maupin, +1-312-583-5703
megan.maupin@navigant.com