Dive Brief:

• With global trade largely focused on ocean ports, Navigant Research believes more efficient operations at those ports will create significant opportunities for energy efficiency and utility revenues in the next decade.
• According to a new report from Navigant, utility revenues from shore power at port operations will grow from $32 million this year to more than $330 million in 2024. Instead of running their engines to generate power for operations at the port, large shipping vessels could instead plug into utility-provided electric power, reducing air pollution and upping load for power companies.
• Because of regulatory requirements in California and the European Union pushing for cleaner air, Navigant anticipates shore power will become as essential tool to making ports more efficient.

Dive Insight:

Navigant's new report, which focuses on natural gas drayage trucks and shore power, finds the global revenues from shore power for port operations will reach $334.7 million in 2024, as companies look to reduce usage and environmental regulations push reduced use of diesel.

“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,” Ryan Citron, research analyst with Navigant, said in a statement

The increased use of electric rubber tire gantry cranes and electric forklifts to replace their diesel-powered machines "are expected to steadily expand throughout global port operations," Citron said.

Navigant believes shore power equipment suppliers will see an increase in market opportunities over the next decade, particularly in California and Europe, where there are favorable regulatory environments, and the emerging markets in Asia Pacific.

Fierce Energy points out that Canada recently announced a plan to install two types of shore power at the Port of Montreal, and the project is expected to reduce greenhouse gas emissions by 2,800 tons annually.