Marine Vessel Market

Best Price Guarantee	Length	Publisher	Published Date	SKU
from $4,850	200 Pages	Fortune Business Insights Pvt. Ltd.	September, 2024	FOB19185574

Best Price Guarantee
Price	from $4,850
Length	200 Pages
Publisher	Fortune Business Insights Pvt. Ltd.
Published Date	September, 2024
SKU	FOB19185574

Marine Vessel Market

Growth Factors of Marine Vessel Market

The marine vessel market size was valued at USD 152.38 billion in 2023, and the market is now projected to grow from USD 160.56 billion in 2024 to USD 247.96 billion by 2032, exhibiting a CAGR of 5.6% during the forecast period of 2024-2032.

Pandemic had a great effect on delivery markets in 2020. Clarksons Shipping Intelligence Network (2020a) predicts a 4.4% fall in international seaborne exchange in 2020, just like the drop witnessed following the worldwide economic disaster.

Sea transport is the foundation of globalization and industry, fostering supply chains and allowing cross-border trade. Major suppliers, notably raw material and commodity market providers, are increasingly relying on marine routes for transit due to their lower carbon footprint compared to road freight transportation. The shipping sector has expanded significantly over the previous decade as a result of growing demand for enormous amounts of items, mainly crude oil, steel, minerals, and completed commodities from developing nations.

The marine vessel market growth is rapidly increasing and aggressively utilizing modern technology. Digital transformation is on the center of competitiveness and globalization. The shipbuilding sector has to increase a strategy to adapt to the digital generation. The utilization of new technology in shipbuilding is using market growth. Shipbuilders are in high demand because to improvements in technology which include 3D printing, LNG engines, cybersecurity, digital platforms, fuel optimization systems, smart ship solutions, laser cladding machines, Internet of Things, new substances, robots, and virtual and augmented truth.

Comprehensive Analysis of Marine Vessel Market

The market is classified by ship type, including container ships, passenger ships, bulk carriers, tankers, offshore ships, specialized vessels, general cargo ships, and others. We investigated additional categories such as ferry boats, cruise ships, LNG and LPG carriers, and tankers. The market is divided into four segments based on dead weight: 100 to 499 GT, 500 to 24,999 GT, 25,000 to 59,999 GT, and over 60,000 GT. The market segmented by system includes propulsion, control, electrical, exterior structure, power generator, deck machinery, and others. The market is divided into two segments based on the solution: line fit and retrofit.

The Asia Pacific region lead the Marine Vessel Market share by benefitting a market size of USD 79.94 billion in 2023 due to Asia Pacific had the most important proportion of the marine vessel market. China, Japan, and South Korea are expected to boost their marine fleets, making it the quickest-growing location for the duration of the projection duration. According to the UNCTAD Report 2021, China, Japan, and the Republic of Korea dominate the shipbuilding commercial enterprise with 94%. In March 2023, Cummins introduced a hybrid-like minded B4.5 propulsion and auxiliary engine for Asia Pacific maritime markets. The lightweight yet powerful B4.5 engine is appropriate for each amusement and commercial maritime packages. It may be used as a standalone engine, a generator set, or in a hybrid package deal.

The marine vessel market is fragmented, with many agencies producing ships. OEMs are utilizing progressive technologies like robot structures, 3D printing, and electric powered propulsion. Top producers embody General Dynamics Corporation, Thales Group, Hyundai Heavy Industries, Mitsubishi Heavy Industries, and BAE Systems. Key agencies consist of BAE Systems, Mazagon Dock Shipbuilders, GRES, Hyundai Heavy Industries, NASSCO, Larsen.

Hyundai Mipo Dockyard plans to expand a subsequent-generation Hybrid Electric Propulsion System for a business service operation vessel (CSOV) with the Korea Register of Shipping in July 2023.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 5.6% over 2024 to 2032

Unit Value (USD Billion)

Segmentation By Ship Type

- Container Ships

- Passenger Ships

- Bulk Carriers

- Tankers

- Offshore Ships

- Specialty Vessel

- General Cargo Ship

- Others

By Dead Weight

- 100 GT to 499 GT

- 500 GT to 24,999 GT

- 25,000 GT to 59,999 GT

- Above 60,000 GT

By System

- Propulsion System

- Control System

- Electrical System

- Outer Structure

- Power Generator System

- Deck Machinery

- Others

By Solution

- Line Fit

- Retro Fit

By Geography

- North America (By Ship Type, By Dead Weight, By System, By Solution, and Country)

U.S.
Canada

- Europe (By Ship Type, By Dead Weight, By System, By Solution, and Country)

U.K.
Germany
Greece
France
Russia
Rest of Europe

- Asia Pacific (By Ship Type, By Dead Weight, By System, By Solution, and Country)

China
Japan
Singapore
Republic of Korea
Taiwan
Indonesia
Rest of Asia Pacific

- Rest of the World (By Ship Type, By Dead Weight, By System, By Solution, and Country)

Latin America
Middle East & Africa

Please Note:

1. Introduction: 1.1. Research Scope; 1.2. Market Segmentation; 1.3. Research Methodology; 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics: 3.1. Market Drivers; 3.2. Market Restraints; 3.3. Market Opportunities; 3.4. Market Trends
4. Key Insights: 4.1. Key Industry Developments - Key Contracts & Agreements, Mergers, Acquisitions and Partnerships; 4.2. Latest Technological Advancements; 4.3. Porters Five Forces Analysis; 4.4. Supply Chain Analysis; 4.5. Qualitative Insights - Impact of COVID-19 Pandemic on Global Marine Vessel Market
5. Global Marine Vessel Market Analysis, Insights and Forecast, 2019-2032: 5.1. Key Findings / Definitions; 5.2. Market Analysis, Insights and Forecast - By Ship Type; 5.2.1. Container Ships; 5.2.2. Passenger Ships; 5.2.3. Bulk Carriers; 5.2.4. Tankers; 5.2.5. Offshore Ships; 5.2.6. Specialty Vessel; 5.2.7. General Cargo Ship; 5.2.8. Others; 5.3. Market Analysis, Insights and Forecast - By Dead Weight; 5.3.1. 100 GT to 499 GT; 5.3.2. 500 GT to 24,999 GT; 5.3.3. 25,000 GT to 59,999 GT; 5.3.4. Above 60,000 GT; 5.4. Market Analysis, Insights and Forecast - By System; 5.4.1. Propulsion System; 5.4.2. Control System; 5.4.3. Electrical System; 5.4.4. Outer Structure; 5.4.5. Power Generator System; 5.4.6. Deck Machinery; 5.4.7. Others; 5.5. Market Analysis, Insights and Forecast - By Solution; 5.5.1. Line Fit; 5.5.2. Retro Fit; 5.6. Market Analysis, Insights and Forecast - By Region; 5.6.1. North America; 5.6.2. Europe; 5.6.3. Asia Pacific; 5.6.4. Rest of World
6. North America Marine Vessel Market Analysis, Insights and Forecast, 2019-2032: 6.1. Market Analysis, Insights and Forecast - By Ship Type; 6.1.1. Container Ships; 6.1.2. Passenger Ships; 6.1.3. Bulk Carriers; 6.1.4. Tankers; 6.1.5. Offshore Ships; 6.1.6. Specialty Vessel; 6.1.7. General Cargo Ship; 6.1.8. Others; 6.2. Market Analysis, Insights and Forecast - By Dead Weight; 6.2.1. 100 GT to 499 GT; 6.2.2. 500 GT to 24,999 GT; 6.2.3. 25,000 GT to 59,999 GT; 6.2.4. Above 60,000 GT; 6.3. Market Analysis, Insights and Forecast - By System; 6.3.1. Propulsion System; 6.3.2. Control System; 6.3.3. Electrical System; 6.3.4. Outer Structure; 6.3.5. Power Generator System; 6.3.6. Deck Machinery; 6.3.7. Others; 6.4. Market Analysis, Insights and Forecast - By Solution; 6.4.1. Line Fit; 6.4.2. Retro Fit; 6.5. Market Analysis, Insights and Forecast - By Country; 6.5.1. U.S.; 6.5.1.1. Market Analysis, Insights and Forecast - By Solution; 6.5.1.1.1. Line Fit; 6.5.1.1.2. Retro Fit; 6.5.2. Canada; 6.5.2.1. Market Analysis, Insights and Forecast - By Solution; 6.5.2.1.1. Line Fit; 6.5.2.1.2. Retro Fit
7. Europe Marine Vessel Market Analysis, Insights and Forecast, 2019-2032: 7.1. Market Analysis, Insights and Forecast - By Ship Type; 7.1.1. Container Ships; 7.1.2. Passenger Ships; 7.1.3. Bulk Carriers; 7.1.4. Tankers; 7.1.5. Offshore Ships; 7.1.6. Specialty Vessel; 7.1.7. General Cargo Ship; 7.1.8. Others; 7.2. Market Analysis, Insights and Forecast - By Dead Weight; 7.2.1. 100 GT to 499 GT; 7.2.2. 500 GT to 24,999 GT; 7.2.3. 25,000 GT to 59,999 GT; 7.2.4. Above 60,000 GT; 7.3. Market Analysis, Insights and Forecast - By System; 7.3.1. Propulsion System; 7.3.2. Control System; 7.3.3. Electrical System; 7.3.4. Outer Structure; 7.3.5. Power Generator System; 7.3.6. Deck Machinery; 7.3.7. Others; 7.4. Market Analysis, Insights and Forecast - By Solution; 7.4.1. Line Fit; 7.4.2. Retro Fit; 7.5. Market Analysis, Insights and Forecast - By Country; 7.5.1. U.K.; 7.5.1.1. Market Analysis, Insights and Forecast - By Solution; 7.5.1.1.1. Line Fit; 7.5.1.1.2. Retro Fit; 7.5.2. Germany; 7.5.2.1. Market Analysis, Insights and Forecast - By Solution; 7.5.2.1.1. Line Fit; 7.5.2.1.2. Retro Fit; 7.5.3. Greece; 7.5.3.1. Market Analysis, Insights and Forecast - By Solution; 7.5.3.1.1. Line Fit; 7.5.3.1.2. Retro Fit; 7.5.4. France; 7.5.4.1. Market Analysis, Insights and Forecast - By Solution; 7.5.4.1.1. Line Fit; 7.5.4.1.2. Retro Fit; 7.5.5. Russia; 7.5.5.1. Market Analysis, Insights and Forecast - By Solution; 7.5.5.1.1. Line Fit; 7.5.5.1.2. Retro Fit; 7.5.6. Rest of Europe; 7.5.6.1. Market Analysis, Insights and Forecast - By Solution; 7.5.6.1.1. Line Fit; 7.5.6.1.2. Retro Fit
8. Asia Pacific Marine Vessel Market Analysis, Insights and Forecast, 2019-2032: 8.1. Market Analysis, Insights and Forecast - By Ship Type; 8.1.1. Container Ships; 8.1.2. Passenger Ships; 8.1.3. Bulk Carriers; 8.1.4. Tankers; 8.1.5. Offshore Ships; 8.1.6. Specialty Vessel; 8.1.7. General Cargo Ship; 8.1.8. Others; 8.2. Market Analysis, Insights and Forecast - By Dead Weight; 8.2.1. 100 GT to 499 GT; 8.2.2. 500 GT to 24,999 GT; 8.2.3. 25,000 GT to 59,999 GT; 8.2.4. Above 60,000 GT; 8.3. Market Analysis, Insights and Forecast - By System; 8.3.1. Propulsion System; 8.3.2. Control System; 8.3.3. Electrical System; 8.3.4. Outer Structure; 8.3.5. Power Generator System; 8.3.6. Deck Machinery; 8.3.7. Others; 8.4. Market Analysis, Insights and Forecast - By Solution; 8.4.1. Line Fit; 8.4.2. Retro Fit; 8.5. Market Analysis, Insights and Forecast - By Country; 8.5.1. China; 8.5.1.1. Market Analysis, Insights and Forecast - By Solution; 8.5.1.1.1. Line Fit; 8.5.1.1.2. Retro Fit; 8.5.2. Japan; 8.5.2.1. Market Analysis, Insights and Forecast - By Solution; 8.5.2.1.1. Line Fit; 8.5.2.1.2. Retro Fit; 8.5.3. Singapore; 8.5.3.1. Market Analysis, Insights and Forecast - By Solution; 8.5.3.1.1. Line Fit; 8.5.3.1.2. Retro Fit; 8.5.4. Republic of Korea; 8.5.4.1. Market Analysis, Insights and Forecast - By Solution; 8.5.4.1.1. Line Fit; 8.5.4.1.2. Retro Fit; 8.5.5. Taiwan; 8.5.5.1. Market Analysis, Insights and Forecast - By Solution; 8.5.5.1.1. Line Fit; 8.5.5.1.2. Retro Fit; 8.5.6. Indonesia; 8.5.6.1. Market Analysis, Insights and Forecast - By Solution; 8.5.6.1.1. Line Fit; 8.5.6.1.2. Retro Fit; 8.5.7. Rest of Asia Pacific; 8.5.7.1. Market Analysis, Insights and Forecast - By Solution; 8.5.7.1.1. Line Fit; 8.5.7.1.2. Retro Fit
9. Rest of World Marine Vessel Market Analysis, Insights and Forecast, 2019-2032: 9.1. Market Analysis, Insights and Forecast - By Ship Type; 9.1.1. Container Ships; 9.1.2. Passenger Ships; 9.1.3. Bulk Carriers; 9.1.4. Tankers; 9.1.5. Offshore Ships; 9.1.6. Specialty Vessel; 9.1.7. General Cargo Ship; 9.1.8. Others; 9.2. Market Analysis, Insights and Forecast - By Dead Weight; 9.2.1. 100 GT to 499 GT; 9.2.2. 500 GT to 24,999 GT; 9.2.3. 25,000 GT to 59,999 GT; 9.2.4. Above 60,000 GT; 9.3. Market Analysis, Insights and Forecast - By System; 9.3.1. Propulsion System; 9.3.2. Control System; 9.3.3. Electrical System; 9.3.4. Outer Structure; 9.3.5. Power Generator System; 9.3.6. Deck Machinery; 9.3.7. Others; 9.4. Market Analysis, Insights and Forecast - By Solution; 9.4.1. Line Fit; 9.4.2. Retro Fit; 9.5. Market Analysis, Insights and Forecast - By Country; 9.5.1. Latin America; 9.5.1.1. Market Analysis, Insights and Forecast - By Solution; 9.5.1.1.1. Line Fit; 9.5.1.1.2. Retro Fit; 9.5.2. Middle East & Africa; 9.5.2.1. Market Analysis, Insights and Forecast - By Solution; 9.5.2.1.1. Line Fit; 9.5.2.1.2. Retro Fit
10. Competitive Analysis: 10.1. Global Marine Vessel Market Rank Analysis (2023); 10.2. Competitive Dashboard
11. Company Profiles: 11.1. BAE Systems plc (U.K.); 11.1.1. Overview; 11.1.2. Products & services; 11.1.3. SWOT Analysis; 11.1.4. Recent Developments; 11.1.5. Strategies; 11.1.6. Financials (Based on Availability); 11.2. Mazagon Dock Shipbuilders Ltd. (India); 11.2.1. Overview; 11.2.2. Products & services; 11.2.3. SWOT Analysis; 11.2.4. Recent Developments; 11.2.5. Strategies; 11.2.6. Financials (Based on Availability); 11.3. Garden Reach Shipbuilders and Engineers (GRSE) Ltd. (India); 11.3.1. Overview; 11.3.2. Products & services; 11.3.3. SWOT Analysis; 11.3.4. Recent Developments; 11.3.5. Strategies; 11.3.6. Financials (Based on Availability); 11.4. Hyundai Heavy Industries Co. Ltd. (HHI) (South Korea); 11.4.1. Overview; 11.4.2. Products & services; 11.4.3. SWOT Analysis; 11.4.4. Recent Developments; 11.4.5. Strategies; 11.4.6. Financials (Based on Availability); 11.5. FINCANTIERI S.p.A. (Italy); 11.5.1. Overview; 11.5.2. Products & services; 11.5.3. SWOT Analysis; 11.5.4. Recent Developments; 11.5.5. Strategies; 11.5.6. Financials (Based on Availability); 11.6. General Dynamics Corporation-NASSCO (U.S.); 11.6.1. Overview; 11.6.2. Products & services; 11.6.3. SWOT Analysis; 11.6.4. Recent Developments; 11.6.5. Strategies; 11.6.6. Financials (Based on Availability); 11.7. Larsen & Toubro Ltd. (India); 11.7.1. Overview; 11.7.2. Products & services; 11.7.3. SWOT Analysis; 11.7.4. Recent Developments; 11.7.5. Strategies; 11.7.6. Financials (Based on Availability); 11.8. Navantia S.A. (Spain); 11.8.1. Overview; 11.8.2. Products & services; 11.8.3. SWOT Analysis; 11.8.4. Recent Developments; 11.8.5. Strategies; 11.8.6. Financials (Based on Availability); 11.9. ThyssenKrupp Marine Systems GmbH (Germany); 11.9.1. Overview; 11.9.2. Products & services; 11.9.3. SWOT Analysis; 11.9.4. Recent Developments; 11.9.5. Strategies; 11.9.6. Financials (Based on Availability); 11.10. Damen Shipyards Group (Netherlands); 11.10.1. Overview; 11.10.2. Products & services; 11.10.3. SWOT Analysis; 11.10.4. Recent Developments; 11.10.5. Strategies; 11.10.6. Financials (Based on Availability)