Growing Passenger Ships Market Demand and Huge Future Opportunities by 2030 – Sioux City Catholic Globe

According to the Market Statsville Group (MSG), the global passenger ship market size is estimated to grow at a CAGR of 4.5% from 2022 to 2030. The passenger ship offers various additional benefits to the customers during the trip such as the catering area, the bathing area and recreational activities, among othersrs responsible for market growth. Additionally, the growth in the tourism industry will propel the growth of the market in the coming years across the globe.

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covid19 Global Passenger Ships Market Impact

COVID-19 has had a negative impact on market growth. In order to manage the spread of COVID-19, government-imposed lockdowns have resulted in the shutdown of the manufacturing process and the disruption of supply chains. This led to a lack of availability of raw materials to develop ships, and a lack of demand from end-user industries resulted in an ideal stock. This, in turn, has hampered market growth amid the pandemic.

Scope of the Global Passenger Vessel Market

The study categorizes the Passenger Carrier Vessel market on the basis of vessel type, size and application, regionally and globally.

By ship type (Sales, million USD, 20172030)

By Outlook Size (Sales, million USD, 20172030)

  • large ships
  • Mid-size vessels
  • Small and medium vessels
  • Small ships

By Outlook app (Sales, million USD, 20172030)

  • Adventure
  • Events
  • Travel
  • Others

Outlook by region (Sales, million USD, 20172030)

  • North America
  • Europe
    • Germany
    • Italy
    • France
    • UK
    • Spain
    • Poland
    • Russia
    • the Netherlands
    • Norway
    • Czech Republic
    • The rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Indonesia
    • Malaysia
    • Thailand
    • Singapore
    • Australia and New Zealand
    • Rest of Asia-Pacific
  • South America
    • Brazil
    • Argentina
    • Colombia
    • Rest of South America
  • The Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • South Africa
    • North Africa
    • Rest of MEA

The cruise ship segment is expected to account for the largest market share, by vessel type

On the basis of ship type segment, the global passenger ship market is divided into cruise ships, ferries, and ocean liners. The cruise ship accounts for most of the passenger ship market. Compared to others, cruise ships offer more amenities than others, which attracts potential customers and contributes to the growth of the segment over the forecast period.

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Asia Pacific represents the highest CAGR over the forecast period

On a regional basis, Asia-Pacific is estimated to show the highest CAGR growth due to the growth of emerging economies such as China and India. The Chinese coastline covers approximately 14,500 km and the Indian coastline of 7,500 km covers major ports and states. Additionally, growing disposable income, travel industry and others are contributing to the growth of the market in the region in the coming years.

Apart from growing, the cruise industry in the region will pave the way for market growth in the coming years. For example, according to data from Down to Earth, cruise tourism has grown exponentially, from 17.8 million passengers in 2009 to 28.5 million passengers in 2018. Additionally, the expansion of major markets in the region will propel the growth of the market in coming years.

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Key Market Players in Global Passenger Vessel Market

The Maritime Passenger Vessel Market exhibits strong competitive competition owing to the presence of various well-established market players such as:

  • Hyundai Heavy Industries (HHI)
  • Samsung Heavy Industries
  • Daewoo Shipbuilding
  • Mitsubishi Heavy Industry. ltd.
  • Hyundai Samho Heavy Industries
  • Hanjin Heavy Industries
  • Atlantic shipyards
  • State Shipbuilding Corporation of China
  • Oshima Shipbuilding Co.Ltd.
  • STX Shipbuilding

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