Commercial Vessel Market Size - By Type (Container Ships, Passenger Vessels, Reefer Ships, Tankers, Fishing Vessels, Tugs, Bulk Carriers), Fuel Type (Liquefied Natural Gas (LNG), Diesel Oil, Heavy Fuel Oil), Application & Global Forecast, 2023

Description

List of Tables

Commercial Vessel Market size is poised to expand at over 3% from 2023 to 2032 driven by the surging international trade activities. The increasing number of shipments of goods and commodities across borders is escalating the need for efficient and reliable maritime transportation infrastructure. Consequently, multiple shipowners and operators are largely investing in new vessels to meet the growing demand for cargo transport.

Moreover, the dynamic landscape of the global trade is spurring several industry players to develop modern and technologically advanced commercial vessels and services to support the evolving demands of the international shipping sector, further augmenting the industry outlook. For instance, in April 2023, Maersk Tankers expanded its services with a new voyage management service for offering higher economic and environmental efficiency to ship operators and owners in day-to-day operations by capitalizing on its expertise in commercial vessel operations and fuel optimization.

The commercial vessel industry is segmented into type, fuel type, application, and region.

Based on type, the market value from the fishing vessels segment is anticipated to observe 3.8% CAGR from 2023-2032 attributed to the surging global demand for seafood. Rising innovations in navigation systems, sustainable fishing practices, and the increasing compliance with regulations are propelling the adoption of new fishing vessels. Additionally, the massive investments led by governments and fisheries worldwide for upgrading their fleets to ensure responsible fishing practices will fuel the segment growth.

Commercial vessel industry size from the new build application segment is anticipated to witness over 3% CAGR up to 2032. Increasing global trade, advancements in vessel design and technology, and the dire need for more efficient and environmentally friendly fleets are boosting the demand for new commercial vessels. Furthermore, shipowners and operators are heavily investing in modern, purpose-built vessels to enhance operational efficiency, comply with stringent environmental regulations, and meet the evolving industry standards, fostering the segment expansion. To cite an instance, in August 2023, the Pyxis Ocean set sail to test WindWings technology for bringing cutting-edge wind propulsion to commercial ships for the first time.

Regionally, the North America commercial vessel industry size is foreseen to depict 4.7% growth rate from 2023 to 2032 owing to the robust maritime trade and the increasing investments in advanced vessels. The extensive coastline, inland waterways, and strategic ports in the region are contributing to the demand for diverse commercial vessels. Moreover, the higher emphasis on modernizing fleets to meet the environmental regulations and enhance cargo transport capabilities will boost the regional industry expansion.

Product Code: 7183

Chapter 1 Methodology & Scope

1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation.
1.4 Data Sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources.
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Commercial vessel market 360 degree synopsis, 2018 - 2032
2.2 Business trends
2.3 Regional trends
2.4 Technology trends
2.5 End-use Trends

Chapter 3 Commercial Vessel Market Insights

3.1 Impact on COVID-19
3.2 Russia- Ukraine war impact
3.3 Industry ecosystem analysis
3.4 Vendor matrix
3.5 Profit margin analysis
3.6 Technology & innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
3.9 Regulatory landscape
3.10 Impact forces
- 3.10.1 Growth drivers
  - 3.10.1.1 Increasing demand for specialized vessels for offshore services
  - 3.10.1.2 Increasing demand for Energy
  - 3.10.1.3 Increasing cross-border trade activities
  - 3.10.1.4 Innovations in propulsion systems of the vessel
  - 3.10.1.5 Rise in investments for port infrastructure development
- 3.10.2 Industry pitfalls & challenges
  - 3.10.2.1 Strict regulatory compliance standards related to emissions
  - 3.10.2.2 High capital costs to design and maintain a commercial vessel
3.11 Growth potential analysis
3.12 Porter's analysis
3.13 PESTEL analysis

Chapter 4 Competitive Landscape, 2022

4.1 Introduction
4.2 Company market share, 2022
4.3 Competitive analysis of major market players, 2022
- 4.3.1 China Shipbuilding Industry Corporation (CSIC)
- 4.3.2 Daewoo Shipbuilding & Marine Engineering
- 4.3.3 Fincantieri
- 4.3.4 Guangzhou Shipyard International
- 4.3.5 Hyundai Heavy Industries
- 4.3.6 Mitsui O.S.K. Lines (MOL)
- 4.3.7 Samsung Heavy Industries
4.4 Competitive positioning matrix, 2022
4.5 Strategic outlook matrix, 2022

Chapter 5 Commercial Vessel Market, By Type (USD Millions)

5.1 Key trends, by technology.
5.2 Container Ships
5.3 Passenger Vessels
5.4 Reefer Ships
5.5 Tankers
5.6 Fishing Vessels
5.7 Tugs
5.8 Bulk Carriers
5.9 Others

Chapter 6 Commercial Vessel Market, By Fuel Type (USD Millions)

6.1 Key trends, by technology.
- 6.1.1 Liquefied Natural Gas (LNG)
- 6.1.2 Diesel Oil
- 6.1.3 Heavy Fuel Oil
- 6.1.4 Others

Chapter 7 Commercial Vessel Market, By Application (USD Millions)

7.1 Key trends, by end use
7.2 New Build
7.3 Repair and Maintenance

Chapter 8 Commercial Vessel Market, By Region

8.1 Key trends, by region
8.2 North America
- 8.2.1 U.S.
- 8.2.2 Canada
8.3 Europe
- 8.3.1 UK
- 8.3.2 Germany
- 8.3.3 France
- 8.3.4 Italy
- 8.3.5 Spain
- 8.3.6 Rest of Europe
8.4 Asia Pacific
- 8.4.1 China
- 8.4.2 India
- 8.4.3 Japan
- 8.4.4 South Korea
- 8.4.5 ANZ
- 8.4.6 Rest of Asia Pacific
8.5 Latin America
- 8.5.1 Brazil
- 8.5.2 Mexico
- 8.5.3 Rest of Latin America
8.6 MEA
- 8.6.1 GCC
- 8.6.2 South Africa
- 8.6.3 Rest of MEA

Chapter 9 Company Profiles

9.1 Bohai Heavy Industry
9.2 China Shipbuilding Industry Corporation (CSIC)
9.3 COSCO Shipping Heavy Industry
9.4 Daewoo Shipbuilding & Marine Engineering
9.5 Fincantieri
9.6 Guangzhou Shipyard International
9.7 Hudong-Zhonghua Shipbuilding
9.8 Hyundai Heavy Industries
9.9 Imabari Shipbuilding
9.10 Japan Marine United (JMU)
9.11 Jiangsu Hantong Shipbuilding
9.12 L&T Shipbuilding
9.13 Meyer Werft
9.14 Mitsui O.S.K. Lines (MOL)
9.15 New Times Shipbuilding
9.16 Samsung Heavy Industries
9.17 Shanghai Waigaoqiao Shipbuilding
9.18 STX Offshore & Shipbuilding
9.19 Yangzijiang Shipbuilding