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Global Passenger Ferries Market Share, Size, Growth, Analysis, Forecast: By Product Type: Monohull, Multihull; By Application: Private, Commercial; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand and Price; Competitive Landscape; Key Trends and Developments in the Market; 2023-2028
Global Passenger Ferries Market Outlook
The global passenger ferries market is expected to grow at a CAGR of 4.20% during the forecast period of 2023-2028 due to the increase of low-cost airlines across the globe and the rising policies to promote tourism.
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Key Trends in the Market
Passenger ferries are known as a vessel that is employed for transporting passengers on a regular, frequent basis across the water. Ferries can range from small boats transporting passengers through a harbour, river, or lake, to large sea-going ships transporting passengers, trucks, and cars, among other heavy cargo covering longer distances overnight where sleeping accommodations are needed.
- Ferries provide accommodation for travellers and their luggage and have no limit for carrying luggage as compared to airways. This is expected to increase the passenger ferries market demand among passengers.
- The booming tourism industry, especially in the United States and Australia, is likely to aid the growth of the market.
- Ferries save passengers from traffic as travel time is shorter on waterways as compared to roadways. Going further, the rising consciousness among people for the environment is likely to positively influence passengers to prefer travelling through ferries as they are less prone to pollute the waterways. This is likely to augment the market growth across the globe over the forecast period.
Market Analysis
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Based on product type, the market can be segmented into monohull and multihull. On the basis of application, the market is categorised into private and commercial. The regional markets for the passenger ferries market can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East, and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global passenger ferries market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
- Meyer Werft Gmbh & Co. Kg
- Gladding-Hearn Shipbuilding, Duclos Corporation
- Blount Boats Inc
- Nichols Brothers Boat Brothers
- Fincantieri S.p.A.
- Greenbay Marine Pte Ltd
- Hijos de J. Barreras, S.A.
- Others
Market Share by Product Type
The multihull segment is holding substantial growth in the passenger ferries market share across the globe. A multihull is known as a ship or boat that has more than one hull. Catamarans that have two hulls are among the most common multihulls. The increasing preference for the reduction in power requirement, when compared to a monohull owing to the higher hull slenderness that is likely to be attained by spreading the vessel weight over two hulls, is expected to enhance the segment demand across the globe.
Going further, the enhanced hull slenderness significantly reduces the wave-making part of the vessel resistance, with an improved benefit as the vessel speed increases. This is further expected to escalate the segment growth over the coming years. With the growing worldwide tourism and increasing adoption of catamaran multihull ferries, the demand is expected to grow across the globe.
Market Share by Region
Geographically, the North American region accounts for a significant share of the passenger ferries market on account of the rising trend of ferries as a viable alternative transport among people, along with the growing demand for waterway public transport in the region. The United States is expected to hold the market growth in the coming years on account of the strong presence of market key players like Gladding-Hearn Shipbuilding Duclos Corporation and Nichols Brothers Boat Brothers, among others.
The rising improvement in fuel technologies is the key aspect of the market growth in passenger ferries. The increase in investment by various manufacturing companies to bring development and innovation to the shipping industry is expected to augment the market growth of passenger ferries in the region over the coming years.
Meanwhile, Europe is anticipated to hold substantial growth in the passenger ferries market on account of the increasing shift towards the use of passenger ferries for daily commuting as compared to other public transport as it is considered an effective mode of transportation.
Asia Pacific is expected to register substantial growth in the market share of passenger ferries due to the strong growth in the tourism industry, along with the rising shipping industry. The expansion of water transportation in countries like India and China, along with increasing investment by the government to improve maritime infrastructure, is expected to fuel market growth across the region.
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Competitive Landscape
MEYER WERFT GmbH & Co. KG was established in 1795, which is in its seventh generation of family ownership and is the most modern and leading shipyard across the globe. The company has achieved an outstanding reputation across the world over the recent decades for constructing as well as building special-purpose ships. It is especially well-known because of the construction of large, modern, and sophisticated cruise ships.
Gladding-Hearn Shipbuilding Duclos Corporation was founded in 1955 in the United States. The company built exceptional steel and aluminium commercial vessels. It deals in pilot boats, tugboats, passenger vessels, patrol boats, fire boats, research vessels, wind farm service vessels, and GSA products.
Blount Boats Inc. is a private company managed and held by the Blount family and was established in 1949. It is a full-service shipyard specializing in the construction, design, and repair of steel and aluminium vessels up to 220 feet. The company aims to build rugged, reliable commercial service vessels that are expected to offer consumers dependable service and lasting value.
Other players in the passenger ferries market include Nichols Brothers Boat Brothers, Fincantieri S.p.A., Greenbay Marine Pte Ltd, and Hijos de J. Barreras, S.A., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product Type |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Passenger Ferries Market Analysis
8.1 Key Industry Highlights
8.2 Global Passenger Ferries Historical Market (2018-2022)
8.3 Global Passenger Ferries Market Forecast (2023-2028)
8.4 Global Passenger Ferries Market by Product Type
8.4.1 Monohull
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Multihull
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.5 Global Passenger Ferries Market by Application
8.5.1 Private
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Commercial
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.6 Global Passenger Ferries Market by Region
8.6.1 North America
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2023)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Europe
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Asia Pacific
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2023)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Latin America
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2023)
8.6.4.3 Forecast Trend (2023-2028)
8.6.5 Middle East and Africa
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2018-2023)
8.6.5.3 Forecast Trend (2023-2028)
9 North America Passenger Ferries Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2023)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2023)
9.2.3 Forecast Trend (2023-2028)
10 Europe Passenger Ferries Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2023)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2023)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2023)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2023)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Passenger Ferries Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2023)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2023)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2023)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2023)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2023)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Passenger Ferries Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2023)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2023)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2023)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Passenger Ferries Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2023)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2023)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2023)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2023)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 MEYER WERFT GmbH & Co. KG
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Gladding-Hearn Shipbuilding, Duclos Corporation
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Blount Boats Inc
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Nichols Brothers Boat Brothers
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Fincantieri S.p.A.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Greenbay Marine Pte Ltd
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Hijos de J. Barreras, S.A.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Others
16 Key Trends and Developments in the Market
List of Figures and Tables
1. Global Passenger Ferries Market: Key Industry Highlights, 2018 and 2028
2. Global Passenger Ferries Historical Market: Breakup by Product Type (USD Million), 2018-2022
3. Global Passenger Ferries Market Forecast: Breakup by Product Type (USD Million), 2023-2028
4. Global Passenger Ferries Historical Market: Breakup by Application (USD Million), 2018-2022
5. Global Passenger Ferries Market Forecast: Breakup by Application (USD Million), 2023-2028
6. Global Passenger Ferries Historical Market: Breakup by Region (USD Million), 2018-2022
7. Global Passenger Ferries Market Forecast: Breakup by Region (USD Million), 2023-2028
8. North America Passenger Ferries Historical Market: Breakup by Country (USD Million), 2018-2022
9. North America Passenger Ferries Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Europe Passenger Ferries Historical Market: Breakup by Country (USD Million), 2018-2022
11. Europe Passenger Ferries Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Asia Pacific Passenger Ferries Historical Market: Breakup by Country (USD Million), 2018-2022
13. Asia Pacific Passenger Ferries Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Latin America Passenger Ferries Historical Market: Breakup by Country (USD Million), 2018-2022
15. Latin America Passenger Ferries Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Middle East and Africa Passenger Ferries Historical Market: Breakup by Country (USD Million), 2018-2022
17. Middle East and Africa Passenger Ferries Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Global Passenger Ferries Market Structure
Key Questions Answered in the Report
The market is assessed to grow at a CAGR of 4.20% during the forecast period of 2023-2028.
The major market drivers include the thriving tourism industry, along with the surging demand for a comfortable journey at a low cost among passengers.
The technological advancement to reduce the fuel consumption of ships acts as a key trend for the market.
The various product types of passenger ferries include monohull and multihull.
The numerous applications of passenger ferries include private and commercial.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The major players in the market are MEYER WERFT GmbH & Co. KG, Gladding-Hearn Shipbuilding, Duclos Corporation, Blount Boats Inc, Nichols Brothers Boat Brothers, Fincantieri S.p.A., Greenbay Marine Pte Ltd, and Hijos de J. Barreras, S.A., among others.
Ferries offer a unique experience, where passengers can move around freely while they travel.
Ferry operations are vehicle or passenger carriers and not carriers of commercial cargo, apart from rail cars.
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