Maritime Passenger Transport Market to move forward at a double-digit CAGR by 2030

According to the Market Statsville Group (MSG), the global maritime passenger transport market is estimated to grow at a CAGR of 5.2% from 2022 to 2030. Maritime passenger transport services provide passenger transport from one destination to another, conduction of themed events, adventure tours, and others. Various factors such as increasing disposable income, the emerging tourism industry, government initiatives, and others drive the market's growth.

COVID-19 Impact on the Global Maritime Passenger Transport Market
The COVID-19 had a negative impact on the market due to restrictions on international travel, halted operations of the businesses, postponed events, and others. In mid of March 2020, all major cruise lines suspended their operations, voluntarily and temporarily, across their entire fleet. The major cause for the downtime was to avoid contagion of the COVID-19 between passengers and crew, additionally to the sudden drop in demand and operational instability. Thus, the COVID-19 had a negative impact on the market's growth. In addition, the maritime passenger transport industry restored its operations with ease in COVID-19 guidelines and proper monitoring of passengers.

Scope of the Global Maritime Passenger Transport Market
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The study categorizes the maritime passenger transport market based on the service provider, ship type, and application at the regional and global levels.

By Service Provider Type Outlook (Sales, USD Million, 2017-2030)
Government
Public Companies
Private Companies
By Ship Type Outlook (Sales, USD Million, 2017-2030)
Cruise Ships
Ferries
Ocean Liners
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By Application Outlook (Sales, USD Million, 2017-2030)
Adventure
Events
Travel
Others
By Region Outlook (Sales, USD Million, 2017-2030)
North America
US
Canada
Mexico
Europe
Germany
Italy
France
UK
Spain
Poland
Russia
the Netherlands
Norway
Czech Republic
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Indonesia
Malaysia
Thailand
Singapore
Australia & New Zealand
Rest of Asia Pacific
South America
Brazil
Argentina
Colombia
Rest of South America
The Middle East & Africa
Saudi Arabia
UAE
South Africa
Northern Africa
Rest of MEA
The Cruise Ship segment is projected to account for the largest market share, by Ship type

On the basis of the ship type segment, the global maritime passenger transport market is divided into cruise ships, ferries, and ocean liners. The cruise accounts for the major market share and will continue to gain more traction in forthcoming years across the globe. The growth is attributed to the amenities and packages offered by the cruise ships to lure potential customers and provide benefits to the market players in the long term. Cruise ships provide various recreational activities, theme-based events, and others, and such factors drive the segment's growth over the forecasting period.

Asia Pacific accounts for the highest CAGR during the forecast period

On a regional basis, the European maritime passenger transport market holds the highest market share in the year 2021. The growth is attributed to the presence of major market players or cruise ship industries across the region. Further, the rising disposable income coupled with the emerging and evolving cruise industry will allow the market's growth.

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However, the Asia-Pacific region is estimated to showcase the highest CAGR growth. The government initiatives to promote the cruise tourism industry will drive the market's growth.

Key Market Players in the Global Maritime Passenger Transport Market
The maritime passenger ship market has high competitive rivalry due to the presence of various well-established market players, such as:

Mitsui OSKLines
TUI GROUP
ANEK Lines
Minoan Lines SA
Attica Group
Carnival Corporation & plc
CalMac Ferries Limited Company
BORNHOLM LINE
Arctic Umiaq Line A/S
Brittany Ferries
DFDS
Recent Developments
In September 2021, IRCTRC launched India's first luxury cruise liner with Cordelia Cruises. This partnership will contribute to the growth of India's tourism industry.
In 2022, Valiant Lady by Virgin Voyages is all set to launch in 2022. It has a capacity of 2,770 and has 110 000 tonnages.
Key Issues Addressed
What is the market size by various segmentation of the maritime passenger transport by region and its respective countries?
What are the customer buying behavior, key takeaways, and Porter's 5 forces of the maritime passenger transport market?
What are the key opportunities and trends for manufacturers involved in the maritime passenger transport supply chain?
What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?
What and how regulations, schemes, patents, and policies are impacting the growth of the market?
What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
The market player positioning, top winning strategies by years, company product developments, and launches will be?
How has COVID-19 impacted the demand and sales of maritime passenger transport in the global market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25+ leading and prominent companies in the market.

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