Press release
Fishing Vessels Market Report 2024: Global Industry Trends and Technological Advancements
Fishing Vessels Market Report
The new report published by The Business Research Company, titled Fishing Vessels Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.
As per the report, the fishing vessels market size has grown strongly in recent years. It will grow from $1.43 billion in 2023 to $1.54 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The fishing vessels market size is expected to see strong growth in the next few years. It will grow to $2.13 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%.
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What Is Driving The Growth Of The Global Fishing Vessels Market?
Fishing Vessels Poised To Meet Surging Global Seafood Demand
The rise in seafood consumption is expected to propel the growth of fishing vessels going forward. Seafood refers to any sea life regarded as food by humans, including fish and shellfish. The increasing consumption of seafood is due to rising population and income growth, a shift toward seafood consumption, and aquaculture growth. Fishing vessels enable the efficient harvesting, preservation, and transportation of seafood from the ocean. They support sustainable fishing practices, contribute to the livelihoods of coastal communities, and facilitate access to remote fishing areas. For instance, in July 2024, according to The State of World Fisheries and Aquaculture (SOFIA) report by the Food and Agriculture Organization (FAO), a US-based specialized agency leading international efforts to defeat hunger, the global fisheries and aquaculture production reached 223.2 million tonnes in 2022, a 4.4% increase from the year 2020. Therefore, the rise in the popularity of global seafood is driving the growth of the fishing vessel market.
What Is The Key Trend In The Global Fishing Vessels Market?
Navanex Unveils Innovative Multi-Purpose Large Fishing Vessel For Versatile Operations
Major companies operating in the fishing vessels market are focused on developing innovative products, such as multipurpose fishing vessels capable of handling various fishing methods. A multipurpose large fishing vessel is a type of maritime craft designed to perform various fishing activities efficiently and effectively, equipped to deploy multiple types of fishing gear, such as trawl nets and longlines, without requiring significant modifications. For instance, in November 2023, NAVANEX, a Canada-based boat builders company, launched a new Multipurpose Large fishing vessel. This vessel is designed to be versatile and capable of fishing year-round, from snow crab in spring to redfish in autumn and winter. The new vessel features a refined hull shape and a recessed stabilizer fin system to enhance flow resistance. It is powered by a Yanmar propulsion engine equipped with a NOx exhaust gas treatment system that complies with environmental standards.
How Is The Global Fishing Vessels Market Segmented?
The fishing vessels market covered in this report is segmented -
1) By Type: Below 14 Feet, 14-16 Feet, Above 16 Feet
2) By Deck Type: Large Decks, Medium Decks, Small Decks
3) By Trawlers: Freezer Trawlers, Wet-Fish Trawlers, Side Trawlers, Outrigger Trawlers, Factory Trawlers, Stern Trawlers
4) By Application: Commercial, Recreational Fishing
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How Is The Competitive Landscape Of The Global Fishing Vessels Market?
Major companies operating in the fishing vessels market are HD Hyundai Heavy Industries Co. Ltd., Mitsubishi Heavy Industries Ltd., Rolls-Royce PLC, Fincantieri S.p.A., Wärtsilä Corporation, Damen Shipyards Group, Lerøy Havfisk AS, Vard Group, Austal Limited, Sanford Limited, Talley's Limited, Eastern Shipbuilding Group Inc., Groupe PIRIOU, Heinen & Hopman Engineering BV, Zamakona Yards, Nauta Shiprepair Yard, Master Boat Builders Inc., Karstensens Skibsvaerft A/S, Freire Shipyard, MacGregor
Contents Of The Global Fishing Vessels Market
1. Executive Summary
2. Fishing Vessels Market Report Structure
3. Fishing Vessels Market Trends And Strategies
4. Fishing Vessels Market - Macro Economic Scenario
5. Fishing Vessels Market Size And Growth
…..
27. Fishing Vessels Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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