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Fishing Vessels Poised To Meet Surging Global Seafood Demand Driver: Leading Transformation in the Fishing Vessels Market in 2025
Fishing Vessels
The increase in seafood consumption is expected to fuel the growth of the fishing vessels market. Rising population and income, along with the growth of aquaculture, are driving the demand for seafood. Fishing vessels play a key role in efficient seafood harvesting, preservation, and transportation. For example, in July 2024, the FAO reported that global fisheries and aquaculture production reached 223.2 million tons in 2022, a 4.4% increase from 2020. This rise in seafood consumption is propelling the fishing vessel market.
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How will the growth rate of the fishing vessels market shape industry trends by 2034?
The fishing vessels market has grown strongly in recent years. It will increase from $1.54 billion in 2024 to $1.68 billion in 2025, at a CAGR of 8.7%. The growth is driven by the rising demand for fish in the hotel, restaurant, and cafe (HORECA) industry, growing global seafood consumption, environmental concerns, emphasis on sustainable fishing, and tightening government regulations.
The fishing vessels market is expected to grow to $2.31 billion by 2029, with a CAGR of 8.3%. Growth is driven by a focus on deep-sea fishing, rising production, new vessel launches, crew safety concerns, and competition among fishing companies. Trends include technological innovations, trawler design improvements, smart vessels, and advances in fishery technology.
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What trends are poised to drive the future success of the fishing vessels market?
Leading companies in the fishing vessels market are designing multipurpose fishing vessels that can efficiently handle various fishing methods. A multipurpose vessel is equipped to deploy various fishing gear without requiring major modifications. For example, in November 2023, NAVANEX, a Canada-based boat builder, launched a new multipurpose large fishing vessel that can operate year-round for different types of fishing, featuring a Yanmar propulsion engine and an environmentally compliant NOx exhaust treatment system.
Which primary segments of the fishing vessels market are driving growth and industry transformations?
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
Subsegments:
1) By Below 14 Feet: Small Motorized Fishing Boats, Canoes And Kayaks For Fishing, Manual Rowing Boats, Small Dinghies For Coastal Fishing, Personal Watercraft For Fishing
2) By 14-16 Feet: Small Powerboats For Fishing, Center Console Fishing Boats, Aluminum Fishing Vessels, Trailerable Fishing Boats, Family Fishing Boats
3) By Above 16 Feet: Large Motorized Fishing Vessels, Deep-Sea Fishing Boats, Trawlers And Gillnetters, Multi-Deck Fishing Vessels, Longline Fishing Boats, Commercial Fishing Boats
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Which regions are key players in the growth of the fishing vessels market?
North America was the largest region in the fishing vessels market in 2023. The regions covered in the fishing vessels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the influential players reshaping the fishing vessels market landscape?
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
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What Is Covered In The Fishing Vessels Global Market Report?
•Market Size Forecast: Examine the fishing vessels market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the fishing vessels market for a structured understanding.
•Key Players Overview: Analyze major players in the fishing vessels market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the fishing vessels market.
•Segment Contributions: Evaluate how different segments drive overall growth in the fishing vessels market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the fishing vessels market.
•Industry Challenges: Identify potential risks and obstacles affecting the fishing vessels market.
•Competitive Landscape: Review strategic developments in the fishing vessels market, including expansions, agreements, and new product launches.
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