Global Maritime Passenger Transport Market Analysis by Provider Type, Ship Type, Application, Region and segments forecast till 2033
Market Overview
The Global Maritime Passenger Transport Market valued at USD 1,100 million in 2022 is anticipated to reach a value of USD 1,340 million in 2033, growing at a CAGR of 3.8%.
Report Scope
Report Attributes | Description |
Market Forecast in 2022 | USD 1,100 Million |
Market Forecast in 2033 | USD 1,340 Million |
CAGR % 2023-2033 | 3.8% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Product Type, end-user industry, company share, company heatmap, company Capacity Technology Type capacity, growth factors and more |
Segments Covered | Provider Type, Ship Type, Application |
Regional Scope | North America, Europe, APAC, South America and Middle East and Africa |
Country Scope | U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Key Companies | 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, and DFDS |
Global Maritime Passenger Transport Market: Description
Maritime passenger transportation refers to an economic activity which involves the transportation of people via sea routes. These transportation services also conduct adventure tours and themed events other than just carrying passengers from one destination to another. The maritime transport includes a wide array of waterway vehicles including cruise ships, ferries, and boat houses, among others. Various countries across the globe are focusing onto strengthening their water transportation industry so as to reduce emission levels while enhancing leisure and tourism activities. The increasing disposable income of the masses along with widespread evolution in the tourism sector are the primary factors augmenting the outlook of this marketplace. Furthermore, favorable initiatives take by various governments to strengthen the marine transportation industry is creating lucrative opportunities for the industry vertical to prosper. Also, surging R&D activities in the field along with widespread technological advancements in the maritime sector is adding traction to the development of this market.
Moreover, the wide array of advantages offered by maritime transportation systems including versatility and flexibility is bolstering the growth of this industry vertical. Additionally, maritime transportation vehicles are eco-friendly in nature since they ensure reduced GHG emissions. This in turn is escalating the demand for water transportation systems across the globe. Besides, rising environmental cognizance of the masses coupled with stringent emission regulations across various nations are positively swaying the dynamics of this business sphere.
On the contrary, maritime transportation systems are costlier in nature and hence cannot be afforded by all sections of the society. This is one of the pivotal factors hindering the remuneration scope of this market. Also, the emergence of the COVID-19 pandemic took a toll on the progression of this industry. The rigid containment measures imposed by various governments to curb the spread of coronavirus brought the tourism industry to a complete halt. This further reduced the demand for maritime passenger transportation, leading to the suspension of all major cruise lines operating across the globe.
With widespread economic developments across major economies, there has been a prompt increase in the disposable income of the masses. Maritime passenger transportation in the form of cruise ships is generally expensive in nature and hence can be afforded only by the individuals with high income. This in turn is adding traction to the development of this marketplace. Water transportation systems offer a wide array of benefits including reduced emission levels, flexibility, and travelling comfort for passengers, among others. Most of the waterway vehicles are equipped with the ability to carry a large number of passengers at one go. These factors are creating robust growth prospects for the industry development.
Global Maritime Passenger Transport Market- Segmental Analysis:
Provider Type Insights
The private companies segment is poised to amass notable gains over the stipulated timeline. This is credited to the fact that private maritime transport companies are powered with enough budget to conduct luxurious cruise events for their passengers.
Ship Type Insights
The cruise ships segment is reckoned to garner significant gains over the estimated timeline due to the rising disposable income of the masses.
Application Insights
The adventure segment is expected to grow considerably over the assessment timeframe owing to the booming adventure tourism sector coupled with prompt rise in the purchasing power of individuals.
Regional Insights
Considering the geographical frame of reference, the business sphere is classified into North America, Middle East & Africa, Europe, Asia Pacific, and Latin America. Among these, North America is projected to account for a substantial revenue share over the forecast duration of 2023-2033. This is attributable to the booming tourism industry, rising per capita income of the masses, and growing R&D activities in the field.
Competitive Analysis
The prominent players characterizing the competitive terrain of this industry vertical are 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, and DFDS.
Global Maritime Passenger Transport Market- Segmental Analysis
By Provider Type
• Government
• Public Companies
• Private Companies
By Ship Type
• Cruise Ships
• Ferries
• Ocean Liners
By Application
• Adventure
• Events
• Travel
• Others
Why to buy this Report?
The report provides quantitative and qualitative aspect for Global Maritime Passenger Transport Market in terms of value and volume, along with supporting market trends, challenges, restraints.
The report provides an in depth analysis from both Technology and consumption point of view at the regional and country level. Key Factors considered within the report scope are Technology Type capacity by countries/regions, average End user, consumption ratio, revenue earned and gross margin.
The report provides competitive analysis of around 30-50 companies operated in Global Maritime Passenger Transport Market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:
• Business Model
• Technology, Capacity, Revenue, Sales, Gross Margin
• Key Business Strategy
• SWOT Analysis
In terms of competitive landscape, the report provides distinctive factors that would help the Card Technology Vehicle Type in taking a key decision within the business:
• Company Share Analysis from 2020-2022
• Company Analysis by Revenue and Sales
• Company Technology Type Capacity, Gross Margin
• Company Share Analysis by Technology Type/ Technology Vehicle Type
• Company Share Analysis by Technology Type/Specification
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Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
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