Fishing Vessels Global Market 2024 To Reach $2.13 Billion By 2028 At Rate Of 8.4%

The Business Research Company's Fishing Vessels Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, October 10, 2024 /EINPresswire.com/ -- The fishing vessels market has expanded strongly and is projected to grow from $1.43 billion in 2023 to $1.54 billion in 2024, with a CAGR of 8.0%. This growth is attributed to increasing demand for fish in the hotel, restaurant, and cafe (HORECA) industry, global trade and seafood consumption, rising fuel costs, environmental concerns, sustainable fishing practices, and growing government regulations.

What Is The Estimated Market Size Of The Global Fishing Vessels Market And Its Annual Growth Rate?

The fishing vessels market is expected to grow significantly, reaching $2.13 billion by 2028 at a CAGR of 8.4%. Growth factors include the increasing focus on deep-sea fishing, rising fishing production, new fishing vessel launches, concerns for crew safety, and intense competition among fishing companies. Key trends include technological advancements, innovations in trawler and smart vessel design, route optimization, and advancements in fishery technologies.

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Growth Driver of The Fishing Vessels Market

The increasing consumption of seafood is expected to drive growth in the fishing vessels market in the coming years. Seafood encompasses any sea life considered food by humans, including fish and shellfish. This rise in consumption is attributed to population growth, increased income levels, a shift towards seafood diets, and the expansion of aquaculture. Fishing vessels are essential for efficiently harvesting, preserving, and transporting seafood from the ocean. They support sustainable fishing practices, provide livelihoods for coastal communities, and enable access to remote fishing areas.

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Which Market Players Are Driving The Fishing Vessels Market Growth?

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

What Are The Emerging Trends Shaping The Fishing Vessels Market Size?

Companies in the fishing vessels market are focusing on the development of multipurpose fishing vessels. These innovative crafts are designed to handle diverse fishing methods efficiently, equipped to deploy various fishing gear without requiring significant modifications.

How Is The Global Fishing Vessels Market 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

Geographical Insights: North America Leading The Fishing Vessels Market

North America was the largest region in the 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.

Fishing Vessels Market Definition

Fishing vessels are specialized boats designed for catching fish and seafood from various water bodies. Their size, design, and technology vary significantly based on the type of fishing they support and the operating conditions.

Fishing Vessels Global Market Report 2024 from The Business Research Company covers the following information:

• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global fishing vessels market report covering trends, opportunities, strategies, and more

The Fishing Vessels Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on fishing vessels market size, drivers and trends, fishing vessels market major players, competitors' revenues, market positioning, and market growth across geographies. The market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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