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Global Passenger Ferries Market to reach USD 12.74 billion by the end of 2030

Global Passenger Ferries Market Size study & Forecast, by Booking Type (Private, Commercial), by Type (Multihull, Monohull) and Regional Analysis, 2023-2030

Product Code: ALTAWT-90762563
Publish Date: 20-01-2024
Page: 200

Global Passenger Ferries Market is valued at approximately USD 9.43 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 3.83% during the forecast period 2023-2030. Passenger ferries are water vessels designed primarily for the transportation of passengers across bodies of water, such as rivers, lakes, or seas. These ferries are generally smaller and operate on shorter routes, connecting two or more points that are relatively close to each other. The Passenger Ferries Market is expanding because of factors such as the rise in urbanization and the surge in demand for adventure tourism. Passenger Ferries are a common means of transportation for both daily commuters and tourists, providing a convenient and efficient way to travel between coastal areas or islands. As a result, the demand for Passenger Ferries has progressively increased in the international market during the forecast period 2023-2030.

Urbanization tends to bring about higher levels of road congestion. Passenger ferries can help alleviate this congestion by providing an alternative mode of transportation that avoids the limitations of road networks. According to the Statista, the global urbanization rate was 57% in 2022. North America has the highest level of urbanization, with over four fifths of the population living in urban areas. Furthermore, Urbanization can attract more tourists to a city, and passenger ferries can enhance the appeal of waterfront areas for recreational purposes. Another important factor that drives the Passenger Ferries Market is the increasing demand for adventure tourism. Adventure tourists often seek unique and less-traveled destinations. Passenger ferries respond by offering specialized routes that connect islands, remote coastal areas, or locations with specific adventure activities such as snorkeling, diving, or hiking. In addition, as per Statista, the global adventure tourism market accounts for approximately USD 288 billion in 2021 and is projected to grow steadily at roughly USD 2,824 billion by 2030. Moreover, increasing disposable income of people globally and rising government initiatives towards modernizing maritime infrastructure are anticipated to create lucrative growth opportunities for the market over the forecast period. However, high costs associated with Passenger Ferries and stringent regulatory compliance is going to impede overall market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Passenger Ferries Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the robust infrastructure, technological advancements, and a burgeoning focus on sustainable maritime transport in the region. Robust infrastructure can support the expansion of ferry networks, connecting more regions and optimizing routes. This expansion can cater to a broader range of passengers and facilitate easier access to various destinations. The region’s dominant performance is anticipated to propel the overall demand for Passenger Ferries. Furthermore, Asia Pacific is expected to grow fastest over the forecast period, owing to factors such as growth in the tourism industry, increasing disposable income, and rapid urbanization in the region. Higher disposable incomes can lead to increased spending on tourism and recreational activities. Passenger ferries, especially those serving tourist destinations, experience a surge in demand from individuals seeking unique travel experiences.

Major market player included in this report are:
Austal Limited
Brodosplit d.d.
Hijos De J Barreras SA
Mitsubishi Shipbuilding Co., Ltd
Gladding-Hearn Shipbuilding Duclos Corporation
Blount Boats Inc
Nichols Bros Boat Builders
Fincantieri S.p.A.
Greenbay Marine Technologies Pte Ltd
Samsung Heavy Industries Co. Ltd

Recent Developments in the Market:
Ø In May 2023, Austal Limited Vietnam launched a cutting-edge high-speed catamaran at its shipyard in Vung Tau for the Degage Group in French Polynesia. Boasting the latest catamaran design, this vessel presents operators with an aesthetically striking and versatile option, featuring numerous indoor and outdoor decks for passengers, along with a spacious cargo area capable of accommodating up to 16 tons for efficient high-speed inter-island transportation.

Global Passenger Ferries Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Booking Type, Type, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Booking Type

By Type

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Passenger Ferries Market, by Region, 2020-2030 (USD Billion)
1.2.2. Passenger Ferries Market, by Booking Type, 2020-2030 (USD Billion)
1.2.3. Passenger Ferries Market, by Type, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Passenger Ferries Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Passenger Ferries Market Dynamics
3.1. Passenger Ferries Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Rise in urbanization Surge in demand for adventure tourism
3.1.2. Market Challenges High cost associated with Passenger Ferries Stringent regulatory compliance
3.1.3. Market Opportunities Increasing disposable income of people globally Rising government initiatives towards modernize maritime infrastructure
Chapter 4. Global Passenger Ferries Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Passenger Ferries Market, by Booking Type
5.1. Market Snapshot
5.2. Global Passenger Ferries Market by Booking Type, Performance – Potential Analysis
5.3. Global Passenger Ferries Market Estimates & Forecasts by Booking Type 2020-2030 (USD Billion)
5.4. Passenger Ferries Market, Sub Segment Analysis
5.4.1. Private
5.4.2. Commercial
Chapter 6. Global Passenger Ferries Market, by Type
6.1. Market Snapshot
6.2. Global Passenger Ferries Market by Type, Performance – Potential Analysis
6.3. Global Passenger Ferries Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
6.4. Passenger Ferries Market, Sub Segment Analysis
6.4.1. Multihull
6.4.2. Monohull
Chapter 7. Global Passenger Ferries Market, Regional Analysis
7.1. Top Leading Countries
7.2. Top Emerging Countries
7.3. Passenger Ferries Market, Regional Market Snapshot
7.4. North America Passenger Ferries Market
7.4.1. U.S. Passenger Ferries Market Booking Type breakdown estimates & forecasts, 2020-2030 Type breakdown estimates & forecasts, 2020-2030
7.4.2. Canada Passenger Ferries Market
7.5. Europe Passenger Ferries Market Snapshot
7.5.1. U.K. Passenger Ferries Market
7.5.2. Germany Passenger Ferries Market
7.5.3. France Passenger Ferries Market
7.5.4. Spain Passenger Ferries Market
7.5.5. Italy Passenger Ferries Market
7.5.6. Rest of Europe Passenger Ferries Market
7.6. Asia-Pacific Passenger Ferries Market Snapshot
7.6.1. China Passenger Ferries Market
7.6.2. India Passenger Ferries Market
7.6.3. Japan Passenger Ferries Market
7.6.4. Australia Passenger Ferries Market
7.6.5. South Korea Passenger Ferries Market
7.6.6. Rest of Asia Pacific Passenger Ferries Market
7.7. Latin America Passenger Ferries Market Snapshot
7.7.1. Brazil Passenger Ferries Market
7.7.2. Mexico Passenger Ferries Market
7.8. Middle East & Africa Passenger Ferries Market
7.8.1. Saudi Arabia Passenger Ferries Market
7.8.2. South Africa Passenger Ferries Market
7.8.3. Rest of Middle East & Africa Passenger Ferries Market

Chapter 8. Competitive Intelligence
8.1. Key Company SWOT Analysis
8.1.1. Company 1
8.1.2. Company 2
8.1.3. Company 3
8.2. Top Market Strategies
8.3. Company Profiles
8.3.1. Austal Limited Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
8.3.2. Brodosplit d.d.
8.3.3. Hijos De J Barreras SA
8.3.4. Mitsubishi Shipbuilding Co., Ltd
8.3.5. Gladding-Hearn Shipbuilding Duclos Corporation
8.3.6. Blount Boats Inc
8.3.7. Nichols Bros Boat Builders
8.3.8. Fincantieri S.p.A.
8.3.9. Greenbay Marine Technologies Pte Ltd
8.3.10. Samsung Heavy Industries Co. Ltd
Chapter 9. Research Process
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Data Collection:
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Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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