"Market Intelligence for High-Geared Performance"

Passenger Ferries Market Size, Share & Industry Analysis, By Type (Monohull, Multihull), By Application Type (Private, Commercial) and Regional Forecast 2023-2030

Region : Global | Report ID: FBI103655 | Status : Ongoing

 

KEY MARKET INSIGHTS

A passenger ferry is a type of a boat or ship used for the passenger transportation purpose across inland waterways, seas and oceans. These ferries can be a significant part of the public transport system for the cities that are adjacent to the coastal areas or large water bodies, islands, or places having large number of canals and rivers. Globally, the tremendous rise in the population is one of the primary factors that is driving the growth of the global passenger ferries market in recent years. Many regions depend solely on tourism, and the passenger ferries are the integral part of their public transport system. Passenger ferries act as the important mode of transport between isolated places and also link various transport networks of different countries. Also, owing to the rising road accidents and traffic congestions, the people are inclining more towards the water transportation system for daily commuting.


Key Market Driver -

Growing adoption of high-tech, cost effective and cleaner passenger ferries is driving the growth of the market.

Key Market Restraint -

Stringency in emission standard may hamper the growth of the passenger ferries market in the forecast period.


Market Segmentation:


Globally, the passenegr ferries market is segmented by type, by application type, and by geographic coverage. By type, the market is further segmented into monohull and multihull. The multihull segment is anticipated to contribute a major share in the global passenger ferries market. The rise in the disposable income of people, increasing inclination towards water transportation and growth in the tourism industry are ultimately driving the growth of the multihull passenger ferries at a faster pace. Catamarans multihull ferries are widely used for tourism, sailing, fishing and racing purposes. These ferries consists of jet drivers that speeds up the boat. The capacity of the multihull ferries to sail at higher speed compared to monohull ferries is the main reason for the growing demand for multihull passenger ferries. The application type, is further divided into private and commercial type. The commercial segment holds the largest share of the global passenger ferries market and is expected to maintain its dominance over the forecast period. The growing tourism industry coupled with the low-cost transportation are the significant factors that are estimated to propel the growth of passenger ferries for commercial purposes.


Key Players:


Major players operating in the global passenger ferries market include MEYER WERFT GmbH & Co. KG, Grand Large Yatching SAS, Gladding-Hearn Shipbuilding, MITSUBISHI HEAVY INDUSTRIES, LTD., Duclos Corporation, Blount Boats, Inc., Nichols Brothers Boat Builders Inc., Chantiers Allais, Fincantieri S.p.A., Petróleos Mexicanos (Hijos De J. Barreras, S.A.), Greenbay Marine Pte Ltd., and LUNG TEH SHIPBUILDING CO., LTD. (LTS) among others.


Key Insights



  • New Advancements in passenger ferries

  • Number of Products, Key Countries, 2018

  • New Product Launches, Key Players


Regional Analysis:


Geographically, the passenger ferries market is segmented into North America, Europe, Asia Pacific, and the rest of the world. The North America holds the largest share of the global passenger ferries market owing to the increasing demand for waterway public transport, emerging trend of ferries as a viable alternative transport, and development in fuel technologies are the primary reasons for the growth in the passenger ferries market. The manufacturing companies are investing heavily to bring innovation and development in the shipping industry. The surge in the demand for passenger ferries is increasing owing to the wide range of features, technologically advanced systems, and rising inclination of people towards comfort and luxury.  Also, the US Department of Transportation has awarded $59 million for the development of the passenger ferry services, ferry boats and terminals.


Europe is also showing an exponential growth in the global passenger ferries market owing to the rapid shift towards the usage of passenger ferries for daily commuting over other public transport. In many countries of this region, passenger ferries have been linked with land based public transport, for the passengers to reach their destination conveniently. These major factors are increasing the adoption of passenger ferries in Europe and is expected to grow during the forecast period. Asia Pacific is projected to show a significant growth in the global passenger ferries market owing to the boom in the tourism industry, and development in the shipping industry. The Government of China and India are investing heavily to develop and expand the water transportation. These are the foremost reasons for the growth of the passenger ferries market in this region.


To gain extensive insights into the market, Request for Customization


Segmentation






















 ATTRIBUTE


  DETAILS

By Type




  • Monohull

  • Multihull



By Application Type




  • Private

  • Commercial



By Geography




  • North America (USA, Canada, and Mexico)

  • Europe (Germany, France, U.K., and Rest of Europe)

  • Asia Pacific (Japan, China, India, South Korea, and Rest of Asia Pacific)

  • Rest of the World



Key Industry Developments:



  • December 2019: Mitsubishi Shipbuilding Company signed Co., Ltd., signed a contract with Mitsui O.S.K Lines (MOL) for the first ever LNG fuelled ferries to be built in Japan. The two vessels are built at the Shimonoseki Shipyard & Machinery Works, to be successively completed and handover by the end of 2022 to early 2023.

  • March 2020: Ropax Jetty a roll on roll off cum passenger service ferry has been launched between Mumbai and Alibaug. The jetty has a capacity to carry 200 cars and around 1000 passengers on a single trip.


  • Ongoing
  • 2022
  • 2019-2021

    CHOOSE LICENSE TYPE

  • $4850
    $5850
    $6850

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Automotive & Transportation Clients

Hyundai
Toshiba
Hitachi
Asahi
Deloitee

Client Testimonials

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- UGlobal hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X