Global Passenger Ferries Market By Product Type (Monohull, Multihull), By End-User (Commercial (Cruise Ship, Car Ferry, Cargo Vessel, Others), Personal (Motor Yacht, Motor Mega-Yacht)), By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2021-2031

Passenger volumes have been increasing significantly across the globe is boosting the projected revenue growth of the Global Passenger Ferries Market.

Market.US announces the publication of its most recently generated research report titled, “Global Passenger Ferries Market by Product Type (Monohull, Multihull), by End-User (Commercial (Cruise Ship, Car Ferry, Cargo Vessel, Others), Personal( Motor Yacht, Motor Mega-Yacht)), and by Region – Global Forecast to 2030”, which offers a holistic view of the Global Passenger Ferries Market through systematic segmentation that covers every aspect of the target market.

The Global Passenger Ferries Market is projected to be US$ 55,508.5 Mn in 2021 to reach US$ 72,480.9 Mn by 2030 at a CAGR of 3.0%.

A passenger ferry is a sort of boat or ship that transports passengers and/or products across large or small bodies of water, such as rivers or creeks. In some countries with water bodies, ferries are an ideal part of the public transportation system. A ferry provides commuters and travelers with transit options, and one of the principal advantages is that it saves the capital expenditures associated with bridge building and maintenance.

The expanding number of passengers throughout the world, as well as a growing desire for water travel due to increased road congestion, are likely to have a substantial impact on the worldwide passenger ferries market’s revenue growth. Additionally, growing government backing, as well as financial funding in numerous countries, for the scrapping of old ferries and the rebuilding of new ones, are predicted to boost the global market’s revenue growth.

Global Passenger Ferries Market Revenue (US$ Mn), 2021–2030

Passenger volumes have increased dramatically around the world in recent years, and this is a major element driving the worldwide passenger ferries market’s predicted revenue growth. In addition, passenger volumes in Asia Pacific countries are gradually expanding. Ferries have been steadily gaining popularity and choice in various countries over other traditional modes of transportation. This is due to the fact that they are cost-effective, burn less fuel than cars, let travelers avoid traffic jams, and allow them to save a significant amount of time compared to driving to the same destination point.

Implementation of severe laws for safety and security, various environmental concerns, and emissions are all issues that could limit the market’s revenue growth to some level. Furthermore, passenger ferry rules governing vessel design, construction, frequent repairs, operations, personnel, and regular inspections over the duration of a vessel’s life are variables that may limit the target market’s revenue growth.

The development of technologically advanced passenger ferries to address concerns about SOx emission control, as well as the growing demand for energy-efficient boats, are likely to provide attractive growth possibilities for global passenger ferries market competitors.

The adoption of efficient alternative fuel sources such as LNG fuel over conventional Heavy Fuel Oil (HFO) fuels, which contain a higher quantity of sulphur, is a prominent trend in the global passenger ferries business. Over the projection period, this tendency is expected to gain traction, boosting market growth in the process.

Global Passenger Ferries Market Attractiveness Analysis by Product Type, 2014–2030

On the basis of region, the markets in Europe are estimated to account for the major revenue share of this global sector, and is projected to continue doing so in the years to come. Various ferry services have been integrated in urban areas of cities/countries in this region in conjunction with land-based public transportation, ensuring that passengers can easily reach their destinations without the need for private transportation.

In addition, in cities with waterfront areas, passenger ferries are an effective mode of transportation, thereby easing-up congestion on limited road networks. These are some of the major factors leading to an increase in the adoption of passenger ferries in countries of this region, in turn, this is expected to fuel projected revenue growth for the passenger ferries market of Europe over the forecast period.

The research report on the global passenger ferries market includes profiles of some of the major companies such as – MEYER WERFT GmbH & Co. KG (Meyer Turku Oy), Grand Large Yatching SAS (Alumarine Shipyard SAS), Chantiers Allais, Fincantieri S.p.A., The Italian Sea Group (Nuovi Cantieri Apuania– REFIT), Remontowa Holding (Remontowa Shipbuilding S.A.), and Uusikaupunki Workboat Oy (Uki Workboat), among others.

Global Passenger Ferries Market Segmentation Based on Product Type, End User, and Region

Based on Product Type:

• Monohull
• Multihull

Based on End-User:

• Commercial
  • Cruise Ship
  • Car Ferry
  • Cargo Vessel
  • Others
• Personal
  • Motor Yacht
  • Motor Mega-Yacht

Based on Key Players:

• MEYER WERFT GmbH & Co. KG (Meyer Turku Oy)
• Grand Large Yatching SAS (Alumarine Shipyard SAS)
• Chantiers Allais
• Fincantieri S.p.A.
• The Italian Sea Group (Nuovi Cantieri Apuania– REFIT)
• Remontowa Holding (Remontowa Shipbuilding S.A.)
• Uusikaupunki Workboat Oy (Uki Workboat)
• others.

Based on Region:

• North America
• Europe
• Asia Pacific
• South America
• MEA

For the Passenger Ferries Market research study, the following years have been considered to estimate the market size: