According to Fortune Business Insights™, the global marine vessel market size was valued at USD 152.38 billion in 2023 and is projected to grow from USD 160.56 billion in 2024 to USD 247.96 billion by 2032, exhibiting a CAGR of 5.6% during the forecast period. Asia Pacific dominated the global market in 2023, accounting for 52.46% of the total market share.
Marine vessels play a vital role in global trade and transportation, serving as physical containers for goods and passengers across oceans. With increasing demand for seaborne trade, the marine vessel market is witnessing robust growth, supported by technological advancements, government initiatives, and a rise in indigenous shipbuilding efforts.
The marine vessel market is highly fragmented, with major players focusing on technological innovation, strategic partnerships, and mergers & acquisitions.
https://www.fortunebusinessinsights.com/marine-vessel-market-102699