The global marine vessel market size is set to gain momentum from the ongoing innovations in the shipping industry to enhance energy efficiency. Hence, companies are rapidly shifting towards eco-friendly hybrid propulsion systems to reduce cost and surge efficiency. This information is given by Fortune Business Insights™ in a report titled, “Marine Vessel Market, 2024-2032.” As per the report, the market stood at USD 152.38 billion in 2023. It is projected to grow from USD 160.56 billion in 2024 to USD 247.96 billion in 2032 at a CAGR of 5.6% during the forecast period.

Informational Source:

https://www.fortunebusinessinsights.com/marine-vessel-market-102699

Report Coverage:

Our analysts have conducted qualitative and quantitative research and a mixture of primary and secondary resources to gather information about this industry. They have taken data from press releases, paid databases, company journals, and other sources to offer a complete picture of the market. To collect information about the competitive landscape they have conducted interviews with renowned personalities.

A List of renowned marine vessel manufacturers operating in the global market:

• BAE Systems (U.K.)
• Mazagon Dock Shipbuilders Limited (India)
• Garden Reach Shipbuilders and Engineers (GRSE) (India)
• Hyundai Heavy Industries Co. Ltd (HHI) (South Korea)
• Hyundai Mipo Dockyard (South Korea)
• General Dynamics Corp NASSCO (U.S.)
• Larsen & Toubro Ltd. (India)
• Navantia (Spain)
• ThyssenKrupp Marine Systems (Germany)
• Damen Shipyards Group (Netherlands)

Segments:

Passenger Ship Segment Held 23% Share in 2020: Fortune Business Insights ™