Fishing Vessels Market Report 2026

The fishing vessels market size has grown strongly in recent years. It will grow from $1.66 billion in 2025 to $1.79 billion in 2026 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to marine food demand growth, expansion of coastal fisheries, traditional fishing practices, growth in seafood trade, government fishing subsidies.

The fishing vessels market size is expected to see strong growth in the next few years. It will grow to $2.43 billion in 2030 at a compound annual growth rate (CAGR) of 8%. The growth in the forecast period can be attributed to sustainable fishing regulations, adoption of smart fishing vessels, fuel efficiency requirements, fleet modernization programs, digital navigation systems. Major trends in the forecast period include modernization of commercial fishing fleets, adoption of fuel-efficient vessels, growth of large deck vessels, integration of navigation and monitoring systems, expansion of deep-sea fishing.

The increasing consumption of seafood is expected to drive the growth of the fishing vessels market in the coming years. Seafood includes all forms of marine life consumed by humans, such as fish and shellfish. Rising seafood consumption is supported by population growth, increasing incomes, shifting dietary preferences toward seafood, and the expansion of aquaculture. Fishing vessels play a vital role in the efficient harvesting, preservation, and transportation of seafood from marine environments. They also support sustainable fishing practices, sustain the livelihoods of coastal communities, and enable access to remote fishing grounds. For example, in July 2023, according to a report published by the Organisation for Economic Co-operation and Development (OECD), a France-based intergovernmental organization, global apparent food fish consumption is projected to reach 21.2 kg per capita by 2032, up from 20.4 kg. Therefore, the growing popularity of seafood worldwide is fueling the expansion of the fishing vessel market.

Key companies in the fishing vessels market are focusing on innovative designs, such as multipurpose fishing vessels capable of accommodating various fishing methods. Multipurpose large fishing vessels are maritime craft designed to handle multiple fishing activities efficiently, equipped to use different types of fishing gear, such as trawl nets and longlines, without extensive modifications. For instance, in November 2023, NAVANEX, a Canada-based boat building company, introduced a new Multipurpose Large fishing vessel. This vessel is designed for year-round fishing, capable of targeting species from snow crab in the spring to redfish in the autumn and winter. It features a refined hull shape, a recessed stabilizer fin system to improve flow resistance, and is powered by a Yanmar propulsion engine with a NOx exhaust gas treatment system to meet environmental standards.

In February 2024, Sealord Group Limited, a New Zealand-based seafood company, acquired Independent Fisheries Limited for an undisclosed amount. Through this acquisition, Sealord Group aims to expand its seafood production capacity and reinforce its supply chain by integrating Independent Fisheries’ assets and operations. Independent Fisheries Limited is a New Zealand-based seafood company specializing in fishing, processing, and supplying a range of sustainably sourced seafood products.

Major companies operating in the fishing vessels market report include HD Hyundai Heavy Industries Co. Ltd., Mitsubishi Heavy Industries Ltd., Rolls-Royce PLC, Fincantieri S.p.A., Wärtsilä Corporation, Damen Shipyards Group, Lerøy Havfisk AS, Vard Group, Austal Limited, Sanford Limited, Talley's Limited, Eastern Shipbuilding Group Inc., Groupe PIRIOU, Heinen & Hopman Engineering BV, Zamakona Yards, Nauta Shiprepair Yard, Master Boat Builders Inc., Karstensens Skibsvaerft A/S, Freire Shipyard, MacGregor.

North America was the largest region in the fishing vessels market in 2025. The regions covered in the fishing vessels market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the fishing vessels market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The fishing vessels market consists of sales of longliners, gillnetters, and dredgers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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