Fishing Vessels Market Report 2025

This Fishing Vessels market report provides a comprehensive analysis of the market’s characteristics, size, and growth, including segmentation, regional and country-level breakdowns, competitive landscape, market shares, trends, and strategies. It also tracks historical and forecasted market growth across various geographies.

The fishing vessels market size has grown strongly in recent years. It will grow from $1.54 billion in 2024 to $1.68 billion in 2025 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to the growing demand for fish in the hotel, restaurant, and cafe (HORECA) industry, growth of global trade and seafood consumption, rising fuel costs and environmental concerns, growing emphasis on sustainable fishing, and increasing government regulations.

The fishing vessels market size is expected to see strong growth in the next few years. It will grow to $2.31 billion in 2029 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to increasing focus on deep-sea fishing, increasing fishing production, growing focus on deep-sea fishing, rising launch of new fishing vessels, rising concerns for ensuring the safety and well-being of the crew, and intense competition among fishing companies. Major trends in the forecast period include technological advancements, innovation in trawler design, smart vessel design, innovation for routes and correspondences, and advancements in fishery technologies.

The growing consumption of seafood is expected to drive the expansion of the fishing vessel market in the future. Seafood refers to marine life considered edible by humans, including fish and shellfish. The rising demand for seafood is driven by factors such as population growth, increased incomes, a shift toward seafood diets, and the growth of aquaculture. Fishing vessels play a crucial role in the efficient harvesting, preservation, and transportation of seafood from the ocean. They support sustainable fishing practices, contribute to the livelihoods of coastal communities, and provide access to remote fishing regions. For example, in July 2022, Statistics Iceland, a government agency in Iceland, reported that the total fish catch for June 2022 reached nearly 35,000 metric tons, marking a 14,000-ton increase compared to June 2021. Therefore, the rising popularity of seafood consumption is fueling the growth 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 August 2022, Daniels Trawlers, a US-based seafood company, acquired five double-dredge scallop vessels from Blue Harvest Scallop Vessels for an undisclosed amount. This acquisition aims to enhance Daniels Trawlers' scallop fleet. Blue Harvest Scallop Vessels is a US-based company specializing in the manufacture of fishing vessels.

Major companies operating in the fishing vessels market are 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 2024. The regions covered in the fishing vessels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the fishing vessels market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Fishing vessels are specialized boats or ships designed for catching fish and other seafood from various bodies of water, including oceans, seas, rivers, and lakes. They come in a range of sizes, designs, and technological configurations based on their intended fishing activities and operating conditions.

The main types of fishing vessels include those measuring below 14 feet, between 14-16 feet, and above 16 feet. Vessels below 14 feet are generally small boats used for inshore fishing. Fishing vessels also vary by deck type, including large decks, medium decks, and small decks. Various types of trawlers are used in the industry, including freezer trawlers, wet-fish trawlers, side trawlers, outrigger trawlers, factory trawlers, and stern trawlers. These vessels are employed in different applications such as commercial and recreational fishing.

The fishing vessels market research report is one of a series of new reports that provides fishing vessels market statistics, including fishing vessels industry global market size, regional shares, competitors with a fishing vessels market share, detailed fishing vessels market segments, market trends, and opportunities, and any further data you may need to thrive in the fishing vessel industry. This fishing vessels market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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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