The marine vessels market is projected to reach 133.63 billion US dollars by 2030, growing from 111.10 billion US dollars in 2024 at a compound annual growth rate of 3.1 percent. The global fleet is expected to increase from 61,671 units in 2024 to 70,237 units by 2030. This growth is driven by the expansion of global trade, increasing military naval investments, and rising demand for passenger and tourism vessels. Technological advancements and sustainability initiatives in the shipping industry further support market expansion.
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Key Market Drivers
Growth in Global Trade and Maritime Transport
More than 80 percent of global trade volume and 70 percent of trade value is transported by sea. The rising demand for dry bulk carriers, container ships, and tankers is driving the need for advanced and fuel-efficient vessels. As trade networks expand and consumer demand rises, the importance of efficient maritime logistics grows, creating new opportunities for shipbuilders and fleet operators.
Naval Modernization and Defense Investments
Governments across the world are increasing defense spending to modernize their naval fleets. Countries such as China, India, the United States, and Russia are investing in advanced military vessels, including frigates, submarines, and aircraft carriers. Frigates are expected to witness the fastest growth due to their cost-effectiveness, versatility, and operational efficiency. These investments aim to enhance maritime security and strengthen national defense capabilities.
Sustainability and Technological Advancements
The maritime industry is shifting toward sustainable and low-emission shipping solutions. The adoption of alternative fuels such as liquefied natural gas and green methanol is increasing due to regulatory pressures and corporate sustainability goals. Companies such as Cargill, Amazon, and Walmart are prioritizing environmentally friendly logistics, further accelerating the demand for sustainable marine vessels. Additionally, the integration of artificial intelligence and automation in ship navigation is improving operational efficiency and safety.
Market Challenges
High Capital Costs and Investment Barriers
The cost of shipbuilding has increased significantly, posing a challenge for new entrants in the market. Rising material costs and stringent environmental regulations have further increased the expenses associated with constructing and maintaining modern vessels. Since 2020, the prices of new vessels, including very large crude carriers, Suezmax, and Aframax, have increased by approximately 50 percent, marking the highest levels in 15 years.
Aging Fleet Management and Maintenance Costs
The global shipping industry is dealing with aging fleets, particularly in the tanker segment. The average age of crude and refined product tankers is expected to reach 13.2 years in 2024, the highest in over two decades. Older vessels require frequent maintenance and are subject to stricter environmental regulations, increasing operational costs. The introduction of new regulatory standards, such as the International Maritime Organization’s Energy Efficiency Existing Ship Index and Carbon Intensity Indicator, further complicates fleet management for shipowners.
Supply Chain Disruptions and Geopolitical Instability
Global conflicts and geopolitical tensions have disrupted supply chains and contributed to fluctuations in freight rates. The Russia-Ukraine conflict has significantly impacted the shipping industry, with some shipping routes experiencing freight rate increases of over 400 percent per day. Additionally, delays in shipbuilding and delivery times due to limited shipyard capacities have led to increased costs and operational inefficiencies.
Regional Market Insights
Asia Pacific as the Leading Market
The Asia Pacific region is projected to reach 68.94 billion US dollars by 2030, growing at a compound annual growth rate of 1.3 percent. China, South Korea, and Japan dominate the global shipbuilding industry, contributing to the region’s strong market position. China’s shipbuilding industry has witnessed significant growth, with new orders increasing by 50 percent between 2020 and 2023. China now holds 58.1 percent of the global market share in shipbuilding.
North America’s Focus on Military and Passenger Vessels
The North American market is driven by increasing investments in naval defense and the growing cruise tourism industry. The United States is investing in amphibious assault ships, destroyers, and aircraft carriers to strengthen its naval fleet. The cruise tourism industry is also experiencing a strong recovery, leading to increased demand for new passenger vessels.
Europe’s Emphasis on Green Shipping
European countries are prioritizing environmentally friendly shipping solutions. The European Union’s Green Deal is pushing for the adoption of low-emission ships powered by alternative fuels such as liquefied natural gas and hydrogen. Major European shipbuilders, including Fincantieri and Meyer Werft, are investing in sustainable ship designs to meet these regulatory requirements.
Recent Developments in the Marine Vessels Market
In December 2024, Samsung Heavy Industries secured a contract to build two very large ethane carriers for an Asian shipping company, with delivery scheduled by December 2027.
In September 2024, Huntington Ingalls Industries received a 9.6 billion US dollar contract to construct three San Antonio-class amphibious ships and modify the next America-class ship for the United States Navy.
In August 2024, Mitsubishi Heavy Industries secured a contract to build the first Aegis System Equipped Vessel for the Japan Maritime Self-Defense Force, with delivery expected in 2027.
In June 2024, Hanwha Ocean acquired Philly Shipyard in the United States for 100 million US dollars, expanding its presence in the North American market.
Key Players in the Marine Vessels Market
The marine vessels market is highly competitive, with key players focusing on technological innovation, sustainability, and fleet expansion. Leading companies in the market include:
Shipbuilding Corporation (China), FINCANTIERI S.p.A. (Italy), Huntington Ingalls Industries (US), HD Hyundai Heavy Industries Co., Ltd. (South Korea), Hanwha Ocean Co., Ltd. (South Korea), Samsung Heavy Industries Co., Ltd (South Korea), MITSUBISHI HEAVY INDUSTRIES, LTD. (Japan), Naval Group (France), Austal (Australia), and Mazagon Dock Shipbuilders Limited (India).
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Future Outlook and Opportunities
The marine vessels market is expected to witness sustained growth driven by increasing trade, defense spending, and technological advancements. The adoption of autonomous vessels, hybrid propulsion systems, and alternative fuels will shape the future of the industry. Companies investing in fleet expansion and modernization will benefit from emerging market opportunities. Despite challenges related to costs, aging fleets, and supply chain disruptions, the industry’s long-term outlook remains positive with a strong focus on efficiency, sustainability, and innovation.
The report covers an overview of the industry along with a detailed explanation that provides a lot of insight.
The report also analyzes the production as well as management technology in various end-user industries.
An in-depth study in some new and prominent industry trends, analysis of the competition and regional analysis that is very detailed have been included in the report of the Energy Efficiency Solution for Marine Vessels market for the review period of 2021 – 2027.Key PlayersThe report discusses the key players in the market who have provided a huge contribution in the growth of the Energy Efficiency Solution for Marine Vessels Market and dominate the market share.
The report provides insights into the strategies used by the key players in order to gain a strong base in the Energy Efficiency Solution for Marine Vessels Market.The major players covered in Energy Efficiency Solution for Marine Vessels Markets: ABB Group,Siemens,GE,Schneider Electric,Wärtsilä,MAN,KONGSBERG,Becker Marine Systems,China Classification Society,Bureau Veritas,KawasakiThe final report will add the analysis of the Impact of Covid-19 in this report Energy Efficiency Solution for Marine Vessels industry.Get a Sample Copy @ https://www.reportsandmarkets.com/sample-request/global-energy-efficiency-solution-for-marine-vessels-market-4339600?utm_source=prsync_medium=60Drivers and RisksThe report pays special attention to factors which contribute to the Energy Efficiency Solution for Marine Vessels Market growth also known as market drivers.
Any changes in these market dynamics directly affect the market growth hence the report provides a future insight into important factors that should be monitored and which could be leveraged by companies, vendors, distributors and all stakeholders alike to their advantage.
The report also provides an insight into the challenges faced by the market and the strategies used by existing players to overcome or avoid these risks.Regional overviewAs already mentioned, the report covers different regions such as North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa.
The Spirulina Market is expected to grow at a CAGR of 10.3% from 2020-2030, according to a new research report by Next Move Strategy ConsultingSpirulina is a blue green algae with high nutrient content, usually consumed by human & animals.
It is also used as a complementary diet ingredient in aquaculture & poultry feeds owing to the presence of high protein & vitamin content.According to the report, growth in health consciousness among people and the rising demand for dietary supplements are major factors driving the spirulina market growth.
Additionally, high penetration of spirulina in industries such as cosmetics and pharmaceutical owing to the advantageous properties such as anti-aging, anti-wrinkles and othersare bringing changes in market tends.However, low stability & poor sustainability of spirulina derived colours is expected to restrict the market growth.Moreover, growth in research & development activities followed by untapped market opportunities in developing economies are anticipated to provide numerous opportunities to the market players in the coming few years.On the basis of type, spirulina market share is segmented into Arthrospira Platensis and Arthrospira Maxima.
Arthrospira Maxima dominates the global Spirulina market and will be the dominant throughout the forecasted period.On the basis of application, the Spirulina market is categorised into Nutraceuticals, Food & Beverages, Cosmetics, Animal Feed, and Others.Food & Beverages segment is likely to develop significantly over the period of time owing to fast growing food & beverage industry.On the basis of drug formulation, the spirulina market is bifurcated into Powder, Tablet & Capsule, Liquid, and Granule & Gelling Agent.
Powder segment is expected to account for the major market share & dominate the market growth over the forecast period.North America dominates the spirulina market in terms of market size over the forecast period, owing to rising health consciousness among people.
Hansen Holding A/S, Algenol Biofuels Inc., Dongtai City Spirulina Bio-engineering Co., Ltd., Prolgae, Parry Neutraceuticals, Sensient Technologies Corporation, DDW Inc., Algatec and Naturex S.A.Browse key industry insights from the report, “Spirulina Market Size By Type (ArthrospiraPlatensis and Arthrospira Maxima) By Application (Nutraceuticals, Food & Beverages, Cosmetics, Animal Feed, and Others), By Drug Formulation (Powder, Tablet & Capsule, Liquid, and Granule & Gelling Agent)Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Kuwait), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020–2030” in detail along with the table of contents:Key Insights from the Spirulina Market Report:Asia Pacific is the fastest growing region in Spirulina market owing to the rising demand of spirulina from various industries such as cosmetics, food , healthcare and others and government initiatives to promote local spirulina production.The Food & Beverages segment dominates the market in terms of application and is expected to grow at a significant CAGR to maintain the lead till 2030.Some of the major players in the market are DIC Corporation, Cyanotech Corporation, Chr.
Non-Small Cell Lung Cancer Market is Expected to Increase With a CAGR of 10.7% for the Study Period of 2017-2030: DelveInsight (Albany, US) DelveInsight has introduced a new Market Insights, Epidemiology, and Market Forecast Report on "Non-Small Cell Lung Cancer Market Insights, Epidemiology, and Market Forecast-2030" to its portfolio.Key Highlights from report are:As per the DelveInsight analysis, the total incident cases of NSCLC in the 7MM were observed to be 484,726 cases in the year 2017.
These cases are expected to grow with a significant CAGR in the study period 2017–2030.There are different types of treatment available for NSCLC; however, mainly 10 types of standard treatment are used, which include Surgery, Radiation therapy, Chemotherapy, Targeted therapy, Immunotherapy, Laser therapy, Photodynamic therapy (PDT), Cryosurgery, Electrocautery, and Watchful waiting.The market size of NSCLC in the 7MM is expected to increase during study period.
According to the estimates, the highest contribution in the market size of NSCLC is from the United States followed by Japan, Germany, and the UK.One of the most exciting developments in lung cancer medicine is the introduction of targeted treatments.Request for free sample pages to know more on Non-Small Cell Lung Cancer Market Forecast NSCLC is the most common type of lung cancer accounted for approximately 85% of all lung cancers.
The disease epidemiology included in the report provides historical as well as forecasted Non-Small Cell Lung Cancer epidemiology, which is segmented as Total Incident cases of NSCLC patients, Total Incident cases of NSCLC patients by Histology, Total Diagnosed cases of NSCLC patients by Stages, Total NSCLC cases of patients by Genetic mutation/Biomarkers, and Total Treated Cases of NSCLC patients by Line of Therapies scenario of NSCLC in the 7MM.The total NSCLC incident cases in the 7MM were observed to be 484,726 cases in 2017.Click here to know more on Non-Small Cell Lung Cancer pipelineNSCLC report encloses the detailed analysis of Non-Small Cell Lung Cancer marketed drugs and late stage (Phase-III and Phase-II) pipeline drugs.
The therapies that are approved for the NSCLC treatment are Rozlytrek (Entrectinib), Imfinzi (Durvalumab), Opdivo (Nivolumab), Tecentriq (Atezolizumab), Keytruda (Pembrolizumab), Tafinlar (Dabrafenib) in combination with Mekinist (Trametinib), Tagrisso (osimertinib), Lorbrena/Lorviqua (Lorlatinib), Vizimpro (Dacomitinib), Alunbrig (Brigatinib), Alecensa (Alectinib), Vitrakvi (Larotrectinib), Portrazza (Necitumumab) along with many more.Drugs covered in the report are:-There are several key players robustly involved in developing potential products such asNazartinib (EGF816)Capmatinib (INC280)Tepmetko (tepotinib)MerestinibJNJ-61186372 (JNJ-6372)Vemurafenib Plus CobimetinibX-396 (Ensartinib)Tedopi (OSE2101)Selpercatinib (LY3527723/ LOXO-292)SAR408701Braftovi (encorafinib) + Mektovi (binimetinib)PADCEV (enfortumab vedotin/ASG-22ME)Pralsetinib (BLU-667)TAK-788: Canakinumab (ACZ885)Avelumab (Bavencio)Veliparib (ABT-888): Sitravatinib (MGCD516)TesevatinibRomiplostim: CabozantinibSym015AMG 510INCMGA00012 (MGA012)Libtayo (Cemiplimab)BavituximabM7824 (Bintrafusp alfa)And many others Key Players covered in the report are:-Novartis PharmaceuticalsMerck KGaAEli Lilly and CompanyJanssen Research & DevelopmentHoffmann-La RocheXcoveryBeyondSpring PharmaceuticalsOSE ImmunotherapeuticsSanofiPfizerAstellas PharmaSeattle GeneticsBlueprint Medicines CorporationTakedaAbbVieKadmon CorporationAmgenSymphogenRegeneron PharmaceuticalsPeregrine PharmaceuticalsAvid BioservicesGlaxoSmithKlineAnd many othersThe report includes provides in depth analysis historical and forecasted Market Share (%) Distribution of NSCLC, Market Share (%) Distribution of NSCLC by Mutations/Biomarkers, Total Market Size of PD-L1 NSCLC, Total Market Size of BRAF NSCLC, Total Market Size of c-Met, Total Market Size of EGFR, Total Market Size of ALK as well.The reasons for buying this report:The report proffers an overview of pathophysiology, various diagnostic approaches and NSCLC treatment algorithm, including detailed chapters for marketed products and emerging therapies.Historical and forecasted Non-Small Cell Lung Cancer epidemiology in 7MM covering the United States, EU5 (Germany, France, Italy, Spain, and the United Kingdom), and Japan from 2017-2030.Detailed historical and forecasted NSCLC market covering the United States, EU5 and Japan from 2017-2030.
Pipeline analysis across different stages of development (Phase III and Phase II), different emerging trends and comparative analysis of pipeline products with comprehensive clinical profiles, key cross-competition, launch date along with product development activities.
