Middle East & Africa Marine Vessel Market Forecast to 2030 – COVID-19 Impact and Regional Analysis - by Type (Commercial Vessel, LNG/LPG, Passenger Ships, and Special Purpose Vessel) and System (Marine Engine, Control System, Communication System, and Others)
The Middle East & Africa marine vessel market is expected to grow from US$ 9,054.90 million in 2023 to US$ 13,244.79 million by 2030; it is estimated to grow at a CAGR of 5.6% from 2023 to 2030.
Market Introduction
Marine vessels are ships or large boats that travel on the oceans and deep waterways, carrying cargo or passengers. They are also used for specialized missions (such as defense and research) and fishing. The waterways of the Middle East and Africa facilitate the export of large volumes of natural gas and oil while bridging trade and commerce through the Suez Canal and the Red Sea.
The growing seaborne trade, including the import and export of goods in the Middle East and African countries further propels the Middle East & Africa marine vessel market growth. In addition, the growing cruise tourism, and the increasing number of cruise terminals in trigger the demand for marine vessels, such as cruises, yachts, and catamarans. As a result, various market players are working on expanding their product lines to cater to this growing tourism. In April 2023, Emirates, a Dubai-based airline, announced the launch of a new cruise line division—Emirates Sealine. Through this division, the company would offer an ultra-luxury cruise experience to customers. Further, the need for electric and hybrid ships is on the rise due to the increasing contribution of marine vessels to oceanic pollution and CO2 emissions, which creates significant opportunities for the growth of the Middle East & Africa marine vessel market.
Increasing sea trade in the Middle East & Africa is raising the demand for advanced maritime communication. The growing connectivity in the region with the mounting adoption of 5G is expected to aid in accurate maritime communication. The adoption of 5G will help improve speed and reliability, resulting in greater ocean safety, and enhanced guest and crew experience. Various ports in the Middle East & Africa are working on improving their maritime communication systems. For instance, in March 2023, AD Ports Group announced the implementation of a Vessel Traffic Management Information System (VTMIS) across its UAE operations to attain safety, security, and efficiency as per the highest international standards. The company announced that the new technology would be installed across Free Port, Khalifa Port, Zayed Port, Musaffah Port, and Al Dhafra Ports. The VTMIS would also assist the regional marine services team of AD Ports Group in making intelligent, rapid decisions based on real-time information provided by the system.
In addition, various market players in the region are adopting satellite communication for advanced maritime communication, which is further fueling the growth of the Middle East & Africa marine vessel market. In March 2022, Yahsat Government Solutions (YGS) signed a memorandum of understanding (MoU) with Al Seer Marine PJS to test line-fitting unmanned vessels with advanced Comms-on-the-Move (COTM) satellite communications solutions. The satellite communications solutions would support critical operations such as security, anti-piracy, anti-human trafficking, exclusive economic zone (EEZ) protection, and coastal patrol. Moreover, the COTM satellite communication solutions are likely to help Al Seer’s unmanned vessels to reduce the integration and timeline risks, ensure platforms’ structural and design integrity, warrant onboard combat systems and sensor compatibility, and optimize system integration costs. Thus, the growing adoption of advanced technologies to improve maritime communication would fuel the the Middle East & Africa marine vessel market growth during the forecast period.
Key Market Segments
Based on system, the Middle East & Africa marine vessel market analysis is segmented into marine engine, control system, communication system, and others. The marine engine segment dominated the Middle East & Africa marine vessel market in 2021. Marine engines are responsible for the propulsion of the vessel from one port to another. These engines can be petrol engines, diesel engines, or gasoline-powered engines. Diesel engines are mostly used in ships as they are less flammable, have a longer life span, and are energy efficient. Diesel fuel has a flashpoint between 52°C and 96°C, making it less flammable. Also, diesel fuel has more energy potential and is 20% more thermally efficient than gas engines. Due to all the above factors, the demand for diesel engines is high, further propelling the growth of the Middle East & Africa marine vessel market.
Major Sources and Companies Listed
Al Masaood LLC, VM Marine International Ltd, Al Seer Marine Supplies & Equipment Co, Seapride Marine Engineering Ltd, Nautic Africa (Pty) Ltd, Israel Shipyards Ltd, Marisol Qatar, ADNOC Drilling Co, QatarEnergy, Oman Oil Marketing Company SAOG, Abu Dhabi Ship Building PJSC, Mitsubishi Heavy Industries Ltd, and Saudi Arabian Oil Co are some of the key Middle East & Africa marine vessel market players. Various other companies are also introducing new technologies and offerings, helping the Middle East & Africa marine vessel market players to expand their business in terms of revenue.
Reasons to Buy Report
- To understand the Middle East & Africa marine vessel market landscape and identify market segments that are most likely to guarantee a strong return.
- To stay ahead of the race by comprehending the ever-changing competitive landscape for the Middle East & Africa marine vessel market.
- To efficiently plan M&A and partnership deals in the Middle East & Africa marine vessel market analysis by identifying market segments with the most promising probable sales.
- To make knowledgeable business decisions from the perceptive and comprehensive analysis of the market performance of various Middle East & Africa marine vessel market segments.
- To obtain revenue forecast for the market by various segments from 2023 to 2030 in US$.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Marine Vessel Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Marine Vessel Market- Key Market Dynamics
5.1 Market Drivers
5.1.1 Upsurge in Seaborne Trade
5.1.2 Increasing Cruise Tourism in Middle East
5.2 Market Restraints
5.2.1 Limitations Posed by Environmental Regulations
5.3 Market Opportunities
5.3.1 Rising Demand for Electric and Hybrid Vessels
5.4 Future Trends
5.4.1 Advancement in Maritime Communication Technology
5.5 Impact Analysis of Drivers and Restraints
6. Marine Vessel Market– Middle East & Africa Market Analysis
6.1 Marine Vessel Market Middle East & Africa Overview
6.2 Middle East & Africa Marine Vessel Market Forecast and Analysis
6.3 Market Positioning- Top Five Players
7. Marine Vessel Market Revenue and Forecast to 2030 –Type.
7.1 Overview
7.2 Marine Vessel Market, By Type (2022 and 2030)
7.3 Commercial Vessel
7.3.1 Overview
7.3.2 Commercial Vessel: Marine Vessel Market Revenue and Forecast To 2030 (US$ Million)
7.4 LPG/LNG
7.4.1 Overview
7.4.2 LPG/LNG: Marine Vessel Market Revenue and Forecast To 2030 (US$ Million)
7.5 Passenger Ships
7.5.1 Overview
7.5.2 Passenger Ships: Marine Vessel Market Revenue and Forecast To 2030 (US$ Million)
7.6 Special Commercial Vessel
7.6.1 Overview
7.6.2 Special Commercial Vessel: Marine Vessel Market Revenue and Forecast To 2030 (US$ Million)
8. Marine Vessel Market Revenue and Forecast to 2030 – System
8.1 Overview
8.2 Marine Vessel Market, By System (2022 and 2030)
8.3 Marine Engine
8.3.1 Overview
8.3.2 Marine Engine: Marine Vessel Market Revenue and Forecast To 2030 (US$ Million)
8.4 Control System
8.4.1 Overview
8.4.2 Control System: Marine Vessel Market Revenue and Forecast To 2030 (US$ Million)
8.5 Communication System
8.5.1 Overview
8.5.2 Communication System: Marine Vessel Market Revenue and Forecast To 2030 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: Marine Vessel Market Revenue and Forecast To 2030 (US$ Million)
9. Marine Vessel Market– Country Analysis
9.1.1.1 South Africa: Marine Vessel Market– Revenue and Forecast to 2030 (US$ Million)
9.1.1.1.1 South Africa: Marine Vessel Market, By Type
9.1.1.1.2 South Africa: Marine Vessel Market, By System
9.1.1.2 UAE: Marine Vessel Market– Revenue and Forecast to 2030 (US$ Million)
9.1.1.2.1 UAE: Marine Vessel Market, By Type
9.1.1.2.2 UAE: Marine Vessel Market, By System
9.1.1.3 Qatar: Marine Vessel Market– Revenue and Forecast to 2030 (US$ Million)
9.1.1.3.1 Qatar: Marine Vessel Market, By Type
9.1.1.3.2 Qatar: Marine Vessel Market, By System
9.1.1.4 Israel: Marine Vessel Market– Revenue and Forecast to 2030 (US$ Million)
9.1.1.4.1 Israel: Marine Vessel Market, By Type
9.1.1.4.2 Israel: Marine Vessel Market, By System
9.1.1.5 Oman: Marine Vessel Market– Revenue and Forecast to 2030 (US$ Million)
9.1.1.5.1 Oman: Marine Vessel Market, By Type
9.1.1.5.2 Oman: Marine Vessel Market, By System
9.1.1.6 Rest of MEA: Marine Vessel Market– Revenue and Forecast to 2030 (US$ Million)
9.1.1.6.1 Rest of MEA: Marine Vessel Market, By Type
9.1.1.6.2 Rest of MEA: Marine Vessel Market, By System
10. Impact of COVID-19 Pandemic on Marine Vessel Market
10.1 Overview
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 Product Development
11.4 Mergers & Acquisitions
12. Company Profiles
12.1 Al Masaood LLC
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 VM Marine International Ltd
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Al Seer Marine Supplies & Equipment Co
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Seapride Marine Engineering Ltd
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Nautic Africa (Pty) Ltd
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Comarco Group
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Israel Shipyards Ltd
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Marisol Qatar
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 ADNOC Drilling Co
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Oman Oil Marketing Company SAOG
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
12.11 Abu Dhabi Ship Building PJSC
12.11.1 Key Facts
12.11.2 Business Description
12.11.3 Products and Services
12.11.4 Financial Overview
12.11.5 SWOT Analysis
12.11.6 Key Developments
12.12 Mitsubishi Heavy Industries Ltd
12.12.1 Key Facts
12.12.2 Business Description
12.12.3 Products and Services
12.12.4 Financial Overview
12.12.5 SWOT Analysis
12.12.6 Key Developments
12.13 Saudi Arabian Oil Co
12.13.1 Key Facts
12.13.2 Business Description
12.13.3 Products and Services
12.13.4 Financial Overview
12.13.5 SWOT Analysis
12.13.6 Key Developments
12.14 Qatar Gas Transport Co Ltd (Nakilat)
12.14.1 Key Facts
12.14.2 Business Description
12.14.3 Products and Services
12.14.4 Financial Overview
12.14.5 SWOT Analysis
12.14.6 Key Developments
12.15 Qatargas Operating Co Ltd
12.15.1 Key Facts
12.15.2 Business Description
12.15.3 Products and Services
12.15.4 Financial Overview
12.15.5 SWOT Analysis
12.15.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. Middle East & Africa Marine Vessel Market, Revenue and Forecast, 2020–2030 (US$ Million)
Table 2. South Africa: Marine Vessel Market, By Type – Revenue and Forecast to 2030 (US$ Million)
Table 3. South Africa: Marine Vessel Market, By System – Revenue and Forecast to 2030 (US$ Million)
Table 4. UAE: Marine Vessel Market, By Type – Revenue and Forecast to 2030 (US$ Million)
Table 5. UAE: Marine Vessel Market, By System – Revenue and Forecast to 2030 (US$ Million)
Table 6. Qatar: Marine Vessel Market, By Type – Revenue and Forecast to 2030 (US$ Million)
Table 7. Qatar: Marine Vessel Market, By System – Revenue and Forecast to 2030 (US$ Million)
Table 8. Israel: Marine Vessel Market, By Type – Revenue and Forecast to 2030 (US$ Million)
Table 9. Israel: Marine Vessel Market, By System – Revenue and Forecast to 2030 (US$ Million)
Table 10. Oman: Marine Vessel Market, By Type – Revenue and Forecast to 2030 (US$ Million)
Table 11. Oman: Marine Vessel Market, By System – Revenue and Forecast to 2030 (US$ Million)
Table 12. Rest of MEA: Marine Vessel Market, By Type – Revenue and Forecast to 2030 (US$ Million)
Table 13. Rest of MEA: Marine Vessel Market, By System – Revenue and Forecast to 2030 (US$ Million)
Table 14. List of Abbreviation
LIST OF FIGURES
Figure 1. Marine Vessel Market Segmentation
Figure 2. Marine Vessel Market Segmentation – Geography
Figure 3. Marine Vessel Market Overview
Figure 4. Marine Vessel Market, By Type
Figure 5. Marine Vessel Market, By System
Figure 6. Marine Vessel Market, By Country
Figure 7. Middle East & Africa PEST Analysis
Figure 8. Marine Vessel Market Ecosystem Analysis
Figure 9. Expert Opinion
Figure 10. Marine Vessel Market: Impact Analysis of Drivers and Restraints
Figure 11. Geographic Overview of Marine Vessel Market
Figure 12. Middle East & Africa Marine Vessel Market, Forecast and Analysis (US$ Million)
Figure 13. Market Positioning- Top Five Players
Figure 14. Marine Vessel Market, By Type (2022 and 2030)
Figure 15. Commercial Vessel: Marine Vessel Market Revenue and Forecast to 2030 (US$ Million)
Figure 16. LPG/LNG: Marine Vessel Market Revenue and Forecast to 2030 (US$ Million)
Figure 17. Passenger Ships: Marine Vessel Market Revenue and Forecast to 2030 (US$ Million)
Figure 18. Special Commercial Vessel: Marine Vessel Market Revenue and Forecast to 2030 (US$ Million)
Figure 19. Marine Vessel Market, By System (2022 and 2030)
Figure 20. Marine Engine: Marine Vessel Market Revenue and Forecast to 2030 (US$ Million)
Figure 21. Control System: Marine Vessel Market Revenue and Forecast to 2030 (US$ Million)
Figure 22. Communication System: Marine Vessel Market Revenue and Forecast to 2030 (US$ Million)
Figure 23. Others: Marine Vessel Market Revenue and Forecast to 2030 (US$ Million)
Figure 24. South Africa: Marine Vessel Market– Revenue and Forecast to 2030 (US$ Million)
Figure 25. UAE: Marine Vessel Market– Revenue and Forecast to 2030 (US$ Million)
Figure 26. Qatar: Marine Vessel Market– Revenue and Forecast to 2030 (US$ Million)
Figure 27. Israel: Marine Vessel Market– Revenue and Forecast to 2030 (US$ Million)
Figure 28. Oman: Marine Vessel Market– Revenue and Forecast to 2030 (US$ Million)
Figure 29. Rest of MEA: Marine Vessel Market– Revenue and Forecast to 2030 (US$ Million)
Figure 30. Impact of COVID-19 Pandemic on Middle East & African Country Market
- Al Masaood LLC
- VM Marine International Ltd
- Al Seer Marine Supplies & Equipment Co
- Seapride Marine Engineering Ltd
- Nautic Africa (Pty) Ltd
- Comarco Group
- Israel Shipyards Ltd
- Marisol Qatar
- ADNOC Drilling Co
- Oman Oil Marketing Company SAOG
- Abu Dhabi Ship Building PJSC
- Mitsubishi Heavy Industries Ltd
- Saudi Arabian Oil Co
- Qatar Gas Transport Co Ltd ( Nakilat)
Qatargas Operating Co Ltd
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