Asia-Pacific Freezing Fishing Vessels Market, By System (Air Blast Freezing, Plate Freezing, Brine, IQF (Individual Quick Frozen)), Type (Commercial Fishing Vessels, Artisanal Fishing Vessels and Recreational Fishing Vessels), Vessel Length (Less Than 20 M, 21 M-30 M, Above 40 M and 31 M-40 M), Freezing Capacity (50 Tons to 150 Tons, 150 Tons to 300 Tons, Less Than 50 Tons and More Than 300 Tons)– Industry Trends and Forecast to 2029
Market Analysis and Size
A fishing vessel is a pontoon or ship used to catch fish in the ocean or on a lake or stream. A wide range of sorts of the fishing vessel is utilized in commercial, recreational fishing and artisanal. Agricultural resources and production are collected either in the wild or in controlled situations in aquaculture. The rising demand for seafood products increases the need for freezing fishing vessel solutions in the market. The Asia-Pacific freezing fishing vessels market is growing rapidly due to the health benefits of seafood and the demand for higher productivity. The companies are even launching new products to gain a larger market share.
Data Bridge Market Research analyses that the Asia-Pacific freezing fishing vessels market is expected to reach USD 12,453.95 million by 2029, at a CAGR of 5.1% during the forecast period. "air-blast freezing" accounts for the most prominent modules mode segment. The freezing fishing vessels market report also covers pricing analysis, patent analysis, and technological advancements in depth.
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020
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Quantitative Units
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USD Million
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Segments Covered
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By System (Air Blast Freezing, Plate Freezing, Brine, IQF (Individual Quick Frozen)), By Type (Commercial Fishing Vessels, Artisanal Fishing Vessels and Recreational Fishing Vessels), By Vessel Length (Less Than 20 M, 21 M-30 M, Above 40 M and 31 M-40 M), By Freezing Capacity (50 Tons to 150 Tons, 150 Tons to 300 Tons, Less Than 50 Tons and More Than 300 Tons)
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Countries Covered
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China, Japan, New Zealand and the Rest of the Asia-Pacific
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Market Players Covered
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Nordic Wildfish, Lerøy Havfisk, Nichols Bros Boat Builders, Master Boat Builders, Inc., Chantier de constructions navales Martinez, Astilleros Armon, Karstensens Skibsværft A/S, Green Yard Kleven, Ulstein Group ASA, HEINEN & HOPMAN, Marefsol B.V., Integrated Marine Systems, Inc., MMC FIRST PROCESS AS., Teknotherm, Damen Shipyards Group, Damen Shipyards Group, Wärtsilä, Kongsberg Gruppen ASA, Thoma-Sea Ship Builders, LLC, Rolls-Royce plc, MAURICE, ELLIOTT BAY DESIGN GROUP, Aresa Shipyard among others
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Market Definition
A fishing vessel is a pontoon or ship used to catch fish in the ocean or on a lake or stream. A wide range of sorts of the fishing vessel is utilized in commercial, recreational fishing and artisanal. Agricultural resources and production are collected either in the wild or in controlled situations in aquaculture. Both use a tremendous combination of distinctive to highly industrial innovations, incorporating vessels and equipment just as fishing apparatuses and methods. For catching fisheries and aquaculture, utilization of innovative technologies such as fishing vessels and engineered filaments, hydraulic equipment and fish handling is in the current trends of the fishing vessel market. Besides, fish reaping in a fishing vessel also incorporates gadgets for fish findings, satellite-based innovation for routes and correspondences, installed preservation and expanded utilization of detachable motors. The rising demand for fishing equipment in fishery technology is estimated to boost the global fishing vessel market.
Asia-Pacific Freezing Fishing Vessels Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail below:
- The rise in popularity of recreational activities
There has been a rise in recreational activities, such as fishing and boating, across the globe, creating a surge in demand for fishing boats. The advanced features of fishing boats, such as long shelf life, durability, customization, and environment-friendliness, further attract more customers. Therefore, the demand for the fishing boat is anticipated to further increase over the forecast period.
- Growth in awareness of the health benefits associated with seafood
An increase in demand for fishing globally and a rise in awareness about the health benefits of seafood, such as tuna, groundfish, and salmon, create more demand for the product. Outdoor participation, along with the need for seafood, has tremendously fueled the fishing boat market, and it is anticipated to drive further over the forecast period.
- Demand for sustainable development
A hindrance to the growth of this market could be the increasing demand for sustainable development. Fishing vessels often extract more from water bodies than can be replenished in a short span of time, eliminating stores of fish rapidly. But this effect can be buffered by bringing strict fishing and maritime regulations globally that ensure a steady supply of fish.
- The high initial cost of investment
Freezing fishing vessels market offers several beneficial factors, such as health benefits and increased capacity, with a high investment cost. The shipbuilding industry is a cost-intensive affair, and the project may span multiple years. This may restrain the growth of the Freezing Fishing Vessels Market.
Post COVID-19 Impact on Freezing Fishing Vessels Market
COVID-19 created a major impact on the freezing fishing vessels market. Almost every country has opted for the shutdown of every production facility except those dealing in producing the essential goods. The government has taken strict actions such as the shutdown of production and sale of non-essential goods, blocked international trade, and many more to prevent the spread of COVID-19. The only business dealing with this pandemic situation is the essential services allowed to open and run the processes.
The growth of the freezing fishing vessels market is rising due to the government policies to boost international trade post covid. Also, the benefits offered by freezing fishing vessels market for fishing market and seafood demand is rising the demand freezing fishing vessels market in the market. However, factors such as congestion associated with trade routes and trade restrictions between some nations are restraining the market growth. The shutdown of production facilities during the pandemic has had a significant impact on the market.
Manufacturers are making various strategic decisions to bounce back post-COVID-19. The players are conducting multiple research and development activities to improve the technology involved in the freezing fishing vessels market. With this, the companies will bring advanced and accurate solutions to the market. In addition, the government initiatives to boost international trade have led to the market's growth.
Recent Development
- In August 2021, Wärtsilä offered propulsion solutions for fishing vessels for shipbuilders Karstensens Shipyard. The key feature of this propulsion system was the NOx Reducer emissions reduction system, the reduction gear, controllable pitch propeller, and ProTouch propulsion remote control system. This solution launch helped the company to expand its market
- In June 2019, Rolls-Royce plc received the contract to construct a 70-metre long stern trawler for Engenes fiskeriselskap AS. The company offered ship design and extensive equipment such as power and propulsion, deck machinery, and electrical and automation systems. Through this company expanded its market and global presence
Asia-Pacific Freezing Fishing Vessels Market Scope
The freezing fishing vessels market is segmented based on system, type, vessel length and freezing capacity. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
By System
- Air Blast Freezing
- Plate Freezing
- Brine
- IQF (Individual Quick Frozen)
Based on the system, North America, Europe, Asia-Pacific & South America freezing fishing vessels market is segmented into air blast freezing, plate freezing, brine and IQF (Individual Quick Frozen).
By Type
- Commercial Fishing Vessels
- Artisanal Fishing Vessels
- Recreational Fishing Vessels
Based on type, North America, Europe, Asia-Pacific & South America freezing fishing vessels market has been segmented into commercial fishing vessels, artisanal fishing vessels and recreational fishing vessels.
By Vessel Length
- Less Than 20 M
- 21 M-30 M
- Above 40 M
- 31 M-40 M
Based on vessel length, North America, Europe, Asia-Pacific & South America freezing fishing vessels market has been segmented into Less Than 20 M, 21 M-30 M, Above 40 M and 31 M-40 M.
By Freezing Capacity
- 50 Tons to 150 Tons
- 150 Tons to 300 Tons
- Less Than 50 Tons
- More Than 300 Tons
Based on freezing capacity, North America, Europe, Asia-Pacific & South America freezing fishing vessels market has been segmented into 50 Tons to 150 Tons, 150 Tons to 300 Tons, Less Than 50 Tons and More Than 300 Tons.
Freezing Fishing Vessels Market Regional Analysis/Insights
The freezing fishing vessels market is analyzed, and market size insights and trends are provided by country, system, type, vessel length and freezing capacity, as referenced above.
The countries covered in the freezing fishing vessels market report are China, Japan, New Zealand, and Asia-Pacific.
China dominates the Asia-Pacific freezing fishing vessels market. China is likely to be the fastest-growing Asia-Pacific freezing fishing vessels market. The rising infrastructure, commercial, and industrial developments in emerging countries such as China and Japan are credited with the market's dominance. China dominates the Asia-Pacific region due to major companies' high manufacturing and outsourced manufacturing capacities leading to exports from the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technological trends, porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Freezing Fishing Vessels Market Share Analysis
The freezing fishing vessels market competitive landscape provides details about the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points are only related to the companies' focus on the freezing fishing vessels market.
Some of the major players operating in the freezing fishing vessels market are Nordic Wildfish, Lerøy Havfisk, Nichols Bros Boat Builders, Master Boat Builders, Inc., Chantier de constructions navales Martinez, Astilleros Armon, Karstensens Skibsværft A/S, Green Yard Kleven, Ulstein Group ASA, HEINEN & HOPMAN, Marefsol B.V., Integrated Marine Systems, Inc., MMC FIRST PROCESS AS., Teknotherm, Damen Shipyards Group, Damen Shipyards Group, Wärtsilä, Kongsberg Gruppen ASA, Thoma-Sea Ship Builders, LLC, Rolls-Royce plc, MAURICE, ELLIOTT BAY DESIGN GROUP, Aresa Shipyard.
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