India Marine Vessel Market (2025-2031) Outlook | Value, Size, Forecast, Industry, Revenue, Trends, Companies, Analysis, Growth & Share

India Marine Vessel Market Synopsis

The marine vessel industry in India recorded a revenue size of around US$ 1 billion. This figure is expected to grow at an annual rate of approximately 7% over the next five years reaching US$ 1.4 billion; thereby indicating increasing demand for vessels across different end-user industries including cargo carriers, and fishing boats, mainly due to ongoing developments related to infrastructure building activities such as port modernization programs and coastal development plans initiated by government authorities.

Market Drivers of the market

The India marine vessel market has been growing steadily due to factors such as increasing international trade, the rising demand for crude oil, and the development of the country`s maritime infrastructure. As India continues to strengthen its position as a global trade hub, the demand for marine vessels for cargo transportation has risen significantly. Additionally, with the growing need for energy resources, the demand for oil tankers and other specialized vessels has also contributed to the market`s expansion.

Challenges of the Market

In the India marine vessel market, economic fluctuations and changing government policies impact the demand for new vessels. The industry`s growth heavily relies on the overall economic climate and the shipping and trade activities in the region.

Covid-19 Impact on the Market

The marine vessel market faced a downturn due to the pandemic`s impact on the shipping and logistics industry. With reduced trade and travel restrictions, the demand for marine vessels declined, leading to a slowdown in the market.

Key Players of the Market

The India marine vessel market has expanded with the growth of maritime trade and transportation. Prominent players in this market include Cochin Shipyard Limited, Garden Reach Shipbuilders & Engineers Ltd., Goa Shipyard Limited, and Larsen & Toubro Ltd. (L&T) Shipbuilding.

Key Highlights of the Report:

• India Marine Vessel Market Outlook
• Market Size of India Marine Vessel Market, 2024
• Forecast of India Marine Vessel Market, 2031
• Historical Data and Forecast of India Marine Vessel Revenues & Volume for the Period 2021-2031
• India Marine Vessel Market Trend Evolution
• India Marine Vessel Market Drivers and Challenges
• India Marine Vessel Price Trends
• India Marine Vessel Porter's Five Forces
• India Marine Vessel Industry Life Cycle
• Historical Data and Forecast of India Marine Vessel Market Revenues & Volume By Type for the Period 2021-2031
• Historical Data and Forecast of India Marine Vessel Market Revenues & Volume By Commercial Vessel for the Period 2021-2031
• Historical Data and Forecast of India Marine Vessel Market Revenues & Volume By Passenger Ship for the Period 2021-2031
• Historical Data and Forecast of India Marine Vessel Market Revenues & Volume By LNG/LPG Carrier for the Period 2021-2031
• Historical Data and Forecast of India Marine Vessel Market Revenues & Volume By Special Purpose Vessel for the Period 2021-2031
• Historical Data and Forecast of India Marine Vessel Market Revenues & Volume By System for the Period 2021-2031
• Historical Data and Forecast of India Marine Vessel Market Revenues & Volume By Marine Engine for the Period 2021-2031
• Historical Data and Forecast of India Marine Vessel Market Revenues & Volume By Sensor System for the Period 2021-2031
• Historical Data and Forecast of India Marine Vessel Market Revenues & Volume By Control System for the Period 2021-2031
• Historical Data and Forecast of India Marine Vessel Market Revenues & Volume By Electrical System for the Period 2021-2031
• Historical Data and Forecast of India Marine Vessel Market Revenues & Volume By Auxiliary System for the Period 2021-2031
• Historical Data and Forecast of India Marine Vessel Market Revenues & Volume By Communication System for the Period 2021-2031
• Historical Data and Forecast of India Marine Vessel Market Revenues & Volume By End-use for the Period 2021-2031
• Historical Data and Forecast of India Marine Vessel Market Revenues & Volume By Original Equipment Manufacturer (OEM) for the Period 2021-2031
• Historical Data and Forecast of India Marine Vessel Market Revenues & Volume By Aftermarket for the Period 2021-2031
• India Marine Vessel Import Export Trade Statistics
• Market Opportunity Assessment By Type
• Market Opportunity Assessment By System
• Market Opportunity Assessment By End-use
• India Marine Vessel Top Companies Market Share
• India Marine Vessel Competitive Benchmarking By Technical and Operational Parameters
• India Marine Vessel Company Profiles
• India Marine Vessel Key Strategic Recommendations