The live fish carrier market is a specialized segment of the shipping industry that is involved in transporting live fish, such as salmon, trout, and other seafood, from aquaculture farms to processing plants or markets. Live fish carriers are specially designed vessels that are equipped with modern technology and systems to ensure the safe and humane transportation of live fish.
The live fish carrier market faces several challenges, including strict regulations regarding the transportation of live animals, high capital and operational costs, and concerns regarding the impact of aquaculture on the environment. However, the market is expected to continue to grow in the coming years, driven by the increasing demand for sustainable seafood and the need for efficient and reliable transportation solutions for live fish.
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Key Takeaways:
- Based on carrier type, salt fish carriers segment surpassed a valuation of US$ 2.1 Bn in 2021 and is likely to expand by 1.7X through 2032.
- By capacity, the 2500-5000 m3 live fish carriers segment is expected to create an absolute incremental opportunity of US$ 1.13 billion by the end of 2032.
- Asia Pacific live fish carriers market is poised to exhibit strong growth throughout the forecast period.
- With rapid expansion seafood industry, China live fish carriers market is set to grow at 6.2% CAGR during the forecast period, creating an absolute $ opportunity of US$ 547.9 Mn by 2032.
- Norway live fish carrier market is projected to surpass a valuation of US$ 514.3 Mn in 2022.
- Top 5 companies in live fish carrier cumulatively is expected to account for around 21.5% share in 2022.
Growth Drivers:
- Rising demand for seafood across the world will continue to boost the growth of live fish carriers market.
- Growing popularity of offshore fish farming is expected to push the demand for live fish carriers during the forecast period.
- Introduction of technologically advanced carriers with better fish handling systems and ecofriendly features will create lucrative opportunities for live fish carrier manufacturers during the forthcoming years.
Competitive Landscape:
Key players operating in the live fish carriers market are focused on developing new innovative solutions to cater to the changing end user demands. They have adopted various strategies such as new product launches, mergers, acquisitions, partnerships, collaborations, etc. to expand their global presence and gain a competitive edge in the live fish carrier market.
For instance,
- In December 2019 TERSAN launched NB1088 LNG powered live fish carrier with technologically advanced fish handling system.
- In 2021, Kongsberg Maritime signed a US$ 8.2m contract with Myklebust Verft to design and equip a new Live Fish Carrier (LFC) for Solvtrans, a leading live fish transportation company.
Key Companies Profiled by Fact.MR
- AquaShip
- Verksted AS
- kongsberg
- Adria Winch
- Macgregor
- Rolls Royce
- Peak Marine Tech
- Artic Group
- Havyard
- Macgregor
- Oliverdesign
- Palfingure Marine
- Saltship
Regional Analysis For Live Fish Carrier Market
- APAC (Japan, China, South Korea, Australia, India, and the rest of APAC; the rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
- Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
- North America (USA, Canada and Mexico)
- South America (Brazil, Chile, Argentina, Rest of South America)
- MEA (Saudi Arabia, United Arab Emirates, South Africa)