Passenger Ferries Market Expansion in 2025 Fueled by Government Investments and AI Integration

Passenger Ferries Market Size, Demand and Trends Analysis

The passenger ferries market is anticipated to grow from USD 12.14 billion in 2025 to USD 16.41 billion by 2034, with a compound annual growth rate (CAGR) of 3.41% during the forecast period from 2025 to 2034. The increasing emphasis of people on adopting ferry for long-route transportation coupled with rise in number of startup companies dealing in ferry manufacturing is playing a prominent role in shaping the industrial landscape.

Moreover, rapid investment by government of several countries on developing the shipbuilding sector along with availability of several ferry booking platforms in Play Store and Apps Store has driven the market expansion. The integration of AI and IoT in passenger ferries to monitor vessel performance and optimizing routes is expected to create ample growth opportunities for the market players in the upcoming days.

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Introduction

The passenger ferries market is a crucial branch of the marine transport industry. This industry deals in development and distribution of ferries for passenger transportation. There are different types of ferries manufactured in this sector comprising of Ro-pax ferries, high-speed ferries, cruise ferries and some others. These ferries are powered by numerous propulsion technology consisting of diesel, electric, hybrid, LNG and some others. This market is expected to rise significantly with the growth of the shipbuilding industry around the globe.

Highlights of the Passenger Ferries Market

• North America generated highest revenue of the passenger ferries market.
• Europe is expected to rise with a significant CAGR during the forecast period.
• By ferry, the ro-pax (roll-on/roll-off passenger) ferries segment led the market.
• By ferry, the cruise ferries segment is expected to grow with a considerable CAGR during the forecast period.
• By capacity, the less than 150 segment dominated the market.
• By capacity, the more than 400 segment is expected to grow with a notable CAGR during the forecast period.
• By technology, the conventional diesel-powered ferries segment held the largest share of the market.
• By technology, the electric & hybrid ferries segment is expected to rise with a robust CAGR during the forecast period.

Key Metrics and Overview

What are the Trends of the Passenger Ferries Market in 2025?

The major trends in this market consists of partnerships, government investment and popularity of electric ferries.

Partnerships

• Numerous ferry manufacturers are partnering with finance companies for refinancing passenger ferries to enhance maritime transportation.

Government Investments

• Government of various countries such as Spain, Italy, France, China, the U.S. and some others are investing heavily for developing the maritime sector.

Popularity of Electric Ferries

• The popularity of electric ferries has grown rapidly in developed nations with an aim at reducing vehicular emission.

Ferry Insights

What Made the Ro-pax (Roll-on/Roll-off Passenger) Ferries Segment to Lead the Passenger Ferries Market in 2025?

The ro-pax (roll-on/roll-off passenger) ferries segment dominated the market. The increasing demand for ro-pax ferries to enhance passenger transportation has driven the market expansion. Additionally, the deployment of these ferries by fleet operators to improve traveling experience of long-route travelers is expected to foster the growth of the passenger ferries market.

The cruise ferries segment is expected to rise with a considerable CAGR during the forecast period. The growing use of cruise ferry for travelling long routes has boosted the market growth. Also, these ferries are integrated with several recreational amenities such as bars, cabins, restaurants, and entertainment options, thereby driving the growth of the passenger ferries market.

Capacity Insights

Why did the Less than 150 Segment Led the Passenger Ferries Market in 2025?

The less than 150 segment led the market. The growing demand for ferries with carrying capacity of less than 150 people for operating short route transportation has boosted the market expansion. Additionally, the rising investment by shipbuilding sector to develop small-sized passenger ferries coupled with integration of modern technologies in these ferries is contributing to the industry in a positive manner. Moreover, the increasing emphasis of ferry startups to manufacture electric ferries is expected to boost the growth of the passenger ferries market.

The more than 400 segment is expected to rise with a notable CAGR during the forecast period. The increasing demand for large ferries by international cruise companies to operate long-route transportation has driven the market growth. Also, the growing emphasis of electric ferry manufacturers to develop ferries with carrying capacity of more than 400 passengers is shaping the industry in a positive direction. Moreover, the deployment of large ferries in developed nations such as the U.S., Spain, Canada, Italy and some others is expected to propel the growth of the passenger ferries market.

Technology Insights

How Did the Conventional Diesel-powered Ferries Segment Dominated the Passenger Ferries Market in 2025?

The conventional diesel-powered ferries segment led the market. The growing demand for diesel-powered passenger ferries from fleet operators to enhance cross-border transporation has boosted the market expansion. Additionally, the increasing emphasis of engine manufacturers on developing powerful diesel-engines to cater the needs of passenger ferries is playing a vital role in shaping the industrial landscape. Moreover, numerous advantages of diesel-powered ferries such as lower emissions, reduced fuel consumption, improved maneuverability, enhanced passenger comfort and some others is expected to drive the growth of the passenger ferries market.

The electric & hybrid ferries segment is expected to expand with a robust CAGR during the forecast period. The rising adoption of electric ferries in developed nations such as the U.S., China, Spain and some others has boosted the market expansion. Additionally, numerous government initiatives aimed at reducing maritime emission coupled with rapid investment by battery companies for developing high-quality batteries is contributing to the industry in a positive manner. Moreover, partnerships among shipbuilding companies and cruise operators is expected to boost the growth of the passenger ferries market.

Geographical Insights

Why North America Dominated the Passenger Ferries Market in 2025?

North America held the largest share of the passenger ferries market. The increasing adoption of water transportation by the people of the U.S. and Canada has boosted the market expansion. Additionally, rapid investment by the government for strengthening the maritime sector coupled with rise in number of ferry booking platforms is contributing to the industry in a positive manner. Moreover, the presence of various market players such as BC Ferries, Washington State Ferries, Blount Boats Inc and some others is expected to drive the growth of the passenger ferries market in this region.

• In July 2024, Washington State Ferries announced to launch five new hybrid ferries. These hybrid ferries are designed for the consumer of the U.S.

Europe is expected to grow with a significant CAGR during the forecast period. The growing development in the maritime sector in different nations such as France, Spain, Germany, UK and some others has boosted the market expansion. Also, numerous government initiatives aimed at developing the shipbuilding industry coupled with rising emphasis on reducing maritime emission is playing a vital role in shaping the industrial landscape. Moreover, the presence of several market players such as Minoan Lines, Hijos De J Barreras SA, Fincantieri S.p.A., Brodosplit Shipyard, Baleària and some others is expected to propel the growth of the passenger ferries market in this region.

• In January 2025, Baleària launched a new range of electric ferries in Europe. These ferries are designed for operating the Spain-Morocco route.

Industry Leader Announcement

• In January 2025, Erik Derecktor, the New Construction Commercial Manager for Derecktor Shipyards made an announcement stating that, “Derecktor Shipyards is proud to have partnered with MJP and Chatham Area Transit on this groundbreaking project. Building these first-of-their-kind hybrid waterjet ferries allowed us to leverage our extensive experience in hybrid vessel construction and further solidify our position as a leader in this rapidly evolving field. We’re committed to pushing the boundaries of marine technology and delivering innovative solutions that prioritize sustainability.”

Competitive Landscape

The passenger ferries market is a rapidly developing industry with the presence of several dominating players. Some of the prominent companies in this industry consists of Irish Ferries, Jadrolinija, Minoan Lines, BC Ferries, Brittany Ferries, DFDS Seaways, P&O Ferries, Stena Line, Tallink Grupp, Washington State Ferries and some others. These companies are constantly engaged in manufacturing passenger ferries and adopting numerous strategies such as collaborations, launches, business expansions, joint ventures, acquisitions, partnerships and some others to maintain their dominance in this industry.

• In February 2025, Stena Line launched a new range of passenger ferries. This ferry is designed for the passengers of China.
• According to the annual report of DFDS, the revenue of the ferry division in 2023 was DKK 15.8 billion that increased to DKK 17 billion in 2024.

Recent Developments

• In June 2025, EV Maritime launched a new electric passenger ferry. This new ferry is launched for operating between the suburb of Half Moon Bay and downtown Auckland.
• In February 2025, M2M Ferries launched a roll-on, roll-off (Ro-Ro) passenger ferry. This ferry is capable of carrying around 620 passengers and 60 cars.
• In January 2025, Marine Jet Power (MJP) launched a hybrid passenger ferry in Savannah, Georgia. This new ferry is equipped with a 6.7L marine diesel engines (2) and HDS 200 ISG that delivers a maximum speed of around 11 knots.

Top Passenger Ferries Market Players

• BC Ferries
• Brittany Ferries
• Tallink Grupp
• Washington State Ferries
• DFDS Seaways
• Irish Ferries
• Jadrolinija
• Minoan Lines
• P&O Ferries
• Stena Line

Passenger Ferries Market Segments

By Ferry

• Ro-pax (roll-on/roll-off passenger) ferries
• High-speed ferries
• Cruise ferries
• Rotary Controllers & Touchpads

By Technology

• Visual Interface (Displays, AR HUDs)
• Acoustic Interface (Voice AI, Natural Language Processing)
• Mechanical Interface (Steering Controls, Knobs, Pedals)
• Ambient Interfaces (Lighting & Mood Sensing)

By Capacity

• Less than 150
• 150 - 400
• More than 400

By Technology

• Conventional diesel-powered ferries
• Electric & hybrid ferries
• LNG powered ferries

By Region

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific
• The Middle East and Africa