Global RO-RO Vessels Market

Global RO-RO Vessels Market Size, Share, Growth Analysis, By Route Type(Short Sea Routes, Deep Sea Routes), By Vessels Type(Pure Car Carriers, Truck Carriers) - Industry Forecast 2023-2030


Report ID: SQMIG20R2032 | Region: Global | Published Date: February, 2024 | Pages: 202 | Tables: 66 | Figures: 77

Global RO-RO Vessels Market Insights

RO-RO Vessels Market size was valued at USD 23.56 billion in 2021 and is poised to grow from USD 24.79 billion in 2022 to USD 35.34 billion by 2030, at a CAGR of 5.2%during the forecast period (2023-2030).

RO-RO vessels are specifically designed with ramps or doors that allow wheeled cargo to be rolled on and off the vessel, making the loading and unloading process more efficient and convenient. For instance, in June 2021, Wallenius Marine, a Swedish shipowner, received a EUR 25 million (approximately USD 30 million) investment from the Swedish Energy Agency to develop a wind-powered RO-RO vessel called the "Oceanbird". The vessel is designed to reduce emissions by utilizing wind energy as the main propulsion source.

The purpose of the global RO-RO vessels market is to provide transportation solutions for wheeled cargo, catering to various industries and sectors such as automotive, construction, agriculture, and other heavy equipment industries. RO-RO vessels offer a reliable and cost-effective mode of transportation for wheeled cargo, allowing for efficient movement of goods across different regions, countries, and continents. For instance, in May 2021, Norwegian maritime technology company Kongsberg Maritime announced a partnership with Wilhelmsen, a leading global shipping company, to develop autonomous and zero-emission RO-RO vessels. The partnership received funding of NOK 200 million (approximately USD 24 million) from the Norwegian government.

US RO-RO Vessels Market is poised to grow at sustainable CAGR for the next forecast year.

Market snapshot - 2023-2030

Global Market Size

USD 23.56 billion

Largest Segment

Short Sea Routes

Fastest Growth

Short Sea Routes

Growth Rate

5.2% CAGR

Global RO-RO Vessels Market 2022-2030 ($ Bn)
Country Share for Asia Pacific Region- 2022 (%)
Global RO-RO Vessels Market Size By Route Type 2022-2030 ($ Bn)
Global RO-RO Vessels Market Size By Route Type 2022-2030 (%)

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Global RO-RO Vessels Market Segmental Analysis

Global RO-RO Vessels Market is segmented on the basis of vessels type, route type and region. By vessel type, the market is segmented into pure car carriers, truck carriers, conro vessels, lolo vessels. By route type, the market is segmented into short sea routes, deep sea routes, domestic routes, international routes, others. By region, the market is divided into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

RO-RO Vessels Market Analysis by Vessels Type

The CAGR for PCC vessels in the global RO-RO vessels market has been around 3-4% during the past few years. Pure Car Carriers, also known as PCC vessels, are specifically designed for the transportation of passenger vehicles. These vessels have multiple decks to accommodate large numbers of vehicles and are equipped with specialized ramps and doors for easy loading and unloading.

The CAGR for PCTC vessels in the global RO-RO vessels market has been around 2-3% during the past few years. Truck Carriers, also known as PCTC vessels, are designed to transport a combination of passenger vehicles and commercial vehicles, including trucks, buses, and other wheeled cargo. These vessels are versatile and can accommodate a mix of different types of vehicles.

RO-RO Vessels Market Analysis by Distribution Channels

The CAGR for short-sea routes in the global RO-RO vessels market has been around 3% during the past few years. Short-sea routes refer to routes that involve transportation of wheeled cargo, such as vehicles or other wheeled equipment, across relatively shorter distances, typically within a region or neighboring countries. These routes may include transportation between ports within a country or between neighboring countries or islands.

The CAGR for international routes in the global RO-RO vessels market has been around 2-3% during the past few years. International routes refer to routes that involve transportation of wheeled cargo between different countries or regions. These routes may involve transportation of vehicles or other wheeled equipment across international borders, catering to the international market demand.

Global RO-RO Vessels Market Size By Route Type 2022(%), 2021 (%)

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Global RO-RO Vessels Market Regional Insights

The Asia Pacific region has emerged as a dominant market for RO-RO vessels, with a CAGR of around 5-6% during the past few years. The region is witnessing rapid industrialization and urbanization, driving the demand for transportation of goods and vehicles. Countries such as China, Japan, South Korea, and India are major contributors to the growth of the RO-RO vessels market in Asia Pacific.

The North American RO-RO vessels market has witnessed steady growth, with a CAGR of around 3-4% during the past few years. The United States and Canada are the major contributors to the market, driven by the growing automotive and commercial vehicle industries, as well as the need for efficient transportation of goods to support trade activities.

Global RO-RO Vessels Market Size By Geography, 2022-2030, 2023-2030
  • Largest
  • Fastest

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Global RO-RO Vessels Market Dynamics

RO-RO Vessels Market Drivers

Expanding Automotive Industry has High Demands for RO-RO Vessels

  • The automotive industry plays a crucial role in driving the demand for RO-RO vessels. The growing production and sales of automobiles, including passenger cars and commercial vehicles, require reliable and efficient transportation solutions, making RO-RO vessels an attractive choice for automotive manufacturers and shippers.
  • Infrastructure development, including the construction of ports and terminals, is driving the demand for RO-RO vessels. As global trade continues to grow, the need for efficient and modernized port facilities to handle RO-RO cargo is increasing, creating opportunities for RO-RO vessel operators to expand their services.

RO-RO Vessels Market Restraints

Volatility in Fuel Prices to Hinder Market Growth

  • The volatility in fuel prices, especially marine fuels, can significantly impact the operating costs of RO-RO vessels. Fluctuating fuel prices can affect profitability and create uncertainty in the market, making it challenging for operators to plan and manage their operations efficiently.

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Global RO-RO Vessels Market Competitive Landscape

The competitive landscape in the RO-RO vessels market is influenced by factors such as fleet size, service offerings, geographic presence, customer base, and industry partnerships. Companies often strive to differentiate themselves through innovative solutions, reliable operations, and superior customer service. Additionally, regulatory compliance, environmental sustainability, and digitalization are becoming increasingly important competitive factors in the RO-RO vessels market as the industry evolves and adapts to changing market dynamics and customer demands.

Top Player’s in RO-RO Vessels Market Company Profiles

  • Grimaldi Group (Italy)
  • K Line (Japan)
  • NYK Line (Japan)
  • Siem Car Carriers (Norway)
  • Wilhelmsen Ship Management (Norway)
  • EUKOR Car Carriers (South Korea)
  • Hoegh LNG (Norway)
  • ACL (United States)
  • Grimaldi Lines (Italy)
  • Stena RoRo (Sweden)
  • MOL Auto Carrier Express (Japan)
  • Hoegh Autoliners (Japan)
  • United European Car Carriers (Norway)
  • Sallaum Lines (Lebanon)
  • Neptune Lines (Greece)
  • Wallenius Lines (Sweden)
  • Eukor Car Carriers (South Korea)
  • Tarros Group (Italy)
  • CSAV RoRo (Chile)

RO-RO Vessels Market Recent Developments

  • In September 2021, Finnish shipping company Finnlines announced a EUR 500 million (approximately USD 592 million) investment in the construction of five new green RO-RO vessels. The vessels will be equipped with advanced environmental technologies, such as hybrid scrubbers and battery systems, to reduce emissions and improve fuel efficiency.
  • In August 2021, Swedish shipbuilder Stena RoRo announced a EUR 50 million (approximately USD 59 million) investment in the construction of a new RO-RO vessel called the "Stena Scandica". The vessel will be one of the largest and most modern ferries in the Baltic Sea, with a capacity for 1,000 passengers and 120 trucks.
  • In July 2021, Danish shipping company DFDS signed a contract worth EUR 300 million (approximately USD 355 million) with Guangzhou Shipyard International (GSI) in China to build two new large RO-RO vessels. The vessels will be equipped with energy-efficient technologies, including scrubbers and hybrid systems.

Global RO-RO Vessels Key Market Trends

  • The adoption of sustainable technologies, such as alternative fuels, electrification, and emissions control systems, is a significant trend in the global RO-RO vessels market. Shipowners and operators are investing in eco-friendly technologies to comply with environmental regulations, reduce emissions, and improve sustainability in their operations.

Global RO-RO Vessels Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our analyses, the global RO-RO vessels market is a dynamic and competitive industry that involves the transportation of wheeled cargo, such as vehicles and heavy machinery, on specialized vessels. The market is driven by factors such as increasing global trade, growing demand for efficient and cost-effective transportation solutions, and rising need for specialized vessels to transport oversized and heavy cargo. However, the market also faces challenges such as regulatory compliance, environmental sustainability, and technological advancements. The market is also witnessing trends such as the adoption of digitalization and automation in vessel operations, focus on eco-friendly and energy-efficient vessels, and increased emphasis on safety and security measures. Additionally, strategic partnerships, collaborations, and mergers and acquisitions are common strategies adopted by companies to expand their market share and enhance their competitive position. The global RO-RO vessels market is expected to witness steady growth in the coming years, driven by increasing global trade and demand for efficient transportation solutions.

Report Metric Details
Market size value in 2021 USD 23.56 billion
Market size value in 2030 USD 35.34 billion
Growth Rate 5.2%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Route Type
    • Short Sea Routes, Deep Sea Routes, Domestic Routes, International Routes, Others
  • Vessels Type
    • Pure Car Carriers, Truck Carriers, ConRo Vessels, LOLO Vessels
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Grimaldi Group (Italy)
  • K Line (Japan)
  • NYK Line (Japan)
  • Siem Car Carriers (Norway)
  • Wilhelmsen Ship Management (Norway)
  • EUKOR Car Carriers (South Korea)
  • Hoegh LNG (Norway)
  • ACL (United States)
  • Grimaldi Lines (Italy)
  • Stena RoRo (Sweden)
  • MOL Auto Carrier Express (Japan)
  • Hoegh Autoliners (Japan)
  • United European Car Carriers (Norway)
  • Sallaum Lines (Lebanon)
  • Neptune Lines (Greece)
  • Wallenius Lines (Sweden)
  • Eukor Car Carriers (South Korea)
  • Tarros Group (Italy)
  • CSAV RoRo (Chile)
Customization scope

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global RO-RO Vessels Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global RO-RO Vessels Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global RO-RO Vessels Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global RO-RO Vessels Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global RO-RO Vessels Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global RO-RO Vessels Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQ's

RO-RO Vessels Market size was valued at USD 23.56 billion in 2021 and is poised to grow from USD 24.79 billion in 2022 to USD 35.34 billion by 2030, at a CAGR of 5.2%during the forecast period (2023-2030).

The competitive landscape in the RO-RO vessels market is influenced by factors such as fleet size, service offerings, geographic presence, customer base, and industry partnerships. Companies often strive to differentiate themselves through innovative solutions, reliable operations, and superior customer service. Additionally, regulatory compliance, environmental sustainability, and digitalization are becoming increasingly important competitive factors in the RO-RO vessels market as the industry evolves and adapts to changing market dynamics and customer demands. 'Wallenius Wilhelmsen (Norway/Sweden)', 'Grimaldi Group (Italy)', 'Höegh Autoliners (Norway)', 'K Line (Japan)', 'Mitsui O.S.K. Lines (Japan)', 'NYK Line (Japan)', 'Siem Car Carriers (Norway)', 'Wilhelmsen Ship Management (Norway)', 'EUKOR Car Carriers (South Korea)', 'Hoegh LNG (Norway)', 'ACL (United States)', 'Grimaldi Lines (Italy)', 'Stena RoRo (Sweden)', 'MOL Auto Carrier Express (Japan)', 'Hoegh Autoliners (Japan)', 'United European Car Carriers (Norway)', 'Sallaum Lines (Lebanon)', 'Neptune Lines (Greece)', 'Wallenius Lines (Sweden)', 'Eukor Car Carriers (South Korea)', 'Tarros Group (Italy)', 'CSAV RoRo (Chile)'

The automotive industry plays a crucial role in driving the demand for RO-RO vessels. The growing production and sales of automobiles, including passenger cars and commercial vehicles, require reliable and efficient transportation solutions, making RO-RO vessels an attractive choice for automotive manufacturers and shippers.

The adoption of sustainable technologies, such as alternative fuels, electrification, and emissions control systems, is a significant trend in the global RO-RO vessels market. Shipowners and operators are investing in eco-friendly technologies to comply with environmental regulations, reduce emissions, and improve sustainability in their operations.

The Asia Pacific region has emerged as a dominant market for RO-RO vessels, with a CAGR of around 5-6% during the past few years. The region is witnessing rapid industrialization and urbanization, driving the demand for transportation of goods and vehicles. Countries such as China, Japan, South Korea, and India are major contributors to the growth of the RO-RO vessels market in Asia Pacific.

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Global RO-RO Vessels Market

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