The production value in the UK's Sea and Coastal Passenger Water Transport Sector is forecasted to steadily rise from £8.35 billion in 2024 to £9.71 billion by 2028. This represents a cumulative increase over the five-year period, driven by growing demand and potential post-pandemic recovery in travel behaviors. The sector experienced disruptions in 2023 due to global constraints, but beginning in 2024, a consistent annual growth rate is anticipated, moving from 2024 to 2028 at an average annual growth rate (CAGR) of approximately 3.8%.
Future trends to watch for:
- Technological advancements improving fuel efficiency and sustainability.
- Increased investments in luxury and hybrid passenger vessels.
- Regulatory changes aimed at reducing carbon emissions in maritime transportation.
