Water Bus Market Growth: $1.64 Billion by 2030

The Water Bus Market is experiencing significant growth, driven by urbanization and the demand for sustainable public transportation solutions. As of 2024, the market is estimated at USD 1.22 billion and is projected to reach USD 1.64 billion by 2030, with a compound annual growth rate (CAGR) of 5.1%. This growth is attributed to advancements in maritime technologies and a focus on developing fuel-efficient and electric water buses, aligning with customer preferences for eco-friendly options. The market is segmented by propulsion, with fuel-powered water buses expected to dominate in terms of market share during the forecast period. Additionally, the 51-75 passenger capacity segment is anticipated to grow at the highest CAGR, as these vessels strike a balance between capacity and maneuverability, making them suitable for urban environments. The intercity operation segment is projected to hold the largest market share, as water buses provide an effective alternative to traditional transportation, alleviating traffic congestion and enhancing urban mobility. Their integration into public transportation systems is crucial for meeting the increasing demand for sustainable transit solutions. North America is identified as holding the second-highest market share in the water bus industry, driven by urbanization and a growing preference for eco-friendly transportation. Major players in this market include Damen Shipyards Group, Icarus Marine, and Incat Crowther, among others, indicating a competitive landscape focused on innovation and sustainability.