U.S. Ocean Economy Market Size, Share, Trends, Industry Analysis Report By Industry Type (Marine Transport and Shipping, Marine Tourism and Recreation, Fisheries and Aquaculture)

Description

List of Tables

The U.S. Ocean Economy Market size is expected to reach USD 724.88 billion by 2034, according to a new study by Polaris Market Research. The report "U.S. Ocean Economy Market Share, Size, Trends, Industry Analysis Report By Industry Type (Marine Transport and Shipping, Marine Tourism and Recreation, Fisheries and Aquaculture); Market Forecast, 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.

The ocean economy, also known as the blue economy, encompasses all economic activities related to oceans, seas, and coastal areas. It includes industries such as fisheries, aquaculture, shipping, tourism, offshore oil and gas, renewable energy, marine biotechnology, and seabed mining. The ocean contributes significantly to the country's GDP, employment, and food security, while also playing a critical role in climate regulation and biodiversity conservation. Sustainable management of ocean resources is crucial for balancing economic growth with environmental conservation. Climate change, overfishing, pollution, and habitat destruction pose significant threats, prompting initiatives such as the United Nations' Sustainable Development Goal 14 (Life Below Water) to promote responsible ocean use. Innovations in marine technology, green shipping, and eco-tourism are driving the transition toward a more sustainable ocean economy, ensuring long-term benefits for future generations.

The U.S. ocean economy is a crucial component of the nation's economic and environmental framework, contributing billions annually and supporting millions of jobs. Key sectors include offshore energy, maritime trade, commercial fishing, aquaculture, tourism, and marine research. The Gulf of Mexico is a hub for offshore drilling, while states such as California and Massachusetts lead in marine biotechnology and renewable energy projects. The U.S. shipping industry, supported by major ports such as Los Angeles and New York, facilitates global trade, which drives market growth. Government agencies, such as the National Oceanic and Atmospheric Administration (NOAA), oversee ocean conservation and sustainable resource management in the country. Policies such as the National Ocean Policy and investments in offshore wind farms reflect a shift toward sustainability. However, challenges such as rising sea levels, ocean acidification, and overfishing require coordinated efforts between federal, state, and private sectors to ensure the resilience and growth of the U.S. ocean economy industry.

U.S. Ocean Economy Market Report Highlights

In terms of industry type, the marine tourism and recreation segment held 34.20% of the U.S. ocean economy market share in 2024 due to strong demand for coastal vacations, recreational boating, and marine wildlife experiences.

The fisheries and aquaculture segment is projected to register a CAGR of 4.1 from 2025 to 2034, owing to the rising demand for sustainable and locally sourced seafood and increasing investments in aquaculture facilities, especially in coastal and Great Lakes states.

A few major companies operating in the U.S. ocean economy industry include A.P. Moller - Maersk, ABB Group, DNV GL, General Electric, Ocean Infinity, Royal Dutch Shell, Schneider Electric, Siemens Gamesa Renewable Energy, Thales Group, and The Ocean Cleanup.

Polaris Market Research has segmented the market report on the basis of industry type:

By Industry Type Outlook (Revenue, USD Billion, 2021-2034)

Marine Transport and Shipping

Marine Tourism and Recreation

Fisheries and Aquaculture

Offshore Oil and Gas

Government, and Others

Product Code: PM6165

1. Introduction

1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
1.2. Stakeholders

2. Executive Summary

2.1. Market Highlights

3. Research Methodology

3.1. Overview
- 3.1.1. Data Mining
3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources

4. U.S. Ocean Economy Market Insights

4.1. U.S. Ocean Economy Market - Market Snapshot
4.2. U.S. Ocean Economy Market Dynamics
- 4.2.1. Drivers and Opportunities
  - 4.2.1.1. Rising Consumption of Oil and Gas
  - 4.2.1.2. Growing Seafood Demand
- 4.2.2. Restraints and Challenges
  - 4.2.2.1. High Capital Investment Requirements for Infrastructure Development
4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
4.4. PESTEL Analysis
4.5. U.S. Ocean Economy Market Trends
4.6. Value Chain Analysis

5. U.S. Ocean Economy Market, by Industry Type

5.1. Key Findings
5.2. Introduction
- 5.2.1. U.S. Ocean Economy Market, by Industry Type, 2020-2034 (USD Billion)
5.3. Marine Transport and Shipping
- 5.3.1. U.S. Ocean Economy Market, by Marine Transport and Shipping, by Region, 2020-2034 (USD Billion)
5.4. Marine Tourism and Recreation
- 5.4.1. U.S. Ocean Economy Market, by Marine Tourism and Recreation, by Region, 2020-2034 (USD Billion)
5.5. Fisheries and Aquaculture
- 5.5.1. U.S. Ocean Economy Market, by Fisheries and Aquaculture, by Region, 2020-2034 (USD Billion)
5.6. Offshore Oil and Gas
- 5.6.1. U.S. Ocean Economy Market, by Offshore Oil and Gas, by Region, 2020-2034 (USD Billion)
5.7. Government
- 5.7.1. U.S. Ocean Economy Market, by Government, by Region, 2020-2034 (USD Billion)
5.8. Others
- 5.8.1. U.S. Ocean Economy Market, by Others, by Region, 2020-2034 (USD Billion)

6. Competitive Landscape

6.1. Expansion and Acquisition Analysis
- 6.1.1. Expansion
- 6.1.2. Acquisitions
6.2. Partnerships/Collaborations/Agreements/Exhibitions

7. Company Profiles

7.1. A.P. Moller - Maersk
- 7.1.1. Company Overview
- 7.1.2. Financial Performance
- 7.1.3. Product Benchmarking
- 7.1.4. Recent Development
7.2. ABB Group
- 7.2.1. Company Overview
- 7.2.2. Financial Performance
- 7.2.3. Product Benchmarking
- 7.2.4. Recent Development
7.3. DNV GL
- 7.3.1. Company Overview
- 7.3.2. Financial Performance
- 7.3.3. Product Benchmarking
- 7.3.4. Recent Development
7.4. General Electric
- 7.4.1. Company Overview
- 7.4.2. Financial Performance
- 7.4.3. Product Benchmarking
- 7.4.4. Recent Development
7.5. Ocean Infinity
- 7.5.1. Company Overview
- 7.5.2. Financial Performance
- 7.5.3. Product Benchmarking
- 7.5.4. Recent Development
7.6. Royal Dutch Shell
- 7.6.1. Company Overview
- 7.6.2. Financial Performance
- 7.6.3. Product Benchmarking
- 7.6.4. Recent Development
7.7. Schneider Electric
- 7.7.1. Company Overview
- 7.7.2. Financial Performance
- 7.7.3. Product Benchmarking
- 7.7.4. Recent Development
7.8. Siemens Gamesa Renewable Energy
- 7.8.1. Company Overview
- 7.8.2. Financial Performance
- 7.8.3. Product Benchmarking
- 7.8.4. Recent Development
7.9. Thales Group
- 7.9.1. Company Overview
- 7.9.2. Financial Performance
- 7.9.3. Product Benchmarking
- 7.9.4. Recent Development
7.10. The Ocean Cleanup
- 7.10.1. Company Overview
- 7.10.2. Financial Performance
- 7.10.3. Product Benchmarking
- 7.10.4. Recent Development