Ship Repair and Maintenance Services Market Assessed to Grow Robustly, Bringing In Revenues Worth over US$ 20,532.6 Mn and High Value Growth at 6.9% CAGR by End 2028
Ship Repair and Maintenance Services include typical repair and maintenance activity, subject to vessels, either planned or unplanned. The vessel is taken to a repair dock where it is washed; rust, old paint and vegetation is removed; and antifouling agents & marine paints are renewed.
The global market for Ship Repair and Maintenance Services is expected to witness significant growth in 2018, reaching a market value of US$ 20,532.6 Mn while growing at a y-o-y growth rate of 6.4% as compared to 2017. Furthermore, the global demand for Ship Repair and Maintenance Services will also be influenced by the growing seaborne trade and the cyclical nature of shipping industry.
Ship Repair and Maintenance Services Market: Overview and Analysis
In the recent past, the Ship Repair and Maintenance Services market has witnessed significant developments from the competition perspective. Increase in the demand for new ships and activities associated with ship repair and maintenance services can mainly be attributed to the improvements in mainland trade routes, such as Far East-Europe trade route. Another factor impacting the growth of the ship repair and maintenance services market is shortening of supply chains, in terms of both distance and number of nodes. This particular factor has been responsible for reducing the volume of the global trade as fewer factories and countries are involved in the production process. The aforementioned factors will play a crucial role in the development of the global ship repair and maintenance services market during the forecast period.
Request For Report Sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-5645
Based on vessel type, the oil & chemical tankers and bulk carriers segments are expected to remain dominant in the global Ship Repair and Maintenance Services market, in terms of value share, and will account for approximately 60% share by the end of 2028. Moreover, Singapore, Dubai and Bahrain have the required infrastructure to repair offshore support vessels and are likely to forge ahead in the ship repair and maintenance services market
Based on services type, dockage, hull part and engine parts are the key segments contributing to the growth of the global ship repair and maintenance services market revenue. In the ship repair and maintenance services market, Dockage and hull part services are expected to grow at a CAGR of 7.7% and 7.3%, respectively.
In 2017, South East Asia & Pacific ship repair and maintenance services market is estimated to be the most attractive region in the global Ship Repair and Maintenance Services market and accounted for more than 34.8% of the global ship repair and maintenance services market share. Further, SEAP is pegged to control the global Ship Repair and Maintenance Services market in the future as well. Within the SEAP Ship Repair and Maintenance Services market, Singapore dominates the world with its quality and cost-effective ship repair and maintenance services. Indonesia, Singapore, Vietnam and the Philippines will create and witness fierce competition in the regional ship repair and maintenance services market.
Increased seaborne trade against the backdrop of recent economic boom in China and other Asian countries has prompted trans-shipment activities. As a result, demand for ship repair and maintenance services activities in the region is set to witness strong growth rate. Tax incentives to shipyards provided by various government across the globe will augment the growth of the ship repair and maintenance services market.
Request For Report Table of Content (TOC): https://www.futuremarketinsights.com/askus/rep-gb-5645
Hanjin Heavy Industries, Hyundai Mipo Dockyard Co., Ltd., China Shipbuilding Industry Corporation (CSIC), Damen Shipyards Group, Cochin Shipyard Limited, Swissco Holdings Limited, Egyptian Ship Repair & Building Company, Desan Shipyard, Sembcorp Marine Ltd. and United Shipbuilding Corporation are some of the key players operating in the global Ship Repair and Maintenance Services market.
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.
FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Ship Repair and Maintenance Services Market Assessed to Grow Robustly, Bringing In Revenues Worth over US$ 20,532.6 Mn and High Value Growth at 6.9% CAGR by End 2028 here
News-ID: 1609896 • Views: 196
More Releases from Future Market Insights
How Changing Dynamics of Cable Testing Market are Reflecting on Growth Strategie …
Global Cable Testing Market: Introduction The cost of the substitution of cables that are concealed is very high. Faults in the cable, bending, kinking, and crushing, are not always visible, which has created the requirement for cable testing. Thus, cable testing helps check the cable functionality, cable quality, and cable conformity. Several times, cable testing by visual inspection is an effective way of identifying the actual problem before it causes any
How Transformative Trends in Self-Organising Network Market are Molding Strategi …
Self-Organising Network: Introduction With accelerated advancements and increasing complexities in the radio network technologies, such as those utilised for the development of LTE and 5G networks, which are used for planning, management, configuration, healing and optimisation, are required to be automated to facilitate efficiency. At present, suppliers are offering self-organising networks that possess the ability to offer optimum performance. Self-organising networks are use cases that perform network governance, including network planning,
Mining Vehicle AC Kits Market: Exploring the Impact of Trends on Strategies of K …
Mining Vehicle AC Kits Market: Introduction Cabin space in mining equipment has become more sophisticated in the recent past. The installation of mining vehicle AC kits has evolved from an optional feature to a necessary feature. Mining equipment manufacturers have made advancements in technology related to efficiency, performance and cost of air conditioning systems in order to make them affordable and economical to enable low-budget and compact installations without compromising on
Key Factors to Fuel Growth of the Talent Acquisition & Staffing Technology and S …
With the growing importance of recruiting and retaining top talent effectively and efficiently, smart hiring processes are the need of the hour. It is about time organisations move beyond merely scrutinising resumes. Salaries and benefits are important factors, but adopting ways that would make candidates an important part of the hiring process will attract the best talent. Studies reveal that due to discrepancies in existing Applicant Tracking Systems (ATS), hiring
More Releases for Ship
MgBOX Magnesium Air Battery for Ship Trials
Portable fuel cell battery developed by Furukawa Battery can provide electricity for up to 5 days Fukuoka, Japan – 7th March 2019 – In co-operation with Furukawa Battery Co., Ltd. (Furukawa Battery) and several ship owners, Eco Marine Power (EMP) is conducting an evaluation trial using the MgBOX fuel cell or air battery. These trials will help determine how this innovative emergency battery can be best stored and used on ships.
LNG Bunkering Market Outlook by Product Overview, Application and Regions 2024- …
LNG Bunkering Market The LNG Bunkering market Report provides a detailed analysis of the LNG Bunkering industry. It provides an analysis of the past 5 years and a future forecast till the year 2024.It also studies the future market trends in the global market. It studies the market by the various parameters such as sales, volumes, and the revenues. It also gives us an insight in the LNG Bunkering industry and is also making
Automation for Ship Renewable Energy Systems Unveiled
Computer systems for sail-assisted propulsion and ship solar power Fukuoka, Japan - 23rd October 2018 - As part of the ongoing strategy to prepare its EnergySail and Aquarius MRE for commercial release, Eco Marine Power (EMP) unveiled today further details of its automated control and monitoring systems. These will enable EMP’s technologies to integrate with existing ship-based systems. This will facilitate the seamless operation between EMP's renewable energy platforms with other
Yucatan Mexico small ship cruise
The adventure tour company, Explorations, has added a new one of a kind small ship cruise and land tour to Yucatan, Mexico. Starting at ending in Miami, Florida, passengers have 9 nights aboard the M/V Victory II and 2 nights in colonial Campeche in addition to an overnight at Chichen Itza. Unlike the large cruise ships the M/V Viceroy II is designed for only 202 passengers and its size allows
Agricultural Colorants: Businesses Prepare to Jump Ship
Qyresearchreports include new market research report Global Agricultural Colorants Market Research Report 2018 to its huge collection of research reports. The global Agricultural Colorants market has been assessed with an exclusive forecast study that traces its progress from the past through future years. The report offered herewith is an intelligent guideline for players looking to successfully counter market challenges and cement their growth in the industry. With objective information provided on
Utilise ship-building capacities more efficiently
Large tube bending machines from transfluid in greater use worldwide Challenges offer opportunities for creative ideas and innovations: In the international ship-building and offshore sector there is a search for new ways of planning capacities more efficiently and utilising resources more effectively. In tube machining the industry is therefore working with time-efficient and cost-saving bending machines more than ever, for increasingly large tube diameters. In demand are efficient solutions such as