Ship Building Market Overview and Regional Outlook Study 2028

Global ship building market size reached US$ 151.2 Billion in 2022, market to reach US$ 188.4 Billion by 2028, exhibiting a growth rate (CAGR) of 3.5% during 2023-2028.

In order to meet the rising demand, particularly for commercial ships, the ship building industry makes use of the most recent technology and fashions to create new ships. The market has seen a boom in demand for environmentally friendly ships, which in turn is fueling the expansion of the ship building industry. These factors include the expansion of economic activity, the increase in seaborne trade, and the rise in energy consumption. However, one of the main reasons impeding the market's growth is the large capital expenditure needed to establish the shipbuilding sector. The COVID-19 epidemic has also slowed down the development of new ships, raising the overall cost to shipbuilders.

Construction of ships and other floating vessels is referred to as shipbuilding. Often, a shipyard, a specialised location, is where it happens. Shipwrights and shipbuilders are synonyms. Oceangoing ships are built and designed by the shipbuilding industry all over the world. Asia-Pacific currently leads the world in shipbuilding, followed by Europe, North America, and LAMEA. Due to some distinct advantages, including comparatively lower wage, strong government support, and strong forward and backward connectivity of industries, Asia-Pacific is projected to maintain its dominance in the global market, notably in China, South Korea, and Japan. Due to the large capital requirements of the shipbuilding sector, political stability and strong government support are essential for its survival.

One of the main reasons fueling the market growth is the expansion of international seaborne trade as a result of fast globalisation and economic growth. Due to their enormous load-carrying capacity, cost-effectiveness, and fuel efficiency, larger cargo ships, bulk carriers, and tankers are frequently built using the ship building process. These vessels are used for transporting crude oils, petroleum products, steel, mineral ores, raw materials, vehicles, consumer electronics, fruits and vegetables, machinery, and other manufactured goods. Another growth-promoting aspect is the implementation of different government measures to increase marine trade through the building of new port infrastructure and the signing of free trade agreements.

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Global Ship Building Market: Segmentations

Global Ship Building Market: Major Players
Hindustan Shipyard
Bharati Shipyard
Cochin Shipyard
ABG Shipyard
Samsung Heavy industries
NASSCO
Daewoo Shipbuilding and Marine Engineering
L&T Shipyard
Pipavav
Hyundai Heavy Industries
Chowgule & Co.

Global Ship Building Market: By Types
Ferries
Small Commercial Vessels
Hydrographic and Scientific Survey Vessels
Large Fishing
Offshore Supply Vessels

Global Ship Building Market: By Applications
Transport
Military
Sightseeing Tour
Other

Global Ship Building Market: Regional Analysis
The countries covered in the regional analysis of the Global Ship Building market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

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Key Questions Answered in This Report:
1. How has the global Ship Building performed so far and how will it perform in the coming years?
2. What are the key regional Markets?
3. What has been the impact of COVID-19 on the global Ship Building?
4. What is the breakup of the Ship Building based on the type?
5. What is the breakup of the Market based on the application?
6. What is the breakup of the Ship Building based on the manufacturing process?
7. What is the breakup of the Market based on the price range?
8. What are the various stages in the value chain of the industry?
9. What are the key driving factors and challenges in the industry?
10. What is the structure of the global Ship Building and who are the key players?
11. What is the degree of competition in the industry?

The report has helped our clients:
1. To gain competitive intelligence and uncover new opportunities
2. To analyse opportunities in the Market for stakeholders by identifying high-growth segments in Ship Building
3. To strategically profile key players and provide details of the current competitive landscape
4. To describe and forecast the Ship Building size, on the basis of various segmentations and geography, in terms of value and volume
5. To measure the changing needs of customers/industries
6. To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the Ship Building
7. To analyse strategic approaches adopted by players in the Ship Building, such as product launches and developments, acquisitions, collaborations, contracts, expansions, and partnerships

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