Ship Building Market Size, Competitive Landscape, Demand Analysis, Growth Rate And Forecast To 2032

As per The Business Research Company's Ship Building Opportunities And Strategies Market Report 2023, the global ship building market reached a value of nearly $194,333.5 million in 2022, having grown at a compound annual growth rate (CAGR) of 4.9% since 2017. The market is expected to grow from $194,333.5 million in 2022 to $257,922.6 million in 2027 at a rate of 5.8%. The market is then expected to grow at a CAGR of 6.7% from 2027 and reach $357,456.2 million in 2032.

The shipbuilding market is expected to be driven in the forecast period by the increasing demand for e-commerce. Several factors such as urbanization. Increased mobile and internet penetration, the availability of a wide range of products online and a rise in online marketing increased the market for e-commerce, driving the market for shipbuilding. According to the International Trade Administration, an agency in the United States Department of Commerce, e-commerce sales in Canada were estimated to be around $2.34 billion in March 2022. By 2025, it is predicted that retail e-commerce sales will reach $40.3 billion. Moreover, according to ecommerceDB, a Hamburg-based IT services and IT consulting company, the Russian e-commerce market is anticipated to grow by 67.2% in 2023, which will help contribute to the 10.4% global growth rate for 2023. Therefore, increasing demand for e-commerce will positively impact the shipbuilding market.

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Shipbuilding companies are increasingly integrating artificial intelligence (AI) into their operating systems to increase efficiencies. AI and automation play a very important role in shipbuilding. Sophisticated AI systems can dramatically improve efficiencies in the fleet industry by reducing the impact of human errors, automatically driving to the best routes and by cutting down on fuel emissions. For example, in June 2022, Huangpu Wenchong Shipyard, a China-based shipbuilder, launched the first AI-operated crewless ship. It is the first self-contained autonomous platform, including remote control and autonomous sea navigation capabilities. Moreover, in 2020, Hyundai Heavy Industries, a South Korea based shipbuilding company and a major heavy equipment manufacturer, introduced a new AI-driven operating system in its vessel. The company claims that this AI-based operating system can reduce fuel consumption by 10% and enhance the independent Hi-Touch Marine and Stationery Engine. The operating system collects and analyses big data and real-time information of a vessel's engine and can adjust the ship power control management system to optimize fuel efficiency.

The top opportunities in the ship building market segmented by product will arise in the bulkers segment, which will gain $21,794.7 million of global annual sales by 2027. The top opportunities in the ship building market segmented by application will arise in the goods transportation segment, which will gain $59,423.5 million of global annual sales by 2027. The top opportunities in the ship building market segmented by end user will arise in the logistics companies segment, which will gain $59,471.2 million of global annual sales by 2027. The ship building market size will gain the most in China at $12,572.4 million.

Ship Building Market Segmentation:
The ship building market is segmented by type, by component, by function and by type of traders.
By Product-
The ship building market is segmented by product into
a) Bulkers
b) Tankers
c) Containers
d) Cruise And Ferry
e) Other Products

By Application -
The ship building market is segmented by application into
a) Passenger Transportation
b) Goods Transportation

By End-User -
The ship building market is segmented by end-user into
a) Logistics Companies
b) Cruise Operators
c) Other End-Users

Major players in the ship building market include Korea Shipbuilding & Offshore Engineering Co., Ltd, Samsung Heavy Industries, Fincantieri S.p.A., Daewoo Shipbuilding & Marine Engineering Co Ltd, Imabari Shipbuilding Co., Ltd.

The regions covered in the global ship building market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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The latest report from The Business Research Company, 'Global Ship Building Opportunities And Strategies Market Report - Forecast To 2032,' provides a comprehensive global perspective with data and statistics from 60+ geographies, analyzing 7000+ market segments. The regional and country breakdowns section offers insights into each geography's market analysis, size, historic and forecast growth, and key strategies for industry competitiveness.

Ship Building Market Report Table Of Content
1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
6. Introduction and Market Characteristics
……
18. Competitive Landscape And Company Profiles
19. Key Mergers and Acquisitions
20. Opportunities And Strategies
21. Ship Building Market, Conclusions And Recommendations
22. Appendix

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