Press release
Ship And Boat Building And Repairing Global Market Report 2024: Key Players, Demand Patterns And Forecasts 2033
Ship And Boat Building And Repairing Market
The Business Research Company offers in-depth market insights through Ship And Boat Building And Repairing Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The ship and boat building and repairing market size has grown strongly in recent years. It will grow from $284.22 billion in 2023 to $303.65 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to economic cycles, global trade, regulatory changes.
The ship and boat building and repairing market size is expected to see strong growth in the next few years. It will grow to $390.86 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to sustainability and environmental regulations, energy transition, digitalization and automation, infrastructure investment, geopolitical stability and security concerns. Major trends in the forecast period include electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, collaboration and partnerships, .
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Market Segmentation:
The main types in the ship and boat building and repairing market are shipbuilding and repairing, boat building and repairing. Repairing refers to the servicing and maintaining of motor vehicles, such as overhauling motor vehicles, replacing components of motor vehicles, modifying and changing motor vehicles, and painting the surfaces of motor vehicles. The various applications include general services, dockage, hull parts, engine parts, electric works, auxiliary services. These are used by transport companies, the military, and other end users.
Major Driver - Stable Economic Growth And Global Gdp Projections Boost Ship And Boat Building And Repair Market
The ship and boat building and repair market is aided by stable economic growth forecast in many developed and developing countries. The International Monetary Fund (IMF) predicts that global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historical period, are further expected to aid the market's growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets in the forecast period. Stable economic growth is expected to increase investments in the end-user markets, thereby driving the market during the forecast period.
Competitive Landscape:
Major companies operating in the ship and boat building and repairing market include Samsung Heavy Industries Co. Ltd., Daewoo shipbuilding & marine engineering, BRP Inc., Brunswick Corporation, Fincantieri SpA, Huntington Ingalls Industries Inc., China Shipbuilding Industry Corporation, China CSSC Holdings Limited, Berkshire Hathaway Inc., General Dynamics Corp., Mitsubishi Heavy Industries Ltd., Austal Limited, Hyundai Mipo Dockyard Co Ltd., Damen Shipyards Group, Sembcorp Marine Ltd., Oman Drydock Company, Cochin Shipyard Limited, United Shipbuilding Corporation, Arab Shipbuilding and Repair Yard, Bae Systems Norfolk Ship Repair Inc., Conrad Shipyard L.L.C., Irving Shipbuilding, Seaspan ULC, Toronto Drydock Company, James Marine Inc., Trident Maritime Systems Inc., Reliance Naval and Engineering Limited, Bharati Defence And Infrastructure Limited, ABG Shipyard Limited, Western India Shipyard Limited, Titagarh Marine Limited.
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Top Trend - Innovative Technologies In The Ship And Boat Building And Repair Market With Green Shipbuilding Technologies To Comply With Environmental Rules And Regulations
Ship building companies around the world are increasingly using green shipbuilding technologies to comply with environmental rules and regulations. Technologies being used for shipbuilding include ships with no ballast systems that block organisms entering the ship and eliminate the need for sterilisation equipment, sulphur scrubber systems, waste heat recovery systems, speed nozzles, exhaust gas recirculation systems, advanced rudder and propeller systems, fuel and solar cell propulsion systems, and the use of LNG fuels for propulsion and auxiliary engines. Ships built using these technologies have significant energy savings and low carbon emissions. For instance, Peace Boat, a Japanese non-profit NGO, has entered into an agreement with a Finnish shipbuilding company, Arctech Helsinki Shipyard, for the construction of Ecoship, the world's greenest cruise vessel. The Dean Shipyards Group is also coordinating a green LeanShips project aimed at creating less polluting vessels.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Ship And Boat Building And Repairing Market Characteristics
3. Ship And Boat Building And Repairing Market Trends And Strategies
4. Ship And Boat Building And Repairing Market - Macro Economic Scenario
5. Ship And Boat Building And Repairing Market Size And Growth
…..
27. Ship And Boat Building And Repairing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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