Ship Building Market - By Size, Regional Trends, Key Players And Forecast To 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Ship Building Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $279.58 billion In 2028 At A CAGR Of 6.1% :

The ship building market size has grown strongly in recent years. It will grow from $207.15 billion in 2023 to $220.52 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to economic growth in emerging markets, an increasing demand for cruise ships, increasing seaborne trade and favorable government initiatives.

The ship building market size is expected to see strong growth in the next few years. It will grow to $279.58 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to an increasing demand for e-commerce, growing tourism and a growing population. Major trends in the forecast period include focus on integration of artificial intelligence (ai), green ship building technologies, surge in lng (liquefied natural gas)-fueled engines, use of robotics, digital twin technology, solar and wind powered ships, partnerships and collaborations and rising investments.

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Ship Building Market Major Segments
The ship building market covered in this report is segmented -

1) By Product: Bulkers, Tankers, Containers, Cruise And Ferry, Other Products
2) By Application: Passenger Transportation, Goods Transportation
3) By End-User: Logistics Companies, Cruise Operators, Other End-Users

Key Driver - Impact Of Increasing Seaborne Trade On The Shipbuilding Market

The increasing seaborne trade is predicted to contribute to the growth of the shipbuilding market. The rising population, the surging purchasing power of consumers, and improving standards of living are increasing the demand for consumer goods, leading to high production and rapid industrialization. For instance, according to Hellenic Shipping News data 2021, in the first 10 months of 2021, the global seaborne coal trade increased by 5.1% y-o-y to 984.7 mln tonnes, from 936.7 mln tonnes in the January-October 2020 period. The manufacturing of eco-friendly and advanced ships is supported by the increasing requirement for efficient and cost-effective transport alternatives for the movement of goods. According to Alliance Experts, transport by sea allows shipping large volumes at a lower cost than transport by road, rail, and air. This scenario is expected to drive the demand for the shipbuilding market. The increasing seaborne trade is predicted to contribute to the growth of the shipbuilding market. The rising population, the surging purchasing power of consumers, and improving standards of living are increasing the demand for consumer goods, leading to high production and rapid industrialization. This scenario is expected to drive the demand for growth of the shipbuilding market.

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Prominent Trend - 3D Printing Revolutionizes Shipbuilding

The use of 3D printing technology in shipbuilding is a leading trend being observed in the shipbuilding market in recent years. 3D printing, also known as additive manufacturing, is gaining popularity in every sector connected to manufacturing and engineering, including shipbuilding. The companies operating in the shipbuilding market are collaborating with other players in the industry to adopt advanced manufacturing technologies, including 3D printing, to enhance their manufacturing capabilities. For instance, in 2021, U.S. 3D printer OEM 3D Systems is working with the military shipbuilding industry, Huntington Ingalls Industries, to develop new corrosion-proof metal powders for maritime 3D printing applications. Working with Huntington Ingalls Industries' Newport News Shipbuilding division, 3D Systems is formulating novel Copper-Nickel and Nickel-Copper alloys that are particularly designed to produce robust, temperature-resistant parts.

Ship Building Market Players
Major companies operating in the ship building market report are Korea Shipbuilding & Offshore Engineering Co. Ltd, Samsung Heavy Industries, Fincantieri S.p.A, Daewoo Shipbuilding & Marine Engineering Co Ltd, Imabari Shipbuilding Co. Ltd, Yangzijiang Shipbuilding Ltd, CSSC Offshore and Marine Engineering Group Company Limited, Mitsubishi Heavy Industries, United Shipbuilding Corporation, Tsuneishi Shipbuilding, Cochin Shipyard Limited, Western India Shipyard, Hindustan Shipyard Ltd, Adani Kattupalli Shipyard (Larsen & Toubro) , Shanghai Waigaoqiao Shipbuilding Co., Ltd, Qingdao Captain Marine Co.,Ltd, HBM-Huanan Building Materials (Shenzhen) Co.,Ltd, Headway Technology Co.,Ltd, Star MarinePro Corp. Limited , China Shipbuilding Industry Co., Ltd, TGE Marine Gas Engineering, Emden Dockyard (Emder Werft und Dock GmbH) , Schoenrock Hydraulik Marine Systems GmbH, Gebr. Friedrich GmbH & Co, Neptun Ship Design, I.G. Giourouk GmbH, NORIS Group GmbH, Wessels Reederei GmbH & Co. KG, Lethe GmbH, Ostseestaal GmbH & Co. KG, Hamburgische Schiffbau-Versuchsanstalt GmbH - Hamburg Ship Model Basin (HSVA) , Fosen Yard Emden GmbH, Amur Shipbuilding Plant, Pregol Shiprepair Yard, Lotos Shipbuilding Plant, Vyborg Shipyard Jsc, Nakhodka Shiprepair Yard, JSC Okskaya Shipyard , Zvezda Shipbuilding (SSK), Monterey Boats, Ellicott Dredges, Marine Specialty Painting, Bertram Yachts, BAYONNE DRY-DOCK & REPAIR CORP, Indmar Products Co, Inc., Master Boat Builders, Inc., Crestliner Boats, Advanced Integrated Technologies (AIT) , Back Cove Yachts, Advex Corporation , East Coast Repair & Fabrication LLC, Intech Boating, Flexboat Năutica, Shipyard Rio Tiete Ltd, Naproservice, Flexprin Indústria Com e Serv Marítimos, OKEAN YACHTS, Global Ship Service, Active Nautical , RBNA Classification Society, Drydocks World Dubai, Albwardy Damen Marine Engineering Dubai, Grandweld Shipyards, Abu Dhabi Ship Building (ADSB) , Oceanic Ship Repair and Engineering Services LLC, Premier Marine Engineering Services (L.L.C), The Damen Group, Southern African Shipyards, Dormac Marine & Engineering, DCD Enerji Çevre ve Teknoloji A.S, Southern Engineering Co. Ltd, Nigerdock FZE, West Atlantic Shipyard

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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the shipbuilding market in 2023. Western Europe was the second largest market in global shipbuilding market share. The regions covered in the ship building market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Ship Building Market Report Structure
3. Ship Building Market Trends And Strategies
4. Ship Building Market - Macro Economic Scenario
5. Ship Building Market Size And Growth
…..
27. Ship Building Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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