Press release
Ship Building And Repairing Market Outlook 2025-2034: Key Trends, Growth Drivers, and Market Share
Ship Building And Repairing Market Size
Many developed and developing nations' projected steady economic growth is bolstering the shipbuilding and repair market. The global economy is predicted by the International Monetary Fund (IMF) to increase by 5.9 percent in 2021 and 4.9 percent in 2022. The market's growth is further predicted to be fueled by a rebound in commodity prices, which saw a significant drop in the historical period. During the forecasted period, developed economies are anticipated to exhibit steady growth. Moreover, in the forecast period, emerging markets are anticipated to grow slightly more quickly than developed ones. The expectation of stable economic growth is set to enhance investment in end-user markets, subsequently propelling the market throughout the forecast period.
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How will the growth rate of the ship building and repairing market shape industry trends by 2034?
The market size of ship manufacturing and refurbishment has seen marked growth in the proportionate years. An increase is predicted from $260.44 billion in 2024 to $278.96 billion in 2025 with a compound annual growth rate (CAGR) of 7.1%. The upward trajectory during the historical timeline may be ascribed to factors such as population growth, a surge in demand for cruise ships, and burgeoning economies in emerging markets.
The market size for ship building and repair is projected to experience robust growth in the coming years, with forecasts predicting it will reach $354.45 billion by 2029, expanding at a CAGR of 6.2%. The predicted growth during this forecasted period is due to factors such as the increasing need for e-commerce and technological advancements. Noteworthy trends for the forecast period are investments in AI-based operating systems to maximize efficiency and minimize waste, deploying greener technologies for repairing and maintaining ships, attention towards eco-friendly shipbuilding techniques to manufacture ships, this aids shipping and transportation companies to adhere to the global emission norms. Additionally, there is a rising interest in robotics to enhance productivity and lessen the reliance on human workforce.
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What new trends are reshaping the ship building and repairing market and its opportunities?
Globally, shipbuilding businesses are increasingly adopting eco-friendly shipbuilding methods to adhere to environmental laws and regulations. The technology employed in shipbuilding includes vessels without ballast systems, preventing organism intrusion and removing sterilization equipment requirements; Sulphur scrubber systems; waste heat recovery mechanisms; speed nozzles; exhaust gas recirculation structures; advanced propeller and rudder systems; renewable and solar cell propulsion systems; and the application of LNG fuels to run propulsion and auxiliary engines. Vessels constructed using these technologies demonstrate considerable energy conservation and reduced carbon emissions. For instance, the Japanese non-profit NGO, Peace Boat, has engaged in a deal with Arctech Helsinki Shipyard, a Finnish shipbuilding firm, for the production of Ecoship, the globes most environmentally friendly cruise ship. Meanwhile, the Dean Shipyards Group is working on a green LeanShips initiative aimed at reducing the number of polluting vessels.
Which primary segments of the ship building and repairing market are driving growth and industry transformations?
The ship building and repairing market covered in this report is segmented -
1) By Type: Ship Building, Ship Repairing
2) By Type Of Vessel: Tankers, Bulkers, Containerships, Offshore, Refrigerated Vessels, Passenger, Other Type Of vehicles
3) By End-User: Passenger Transportation, Goods Transportation
Subsegments:
1) By Ship Building: New Vessel Construction, Specialized Shipbuilding
2) By Ship Repairing: Routine Maintenance And Inspections, Major Repairs And Refurbishments, Conversion Services
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Which geographical regions are pioneering growth in the ship building and repairing market?
Asia-Pacific was the largest region in the shipbuilding and repairing market in 2024. Western Europe was the second largest region in the shipbuilding and repairing market. The regions covered in the ship building and repairing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the influential players reshaping the ship building and repairing market landscape?
Major companies operating in the ship building and repairing market include Hyundai Heavy Industries, Samsung Heavy Industries Co., Ltd., Daewoo Shipbuilding & Marine Engineering Co Ltd, Fincantieri S.p.A., General Dynamics Corporation, Imabari Shipbuilding Co., Ltd., China Shipbuilding Industry Co., Ltd., CSCC Offshore & Marine Engineering (Group) Company Ltd, MITSUBISHI HEAVY INDUSTRIES, LTD., Sumitomo Heavy Industries, Ltd, China State Shipbuilding Corporation, Yangzijiang Shipbuilding (Holdings) Ltd., New Times Shipbuilding Co. Ltd., Hudong- Zhonghua Shipbuilding, Tsuneishi Holdings, Oshima Shipbuilding Company, Cochin Shipyard Limited, Hindustan Shipyard Limited, Garden Reach Shipbuilders and Engineers, Lloyd Werft Bremerhaven, Neptune Werft GmbH, Schiffswerft Hermann Barthel GmbH, Meyer Werft, STX, PIRIOU, SOCARENAM, CMN: Chantiers naval de Normandie, Naval Group, A&P Group Tyne Shipyard, Cammell Laird, Parkol Marine Engineering, Yarrow Shipbuilders, NAUTA, Remontowa, Seatech Engineering, CRIST S A, Marine Projects Ltd SP, PO SEVMASH, AO, OSK, Admiralteiskie Verfi, Severnaya Verf, Pella, NEVSKI SSZ, Vard Tulcea, Santierul Naval Damen Galati, Shipyard ATG Giurgiu, Huntington Ingalls Industries Inc., BAE Systems, Dammam Shipyard, Zamil Offshore, Damen Shipyards Group, Israel Shipyards Ltd., Gemak Group of Companies, Sefine Shipyard, Kuzey Star Shipyard, Desan Shipyard, Southern African Shipyards, Dormac Marine & Engineering, DCD Enerji Çevre ve Teknoloji A.S, Southern Engineering Co. Ltd, West Atlantic Shipyard, Nigerdock FZE
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What Is Covered In The Ship Building And Repairing Global Market Report?
• Market Size Forecast: Examine the ship building and repairing market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the ship building and repairing market for a structured understanding.
• Key Players Overview: Analyze major players in the ship building and repairing market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the ship building and repairing market.
• Segment Contributions: Evaluate how different segments drive overall growth in the ship building and repairing market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the ship building and repairing market.
• Industry Challenges: Identify potential risks and obstacles affecting the ship building and repairing market.
• Competitive Landscape: Review strategic developments in the ship building and repairing market, including expansions, agreements, and new product launches.
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