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Shaping the Ship And Boat Building And Repairing Market in 2025: Innovative Technologies In The Ship And Boat Building And Repair Market With Green Shipbuilding Technologies To Comply With Environmental Rules And Regulations
Ship And Boat Building And Repairing Global Market Report 2025
Over recent years, the ship and boat building and repairing market has seen robust growth. The market size is projected to rise from $305.1 billion in 2024 to $327.11 billion in 2025, with a compound annual growth rate (CAGR) of 7.2%. Factors such as economic cycles, global trade and regulatory changes have contributed to the growth observed in the historic period.
Strong expansion is projected for the ship and boat building and repairing market in the coming years, with the market size potentially rocketing to $416.68 billion by 2029. This represents a compound annual growth rate (CAGR) of 6.2%. Factors such as sustainability and environmental regulations, progress towards energy transition, the rise of digitalization and automation, infrastructure investment, and increased geopolitical stability and security concerns are all contributing to this growth. Key trends to observe in this forecast period comprise advancements in electrification and lightweighting, breakthroughs in materials, the rise of additive manufacturing, progression in digitalization and connectivity, as well as growing collaborations and partnerships.
What Are the Primary Growth Drivers for the Ship And Boat Building And Repairing Market?
Many developing and developed countries' stable economic growth forecasts aid the ship and boat building and repair market. The International Monetary Fund (IMF) predicts a rise in global GDP, forecasting a growth of 3.2% in 2024 and 3.3% in 2025. This market's growth should further be facilitated by the recovery of commodity prices after a significant historical decline. During the forecast period, developed economies are anticipated to maintain steady growth. Moreover, emerging markets are likely to grow marginally faster than developed economies during this period. The forecast period should see an influx of investments in end-user markets, driven by stable economic growth. This influx in investments is predicted to drive the market forward.
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Who Are the Dominant Companies Influencing Ship And Boat Building And Repairing Market Trends?
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.
How Is the Ship And Boat Building And Repairing Market Evolving?
Marine construction firms globally are progressively adopting eco-friendly shipbuilding technologies to adhere to environmental ordinances and regulations. The technologies deployed in shipbuilding encompass ships without ballast systems that prevent species from entering vessels and remove the requisite for sterilisation apparatus, sulphur scrubber systems, recycling systems for waste heat, speed nozzles, recirculation systems for exhaust gases, superior rudder and propeller mechanisms, fuel and solar cell drive systems, and the employment of LNG fuels for propulsion and supplementary engines. Vessels constructed using these methodologies offer substantial energy conservation benefits and decreased carbon output. Peace Boat, a Japanese non-profit NGO, for instance, has initiated a pact with Arctech Helsinki Shipyard, a Finnish marine construction firm, for the production of the Ecoship, recognised as the most sustainable cruise ship in the world. Furthermore, the Dean Shipyards Group is orchestrating a LeanShips project that promotes greener, aimed at delivering vessels with less pollution.
What Are the Different Segmentations in the Ship And Boat Building And Repairing Market?
The ship and boat building and repairing market covered in this report is segmented -
1) By Type: Ship Building And Repairing, Boat Building And Repairing
2) By Application: General Services, Dockage, Hull Part, Engine Parts, Electric Works, Auxiliary Services
3) By End-User: Transport Companies, Military, Other End Users
Subsegments:
1) By Ship Building And Repairing: Commercial Ship Building, Military Ship Building, Ship Repair And Maintenance Services, Ship Modification And Conversion
2) By Boat Building And Repairing: Recreational Boat Building, Fishing Boat Building, Yacht Building, Boat Repair And Maintenance Services, Custom Boat Building
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Which Region Is at the Forefront of the Ship And Boat Building And Repairing Market?
Asia-Pacific was the largest region in the ship and boat building and repairing market in 2023. Western Europe was the second largest market in ship and boat building and repairing market. The regions covered in the ship and boat building and repairing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa.
What Is Covered In The Ship And Boat Building And Repairing Global Market Report?
- Market Size Analysis: Analyze the Ship And Boat Building And Repairing Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Ship And Boat Building And Repairing Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Ship And Boat Building And Repairing Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Ship And Boat Building And Repairing Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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