Press release
Ship Building And Repairing Industry Set to Achieve $313.15 Billion Milestone by 2029 | Steady 6.3% CAGR
Ship Building And Repairing Market
What Is the Long-Term Growth Forecast for the Ship Building And Repairing Market Size 2025?
The market for ship construction and maintenance has seen marked growth in recent years. The market is projected to expand from $232.4 billion in 2024 to $245.34 billion in 2025, representing a compound annual growth rate (CAGR) of 5.6%. This progressing in the historical stretch can be traced back to factors such as population increase, higher demand for cruise vessels, and economic advancements in developing markets.
What CAGR is Forecasted for the Ship Building And Repairing Market Through 2029?
The market size for shipbuilding and repair work is predicted to experience significant growth in the coming years. By 2029, it is projected to have expanded to $313.15 billion, reflecting a compound annual growth rate (CAGR) of 6.3%. This growth during the forecasted period is linked to an increased demand due to e-commerce and advancements in technology. The forecasted period is set to see major trends like investments in AI-based operating systems to enhance efficiency and cut down on errors and waste, commitment to eco-friendly ship repair technologies for maintenance and repairing of ships, a focus on sustainable shipbuilding technologies for production of ships, and adherence to global emission standards for ship building and transportation firms along with investments in robotics to boost efficiency and lessen reliance on human labor.
Explore The Complete Report Now:
https://www.thebusinessresearchcompany.com/report/ship-building-and-repairing-global-market-report
What Are the Critical Factors Driving Ship Building And Repairing Market Development?
The shipbuilding and repair sector is expected to benefit from the predicted steady economic growth in many developed and developing nations. The International Monetary Fund (IMF) projects that the worldwide economy will grow by 5.9 percent in 2021 and 4.9 percent in 2022. The market's expansion is also likely to be fueled by the rebound of commodity prices following a significant drop in the historical period. Stable growth is anticipated in developed economies during the forecast period, while emerging markets are predicted to see slightly accelerated growth compared to developed markets during the same timeframe. This steady economic growth is anticipated to spur increased investments in end-user markets, pushing the market forward during the forecast period.
Get Free Sample Report Here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=3621&type=smp
How Does the Ship Building And Repairing Market Break Down Across Major Segments?
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
What Are the Major Trends Transforming the Ship Building And Repairing Industry?
Globally, shipbuilding firms are progressively adopting eco-friendly shipbuilding technologies to adhere to environmental regulations. The technologies employed in shipbuilding encompass ships without ballast systems that hinder organisms' entry into the ship and remove sterilization equipment requirement; Sulphur scrubper systems; waste heat recovery mechanisms; speed nozzles; exhaust gas recirculation systems; sophisticated rudder and propeller systems; fuel and solar cell propulsion systems; alongside the utilization of LNG fuels for propulsion and extra engines. Ships constructed with these technologies demonstrate substantial energy conservation and reduced carbon emissions. For example, Peace Boat, a non-profit Japanese NGO, has entered into a deal with the Finnish shipbuilding company Arctech Helsinki Shipyard to build Ecoship, regarded as the greenest cruise vessel worldwide. Additionally, The Dean Shipyards Group is managing a green LeanShips initiative aimed to produce less pollutant vessels.
Customize Your Insights And Get The Full Report Here:
https://www.thebusinessresearchcompany.com/customise?id=3621&type=smp
Which Players Are Driving Innovation in the Ship Building And Repairing Market?
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
Which Regions Are Driving Global Ship Building And Repairing Market Expansion?
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
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Saumya Sahey
Europe: +44 7882 955267,
Asia: +44 7882 955267 & +91 8897263534,
Americas: +1 310-496-7795
Email: saumyas@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Ship Building And Repairing Industry Set to Achieve $313.15 Billion Milestone by 2029 | Steady 6.3% CAGR here
News-ID: 4173169 • Views: …
More Releases from The Business Research Company
Hybrid Train Market to Record 6.7% CAGR Growth Through 2029 | Global Analysis Re …
Use ONLINE30 for 30% savings on global market reports and stay on top of tariff updates, market trends, and economic shifts worldwide.
Hybrid Train Market Outlook: How is the Market Expected to Grow by 2025?
The market size for hybrid trains has seen a steady increase in recent times. Its expansion is anticipated to progress from $18.52 billion in 2024 to around $19.63 billion in 2025, boasting a compound annual growth rate…
Global Electric Utility Vehicle Market Expansion at 7.6% CAGR, Valued at $21.31 …
Use ONLINE30 for 30% savings on global market reports and stay on top of tariff updates, market trends, and economic shifts worldwide.
What Are the Electric Utility Vehicle Market Size Forecast for 2025?
The market size for electric utility vehicles has witnessed considerable growth in the past few years. The sector is expected to expand from a value of $14.92 billion in 2024 to $15.91 billion in 2025, reflecting a compound annual…
Cargo Bicycles Market Expansion Outlook: $11.5 Billion in 2029
Get 30% off global market reports with code ONLINE30 and keep ahead of tariffs, macro trends, and worldwide economic developments.
What Is the Projected CAGR for the Cargo Bicycles Market from 2024 to 2025?
Over the past few years, the market size for cargo bicycles has experienced remarkable expansion. The market is projected to rise from $3.78 billion in 2024 to $4.61 billion in 2025, with a compound annual growth rate (CAGR)…
Automotive Tire OEM Industry Growth Outlook: 7.9% CAGR and $33.14 Billion by 202 …
Get 30% off global market reports with code ONLINE30 and keep ahead of tariffs, macro trends, and worldwide economic developments.
What Is the Long-Term Growth Forecast for the Automotive Tire OEM Market Size 2025?
There has been a robust expansion in the size of the automotive tire oem market recently. The market, which is expected to escalate from $23.04 billion in 2024 to $24.49 billion in 2025, will see a compound annual…
More Releases for Ship
Ship Leasing Market to Eyewitness Massive Growth by 2030: Global Ship Lease, Fir …
Advance Market Analytics published a new research publication on "Ship Leasing Market Insights, to 2028" with 232 pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Ship Leasing market was mainly driven by the increasing R&D spending across the world. Some of the key players profiled…
Cargo Shipping Market : Bulk Carriers, General Cargo Ship, Container Ship, Tanke …
According to a new report published by Allied Market Research, titled, "Cargo Shipping Market," The global cargo shipping market size was valued at $2.2 trillion in 2021, and is projected to reach $4.2 trillion by 2031, growing at a CAGR of 7% from 2022 to 2031.
Asia-Pacific dominated the global cargo shipping market in 2021. China is expected to hold a dominant revenue share throughout the forecast period owing to the…
Cargo Shipping Market : Bulk Carriers, General Cargo Ship, Container Ship, Tanke …
According to a new report published by Allied Market Research, titled, "Cargo Shipping Market," The cargo shipping market was valued at $2.2 trillion in 2021, and is estimated to reach $4.2 trillion by 2031, growing at a CAGR of 7% from 2022 to 2031.
Asia-Pacific dominated the global cargo shipping market in 2021. China is expected to hold a dominant revenue share throughout the forecast period owing to the presence of…
Debut at the Port of Emden: Ship-to-Ship Refueling with LNG
“Fill Her Up, Please!” Siem Confucius, a 200-Meter-Long Car Carrier, Is Taking on LNG Fuel From the 108-Meter-Long LNG Bunker Ship Engie Zeebrugge.
Emden | 14. August 2020
It takes some eight hours for approximately 1500 metric tons of cryogenic (-163 degrees C) liquefied natural gas to transfer from ship to ship. The car carrier Siem Confucius had already called the Ems Quay in mid-June for loading vehicles at the Port of…
Ship Leasing Market Growth Scenario 2025 | Hamburg Commercial Bank, First Ship L …
A latest study released by HTF MI on Global Ship Leasing Market covering key business segments and wide scope geographies to get deep dive analysed market data. The study is a perfect balance bridging both qualitative and quantitative information of Ship Leasing market. The study provides historical data (i.e. Volume** & Value) from 2013 to 2018 and forecasted till 2025*. Some are the key & emerging players that are part…
Ship Solar Power System Installed on Large General Cargo Ship MV Panamana
Ship solar power system & associated equipment installed by crew whilst ship operated normally
Fukuoka, Japan – 24th May 2019 – Eco Marine Power (EMP) is pleased to announce its Aquarius MAS + Solar solution has been installed on the large general cargo ship MV Panamana. This installation was carried out by the ship’s crew with remote support provided by Zeaborn Ship Management (Singapore) Pte. Ltd. and EMP from Japan.…
