Shipbuilding Market size was valued at US$ 124.5 billion in 2023 and is expected to reach US$ 190.7 billion by 2030, at a CAGR of 5.7% over 2024-2030. The key factors driving are rapid industrialization and economic liberalization. During the forecast period, this is one of the main factors responsible for driving the market growth. Flourishing economic activities, such as foreign direct investment, have contributed to an increase in the buying power of consumers. This amplified the market for consumer goods. In exchange, this is expected to fuel the growth of the overall market.
However, the rise in seaborne trade is expected to provide enormous growth opportunities, although fluctuations in the price of raw materials are expected to serve as a constraint on business growth. This report studies global shipbuilding market dynamics elaborately to identify the current trends & drivers, future opportunities, and possible challenges to the key stakeholders operating in the market. In addition, the global shipbuilding market report includes human demographics, regulatory scenario, and competition analysis with a vividly illustrated competition dashboard to assess the market competition.
Study Period
2024-2030Base Year
2023CAGR
5.7%Largest Market
Asia-PacificFastest Growing Market
Europe
The design and construction of ocean-going vessels is the responsibility of the shipbuilding industry. Today, much of the global production of ships is concentrated in Asian countries such as China, Japan and South Korea, although many other countries also have large shipyards. In the design and modification of ships, the shipbuilding industry is involved and these activities are carried out in specialized facilities called shipyards. The shipbuilding industry mainly supplies the shipping industry and, thus, it is difficult to address a shipbuilding cycle entirely outside the context of a shipping cycle. Shipbuilding cycles are primarily caused by supply-demand differences in the shipping industry.
In 2019, Asia-Pacific was a massive shipbuilding market, and the region is expected to provide market vendors with several growth opportunities during the forecast period. Growing developments in the regional maritime transport and naval shipbuilding sector are expected to help the growth of the Asia-Pacific shipbuilding market significantly.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 124.5 billion |
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Market Size in 2030 |
US$ 190.7 billion |
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Market CAGR |
5.7% |
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By Product type |
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By Application |
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By Region |
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Asia-Pacific is growing at the highest CAGR over 2023 - 2029.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.
Key Market Players
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