Global Shipbuilding Market
Global shipbuilding market report gives comprehensive outlook on shipbuilding across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on global shipbuilding market gives historical, current, and future market sizes (US$ Mn) on the basis of product type, application, and geography. 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, global shipbuilding market report includes human demographics, regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global market to better equip clients with possible investment opportunities across the regions and market unmet needs.
Global Shipbuilding Market:
Global shipbuilding market was US$ 124.5 billion in 2019, and is expected to raise US$ 190.7 billion by 2026, with a CAGR of 5.7%. The key factors driving are rapid industrialization and economic liberalization. This is, during the forecast period, one of the main factors responsible for driving market growth. Flourishing economic activities, such as foreign direct investment, have contributed to an increase in the buying power of consumers. The market for consumer goods was amplified by this. 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.
Increasing application of shipbuilding industry:
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.
APAC dominates the share in the market:
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.
Key players profile in the market include-
- DSME Co., Ltd.
- Hanjin Heavy Industries Co., Ltd.
- Hyundai Heavy Industries Co., Ltd.
- Imabari shipbuilding Co., Ltd.
- MEYER WERFT GmbH & Co. KG
- Mitsubishi Heavy Industries, Ltd.
- Oshima Shipbuilding Co., Ltd.
- Samsung Heavy Industries Co., Ltd
- Shanghai Waigaoqiao Shipbuilding Co., Ltd.
- TSUNEISHI SHIPBUILDING Co., Ltd.
- In 2020, NSWC Carderock made a fabricated model of the hospital ship USNS Comfort (T-AH 20) using its 3-D printer, first uploading CAD drawings of ship model in it.
Key Findings of the Report:
- Global shipbuilding market expanding at significant CAGR over 2020 to 2026 owing to rapid industrialization and economic liberalization.
- Based on region, APAC accounted for larger market revenue share in 2019 and projected gain market revenue share over the forecast period.
- Players focusing on innovation of novel testing kits and collaboration strategies to retain market position in global market.
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2015-2019) and forecast (2020-2026).
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies.
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market.
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market.
- Cruise and Ferry
- Passenger transportation
- Goods transportation
- Rest of Europe
- Australia & New Zealand
- Rest of APAC
- Rest of Latin America
- GCC Countries
- South Africa
- Rest of MEA