Shipbuilding and repairing encompass the design, construction, maintenance and restoration of marine vessels. Shipbuilding involves the engineering and fabrication ships at specialized facilities known as shipyards. This process includes conceptual design, structural assembly and the installation of systems such as propulsion, navigation and safety equipment. Ship repairing, on the other hand, involves the maintenance, overhaul and modification of existing ships to ensure their operational efficiency and compliance with safety regulations.
The ship building and repairing market consists of sales of ship building and repairing services by entities (organizations, sole traders and partnerships) that are involved in constructing new ships and maintaining or restoring existing vessels to ensure their seaworthiness and functionality.
The global ship building and repairing market was valued at $181,599.5 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 5.0%.
Rising Investments For Port Construction And Facilities
Rising investments in port construction and facilities propelled the growth of the ship building and repairing market. Port expansions require specialized vessels like container ships, bulk carriers and tugboats, driving new vessel construction. Infrastructure upgrades prompt shipowners to retrofit existing vessels, boosting repair and retrofitting services. New port construction and expansions open or increase traffic on shipping routes, creating opportunities for shipbuilders to design vessels tailored to these specifications and fuel market growth. For instance, in December 2021, Hutchison Ports, a Hong Kong-based company that operates international container terminals invested €60 million ($64.89 million) to expand its container terminal in the Port of Barcelona, Spain. The €31 million ($33.5 million) was allocated for 7 more blocks of containers, increasing their capacity by 26%. The remaining 29 million was invested in machinery, specifically 14 automatic stacking cranes. Therefore, rising investments in port construction and facilities supported the growth of the ship building and repairing market during the historic period.
Introduction Of Climate-Friendly Transportation Solutions For Sustainable Shipping Technologies
Companies in the ship building and repairing market are prioritizing the introduction of climate-friendly transportation solutions, which marks a significant step forward in sustainable shipping technologies. Continued innovation and investment in alternative fuels and propulsion systems are expected to drive further advancements in the industry, leading to a greener and more sustainable maritime sector. For instance, in January 2024, A.P. Moller-Maersk A/S, a Danish shipping and logistics company, launched the Ane Maersk, its new methanol-powered shipping container, which is the world's largest vessel capable of running on the green hydrogen derivative. The new vessel boasts a capacity of 16,000 20-foot shipping containers (TEU), a significant increase from Laura Maersk's 2,100 TEU capacity. The company procured ample green methanol for the maiden voyage of the vessel and is actively pursuing sourcing solutions for its methanol-enabled fleet in 2024-25. Additionally, in May 2023, Hapag-Lloyd AG, a Germany-based international shipping and container transportation company, introduced "Ship Green," a climate-friendly transportation solution utilizing biofuel. It offers flexibility with no long-term commitment and is accessible globally. Initially, customers can opt for Ship Green as an additional service to their current bookings.
The global ship building and repairing market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 17.19% of the total market in 2023.
Ship Building And Repairing Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global ship building and repairing market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for ship building and repairing? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The ship building and repairing market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider ship building and repairing market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by type of vessel and by end-user.
- Product Analysis- The product analysis section of the report describes the leading products in the ship building and repairing market, along with key features and differentiators for those products.
- Supply Chain- The supply chain section of the report defines and explains the key players in the ship building and repairing industry supply chain.
- Customer Information- The chapter covers recent customer trends/preferences in the global ship building and repairing market.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the ship building and repairing market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by type, by type of vessel and by end-user in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for ship building and repairing providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Type: Ship Building; Ship Repairing
- 2) By Type Of Vessel: Tankers; Bulkers; Containerships; Cruise And Ferry; Other Type Of Vessels
- 3) By End-User: Passenger Transportation; Goods Transportation
- Companies Mentioned: China State Shipbuilding Corporation (CSSC); Hyundai Heavy Industries (HHI); COSCO Shipyard Group; Mitsubishi Heavy Industries (MHI); Samsung Heavy Industries (SHI)
- Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Brazil; France; Germany; UK; Russia; Czech Republic; Poland; Romania; Ukraine; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Egypt; Nigeria; South Africa; Iran; Israel; Saudi Arabia; Turkey; UAE; Argentina; Chile; Colombia; Peru; Canada; Mexico; Vietnam; Thailand; Singapore; Philippines; New Zealand; Malaysia; Hong Kong
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; ship building and repairing indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.