Dublin, Dec. 06, 2024 (GLOBE NEWSWIRE) — The “Shipbuilding – Global Strategic Business Report” has been added to ResearchAndMarkets.com’s offering.
The global market for shipbuilding was estimated at US$111.2 Billion in 2023 and is projected to reach US$140.3 Billion by 2030, growing at a CAGR of 3.4% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
What Are the Key Drivers Fueling Growth in the Shipbuilding Market?
The growth in the shipbuilding market is driven by several key factors, including the expansion of global trade, rising demand for energy-efficient and eco-friendly vessels, and advancements in defense modernization. The expansion of global trade is a primary driver, as international shipping remains the most cost-effective mode of transporting goods across continents. With global e-commerce growth and increased demand for consumer goods, raw materials, and industrial products, the need for new and larger cargo vessels has surged. As a result, shipbuilders are constructing advanced container ships, bulk carriers, and tankers that can handle high cargo volumes efficiently. The shipbuilding industry’s ability to meet demand for larger, more efficient vessels is essential for supporting trade routes and global supply chains, especially as companies seek to minimize shipping costs and maximize capacity.
Rising demand for energy-efficient and eco-friendly vessels is also a major growth driver in the shipbuilding market, driven by both regulatory pressure and industry initiatives to reduce carbon emissions. Regulations from the International Maritime Organization (IMO) and other global bodies require vessels to meet strict emissions standards, promoting the development of ships with lower carbon footprints.
Shipbuilders are increasingly focusing on LNG-powered ships, hybrid engines, hydrogen fuel cells, and other green technologies to create eco-friendly vessels that comply with these regulations. This shift toward sustainability is expected to drive demand for ships with advanced fuel-efficient designs, supporting both the commercial shipping and passenger transport sectors as companies and consumers seek greener transportation options.
Advancements in defense modernization are further propelling growth in the shipbuilding market, as countries prioritize the renewal and expansion of their naval fleets to address security needs and geopolitical challenges. The construction of high-tech defense vessels, including submarines, aircraft carriers, and destroyers, supports national security efforts, enabling countries to protect their interests in international waters.
The rise of maritime security threats, such as piracy, illegal fishing, and territorial disputes, has led to increased government spending on navy modernization, particularly in regions such as Asia-Pacific and the Middle East. Shipbuilders specializing in defense are benefiting from this demand, as defense modernization programs require vessels equipped with the latest technologies in surveillance, weaponry, and communication.
Together, these drivers – expansion of global trade, demand for eco-friendly vessels, and defense modernization – are fueling growth in the shipbuilding market, establishing it as a cornerstone of both the global economy and national security. As shipbuilders continue to innovate and adapt to the evolving demands of commercial, environmental, and defense sectors, the shipbuilding industry is set to play a central role in shaping the future of maritime transportation and international trade.
Scope of the Study
The report analyzes the Shipbuilding market, presented in terms of market value (US$ Million). The analysis covers the key segments and geographic regions outlined below.
Segments
- Type (Bulk Carriers, Oil Tankers, Container Ships, General Cargo Ships, Passenger Ships, Other Types)
- End-Use (Transport End-Use, Military End-Use)
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Bulk Carriers segment, which is expected to reach US$52.0 Billion by 2030 with a CAGR of a 3.5%. The Oil Tankers segment is also set to grow at 4.4% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $29.2 Billion in 2023, and China, forecasted to grow at an impressive 3.3% CAGR to reach $22.6 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Shipbuilding Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Shipbuilding Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Shipbuilding Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Global Shipbuilding Market such as BAE Systems Plc, China Merchants Industry Holdings Co., Ltd., China Shipbuilding Industry, China State Shipbuilding Corporation, COSCO SHIPPING Heavy Industry Co., Ltd. and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Some of the 49 companies featured in this Global Shipbuilding Market report include:
- BAE Systems
- China Merchants Industry Holdings Co., Ltd.
- China Shipbuilding Industry
- China State Shipbuilding Corporation
- COSCO SHIPPING Heavy Industry Co., Ltd.
- Damen Holding
- FINCANTIERI
- Hanwha Group
- HD Hyundai Heavy Industries Co., Ltd.
- HD Hyundai MIPO
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 190 |
| Forecast Period | 2023 – 2030 |
| Estimated Market Value (USD) in 2023 | $111.2 Billion |
| Forecasted Market Value (USD) by 2030 | $140.3 Billion |
| Compound Annual Growth Rate | 3.4% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- World Market Trajectories
- Shipbuilding – Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
FOCUS ON SELECT PLAYERS
- BAE Systems Plc
- China Merchants Industry Holdings Co., Ltd.
- China Shipbuilding Industry
- China State Shipbuilding Corporation
- COSCO SHIPPING Heavy Industry Co., Ltd.
- Damen Holding B.V.
- FINCANTIERI SpA
- Hanwha Group
- HD Hyundai Heavy Industries Co., Ltd.
- HD Hyundai Mipo
MARKET TRENDS & DRIVERS
- Rising Demand for Commercial Shipping Drives Shipbuilding Market
- Growth in Naval Defense Spending Strengthens Demand for Shipbuilding
- Expansion of Offshore Oil and Gas Industry Spurs Market
- High Demand for LNG Carriers Sets Stage for Market Growth
- Rising Need for Efficient Cargo Ships Supports Market Demand
- Shift Towards Autonomous Ships Expands Addressable Market
- Increasing Adoption of Lightweight Materials in Shipbuilding Strengthens Market
- Focus on Reducing CO2 Emissions Drives Adoption of Eco-Friendly Vessels
- Government Investments in Port Infrastructure Bolster Shipbuilding Market
- Expansion of Cruise Industry Fuels Demand for Passenger Ships
- Rising Interest in Hybrid and Electric Ships Supports Market
- Demand for High-Capacity Vessels in Container Shipping Spurs Growth
For more information about this report visit https://www.researchandmarkets.com/r/gb7hge
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