(MENAFN- GlobeNewsWire - Nasdaq) Dublin, April 25, 2025 (GLOBE NEWSWIRE) -- The "Ship Building and Repairing Market Report 2025" has been added to ResearchAndMarkets.com's offering. The shipbuilding and repair market is supported by the outlook of stable economic growth in numerous developed and developing countries. This 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 historic and forecast market growth by geography. 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 ship building and repairing market size has grown strongly in recent years. It will grow from $260.44 billion in 2024 to $278.96 billion in 2025 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to rising population, increasing demand for cruise ships, and economic growth in emerging markets.
The ship building and repairing market size is expected to see strong growth in the next few years. It will grow to $354.45 billion in 2029 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to growing demand for e-commerce, and technological advances.
Major trends in the forecast period include investing on ai based operating systems to increase efficiency and reduce errors and wastage, investing in environmentally friendly ship repairing technologies for repairing and maintaining ships, focusing on green shipbuilding technologies to manufacture ships, and enable ship building and transportation companies to meet global emission norms and investing in robotics to increase efficiency and reduce the dependency on human laborers.
The rise in global trade is poised to enhance the growth of the shipbuilding and repairing market in the coming years. For instance, in September 2023, as reported by the United Nations Conference on Trade and Development, the maritime trade is expected to witness a 2.4% increase in 2023 and a growth of over 2% from 2024 to 2028. Hence, the upsurge in global trade is a driving force behind the growth of the shipbuilding and repairing market.
Shipbuilding firms worldwide are increasingly adopting green shipbuilding technologies to adhere to environmental regulations. For instance, Japanese non-profit NGO Peace Boat has collaborated with Finnish shipbuilding company Arctech Helsinki Shipyard to construct Ecoship, recognized as the world's greenest cruise vessel. The Dean Shipyards Group is leading the green LeanShips project, aiming to create vessels with reduced pollution.
Key companies in the shipbuilding and repairing market are introducing innovative products such as green container ships to cater to broader customer bases, increase sales, and enhance revenue. In April 2023, Denmark-based shipping company Maersk A/S launched a green methanol-powered container ship. Notably, it is a feeder ship with a 2,100 TEU capacity, representing the first of nineteen carbon-neutral vessels fueled by green methanol. Maersk has actively secured suppliers for the roughly 1 million metric tons of green methanol fuel required annually to power its methanol-fueled fleet. This initiative is anticipated to prevent atmospheric emissions of approximately 2.3 million metric tons of CO2 per year compared to conventional fuel-powered ships.
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Report Scope
Markets Covered:
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
Key Companies Profiled: Hyundai Heavy Industries; Samsung Heavy Industries Co., Ltd.; Daewoo Shipbuilding & Marine Engineering Co Ltd; Fincantieri S.p.A.; General Dynamics Corporation
Countries: Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa
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.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Key Attributes
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