The Global Shipbuilding Market was valued at USD 240.12 Billion in the year 2020. As ships are the key mode of transportation for countries around the world, the shipbuilding sector forms an integral part in the development of nations. Overall, the Commercial Ship Business sector may see a slight increase in orders compared to 2020. New orders are expected to resume, backed up by the implementation of full-scale LNG projects. Demand for new container ships is also expected to pick up, spurred by the improved VLCC market resulting from reinforced environmental regulations, replacement of aging ships, and ship efficiency optimizations.
Mergers and Acquisitions (M&A) are common business strategies that major corporations adopt to expand and grow their businesses globally. Some of the notable M&A include AP Moller-Maersk and Hapag-Lloyd (Wagner, 2015). The adverse effects of fuel prices, low freight rates and the high number of small ship sizes in the industry propelled most companies in the industry to pool resources together to compete with big liners in the industry.
Several developed countries are striving to maintain their competitiveness in shipbuilding and offshore industries and governments are directly or indirectly supporting their shipbuilding industries. The development of a successful shipbuilding sector has been crucial to the rapid and robust economic development in most countries in the world with long coastal boundaries.
Bulker Ship Types are expected to hold the major share of Shipbuilding Market. There are several different types of bulk carriers with the main distinction between each other being their size. The larger Dry Bulk carriers are also starting to undergo a degree of digitalization, as some mining companies have launched digital platforms on which shippers compete to win the cargo.Transportation Application Type is expected to hold a very larger market share of Shipbuilding Market than other application Type. The Defence ship are also gaining the market as each country are strengthening their marine ship defense.
Scope of the Report
- The report analyses the Shipbuilding Market by Ship Orders (Million dwt), Ship Delivered (Million dwt) and Ship Sales (Units).
- The report analyses the Shipbuilding Market by value (USD Billion).
- The report analyses the Shipbuilding Market by Ship Type (Tankers, Containers, Bulkers, Others).
- The report analyses the Shipbuilding Market by Application Type (Defence, Transportation, Leisure & Luxury, Others).
- The Global Shipbuilding Market has been analysed By Region (United States, Canada, Mexico, Brazil, Germany, France, Italy, China, Japan, South Korea).
- The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis.
- Also, the attractiveness of the market has been presented by Ship Type, by Application Type, by region.
- Also, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.
- The report tracks competitive developments, strategies, mergers and acquisitions and new Ship Type development. The companies analysed in the report include: Hyundai Heavy Industries Co. Ltd, Daewoo Shipbuilding & Marine Engineering Co., Ltd, Samsung Heavy Industries, China Shipbuilding Industry Corporation, China State Shipbuilding Corporation Ltd., Mitsubishi Heavy Industries, Fincantieri, Sumitomo Heavy Industries, Ltd., STX Offshore & Shipbuilding Co. Ltd, The United Shipbuilding Corporation.
- The report presents the analysis of Shipbuilding Market for the historical period of 2016-2020 and the forecast period of 2021-2026.
Key Target Audience
- Shipbuilding Companies
- Consulting and Advisory Firms
- Government and Policy Makers
- Regulatory Authorities