Fairfield Market Research Shipbuilding Market Size, Share, Analysis, Growth, Type 2030

Shipbuilding Market

Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

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Rapidly Increasing International Seaborne Trade to Fuel Growth of Shipbuilding Market

Maritime transport, which supports supply chains and facilitates international trade, is the backbone of globalisation and industrialisation. This is driving the global shipbuilding market. The demand for bulk materials like crude oil, steel, and ore, as well as completed products like vehicles, has increased significantly in the previous decade, especially from developing countries. Around 80% of global trade is transported by sea or other waterways and handled by seaports around the world.

Furthermore, a steady increase in international seaborne trade or marine transport is predicted to increase demand for tankers, cargo ships, and bulk carriers, bolstering the shipbuilding industry's prospects. For instance, in terms of both exports and imports, developing economies continued to account for the biggest proportion of global seaborne commerce in 2020. The seaborne commerce accounted around 59.5 percent of the world's total commerce. Asia's supremacy as a major marine freight region continues unabated. In 2020, Asian ports, both developed and developing, loaded over 4.4 billion tonnes of cargo, accounting for more than 41.3 percent of all commodities loaded in ports worldwide. In 2020, Asian ports received around 7.0 billion tonnes or 65.5 percent of total cargo released worldwide.

The demand for efficient and cost-effective transportation alternatives for the movement of commodities is driving the development of environmentally friendly and innovative ships. Shipping huge volumes by sea are less expensive than shipping large volumes by road, rail, or air. The need for shipbuilding is likely to increase because of this scenario. The growth of the shipbuilding sector is expected to be aided by increased seaborne trade. Consumer demand is expanding due to increasing population, rising purchasing power, and rising living standards, resulting in high output and rapid industrialisation. The need for shipbuilding is likely to increase as a consequence.

Rise in Globalisation, and Flourishing Global Trade Bode Well for Commercial Transportation, Pushing Market Growth

The shipping business is structured around two key sectors: shipbuilding, and maritime transportation. Despite their vast disparities, both industries are intertwined, with a strong and direct reliance on the success of global shipbuilding market. During the projection period, the transportation segment is expected to hold the biggest market share. The market is predicted to grow due to the advent of globalisation and thriving worldwide trade. In the predicted years, commercial ships will be the main shareholders. Passengers, and cargo are transported on commercial ships. The shipbuilding market is being accelerated by an increase in Foreign Direct Investments (FDI) in the sector, expanding population in emerging nations, and an increasing number of passenger cruises.

Strong Forward and Backward Linkage Industries to Drive Growth of Shipbuilding Market in Asia Pacific

In 2021, Asia Pacific held the greatest revenue share in shipbuilding market. This is due to the presence of key manufacturing powerhouses such as China, Japan, and South Korea in the region. These businesses rely largely on external trade, which is primarily carried out by ships. This in turn drives the demand for ships on the market.  In 2021, China received over half of all Shipbuilding orders, cementing its position as a global shipbuilding powerhouse. Southeast Asia is equally concentrated in ship destruction, with Bangladesh, India, and Pakistan accounting for about 90% of global ship scrapping activities.

China overtook South Korea in terms of annual order volume by Compensated Gross Tonne (CGT) in 2021. Chinese shipbuilders got orders totalling over 22.8 million CGT throughout the year, accounting for roughly half of the global total of 45.7 million CGT. Builders in South Korea got orders worth 17.5 million CGT, or around 38% of the total volume. China dominated new container ship acquisitions; an industry that has grown as consumer goods traffic has increased. South Korea is another significant actor in the Asia Pacific area. South Korea's big three shipbuilders focused on high-margin, high-value LNG carriers in 2021 because they are more profitable. With 37 contracts, Korean shipyards rank as the top players in the LNG carrier market, with 16 for Qatar Energy's mega-order and another 15 for Petronas. According to KBS World, South Korean shipbuilders were choosier in the year 2021, preferring high-value-added projects over the total volume, resulting in decreased order numbers.

During the projection period, Europe is expected to hold a sizable share in shipbuilding market. In the construction of sophisticated boats such as ferries, cruise ships, dredgers, and superyachts, the European shipbuilding sector leads the market. The shipbuilding market makes a significant contribution to national security, and regional industrial infrastructure. These are a few of the primary variables that are propelling the industry in this area forward. During the projected period, the shipbuilding market in North America is expected to grow significantly. The United States Navy's high public financing for defence vessels, as well as growing demand for energy vessels and other private vessels, are likely to propel the industry forward.

Global Shipbuilding Market: Competitive Landscape

Companies in the market are introducing new products alongside initiation collaborations, alliances, and partnership agreements. For instance, in February 2022, Daewoo Shipbuilding & Marine Engineering Co. announced that it had received orders from Europe totalling KRW 1.8 trillion (USD 1.5 billion). Daewoo Shipbuilding will construct two liquefied natural gas carriers for Maran Gas Maritime Inc., a subsidiary of Greece's largest shipping company, Angelicoussis Shipping Group, as well as six container ships for an unnamed European shipper. On the other hand, in December 2021, the China State Shipbuilding Corporation (CSSC) announced a substantial order for vessel newbuilding and equipment worth USD 1.9 billion. Eight vessel construction contracts and eight maritime equipment project contracts are included in the orders.

Few of the players in the shipbuilding market include Bae Systems Plc, Fincantieri Group, General Dynamics Corporation, Huntington Ingalls Industries, Inc., Sumitomo Heavy Industries, Ltd, Korea Shipbuilding & Offshore Engineering Co., Ltd., Hyundai Heavy Industries Co., Ltd., Mitsubishi Heavy Industries, Ltd., Oshima Shipbuilding Co., Ltd., Damen Shipyards Group, and Samsung Heavy Industries Co., Ltd.

Regional Classification of the Global Shipbuilding Market is Listed Below:

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • Spain
  • U.K.
  • Italy
  • Russia
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific

 Latin America

  • Brazil
  • Mexico
  • Rest of Latin America

Middle East and Africa

  • GCC
  • South Africa
  • Rest of Middle East & Africa

*Regions and countries are subject to change based on data availability.

Key Elements Included In The Study: Global Shipbuilding Market

  • Shipbuilding Market by Product/Technology/Grade, Application/End-user, and Region
  • Executive Summary (Opportunity Analysis and Key Trends)
  • Historical Market Size and Estimates, Value and Volume, 2018 - 2022
  • Volume Consumption at Regional and Country Level, 2023 - 2030
  • Market Dynamics and Economic Overview
  • Market Size in Value and Volume, Growth Rates, and Forecast Figures, 2023 - 2030
  • Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
  • Regional and Product/Grade/Application/End-user Price Trends Analysis
  • Production Output Analysis (Major Producing Regions)
  • Value Chain and Five Force’s Analysis
  • Regional/Sub-region/Country Market Size and Trend Analysis
  • Company Market Share Analysis and Key Player Profiles

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1. Executive Summary
     1.1. Global Shipbuilding Market Snapshot
     1.2. Key Market Trends
     1.3. Future Projections
     1.4. Analyst Recommendations

2. Market Overview
     2.1. Market Definitions and Segmentations
     2.2. Market Dynamics
            2.2.1. Drivers
                   2.2.1.1. Driver A
                   2.2.1.2. Driver B
                   2.2.1.3. Driver C
            2.2.2. Restraints
                   2.2.2.1. Restraint 1
                   2.2.2.2. Restraint 2
            2.2.3. Market Opportunities Matrix
     2.3. Value Chain Analysis
     2.4. Porter’s Five Forces Analysis
     2.5. Covid-19 Impact Analysis
            2.5.1. Supply
            2.5.2. Demand
     2.6. Government Regulations and Polices
     2.7. Economic Analysis
     2.8. PESTLE

3. Price Trends Analysis
     3.1. Key Highlights
     3.2. Prominent Factors Affecting Prices
     3.3. Prices By Region

4. Global Shipbuilding Market Outlook, 2018 - 2030
     4.1. Global Shipbuilding Market Outlook, by Ship Type, Value (US$ Mn) and Volume (CGT), 2018 - 2030
            4.1.1. Key Highlights
                   4.1.1.1. Liquefied Gas Tanker
                   4.1.1.2. Chemicals Tanker
                   4.1.1.3. General Cargo Ship
                   4.1.1.4. Oil Tanker
                   4.1.1.5. Containership
                   4.1.1.6. Bulkers
                   4.1.1.7. Ferries
                   4.1.1.8. Cruise Ships
                   4.1.1.9. Misc. (Superyachts, etc.)
            4.1.2. BPS Analysis/Market Attractiveness Analysis
     4.2. Global Shipbuilding Market Outlook, by Region, Value (US$ Mn) and Volume (CGT), 2018 - 2030
            4.2.1. Key Highlights
                   4.2.1.1. North America
                   4.2.1.2. Europe
                   4.2.1.3. Asia Pacific
                   4.2.1.4. Latin America
                   4.2.1.5. Middle East & Africa
            4.2.2. BPS Analysis/Market Attractiveness Analysis

5. North America Shipbuilding Market Outlook, 2018 - 2030
     5.1. North America Shipbuilding Market Outlook, by Ship Type, Value (US$ Mn) and Volume (CGT), 2018 - 2030
            5.1.1. Key Highlights
                   5.1.1.1. Liquefied Gas Tanker
                   5.1.1.2. Chemicals Tanker
                   5.1.1.3. General Cargo Ship
                   5.1.1.4. Oil Tanker
                   5.1.1.5. Containership
                   5.1.1.6. Bulkers
                   5.1.1.7. Ferries
                   5.1.1.8. Cruise Ships
                   5.1.1.9. Misc. (Superyachts, etc.)
            5.1.2. BPS Analysis/Market Attractiveness Analysis
     5.2. North America Shipbuilding Market Outlook, by Country, Value (US$ Mn) and Volume (CGT), 2018 - 2030
            5.2.1. Key Highlights
                   5.2.1.1. U.S.
                   5.2.1.2. Canada
            5.2.2. BPS Analysis/Market Attractiveness Analysis

6. Europe Shipbuilding Market Outlook, 2018 - 2030
     6.1. Europe Shipbuilding Market Outlook, by Ship Type, Value (US$ Mn) and Volume (CGT), 2018 - 2030
            6.1.1. Key Highlights
                   6.1.1.1. Liquefied Gas Tanker
                   6.1.1.2. Chemicals Tanker
                   6.1.1.3. General Cargo Ship
                   6.1.1.4. Oil Tanker
                   6.1.1.5. Containership
                   6.1.1.6. Bulkers
                   6.1.1.7. Ferries
                   6.1.1.8. Cruise Ships
                   6.1.1.9. Misc. (Superyachts, etc.)
            6.1.2. BPS Analysis/Market Attractiveness Analysis
     6.2. Europe Shipbuilding Market Outlook, by Country, Value (US$ Mn) and Volume (CGT), 2018 - 2030
            6.2.1. Key Highlights
                   6.2.1.1. Germany
                   6.2.1.2. France
                   6.2.1.3. Italy
                   6.2.1.4. Finland
                   6.2.1.5. Turkey
                   6.2.1.6. Russia
                   6.2.1.7. Rest of Europe
            6.2.2. BPS Analysis/Market Attractiveness Analysis

7. Asia Pacific Shipbuilding Market Outlook, 2018 - 2030
     7.1. Asia Pacific Shipbuilding Market Outlook, by Ship Type, Value (US$ Mn) and Volume (CGT), 2018 - 2030
            7.1.1. Key Highlights
                   7.1.1.1. Liquefied Gas Tanker
                   7.1.1.2. Chemicals Tanker
                   7.1.1.3. General Cargo Ship
                   7.1.1.4. Oil Tanker
                   7.1.1.5. Containership
                   7.1.1.6. Bulkers
                   7.1.1.7. Ferries
                   7.1.1.8. Cruise Ships
                   7.1.1.9. Misc. (Superyachts, etc.)
            7.1.2. BPS Analysis/Market Attractiveness Analysis
     7.2. Asia Pacific Shipbuilding Market Outlook, by Country, Value (US$ Mn) and Volume (CGT), 2018 - 2030
            7.2.1. Key Highlights
                   7.2.1.1. China
                   7.2.1.2. South Korea
                   7.2.1.3. Japan
                   7.2.1.4. India
                   7.2.1.5. Southeast Asia
                   7.2.1.6. Rest of Asia Pacific
            7.2.2. BPS Analysis/Market Attractiveness Analysis

8. Latin America Shipbuilding Market Outlook, 2018 - 2030
     8.1. Latin America Shipbuilding Market Outlook, by Ship Type, Value (US$ Mn) and Volume (CGT), 2018 - 2030
            8.1.1. Key Highlights
                   8.1.1.1. Liquefied Gas Tanker
                   8.1.1.2. Chemicals Tanker
                   8.1.1.3. General Cargo Ship
                   8.1.1.4. Oil Tanker
                   8.1.1.5. Containership
                   8.1.1.6. Bulkers
                   8.1.1.7. Ferries
                   8.1.1.8. Cruise Ships
                   8.1.1.9. Misc. (Superyachts, etc.)
            8.1.2. BPS Analysis/Market Attractiveness Analysis
     8.2. Latin America Shipbuilding Market Outlook, by Country, Value (US$ Mn) and Volume (CGT), 2018 - 2030
            8.2.1. Key Highlights
                   8.2.1.1. Brazil
                   8.2.1.2. Argentina
                   8.2.1.3. Rest of Latin America
            8.2.2. BPS Analysis/Market Attractiveness Analysis

9. Middle East & Africa Shipbuilding Market Outlook, 2018 - 2030
     9.1. Middle East & Africa Shipbuilding Market Outlook, by Ship Type, Value (US$ Mn) and Volume (CGT), 2018 - 2030
            9.1.1. Key Highlights
                   9.1.1.1. Liquefied Gas Tanker
                   9.1.1.2. Chemicals Tanker
                   9.1.1.3. General Cargo Ship
                   9.1.1.4. Oil Tanker
                   9.1.1.5. Containership
                   9.1.1.6. Bulkers
                   9.1.1.7. Ferries
                   9.1.1.8. Cruise Ships
                   9.1.1.9. Misc. (Superyachts, etc.)
            9.1.2. BPS Analysis/Market Attractiveness Analysis
     9.2. Middle East & Africa Shipbuilding Market Outlook, by Country, Value (US$ Mn) and Volume (CGT), 2018 - 2030
            9.2.1. Key Highlights
                   9.2.1.1. GCC
                   9.2.1.2. Egypt
                   9.2.1.3. Rest of Middle East & Africa
            9.2.2. BPS Analysis/Market Attractiveness Analysis

10. Competitive Landscape
     10.1. Company Market Share Analysis, 2022
     10.2. Competitive Dashboard
     10.3. Company Profiles
            10.3.1. Hyundai Heavy Industries
                   10.3.1.1. Company Overview
                   10.3.1.2. Product Portfolio
                   10.3.1.3. Financial Overview
                   10.3.1.4. Business Strategies and Development
            10.3.2. China Shipbuilding Group (CSG)
            10.3.3. Daewoo Shipbuilding & Marine Engineering (DSME)
            10.3.4. Samsung Heavy Industries
            10.3.5. K Shipbuilding Co., Ltd.
            10.3.6. Fincantieri S.p.A.
            10.3.7. Chantiers de l’Atlantique (Formerly STX France)
            10.3.8. JSC United Shipbuilding Corporation
            10.3.9. Sumitomo Heavy Industries
            10.3.10. Mitsubishi Heavy Industries
            10.3.11. Tsuneishi Shipbuilding
            10.3.12. Imabari Shipbuilding

11. Appendix
     11.1. Research Methodology
     11.2. Report Assumptions
     11.3. Acronyms and Abbreviations

Our Research Methodology

Considering the volatility of business today, traditional approaches to strategizing a game plan can be unfruitful if not detrimental. True ambiguity is no way to determine a forecast. A myriad of predetermined factors must be accounted for such as the degree of risk involved, the magnitude of circumstances, as well as conditions or consequences that are not known or unpredictable. To circumvent binary views that cast uncertainty, the application of market research intelligence to strategically posture, move, and enable actionable outcomes is necessary.

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