Ship Building Market

Global Ship Building Market

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Raksha

Author:

Raksha Sharma

Vineet

Fact-checked by:

Vineet Pandey

Rucha

Editor:

Rucha Phatak

The global ship building market size is anticipated to expand at substantial CAGR during the forecast period, between 2021 and 2028. Ships are a vital source of transportation for countries all over the world, and the shipbuilding industry plays an important role in their development. The backbone of international trade and the manufacturing supply chain is marine transport. Rising consumer demand in developing nations raised trade volume by more than 15%. Moreover, continuous growth in the global naval defence spending and increasing demand for war ships are expected to drive the market in the future.

Ship Building Market_Key Takeaways

Market Trends, Drivers, Restraints, and Opportunities:

  • Increasing demand for maritime transport and subsequent rise in the number of imports and exports across the world are fueling the market.
  • Rising demand for eco-friendly ships and shipping services and goal of reduction of carbon emissions are expected to drive the demand in the coming years.
  • Free trade agreements enabled reduction in duties and taxes, which is anticipated to boost the market during the forecast period.
  • Government investments for port development and development of low carbon emission containers are projected to drive the market.
  • Trade ban and high taxes are expected to hamper the market growth.
  • Decreasing global product demand is anticipated to hamper the market growth in the coming years.
  • Increasing automation and implementation of robotic technology in shipping industries are anticipated to provide lucrative opportunities for market players during the forecast period.

Scope of the report:

The report on the global ship building market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes

Details

Report Title

Ship Building Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018 & 2019

Forecast Period

2021–2028

Segmentation

Types (General Cargo Ships, Naval & special ships, Oil Tankers, Bulk Carriers, Container Ships, Passenger Ships, and Others [LPG Carriers, Roll-on/Roll-off, LNG Carriers, Chemical Carriers, and specialty vessels]), End-users (Transport Companies, Military, and Others)

Regional Scope

Asia Pacific, North America, Europe, Latin America, and Middle East & Africa

Report Coverage

Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast

Key Players Covered in the Report

Mitsubishi Heavy Industries, Oshima Shipbuilding co. ltd, Samsung Heavy Industries, Damen Shipyards group, Fincantieri group, General Dynamics corporation, Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering (DSME), China Shipbuilding Group, Imabari Shipbuilding, JSC United Shipbuilding Corporation, Fincantieri S.p.A.

Global Ship building Market Segment Insights:

High demand for bulk carriers to drive the market

In terms of types, the global ship building market is divided into general cargo ships, naval & special ships, oil tankers, bulk carriers, container ships, passenger ships, and others. The bulk carriers segment held a considerable share of the market in 2020, owing to growing consumer demand for foreign goods and infrastructure developments in developing countries that fueled large-scale bulk purchases, especially in coal, steel and iron ore. Bauxite, cement, fertilizers, rice, sugar, and timber are among the bulk commodities transported through bulk carriers. Bulk carriers are an environmentally efficient way to carry big amounts of dry cargo over long distances, emitting only 6.5 gCO2/ton nm.

Frequent transport of goods by the shipping industry to drive the market

On the basis of end-users, the ship building market is segmented into transport companies, military, and others. The transport companies segment is expected to hold a significant share of the market during the forecast period, as to the shipping industry moves almost 1 billion tons of iron ore, 2 billion tons of crude oil, and 350 million tons of grain per year. According to the International Chamber of Shipping, the yearly value of global shipping trade exceeded 14 trillion US dollars in 2019. Shipping accounts for 80% of total exports and imports by volume and 50% by value in an economic region such as the European Union.

Ship Building Market_By End Users

Rising ship building industry in Asia Pacific to drive the market

Based on regions, the ship building market is split into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific constituted a significant share of the market, due to the rising ship building industry in Japan, South Korea, and China. In 2021, global ship orders accounted for 45.73 million compensated gross tons (CGTs), with 22.8 million CGTs in China and 17.35 million CGTs in South Korea. (Source Clarkson)

According to statistics from the China Association of the National Shipbuilding Industry, in-hand ship orders in China reached 96.3 million deadweight tons by the end of November 2021, up by 35.9% year on year.

Segments

By Types
  • General Cargo Ships
  • Naval & special ships
  • Oil Tankers
  • Bulk Carriers
  • Container Ships
  • Passenger Ships
  • Others
  • LPG Carriers
  • Roll-on/Roll-off
  • LNG Carriers
  • Chemical Carriers
  • specialty vessels
End-users
  • Transport Companies
  • Military
  • Others
By Regions
  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Middle East & Africa
Key Players
  • Mitsubishi Heavy Industries
  • Oshima Shipbuilding co. ltd
  • Samsung Heavy Industries
  • Damen Shipyards group
  • Fincantieri group
  • General Dynamics corporation
  • Hyundai Heavy Industries
  • Daewoo Shipbuilding & Marine Engineering (DSME)
  • China Shipbuilding Group
  • Imabari Shipbuilding
  • JSC United Shipbuilding Corporation
  • Fincantieri S.p.A.

Competitive Landscape

Key players in the global ship-building market include Mitsubishi Heavy Industries, Oshima Shipbuilding co. ltd, Samsung Heavy Industries, Damen Shipyards group, Fincantieri group, General Dynamics corporation, Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering (DSME), China Shipbuilding Group, Imabari Shipbuilding, JSC United Shipbuilding Corporation, Fincantieri S.p.A. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.

In 2019, China's two major shipbuilding enterprises, China State Shipbuilding Corporation (CSSC) and China Shipbuilding Industry Corporation (CSIC), merged to form the world's largest shipbuilding company.

In 2018 Fincantieri has expanded its European presence by purchasing 50% of STX France, which is part of the STX Europe Corporation. It has also created services for shipbuilding in the region in the United States.

Ship Building Market_By Key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Ship Building Market Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Ship Building Market Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Ship Building Market Market - Supply Chain
  4.5. Global Ship Building Market Market Forecast
     4.5.1. Ship Building Market Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Ship Building Market Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Ship Building Market Market Absolute $ Opportunity
5. Global Ship Building Market Market Analysis and Forecast by End Users
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by End Users
     5.2.2. Y-o-Y Growth Projections by End Users
  5.3. Ship Building Market Market Size and Volume Forecast by End Users
     5.3.1. Transport Companies Military Others
  5.4. Absolute $ Opportunity Assessment by End Users
  5.5. Market Attractiveness/Growth Potential Analysis by End Users
6. Global Ship Building Market Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Ship Building Market Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Ship Building Market Demand Share Forecast, 2019-2026
7. North America Ship Building Market Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Ship Building Market Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Ship Building Market Market Size and Volume Forecast by End Users
     7.4.1. Transport Companies Military Others
  7.5. Basis Point Share (BPS) Analysis by End Users
  7.6. Y-o-Y Growth Projections by End Users
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Ship Building Market Demand Share Forecast, 2019-2026
8. Latin America Ship Building Market Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Ship Building Market Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Ship Building Market Market Size and Volume Forecast by End Users
     8.4.1. Transport Companies Military Others
  8.5. Basis Point Share (BPS) Analysis by End Users
  8.6. Y-o-Y Growth Projections by End Users
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Ship Building Market Demand Share Forecast, 2019-2026
9. Europe Ship Building Market Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Ship Building Market Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Ship Building Market Market Size and Volume Forecast by End Users
     9.4.1. Transport Companies Military Others
  9.5. Basis Point Share (BPS) Analysis by End Users
  9.6. Y-o-Y Growth Projections by End Users
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Ship Building Market Demand Share Forecast, 2019-2026
10. Asia Pacific Ship Building Market Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Ship Building Market Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Ship Building Market Market Size and Volume Forecast by End Users
     10.4.1. Transport Companies Military Others
  10.5. Basis Point Share (BPS) Analysis by End Users
  10.6. Y-o-Y Growth Projections by End Users
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Ship Building Market Demand Share Forecast, 2019-2026
11. Middle East & Africa Ship Building Market Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Ship Building Market Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Ship Building Market Market Size and Volume Forecast by End Users
     11.4.1. Transport Companies Military Others
  11.5. Basis Point Share (BPS) Analysis by End Users
  11.6. Y-o-Y Growth Projections by End Users
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Ship Building Market Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Ship Building Market Market: Market Share Analysis
  12.2. Ship Building Market Distributors and Customers
  12.3. Ship Building Market Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Mitsubishi Heavy Industries Oshima Shipbuilding co. ltd Samsung Heavy Industries Damen Shipyards group Fincantieri group General Dynamics corporation  

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