Shipbuilding Market Size to Grow by USD 13.24 Billion | Market Research Insights Highlight the Increasing Seaborne Trading as Key Driver | Technavio

NEW YORK, Nov. 16, 2021 /PRNewswire/ — According to the research report «Shipbuilding Market – Forecast and Analysis Report 2021-2025»,…

NEW YORK, Nov. 16, 2021 /PRNewswire/ — According to the research report «Shipbuilding Market – Forecast and Analysis Report 2021-2025«, the market witnessed a YOY growth rate of 3.12% in 2020. The market is expected to witness an accelerating CAGR of 2.73% between 2020 and 2025. The report is segmented by application (commercial and defense) and geography (APAC, Europe, South America, North America, and MEA). 

APAC will register the highest growth rate of 92% among the other regions. Therefore, the shipbuilding market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.

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Vendor Insights 

The Shipbuilding Market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

The report also offers information on several market vendors, including BAE Systems Plc, Damen Shipyards Group NV, Fincantieri Spa, General Dynamics Corp., Huntington Ingalls Industries Inc., Hyundai Heavy Industries Co. Ltd., Mitsubishi Heavy Industries Ltd., Oshima Shipbuilding Co. Ltd., Samsung Heavy Industries Co. Ltd., and Sumitomo Heavy Industries Ltd. among others.

Sumitomo Heavy Industries Ltd. – In February 2021, the company announced the launch of smartris, a drive solution for AGVs (automatic guided vehicles) and AMRs (autonomous mobile robots) that consists of three key components, namely gear, servo motor, and driver


The report analyzes the market’s competitive landscape and offers information on several market vendors, including: 

  • BAE Systems Plc
  • Damen Shipyards Group NV
  • Fincantieri Spa
  • General Dynamics Corp.
  • Huntington Ingalls Industries Inc.
  • Hyundai Heavy Industries Co. Ltd.
  • Mitsubishi Heavy Industries Ltd.
  • Oshima Shipbuilding Co. Ltd.
  • Samsung Heavy Industries Co. Ltd.
  • Sumitomo Heavy Industries Ltd.

Find additional highlights on the growth strategies adopted by vendors and their product offerings. Read Free Sample Report. 

Geographical Market Analysis 

92% of the market’s growth will originate from APAC during the forecast period. China, South Korea (Republic of Korea), The Philippines, and Japan are the key markets for shipbuilding in APAC. Market growth in this region will be faster than the growth of the market in regions.

Know more about this market’s geographical distribution along with the detailed analysis of the top regions. https://www.technavio.com/report/shipbuilding-market-industry-analysis 

Key Market Trends & Challenges: 

The increase in demand for eco-friendly ships is one of the prominent trends that is likely to positively impact the market growth. Governments and international organizations are introducing many regulations related to reducing the negative effects of ships and vessels on the environment. This is because shipping includes several environmental impacts of shipping including greenhouse gas emissions as well as oil pollution. The rising environmental regulations should increase the demand for eco-friendly ships that adhere to the latest emission norms. The trend is expected to continue during the forecast period.

The uncertainties associated with crude oil prices is one of the prominent challenges likely to hinder the market growth. The global crude oil market showcases high volatile nature because prices have recorded several highs and lows in the recent past. Frequent fluctuations in global crude oil prices disrupt various activities in the oil and gas value chain. The rapid fall in the prices has triggered a massive withdrawal of investments, as oil companies have cut down offshore exploration and production activities. This has decreased the demand for offshore vessels as well as oil tankers. Therefore, the volatility in crude oil prices poses a challenge for the growth of the global shipbuilding market.

View free sample for highlights on market Trends & Challenges affecting the Shipbuilding Market. 

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Shipbuilding Market Value Chain Analysis 

It includes the following core components: 

  • Inputs
  • Inbound logistics
  • Operations
  • Distribution and logistics
  • Marketing and sales
  • Aftermarket and service
  • Industry innovations

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Shipbuilding Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 2.73%

Market growth 2021-2025

USD 13.24 billion

Market structure

Fragmented

YoY growth (%)

3.12

Regional analysis

APAC, Europe, South America, North America, and MEA

Performing market contribution

APAC at 92%

Key consumer countries

China, South Korea (Republic of Korea), Japan, The Philippines, and Poland

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

BAE Systems Plc, Damen Shipyards Group NV, Fincantieri Spa, General Dynamics Corp., Huntington Ingalls Industries Inc., Hyundai Heavy Industries Co. Ltd., Mitsubishi Heavy Industries Ltd., Oshima Shipbuilding Co. Ltd., Samsung Heavy Industries Co. Ltd., and Sumitomo Heavy Industries Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Us: 

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. 

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