- Cruise and Ferry
Shipbuilding Market size was valued at USD 124.5 billion in 2021 and is expected to reach USD 190.7 billion by 2028, at a CAGR of 5.7% during the forecast period 2022-2028. The key factors driving are rapid industrialization and economic liberalization. During the forecast period, this is one of the main factors responsible for driving the market growth. Flourishing economic activities, such as foreign direct investment, have contributed to an increase in the buying power of consumers. This amplified the market for consumer goods. In exchange, this is expected to fuel the growth of the overall market. However, the rise in seaborne trade is expected to provide enormous growth opportunities, although fluctuations in the price of raw materials are expected to serve as a constraint on business growth. This report studies global shipbuilding market dynamics elaborately to identify the current trends & drivers, future opportunities, and possible challenges to the key stakeholders operating in the market. In addition, the global shipbuilding market report includes human demographics, regulatory scenario, and competition analysis with a vividly illustrated competition dashboard to assess the market competition. Moreover, PBI analyzed the global market to better equip clients with possible investment opportunities across the regions and market unmet needs.
Fastest Growing Market
The design and construction of ocean-going vessels is the responsibility of the shipbuilding industry. Today, much of the global production of ships is concentrated in Asian countries such as China, Japan and South Korea, although many other countries also have large shipyards. In the design and modification of ships, the shipbuilding industry is involved and these activities are carried out in specialized facilities called shipyards. The shipbuilding industry mainly supplies the shipping industry and, thus, it is difficult to address a shipbuilding cycle entirely outside the context of a shipping cycle. Shipbuilding cycles are primarily caused by supply-demand differences in the shipping industry.
2021 is the base year and 2028 is the forecast year.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.