Global Ship Building Market Size, Drivers, Trends, Opportunities And Strategies – Includes Ship Building Market Analysis
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The increasing seaborne trade are expected to drive innovation in ship building manufacturing, thus driving the market during the forecast period.
The global ship building market is expected to grow from $193.66 billion in 2022 to $209.13 billion in 2023 at a compound annual growth rate (CAGR) of 8.0%. The global ship building market size is expected to grow to $279.03 billion in 2027 at a CAGR of 7.5%.
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Global Ship Building Market Segments Include:
- By Product:Bulkers, Tankers, Containers, Cruise and Ferry, Other Products
- By Application:Passenger Transportation, Goods Transportation
- By End-User:Transport Companies, Military, Other End Users
- By Geography:The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global ship building market in 2021.
Major Market Players in the ship building market include Hyundai Heavy Industries, Daewoo Ship Building & Marine Engineering Co. Ltd., Mitsubishi Heavy Industries, Samsung Heavy Industries, BAE Systems PLC.
The use of 3D printing technology in shipbuilding is a leading trend being observed in the shipbuilding market in recent years. 3D printing, also known as additive manufacturing, is gaining popularity in every sector connected to manufacturing and engineering, including shipbuilding. The companies operating in the shipbuilding market are collaborating with other players in the industry to adopt advanced manufacturing technologies, including 3D printing, to enhance their manufacturing capabilities. For instance, in 2021, U.S. 3D printer OEM 3D Systems is working with the military shipbuilding industry, Huntington Ingalls Industries, to develop new corrosion-proof metal powders for maritime 3D printing applications. Working with Huntington Ingalls Industries’ Newport News Shipbuilding division, 3D Systems is formulating novel Copper-Nickel and Nickel-Copper alloys that are particularly designed to produce robust, temperature-resistant parts.
The Ship Building Global Market Report 2023 provides a ship building market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The ship building market forecast analyzes ship building market size, ship building market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Shipbuilding refers to building a new ship from the ground up to completion based on the required design. Shipbuilding typically occurs in a specialised space known as a shipyard.
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