Global Ship And Boat Building And Repairing Market Analysis 2024, Forecast To 2033
19 Jan, 2024
The ship and boat building and repairing market size has grown steadily, increasing from $284.22 billion in 2023 to $303.65 billion in 2024, exhibiting a 6.8% CAGR. This growth is attributed to economic cycles, global trade, and regulatory changes. Predictions for 2028 estimate a market size of $390.86 billion, growing at a 6.5% CAGR. Contributing factors include sustainability, environmental regulations, energy transition, digitalization, automation, infrastructure investment, and geopolitical stability. Trends in the forecast period emphasize electrification, lightweighting, advanced materials, additive manufacturing, digitalization, connectivity, collaboration, and partnerships.
Global Ship And Boat Building And Repairing Market Key Driver
The ship and boat building and repair market benefit from stable economic growth forecasts globally. The International Monetary Fund (IMF) predicts a 3.3% global GDP growth in 2020 and 3.4% in 2021, fostering market growth. Recovering commodity prices and stable growth in developed economies, coupled with faster growth in emerging markets, drive investments in end-user markets, fueling the ship and boat building and repair market.
Get A Free Sample Of The Global Ship And Boat Building And Repairing Market ReportGlobal Ship And Boat Building And Repairing Market Segments
The ship and boat building and repairing market covered in this report is segmented –
1) By Type: Ship Building And Repairing, Boat Building And Repairing
2) By Application: General Services, Dockage, Hull Part, Engine Parts, Electric Works, Auxiliary Services
3) By End-User: Transport Companies, Military, Other End Users
Subsegments Covered: Ship Building, Ship Repairing, Boat Building, Boat Repairing
By Geography: The regions covered in the ship and boat building and repairing market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions
Asia-Pacific was the largest region in the ship and boat building and repairing market in 2023. Western Europe was the second largest market in ship and boat building and repairing market. The regions covered in the ship and boat building and repairing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa.
Major Ship And Boat Building And Repairing Industry Players
Samsung Heavy Industries Co. Ltd., Daewoo shipbuilding & marine engineering, BRP Inc., Brunswick Corporation, Fincantieri SpA, Huntington Ingalls Industries Inc., China Shipbuilding Industry Corporation, China CSSC Holdings Limited, Berkshire Hathaway Inc., General Dynamics Corp., Mitsubishi Heavy Industries Ltd., Austal Limited, Hyundai Mipo Dockyard Co Ltd., Damen Shipyards Group, Sembcorp Marine Ltd., Oman Drydock Company, Cochin Shipyard Limited, United Shipbuilding Corporation, Arab Shipbuilding and Repair Yard, Bae Systems Norfolk Ship Repair Inc., Conrad Shipyard L.L.C., Irving Shipbuilding, Seaspan ULC, Toronto Drydock Company, James Marine Inc., Trident Maritime Systems Inc., Reliance Naval and Engineering Limited, Bharati Defence And Infrastructure Limited, ABG Shipyard Limited, Western India Shipyard Limited, Titagarh Marine Limited
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Ship And Boat Building And Repairing Market Overview
Ship and boat building refers to building a new ship or boat from the ground up to completion based on the required design. Ship Repair is the service provided after the sale of the product because it involves giving the ship regular maintenance.
Ship And Boat Building And Repairing Global Market Report 2023 provides data on the global ship and boat building and repairing market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The ship and boat building and repairing market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.