Ship Repairing Global Market To Reach Value Of $39 Billion In 2025

22 Sep, 2021

The ship repairing market consists of revenue generated by sales of ship repairing services by entities (organizations, sole traders and partnerships) that operate shipyards. Only goods and services traded between entities or sold to end consumers are included.

Global Ship Repairing Market Size And Drivers:

The global ship repairing market is expected to grow from $30.16 billion in 2020 to $32.29 billion in 2021 at a compound annual growth rate (CAGR) of 7.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $39.04 billion in 2025 at a CAGR of 4.9%. The increasing seaborne trade is anticipated to drive the growth of the ship repairing market. Seaborne transport, which plays a key role in the development of a country, involves ports, inland water systems, ship repair, shipping and ship building.

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Trends In The Global Ship Repairing Market

Major companies in the ship repair sector are concentrating on the development of advanced technology services for ship repair. For example, in February 2020, Maindeck, a modern SaaS for the ship maintenance and repair industry, with a particular emphasis on dry-docking projects, launched a mobile inspection app from which they can delegate access to specific sections of the project. The app operates offline and immediately uploads when internet access is detected.

Global Ship Repairing Market Segments:
The global ship repairing market is further segmented –
By Vessel Type: Oil and Chemical Tankers, Bulk Carriers, General Cargo, Container Ships, Gas Carriers, Offshore Vessels, Passenger Ships and Ferries, Mega Yachts and Other Vessels
By Application: General Services, Dockage, Hull Part, Engine Parts, Electric Works, Auxiliary Services
By End-User: Transport Companies, Military, Others
By Geography: The global ship repairing market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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Ship Repairing Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides ship repairing market overviews, analyzes and forecasts market size and growth for the global ship repairing market, ship repairing market share, ship repairing market players, ship repairing market segments and geographies, ship repairing market’s leading competitors’ revenues, profiles and market shares. The ship repairing market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.