Global ship repairing Market

Autonomous Cars Market Definition

The autonomous ships market consists of sales of autonomous ships and related services. The autonomous ship is also known as crewless watercraft piloted by artificial intelligence (AI) without human interference. These ships are unmanned and function autonomously as a type of seafaring drone. Autonomous ships work on artificial intelligence technology and sensors which include lidar, radar, high definition cameras, sonar, and thermal imaging. The various levels of autonomous operations comprise fully manned to partially operated, partially autonomous, remote operated, and fully autonomous ships.

The market for autonomous trains consists of sales of autonomous trains, which are automatic train protection (ATP) system enabled, helps the train to automatically stop at signals with speed control. The trains are designed with high powered cameras, latest sensors, GPS data, and onboard computer systems. The data is collected from sensors and monitored at control rooms which enables the autonomous system to make an informed decision. Autonomous trains can run more frequently and achieve higher speeds, enables managers to increase the number of trains in operation on a route instead of having to go to the significant expense of building new tracks. The market consists of revenue generated by the companies manufacturing the automatic trains by the sales of these products.

The ship building market consists of sales of ships and related services by entities (organizations, sole traders, and partnerships) that operate shipyards. Shipyards are fixed amenities with fabrication and drydocks equipment capable of building a ship, defined as watercraft typically suitable or intended for other than personal or recreational use. Only goods and services traded between entities or sold to end consumers are included. The global ship building market is expected to grow from $147.98 billion in 2020 to $158.18 billion in 2021 at a compound annual growth rate (CAGR) of 6.9%. 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 $186.6 billion in 2025 at a CAGR of 4.2%. The ship building market covered in this report is segmented by product into bulkers; tankers; containers; cruise and ferry; others and by application into passenger transportation; goods transportation. The increasing seaborne trade is predicted to contribute to the growth of the ship building market. The rising population, surging purchasing power of consumers, and improving standards of living are increasing the demand for consumer goods leading to high production and rapid industrialization. According to the United Nations Conference on Trade and Development (UNCTAD), international seaborne trade volume increased from 10.7 billion tons in 2017 to 11.0 billion tons in 2018 and is projected to expand at an average annual growth rate of 3.5% during 2019-2024. The manufacturing of eco-friendly and advanced ships is supported by the increasing requirement for efficient and cost-effective transport alternatives for the movement of goods. According to Alliance Experts, transport by sea allows shipping large volumes with lesser cost than that through road, rail, and air transport. This scenario is expected to drive the demand for the ship building market. Stringent environmental regulations are expected to hinder the growth of the ship building market. This is because of the pollution derived from maritime shipping activities that affect air and water quality, and marine and estuarine biodiversity. For instance, the companies dealing in ship building in Finland have to follow all the rules under The Environmental Protection Act, a Finnish law (86/2000) created by the Ministry of Environment. Similarly, in Spain, the ship building companies are required to follow the Act of Air Quality and Protection of the Atmosphere. This scenario is likely to act as a major challenge for the ship building market’s growth. The use of 3D printing technology in ship building is a leading trend being observed in the ship building market in recent years. 3D printing, also known as additive manufacturing, is gaining popularity in every sector connected to manufacturing and engineering, including ship building. The companies operating in the ship building 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 November 2018, Huntington Ingalls Industries, a US-based ship building company, and 3D Systems collaborated to develop additive manufacturing technologies to facilitate the adoption of metal 3D printing in the ship building industry. In March 2019, Hyundai Heavy Industries (HHI) Group and Korea Development Bank (KDB) entered into a definitive agreement to acquire Daewoo Ship Building & Marine Engineering Co., Ltd (DSME). The acquisition is a part of their efforts to support the development of the ship building industry and assist in encouraging local employment and economy. KDB has transferred its shares to DSME against its equity stake in a new company named Korea Ship Building & Offshore Engineering (KSOE). KSOE will operate as a sub-holding company HHI and will control all the shipping activities of the group. Daewoo Ship Building & Marine Engineering Co., Ltd (DSME) is a South Korea-based company engaged in manufacturing commercial and naval ships. The major players covered in the global ship building market are Hyundai Heavy Industries, Daewoo Ship Building & Marine Engineering Co Ltd, Mitsubishi Heavy Industries, Samsung Heavy Industries, BAE Systems Plc, Sumitomo Heavy Industries Ltd, Damen Shipyards Group, Fincantieri Spa, General Dynamics Corp, Huntington Ingalls Industries Inc., Hyundai Heavy Industries Holdings Co. Ltd., Oshima Ship Building Co. Ltd. The countries covered in the global ship building market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global ship building market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global ship building market is segmented - 1) By Product: Bulkers, Tankers, Containers, Cruise and Ferry, Others 2) By Application: Passenger Transportation, Goods Transportation 3) By End-User: Transport Companies, Military, Others

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. 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 ship repairing market covered in this report is segmented by vessel type into oil and chemical tankers; bulk carriers; general cargo; container ships; gas carriers; offshore vessels; passenger ships and ferries; mega yachts and other vessels, and by application into general services; dockage; hull part; engine parts; electric works; auxiliary services. 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. According to the United Nations Conference on Trade and Development (UNCTAD), international seaborne trade volume increased from 10.7 billion tons in 2017 to 11.0 billion tons in 2018 and is projected to expand at an average annual growth rate of 3.5% during 2019-2024. According to the Indian Ministry of Shipping, approximately 70% of India's value trading and 95% of India's volume is handled by seaborne transport. Upswing activities in sea-borne trade activities increase the need for regular maintenance and repairs. This scenario is expected to augment the demand for the ship repairing market. The COVID-19 pandemic affected ship building and ship repair facilities globally to a great extent. The pandemic has disrupted almost every area of the shipping industry, after a promising 2019. All levels of operations were affected by yard closures, logistical challenges and survey delays, while scrubber retrofitting also declined sharply. For instance, in March 2020, the Italian shipyard Fincantieri has initially suspended manufacturing in its shipyards for two weeks due to the coronavirus crisis, which was then extended for more than a month that has impacted the business. Therefore, the impact of COVID 19 is expected to hinder the growth of the 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. In February 2020, Titan Acquisition Holdings, a bicoastal leader in ship repair and modernization and complex fabrication services for the defense industry, acquired Huntington Ingalls Industries for an undisclosed amount. This acquisition creates opportunities to better serve key defense customers, economies of scale, expanded scope, and performance optimization. Huntington Ingalls Industries, a US-based company, engages in the designing, building, overhauling, and repairing military ships. The major players covered in the global ship repairing market are Hyundai Mipo Dockyard Co., Ltd, China Shipbuilding Industry Corporation (CSIC), Damen Shipyards Group, Sembcorp Marine Ltd., Oman Drydock Company, Cochin Shipyard Limited, United Shipbuilding Corporation, Arab Shipbuilding and Repair Yard, Fincantieri S.p.A, Keppel Offshore and Marine, Orskov Yard A/S, Tsuneishi Holdings Corporation, Swissco Holdings Limited, Egyptian Ship Repair & Building Company, Desan Shipyard, Dae Sun Shipbuilding & Engineering Co. Ltd., Dundee Marine & Industrial Services Pte Ltd. The countries covered in the global ship repairing market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global ship repairing market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global ship repairing market is segmented - 1) 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 2) By Application: General Services, Dockage, Hull Part, Engine Parts, Electric Works, Auxiliary Services 3) By End-User: Transport Companies, Military, Others

The boat building market consists of sales of boats and related services by entities (organizations, sole traders, and partnerships) that operate shipyards or boatyards. Shipyards and boatyards are fixed facilities with drydocks and fabrication equipment capable of building boats, including dinghies, hovercrafts, motorboats, rowboats, yachts, sailboats, and inflatable rubber boats. Only goods and services traded between entities or sold to end consumers are included. The global boat building market is expected to grow from $34.76 billion in 2020 to $37.14 billion in 2021 at a compound annual growth rate (CAGR) of 6.8%. 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 $48.36 billion in 2025 at a CAGR of 6.8%. The boat building market covered in this report is segmented by type into recreational boats; commercial boats; military boats; others and by propulsion into motor boats; sail boats. The increasing demand for recreational boats is anticipated to boost the demand for the boat building market. Recreational boating is a popular leisure activity across the globe. Many people participate in recreational boating activities such as water skiing, fishing, and travel. According to the National Marine Manufacturers Association (NMMA) representing recreational boat, marine accessories, and engine manufacturers, the USA recreational boating industry saw a seventh consecutive year of growth in 2018 with the retail unit sales of new powerboats of about 280,000 units in 2018, highest since 2007 and the sales grew by approximately 3% to 4% in 2019. Therefore, the surge in recreational boating is likely to contribute to the demand for boat building. Environmental concerns associated with the usage of certain materials such as exotic woods, plastics, and resins during boat manufacturing is expected to limit the growth of the boat building market. Exotic woods from forests, plastics, and resins manufactured from petroleum have a significant environmental impact. There are many environmental issues associated with boat building due to hazardous chemicals used in boat building, exhaust emissions from boat engines, evaporative emissions from fuel systems, and styrene emissions. According to the United States Environmental Protection Agency, boat manufacturing has been identified as a major source of hazardous air pollution. Furthermore, global issues such as energy usage and minimizing the carbon footprint is a major challenge for players operating in the boat building market. The development of autonomous boats is gaining popularity in the boat building market. Top companies in the market are developing technologically advanced autonomous boats to maintain their position in a competitive business environment. For instance, in August 2020, Ocious Technology Ltd., an Australian public listed company, provided Australia with autonomous boats to watch out for refugees at sea. The company was awarded $5.5 billion by the Australian government’s Department of Defense for the development of autonomous unmanned surface vessels. In May 2019, Hike Metal, a Canada-based boat builder, collaborated with Sea Machine Robotics, a US-based autonomous technology company engaged in building autonomous and navigation systems for the commercial boating and marine industry, to develop an unmanned search-and-rescue (SAR) boat. In April 2020, Century Boats, an American boat building company, acquired Vanquish Boats, a US-based dayboat manufacturer for an undisclosed amount. The acquisition is expected to expand Century Boats’ dealership, distribution network, and service network. The existing models of Vanquish will be reintroduced as Century Coronado, which will add to Century Boats’ existing product portfolio. Vanquish Boats is a builder of a dual console, cuddy, premium center console, and runabout dayboats. The major players covered in the global boat building market are Armstrong Marine USA Inc., Brunswick Corporation (BC), Survitec Group, Ancasta International Boat Sales Ltd, Metal Shark, Gulf Craft LLC, Dakota Creek Industries Inc., Main Iron Works. The countries covered in the global boat building market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global boat building market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global boat building market is segmented - 1) By Type: Recreational Boats, Commercial Boats, Military Boats, Others 2) By Propulsion: Motor Boats, Sail Boats 3) By Application: Private Use, Commercial Use, Military Use

The boat repairing market consists of sales of boat repairing and related services by entities (organizations, sole traders and partnerships) that operate shipyards or boatyards. Only goods and services traded between entities or sold to end consumers are included. The global boat repairing market is expected to grow from $6.33 billion in 2020 to $6.81 billion in 2021 at a compound annual growth rate (CAGR) of 7.6%. 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 $8.75 billion in 2025 at a CAGR of 6.5%. The boat repairing market covered in this report is segmented by type into recreational boats; commercial boats; military boats; others and by propulsion into motor boats; sail boats. The increasing demand for recreational boats is anticipated to boost the demand for the boat building market. Recreational boating is a popular leisure activity across the globe. Many people participate in recreational boating activities such as water skiing, fishing, and travel. According to the National Marine Manufacturers Association (NMMA), in 2018, the estimated number of boats in the USA was 15.8 million, including the boats that are not registered. The US recreational boating industry saw a seventh consecutive year of growth in 2018 with the retail unit sales of new powerboats of about 280,000 units in 2018, highest since 2007 and the sales grew by approximately 3-4% in 2019. The surge in recreational boating is likely to contribute to the demand for the boat repair market. The maritime industry that includes shipping, boating, and sailing activities is one of the industries that has been majorly impacted due to the spread of COVID-19 disease. This epidemic has halted boating repair and related activities due to the shutdown of facilities. All commercial and marine recreational activity and personal pleasure boats have also been suspended to control the spread of the coronavirus. According to the Willis Towers Watson insights, over 3 billion citizens have been under lockdown resulting in a slowdown of economic activity and sinking of the global economy by -3.0%. The delay in re-establishing the supply chain networks and logistics capabilities will impact the boat building and repairing industry. Robots are used for performing many activities in the maritime industry, from cleaning and maintenance to full-on driverless craft, to reduce the risk for humans and to increase the efficiency of the process. For instance, the Robotic Hull Bio-Inspired Underwater Grooming Tool, also called the Hull BUG, is a small robot that attaches to the underside of a vessel to clean the surface. According to the Sea Robotics estimates, 5% of fuel efficiency from regular cleanings saves about $15 billion per year in fuel costs and reduces 1 billion tons of greenhouse gas emission. Robots are expected to offer green and eco-friendly benefits. Therefore, advanced robotics that is influencing maritime operations is a key trend in the maritime industry. The major players covered in the global boat repairing market are Brunswick, Riviera, Holyhead Boatyard, Ancasta International Boat Sales, Survitec Survival Craft, Daewoo Shipbuilding & Marine Engineering, Hyundai Heavy Industries, Mitsubishi Heavy Industries, Samsung Heavy Industries, General Dynamics. The countries covered in the global boat repairing market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global boat repairing market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global boat repairing market is segmented - 1) By Type: Recreational Boats, Commercial Boats, Military Boats, Others 2) By Propulsion: Motor Boats, Sail Boats 3) By Services: Collision Damage, Fire Damage, Submergence, Groundings, Transport Damage

The light commercial vehicle market consists of sales of light commercial vehicles and related services by entities (organizations, sole traders and partnerships) that produce complete light trucks and utility vehicles such as light duty vans, pick-up trucks, minivans, and sport utility vehicles. Only goods and services traded between entities or sold to end consumers are included. The global light commercial vehicle market is expected to grow from $440.87 billion in 2020 to $475.29 billion in 2021 at a compound annual growth rate (CAGR) of 7.8%. 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 $652.34 billion in 2025 at a CAGR of 8.2%. The light commercial vehicle market covered in this report is segmented by vehicle type into passenger van, cargo van, pickup trucks, light trucks, mini buses, others. The increase in online shopping is expected to drive the light commercial vehicles market. As urbanization has increased, it has created new retail and e-commerce platforms that require efficient logistics, which could be fulfilled by light commercial vehicles (LCV). Moreover, the current pandemic situation has spike online shopping owing to the health concerns. According to Adobe Analytics, consumers in the USA spent $2.2 billion on November 2nd, 2020, a 31% increase in year-over-year growth and another $2.0 billion on November 3rd, 2020, which was a 27% year-over-year increase. Thus, increased demand for goods through e-commerce is pushing the use of LCV in logistics paving way for growth of the light commercial vehicles market. The stringent emission norms by the government related for CO2 emissions is expected to be a major challenge for the light commercial vehicles market. In the European Union (EU), LCV CO2 emission targets in 2017 were set at 175g/km. In April 2019, the EU imposed stricter CO2 emission standards on passenger cars and LCV and came into force in January 2020. According to the new regulation standards (Regulation (EU) No 2019/631), the average CO2 emission target is 147 grams of CO2 per kilometre. The new regulations focus on reducing average CO2 emission by 31% for LCVs by 2030 as compared to 2021. The commission will impose an excess emission premium on the manufacturer of $112.15 (€95) for each g/km that is exceeded for all registered LCV if the manufacturer exceeds specific emissions target. The strict CO2 emission regulations impact the manufacturing expenditure and limit the growth of the light commercial vehicles market. Skateboard architecture is increasingly being preferred by manufacturers for high efficiency and productivity in the light commercial vehicles and turning to be a trend in the light commercial vehicles market. The skateboard architecture refers to an actual physical platform, which forms the floor of the vehicle, and incorporates the battery. For instance, in February 2020, Hyundai, partnered with Canoo, a Los Angeles-based company creating EVs, to jointly develop an electric vehicle (EV) platform. Canoo’s scalable skateboard architecture will provide a simplified and standardised development process for Hyundai and Kia electrified vehicles and this will help reduce costs. The major players covered in the global light commercial vehicle market are Daimler, Ford, Renault, Volkswagen, Ashok Leyland, Tata Motors, SML Isuzu Limited, Toyota Motor, Groupe PSA, Nissan, Volvo AB, Anhui Jianghuai Automobile, Mahindra And Mahindra Limited, VE Commercial Vehicles Limited, Avtovaz, General Motors, Honda Motor Company, Gaz Group, Hyundai Motor Company, Mitsubishi Motors, UPS, Workhorse, Dongfeng Motor Corporation, GM Holden, Mazda, Force Motors Limited, Piaggio Vehicles Private Limited, Scania Commercial Vehicles India Private Limited, GMC. The countries covered in the global light commercial vehicle market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global light commercial vehicle market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global light commercial vehicle market is segmented - 1) By Vehicle Type: Passenger Van, Cargo Van, Pickup Trucks, Light Trucks, Mini Buses, Others 2) By Fuel: Electric, Diesel, Gasoline 3) By Tonnage Capacity Type: Less Than 2.5 Tons, 2.5 To 3.5 Tons, More Than 3.5 Tons