Global ship repairing Market

The ship and boat building and repairing market consists of sales of ships and boats and ship and boat building and repairing services and related services by entities (organizations, sole traders, and partnerships) that operate shipyards. Shipyards are fixed facilities with drydocks and fabrication equipment capable of building a ship, defined as watercraft typically suitable or intended for other than personal or recreational use. The main types in ship and boat building and repairing market are shipbuilding and repairing, boat building and repairing. Repairing refers to the servicing and maintaining motor vehicles such as overhauling motor vehicles, replacing components of motor vehicles, modifying and changing motor vehicles, and painting the surfaces of motor vehicles. The various applications include general services, dockage, hull part, engine parts, electric works, auxiliary services. These are used in transport companies, the military, other end users. The global ship and boat building and repairing market size is expected to grow from $243.12 billion in 2021 to $265.7 billion in 2022 at a compound annual growth rate (CAGR) of 9.3%. The global ship and boat building and repairing market size is expected to grow to $369.44 billion in 2026 at a CAGR of 8.6%. The ship and boat building and repairing market is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth is expected to increase investments at the end-user markets, thereby driving the market during the forecast period. The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the ship and boat building and repairing market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China, and spread globally including Western Europe, North America, and Asia. Transportation manufacturers depend heavily on the supply of parts and components from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of parts and components. Also, sales of new automobiles decreased significantly due to a decline in consumer demand as many countries impose lockdowns. The outbreak continued to hurt businesses throughout 2020 and into 2021. However, it is expected that the ship and boat building and repairing market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy. Shipbuilding companies around the world are increasingly using green shipbuilding technologies to comply with environmental rules and regulations. Technologies being used for shipbuilding include ships with no ballast systems that block organisms entering the ship and eliminate the need for sterilization equipment, sulfur scrubber systems, waste heat recovery systems, speed nozzles, exhaust gas recirculation systems, advanced rudder and propeller systems, fuel and solar cell propulsion systems and use of LNG fuels for propulsion and auxiliary engines. Ships built using these technologies have significant energy savings and low carbon emissions. For instance, Peace Boat, a Japanese non-profit NGO has entered into an agreement with a Finnish shipbuilding company Arctech Helsinki Shipyard for the construction of Ecoship, the world's greenest cruise vessel. Dean Shipyards Group is also coordinating a green LeanShips project aimed at creating less polluting vessels. Major companies in the ship and boat building and repairing market include Samsung Heavy Industries Co Ltd, Daewoo shipbuilding & marine engineering, BRP Inc., BRUNSWICK CORPORATION, Fincantieri SpA, General Dynamics, Huntington Ingalls Industries, China Shipbuilding Industry Corp, China CSSC Holdings Limited, and Berkshire Hathaway Inc. Asia Pacific was the largest region in the ship and boat building and repairing market in 2021. Western Europe was the second largest market in the global ship and boat building and repairing market. The regions covered in the global ship and boat building and repairing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa. The countries of the ship and boat building and repairing market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The global ship and boat building and repairing market is segmented - 1) By Type: Shipbuilding 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, Others Subsegments Covered: Shipbuilding, Ship Repairing, Boat Building, Boat Repairing

The shipbuilding 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 main types of shipbuilding are bulkers, tankers, containers, cruise and ferry, other types. Container ships are equipped with no hatches, that is, the ship has no continuous main deck running full breadth all along with the ship, as well as other types of well such as passenger transportation, goods transportation. The various applications include passenger transportation, goods transportation. These are used in transport companies, the military, other end-user. The global shipbuilding market size is expected to grow from $178.52 billion in 2021 to $194.34 billion in 2022 at a compound annual growth rate (CAGR) of 8.9%. The global shipbuilding market is expected to grow to $266.64 billion in 2026 at a CAGR of 8.2%. The increasing seaborne trade is predicted to contribute to the growth of the shipbuilding 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. For instance, according to Hellenic Shipping News data 2021, In the first 10 months of 2021, the global seaborne coal trade increased by +5.1% y-o-y to 984.7 mln tonnes, from 936.7 mln tonnes in the January-October 2020 period. 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 shipbuilding marketThe increasing seaborne trade is predicted to contribute to the growth of the shipbuilding 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. This scenario is expected to drive the demand for the shipbuilding market. Stringent environmental regulations are expected to hinder the growth of the shipbuilding 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 shipbuilding 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, 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 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 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 submit robust, temperature-resistant parts. In March 2019, Hyundai Heavy Industries (HHI) Group and Korea Development Bank (KDB) entered into a definitive agreement to acquire Daewoo Shipbuilding & Marine Engineering Co., Ltd (DSME). The acquisition is a part of their efforts to support the development of the shipbuilding 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 Shipbuilding & Offshore Engineering (KSOE). KSOE will operate as a sub-holding company HHI and will control all the shipping activities of the group. Daewoo Shipbuilding & Marine Engineering Co., Ltd (DSME) is a South Korea-based company engaged in manufacturing commercial and naval ships. Major players in the shipbuilding market are Hyundai Heavy Industries, Daewoo Shipbuilding & 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, and Huntington Ingalls Industries Inc. Asia-Pacific was the largest region in the shipbuilding market in 2021. Western Europe was the second largest market in the global shipbuilding market. The regions covered in the global shipbuilding market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa. The countries in the shipbuilding market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, USA. The global shipbuilding 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 transport market consists of sales of transportation equipment and related services by entities (organizations, sole traders, and partnerships) that produce equipment for transporting people and goods. Transportation equipment is a type of machinery. The main types in the transport market are motor vehicle parts, motor vehicles, train and components, trailer, motor home, travel trailer and camper, ship and boat building and repairing, all other transportation equipment. The motor vehicle parts refer to the parts of the vehicles such as bicycles, cycles, and other types. The various applications include general services, dockage, hull part, engine parts, electric works, auxiliary services. These are used in transport companies, the military, other end users. The global transport market size is expected to grow from $5,345.15 billion in 2021 to $5,910.51 billion in 2022 at a compound annual growth rate (CAGR) of 10.6%. The global transport market is then expected to grow to $8,511.38 billion in 2026 at a CAGR of 9.5%. The transport manufacturing market is aided by the rapid economic growth of developing countries during the historic period. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth is expected to increase investments at the end-user markets, thereby driving the market during the forecast period. The outbreak of the Coronavirus disease (COVID-19) has acted as a massive restraint on the transportation manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China, and spread globally including Western Europe, North America, and Asia. Transportation manufacturers depend heavily on the supply of parts and components from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of parts and components. Also, sales of new automobiles decreased significantly due to a decline in consumer demand as many countries impose lockdowns. The outbreak continued to hurt businesses throughout 2020 and into 2021. However, it is expected that the transportation manufacturing market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy. Virtual reality and augmented reality technologies are being widely used by transportation manufacturing companies for the faster creation of physical prototypes and to reduce manufacturing defects. While AR is a real-time integration of digital information with the user's environment, VR is a three-dimensional, computer-generated environment that can be explored and interacted with. These technologies benefit the manufacturing process by reducing rework, increasing quality, lowering labor costs, meeting timelines, improving safety, streamlining collaboration, design analysis approach, improving accuracy, aid in project management, and presentation of product plans. Major transportation manufacturing companies utilizing AR and VR technologies include Toyota, Volkswagen Group, General Motors, and Daimler AG. Major companies in the transport market include Toyota Motor Corp, Volkswagen AG, Daimler AG, EXOR Group, Fiat Chrysler Automobiles NV, Ford Motor Co, SAIC Motor Co Ltd, Honda Motor Co Ltd, General Motors Co, and Peugeot. Asia Pacific was the largest region in the transport market in 2021. Western Europe was the second largest market in the global transport market during the forecast period. The regions covered in the global transportation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa. The countries covered in transport market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The global transport market is segmented - 1) By Type: Motor Vehicle Parts, Motor Vehicles, Train and Components, Trailer, Motor Home, Travel Trailer and Camper, Ship and Boat Building and Repairing, All Other Transportation Equipment 2) By Application: General Services, Dockage, Hull Part, Engine Parts, Electric Works, Auxiliary Services 3) By End-User: Transport Companies, Military, Others Subsegments Covered: Motor Vehicle Body, Stamped Metal and Other Parts, Motor Vehicle Engine, Power Train and Parts, Motor Vehicle Electrical and Electronic Equipment, Steering Suspension, and Interiors, Motorcycle and Bicycle, Passenger Car, Commercial Vehicle, Locomotives, Wagons, and Other Rolling Stock, Parts and Accessories for Railway Vehicles, Dry Vans, Refrigirated Trailers, Tank Trailers, Flatbed Trailers, Lowboy Trailers, Other Trailers, Self-Contained Motor Homes Assembling, Van and Minivan Conversions, Travel Trailer, Camper, Shipbuilding and Repairing, Boat Building and Repairing

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 main types in the boat repairing market are recreational boats, commercial boats, military boats, other types. Recreational boats refer to the boats that are used for recreational purposes. The various propulsion include motorboats, sailboats. These use services such as collision damage, fire damage, submergence, groundings, and transport damage. The global boat repairing market size is expected to grow from $4.96 billion in 2021 to $5.56 billion in 2022 at a compound annual growth rate (CAGR) of 12.1%. The global boat repairing market is then expected to grow to $8.42 billion in 2026 at a CAGR of 10.9%. 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. For instance, in 2021, The National Marine Manufacturers Association (NMMA), representing North American recreational boat, engine, and marine accessory producers, reports that retail unit sales of new powerboats in the U.S. grew last year by approximately 12 percent compared to 2019. More than 310,000 new powerboats were sold in 2020, which levels the recreational boating industry. 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 the 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 emissions. 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. Major players in the 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, and General Dynamics. Asia Pacific was the largest region in the boat repairing market in 2021. North America was the second-largest region in the global boat repairing market. The regions covered in the global boat repairing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa. The countries in the boat repairing market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, USA. 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 Service: Collision Damage, Fire Damage, Submergence, Groundings, Transport Damage

Ship Building and Repairing Market Definition

The inland water transport market consists of sales of inland water transportation services and related goods by entities (organizations, sole traders, and partnerships) that provide inland water transportation of passengers and cargo on lakes, rivers, or intracoastal waterways. Inland waterways are stretches of water, not part of the sea, over which crafts of a carrying capacity not less than 50 tonnes can navigate when normally loaded. The main types in the inland water transport market are inland water freight transport and inland water passenger transport. Inland Water Freight Transport refers to the stretches of water that are not part of the sea but are suitable for navigation for vessels. Freight movement using inland waterways is not only cost-effective but also fuel-efficient. The global inland water transport market size is expected to grow from $17.40 billion in 2021 to $18.31 billion in 2022 at a compound annual growth rate (CAGR) of 5.2%. The inland water transport market is then expected to grow to $21.33 billion in 2026 at a CAGR of 3.9%. Companies are recently encouraging lean and green inland transportation. For improved efficiency, companies are focusing on natural gas in shipping, improved vessel designs, efficient loading and unloading of cargo, and many more. The companies are also retrofitting old equipment in ships with emission reduction devices, hull cleaning and coating, and high high-performance propellers and nozzles. Certain advanced propulsion systems such as fuel cell hybrid drive technologies will be soon there in the market. With these efforts, the inland transport market is seeing a steady growth in the upcoming years. Major companies in the inland water transport market include Nippon Yusen, Deutsche Post AG, Seacor Holdings Inc, American Commercial Lines LLC, Ingram Industries, AP Moller - Maersk A/S, Jeffboat, and European Cruise Service. Western Europe was the largest region in the inland water transport market in 2021. Asia Pacific was the second largest region in the inland water transport market. The regions covered in the inland water transportation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the inland water transport market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The global inland water transport market is segmented - 1) By Type: Inland Water Freight Transport, Inland Water Passenger Transport

The water transport market consists of sales of water transportation services and related goods by entities (organizations, sole traders, and partnerships) that provide water transportation of passengers and cargo using watercraft, such as ships, barges, and boats. The main types in the water transport market are the deep sea, coastal, and great lakes, and inland water transport. The deep-sea transportation mode transports people and goods via sea waterways. The water transport market is also segmented by application into onshore and offshore. The global water transport market size is expected to grow from $507.75 billion in 2021 to $537.07 billion in 2022 at a compound annual growth rate (CAGR) of 5.8%. The water transport market is then expected to grow to $650.21 billion in 2026 at a CAGR of 4.9%. Water transportation service companies are increasingly using sensor technologies to enable monitoring of remote locations of ships. A sensor is a device that detects and responds to some type of input from the physical environment. The specific input could be light, heat, motion, moisture, pressure, or any one of several other environmental phenomena present in the ship. Sensors in remote locations of ships collect data autonomously and relay the data to the control room in real-time. The data captured by the sensor allows shipowners to improve the overall maintenance cycle of visits, including condition monitoring and condition-based monitoring. For instance, NoraSens and Silicon Radar are some of the companies that manufacture sensors for ships. Major companies in the water transport market include A.P. Møller-Mærsk A/S, China Ocean Shipping Company Limited, Cargill Incorporated; CMA CGM S.A., Hapag-Lloyd AG, Nippon Yusen, Evergreen Marine Corp, K-Line, Hyundai Merchant Marine Co. Ltd, and Kuehne + Nagel International AG. Asia Pacific was the largest region in the water transport market in 2021. Western Europe was the second largest region in the global water transportation market. The regions covered in the water transport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the water transport market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The global water transport market is segmented - 1) By Type: Deep Sea, Coastal, and Great Lakes; Inland Water Transport 2) By Application: Onshore, Offshore Subsegments Covered: Deep Sea Transport, Coastal and Great Lakes Transport, Inland Water Freight Transport, Inland Water Passenger Transport