Ship Repairing Market 2023 – By Vessel Type (General Cargo Ships, Bulk Cargo Carrier, Crude Oil Tankers, Chemical Tankers, Container Ships, Liquefied Natural Gas Tankers, Navy And Passenger Ships, Other Vessels), By Application (General Services, Dockage, Hull Part, Engine Parts, Electric Works, Auxiliary Services), By End-User (Transport Companies, Military, Other End-Users), And By Region, Opportunities And Strategies – Global Forecast To 2032

Inland water transportation refers to a mode of transportation over stretches of water, not part of the sea, over which crafts with a carrying capacity of not less than 50 tons can navigate when normally loaded to provide inland water transportation of passengers and cargo on lakes, rivers, or intracoastal waterways. The main types of transport 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 is segmented - 1) By Type: Inland Water Freight Transport, Inland Water Passenger Transport The global inland water transport market grew from $18.64 billion in 2022 to $19.56 billion in 2023 at a compound annual growth rate (CAGR) of 5.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The inland water transport market is expected to grow to $22.81 billion in 2027 at a CAGR of 3.9%. Recently, companies are 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-performance propellers and nozzles. Certain advanced propulsion systems, such as fuel cell hybrid drive technologies, will be available soon in the market. With these efforts, the inland transport market is seeing 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.American Commercial Lines LLC; Ingram Industries; AP Moller - Maersk A/S; Jeffboat; European Cruise Service. Western Europe was the largest region in the inland water transport market in 2022. Asia-Pacific was the second largest region in the inland water transport global market. The regions covered in the inland water transport 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 market for inland water transport includes revenues earned by entities by providing navigation as well as drainage, irrigation, water supply, and hydroelectric power generation. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The inland water transport market research report is one of a series of new reports from The Business Research Company that provides inland water transport market statistics, including inland water transport global market size, regional shares, competitors with an inland water transport market share, detailed inland water transport market segments, market trends and opportunities, and any further data you may need to thrive in the inland water transport industry. This inland water transport market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Ship Building and Repairing Market Definition

Water transport is a mode of transportation that uses ships, barges, and boats that can float on water surfaces to transport people, goods, and freight. This mode of transportation is less expensive than rail, road, and air transport, is beneficial for the carriage of heavy goods over long distances in foreign trade, and is also used in military operations to defend naval borders. 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 market is also segmented by application into onshore and offshore. 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 The global water transport market size grew from $544.7 billion in 2022 to $575.68 billion in 2023 at a compound annual growth rate (CAGR) of 5.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The water transport market is expected to grow to $694.19 billion in 2027 at a CAGR of 4.8%. 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 on 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 2022. Western Europe was the second largest region in the global water transport 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 water transport market includes the revenue generated by entities that transport goods and people from one location to another using marine for long distance travel. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The water transport market includes the revenue generated by entities that transport goods and people from one location to another using marine for long distance travel. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The water transport market research report is one of a series of new reports from The Business Research Company that provides water transport market statistics, including water transport global market size, regional shares, competitors with a water transport market share, detailed water transport market segments, market trends and opportunities, and any further data you may need to thrive in the water transport industry. This water transport market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Transport equipment is defined as equipment that is used for the movement of people or goods from one place to another. The main types in the transport market are motor vehicle parts, motor vehicles, trains and components, trailers, motor homes, travel trailers, and campers, ship and boat building and repairing, and all other transportation equipment. Motor vehicle parts refer to the parts of vehicles such as bicycles, cycles, and other types. The various applications include general services, dockage, hull parts, engine parts, electric works, auxiliary services. These are used by transport companies, the military, and other end users. 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, Other End Users Subsegments Covered: Motor Vehicle Body, Stamped Metal & Other Parts, Motor Vehicle Engine, Power Train & Parts, Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors, Motorcycle And Bicycle, Passenger Car, Commercial Vehicle, Locomotives, Wagons, & Other Rolling Stock, Parts & 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, Ship Building And Repairing, Boat Building And Repairing. The global transport market size grew from $5894.62 billion in 2022 to $6464.7 billion in 2023 at a compound annual growth rate (CAGR) of 9.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The transport market is expected to grow to $9091.42 billion in 2027 at a CAGR of 8.9%. The Transport Manufacturing Market has been aided by the rapid economic growth of developing countries during the historical period. The International Monetary Fund (IMF) predicts that global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historical period, are further expected to aid the market's 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 developed markets in the forecast period. Stable economic growth is expected to increase investments in the end-user markets, thereby driving the market during the forecast period. 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. The outbreak of COVID-19 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 breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China, and has 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 imposed lockdowns. The outbreak continues to hurt businesses throughout 2020 and into 2021. However, it is expected that the transportation manufacturing market will recover from the shock over 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 labour costs, meeting timelines, improving safety, streamlining collaboration, design analysis approach, improving accuracy, aiding 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. Asia-Pacific was the largest region in the transport market in 2022. Western Europe was the second largest market in transport market. The regions covered in the transport 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 transport consists of sales of motor vehicle body, stamped metal & other parts, motor vehicle engine, power train & parts, motor vehicle electrical & electronic equipment, steering suspension, & interiors, motorcycle and bicycle, passenger car, commercial vehicle, locomotives, wagons, & other rolling stock, parts & accessories for railway vehicles, dry vans, refrigerated trailers, tank trailers, flatbed trailers, lowboy trailers, self-contained motor homes assembling, van and minivan conversions, travel trailer, camper, shipbuilding and repairing, boat building and repairing and other transport. The market includes only the sales of manufactured transport equipment not transport services. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The transport market research report is one of a series of new reports from The Business Research Company that provides transport market statistics, including transport industry, global transport market size, regional transport market shares, competitors with a transport market share, detailed transport market segments, market trends and opportunities, and any further data you may need to thrive in the transport industry. This transport market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Boat repairing is the service provided after the sale of the boats because it involves giving the boat regular maintenance. The main types in the boat repairing market are recreational boats, commercial boats, military boats, and other types. Recreational boats refer to boats that are used for recreational purposes. The various propulsion systems include motorboats and sailboats. These provide services such as collision damage, fire damage, submergence, groundings, and transport damage. The global boat repairing market is segmented - 1) By Type: Recreational Boats, Commercial Boats, Military Boats, Other Types 2) By Propulsion: Motor Boats, Sail Boats 3) By Services: Collision Damage, Fire Damage, Submergence, Groundings, Transport Damage The global boat repairing market size will grow from $5.56 billion in 2022 to $6.17 billion in 2023 at a compound annual growth rate (CAGR) of 11.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global boat repairing is expected to grow to $9.22 billion in 2027 at a CAGR of 10.6%. 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% compared to 2019. More than 310,000 new powerboats were sold in 2020, which is a record for the recreational boating industry. The surge in recreational boating is likely to contribute to the demand for growth of the boat repair market. 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. The maritime industry, which 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 activities and personal pleasure boats have also been suspended to control the spread of the coronavirus. According to Willis Towers Watson insights, over 3 billion citizens have been placed under lockdown, causing economic activity to slow and the global economy to sink 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 in many activities in the maritime industry, from cleaning and maintenance to full-fledged driverless craft, to reduce human risk and increase process efficiency. 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 Sea Robotics estimates, 5% of fuel efficiency from regular cleanings saves about $15 billion per year in fuel costs and reduces 1 billion tonnes 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. Asia-Pacific was the largest region in the boat repairing market in 2022. North America was the second-largest region in the global boat repairing market share. The regions covered in the global boat repairing market analysis 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 boat repairing market include revenues earned by entities by repairing sport fishing boats, motorboats, sailboats, pontoon boats, bay boats, runabouts, and watersport boats. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The boat repairing market research report is one of a series of new reports from The Business Research Company that provides boat repairing market statistics, including global market size, regional shares, competitors with a boat repairing market share, detailed boat repairing market segments, market trends and opportunities, and any further data you may need to thrive in the boat repairing industry. This boat repair market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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. The main types in the ship and boat building and repairing market are shipbuilding and repairing, boat building and repairing. Repairing refers to the servicing and maintaining of 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 parts, engine parts, electric works, auxiliary services. These are used by transport companies, the military, and other end users. The global ship and boat building and repairing market 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 The global ship and boat building and repairing market size grew from $264.86 billion in 2022 to $287.14 billion in 2023 at a compound annual growth rate (CAGR) of 8.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The ship and boat building and repairing market is expected to grow to $389.37 billion in 2027 at a CAGR of 7.9%. The ship and boat building and repair market is aided by stable economic growth forecast in many developed and developing countries. The International Monetary Fund (IMF) predicts that global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historical period, are further expected to aid the market's 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 developed markets in the forecast period. Stable economic growth is expected to increase investments in the end-user markets, thereby driving the market during the forecast period. 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. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the ship and boat building and repair 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 breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China, and has 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 imposed lockdowns. The outbreak continues 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 over 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 sterilisation equipment; sulphur scrubber systems; waste heat recovery systems; speed nozzles; exhaust gas recirculation systems; advanced rudder and propeller systems; fuel and solar cell propulsion systems; and the 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. The Dean Shipyards Group is also coordinating a green LeanShips project aimed at creating less polluting vessels. Asia-Pacific was the largest region in the ship and boat building and repairing market in 2022. 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. 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 ship and boat building and repairing market includes revenues earned by entities by construction of ships, their repair, conversion, and alteration. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The ship and boat building and repairing market research report is one of a series of new reports from The Business Research Company that provides ship and boat building and repairing market statistics, including ship and boat building and repairing industry, global ship and boat building and repairing market size, regional ship and boat building and repairing market shares, competitors with a ship and boat building and repairing market share, detailed ship and boat building and repairing market segments, ship and boat building and repairing market trends and opportunities, and any further data you may need to thrive in the ship and boat building and repairing industry. This ship and boat building and repairing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

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. The main types of shipbuilding are bulkers, tankers, containers, cruises, ferries, and other types. Container ships have no hatches, which means there is no continuous main deck running the length of the ship, as well as other types of well, such as passenger transportation and goods transportation. The various applications include passenger transportation and goods transportation. These are used by transport companies, the military, and other end-users. The global shipbuilding market is segmented - 1) By Product: Bulkers, Tankers, Containers, Cruise and Ferry, Other Products 2) By Application: Passenger Transportation, Goods Transportation 3) By End-User: Transport Companies, Military, Other End Users The global ship building market size will grow from $193.66 billion in 2022 to $209.13 billion in 2023 at a compound annual growth rate (CAGR) of 8.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global ship building is expected to grow to $279.03 billion in 2027 at a CAGR of 7.5%. The increasing seaborne trade is predicted to contribute to the growth of the shipbuilding market. The rising population, the 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 at a lower cost than transport by road, rail, and air. This scenario is expected to drive the demand for the shipbuilding market. The increasing seaborne trade is predicted to contribute to the growth of the shipbuilding market. The rising population, the 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 growth of the shipbuilding market. Major players in the shipbuilding 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., and Huntington Ingalls Industries Inc. 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 on 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 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. In September 2022, KH Investment acquired Daehan Shipbuilding for ? 200 billion ($148 million). This acquisition is a part of their efforts to support its plan of building capacity and work with Daehan Shipbuilding employees for creating new business system. KH Investment has acquired a 95 % stake in the shipyard won through a consortium led by the Korea Investment Private Equity and SG Private Equity. Daehan Shipbuilding is a South Korea-based company engaged in ship construction and repair services. The company also specializes in building tanker, container, and liquefied natural gas ships. Asia-Pacific was the largest region in the shipbuilding market in 2022. Western Europe was the second largest market in global shipbuilding market share. The regions covered in the global shipbuilding market analysis 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 shipbuilding market include revenues earned by entities by construction of ships, conversion, and alteration. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The shipbuilding market research report is one of a series of new reports from The Business Research Company that provides shipbuilding market statistics, including the shipbuilding industry global market size, regional shares, competitors with a shipbuilding market share, detailed shipbuilding market segments, market trends and opportunities, and any further data you may need to thrive in the shipbuilding industry. This shipbuilding market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.