Global ship repairing Market

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 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 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 activities of shipyards include the construction of ships, their repair, conversion and alteration, the production of prefabricated ship and barge sections, and specialized services, such as ship scaling.The ship and boat building and repairing market is segmented into ship building and repairing and boat building and repairing. The global ship and boat building and repairing market is expected to grow from $219.3 billion in 2020 to $234.1 billion in 2021 at a compound annual growth rate (CAGR) of 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 $282.5 billion in 2025 at a CAGR of 5%. Asia Pacific was the largest region in the global ship and boat building and repairing market, accounting for 49% of the market in 2020.North America was the second largest region, accounting for 21% of the global market.Africa was the smallest region in the global ship and boat building and repairing market. Economic Growth In Emerging Markets-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.% in 2020 and 3.% 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 in the end user markets, thereby driving the market during forecast period. Coronavirus Pandemic - The outbreak of the Coronavirus disease (COVID-19) 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 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 lack of parts and components.Also, sales of new automobiles decreased significantly due to decline in consumer demand as many countries impose lockdowns.The outbreak is expected to continue to have a negative impact on 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, 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 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 market include Daewoo Shipbuilding & Marine Engineering Co Ltd; Hyundai Heavy Industries; Mitsubishi Heavy Industries; Samsung Heavy Industries; General Dynamics. The countries covered in the global ship and boat building and repairing market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global ship and boat building and repairing market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global ship and boat building and repairing market is segmented - 1) By Type: Ship Building And Repairing, Boat Building And Repairing Subsegments Covered: Ship Building, Ship Repairing, Boat Building, Boat Repairing

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 inland water transport market is segmented into inland water freight transportation and inland water passenger transportation. The global inland water transport market is expected to grow from $18.62 billion in 2020 to $19.42 billion in 2021 at a compound annual growth rate (CAGR) of 4.3%. 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 $23.2 billion in 2025 at a CAGR of 5%. Asia Pacific was the largest region in the global inland water transport market, accounting for 32% of the market in 2020. Western Europe was the second largest region, accounting for 29% of the global inland water transport market. Africa was the smallest region in the global inland water transport market. 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 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 inland transport market is seeing a steady growth in the upcoming years. The major players covered in the global inland water transport market are American Commercial Lines LLC, Ingram Industries, AP Moller - Maersk A/S, Jeffboat, European Cruise Service. The countries covered in the global inland 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, Vietnam. The regions covered in the global inland water transport market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global inland water transport market is segmented - 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 water transport market is segmented into deep sea, coastal, and great lakes and inland water transport. The global water transport market is expected to grow from $486.7 billion in 2020 to $507.4 billion in 2021 at a compound annual growth rate (CAGR) of 4.%.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 $611.2 billion in 2025 at a CAGR of 5%. Asia Pacific was the largest region in the global water transport market, accounting for 45% of the market in 2020.Western Europe was the second largest region, accounting for 32% of the global market.Africa was the smallest region in the global water transport market. 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 a number of 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 overall maintenance cycle of visits, including condition monitoring and condition-based monitoring.For instance, NoraSens and Silicon Radar are some of the companies manufacturing sensors for ships. Major companies in the market include A..Møller-Maersk; Mediterranean Shipping Company (MSC); CMA-CGM; Evergreen Marine Corporation; Nippon Yusen Kabushiki Kaisha (NYK). The countries covered in the global water transport market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global water transport market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global water transport market is segmented - 1) By Type: Deep Sea, Coastal, And Great Lakes, Inland Water Transport Subsegments Covered: Deep Sea Transport, Coastal and Great Lakes Transport, Inland Water Freight Transport, Inland Water Passenger Transport

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 transport market is segmented into motor vehicle parts; motor vehicles; train and components; trailer; motor home; travel trailer and camper; ship and boat building and repairing and all other transportation equipment. The global transport market is expected to grow from $5623.9 billion in 2020 to $5996.2 billion in 2021 at a compound annual growth rate (CAGR) of 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 $8266.5 billion in 2025 at a CAGR of 8%. Asia Pacific was the largest region in the global transport market, accounting for 42% of the market in 2020.North America was the second largest region, accounting for 23% of the global transport market.Africa was the smallest region in the global transport market. Economic Growth In Emerging Markets-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.% in 2020 and 3.% 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 in the end user markets, thereby driving the market during forecast period. Coronavirus Pandemic - The outbreak of the Coronavirus disease (COVID-19) 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 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 lack of parts and components.Also, sales of new automobiles decreased significantly due to decline in consumer demand as many countries impose lockdowns.The outbreak is expected to continue to have a negative impact on 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 faster creation of physical prototypes and 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, lower labor costs, meet timelines, improving safety, streamline collaboration, design analysis approach, improve 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 market include Toyota Motor; Volkswagen Group; General Motors; Daimler AG; Ford Motor. The countries covered in the global transport market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global transport market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. 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 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

Ship Building and Repairing Market Definition