Global Shipbuilding Market: Size & Forecast with Impact Analysis of COVID-19 (2021-2025)

The report titled “Global Shipbuilding Market: Size & Forecast with Impact Analysis of COVID-19 (2021-2025)”, provides an in depth analysis of the global shipbuilding market by value, by new orders, by order completions, by region, by vessel type, by order gross tonnage (GT) etc. The report provides a regional analysis of the Shipbuilding market, including the following regions: Asia Pacific, Europe, North America Middle East and Africa. The report also provides a detailed analysis of the COVID-19 impact on the Shipbuilding market.

The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall shipbuilding market has also been forecasted for the period 2021-2025, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.

The global shipbuilding market is fragmented with many major market players operating worldwide. The key players of the shipbuilding market are Mitsubishi Heavy Industries (MHI), Hyundai Heavy Industries (HHI), Daewoo Shipbuilding & Marine Engineering (DSME) and Samsung Heavy Industries (SHI) are also profiled with their financial information and respective business strategies.

Country Coverage

Korea
China
Japan
Europe
Others

Company Coverage

Mitsubishi Heavy Industries (MHI)
Hyundai Heavy Industries (HHI)
Daewoo Shipbuilding & Marine Engineering (DSME)
Samsung Heavy Industries (SHI)

Executive Summary

The shipbuilding process involves the construction of various kinds of ships and vessels, the manufacturing process happens at a shipyard. The history of shipbuilding goes back to thousands of decades and can be experienced just across the globe. Shipbuilding and repairs, either military or commercial, are mentioned in the classification of ‘naval engineering,’ with ship restoration being an essential process that should be undertaken under the supervision of a categorized society. Maintenance activities can take place while at ocean or in port, but larger restoration work can only take place at ship dry docks or repair yards.

The shipbuilding market can be segmented on the basis of vessel type, named as: Gas carrier, bulk carrier, tanker and container ship. Further, the shipbuilding market can be segmented on the basis of order gross tonnage (GT) by vessel type, such as: Bulk carrier, oil tanker and others.

Global shipbuilding market has increased significantly during the years 2016-2019 and projections are made that the market would rise in the next four years i.e. 2021-2025 tremendously. The shipbuilding market is expected to increase due to growing gross national income, growing urbanization, rising efficient fuel trade, rising seaborne trade, increased use of artificial intelligence (AI) and accelerating marine tourism. Yet, the market faces some challenges such as economic slowdown and regulations & policies related to environment control.

The COVID-19 pandemic had a negative impact on global shipbuilding market. It negatively affected the market owing to the halt in manufacturing and disrupting supply chains.