Global Vessel Retrofit Services Market Growth (Status and Outlook) 2025-2031

The global Vessel Retrofit Services market size is predicted to grow from US$ 5527 million in 2025 to US$ 7169 million in 2031; it is expected to grow at a CAGR of 4.4% from 2025 to 2031.

Vessel retrofit services refers to the modification or upgrade of existing ships with new technologies, equipment, or systems. This is done to improve the vessel's performance, efficiency, safety, and environmental impact, or to extend its operational life.

United States market for Vessel Retrofit Services is estimated to increase from US$ million in 2024 to US$ million by 2031, at a CAGR of % from 2025 through 2031.

China market for Vessel Retrofit Services is estimated to increase from US$ million in 2024 to US$ million by 2031, at a CAGR of % from 2025 through 2031.

Europe market for Vessel Retrofit Services is estimated to increase from US$ million in 2024 to US$ million by 2031, at a CAGR of % from 2025 through 2031.

Global key Vessel Retrofit Services players cover MITSUBISHI HEAVY INDUSTRIES, ALFA LAVAL, Kongsberg Maritime, MAN Energy Solutions, ABB, etc. In terms of revenue, the global two largest companies occupied for a share nearly % in 2024.

LPI (LP Information)' newest research report, the “Vessel Retrofit Services Industry Forecast” looks at past sales and reviews total world Vessel Retrofit Services sales in 2024, providing a comprehensive analysis by region and market sector of projected Vessel Retrofit Services sales for 2025 through 2031. With Vessel Retrofit Services sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Vessel Retrofit Services industry.

This Insight Report provides a comprehensive analysis of the global Vessel Retrofit Services landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyses the strategies of leading global companies with a focus on Vessel Retrofit Services portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Vessel Retrofit Services market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Vessel Retrofit Services and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Vessel Retrofit Services.

This report presents a comprehensive overview, market shares, and growth opportunities of Vessel Retrofit Services market by product type, application, key players and key regions and countries.

Segmentation by Type:
Alternative Fuel Retrofits
Energy Efficiency Retrofits
Emission Control Retrofits
Others

Segmentation by Application:
Commercial Cargo Ships
Passenger Ships
Specialized Vessels

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
MITSUBISHI HEAVY INDUSTRIES
ALFA LAVAL
Kongsberg Maritime
MAN Energy Solutions
ABB
Wartsila
HD Hyundai Marine Solutions
YANMAR HOLDINGS
DNV
Seatrium
Tenerife Shipyards
Vard Marine
SeaTec
Austal Service
SHIP REPAIR
Ulstein Verft
L&T India
SFM Marine
Hidramar
Kenya Shipyards Limited
Fincantieri
Arab Shipbuilding and Repair Yard
Drydocks World Dubai
Damen Shipyards Group
Schulte Marine Concept
CHENGXI SHIPYARD
COSCO SHIPPING HEAVE INDUSTRY
WUCHANG SHIPBUILDING INDUSTRY GROUP
OMEP
KRAL GmbH

Please note: The report will take approximately 2 business days to prepare and deliver.