Global Ship Building Market Report 2022: Market is Expected to Grow to $266.64 Billion in 2026 at a CAGR of 8.2% - Long-term Forecast to 2031 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Ship Building Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.

The global ship building market 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 market is expected to grow to $266.64 billion in 2026 at a compound annual growth rate (CAGR) of 8.2%.

Major players in the 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, and Huntington Ingalls Industries Inc.

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.

Asia-Pacific was the largest region in the shipbuilding market in 2021. Western Europe was the second largest market in shipbuilding market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa.

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 market. 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. 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.

Key Topics Covered:

1. Executive Summary

2. Ship Building Market Characteristics

3. Ship Building Market Trends And Strategies

4. Impact Of COVID-19 On Ship Building

5. Ship Building Market Size And Growth

5.1. Global Ship Building Historic Market, 2016-2021, $ Billion

5.1.1. Drivers Of The Market

5.1.2. Restraints On The Market

5.2. Global Ship Building Forecast Market, 2021-2026F, 2031F, $ Billion

5.2.1. Drivers Of The Market

5.2.2. Restraints On the Market

6. Ship Building Market Segmentation

6.1. Global Ship Building Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

• Bulkers
• Tankers
• Containers
• Cruise and Ferry
• Other Products

6.2. Global Ship Building Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

• Passenger Transportation
• Goods Transportation

6.3. Global Ship Building Market, Segmentation By End-User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

• Transport Companies
• Military
• Other End Users

7. Ship Building Market Regional And Country Analysis

7.1. Global Ship Building Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

7.2. Global Ship Building Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

Companies Mentioned

• 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.

For more information about this report visit https://www.researchandmarkets.com/r/4p1z8f