How big is the Shipbuilding Market?

The Shipbuilding Market size is expected to reach USD 145.67 billion in 2024 and grow at a CAGR of 4.84% to reach USD 184.5 billion by 2029. Read More

What is the current Shipbuilding Market size?

In 2024, the Shipbuilding Market size is expected to reach USD 145.67 billion. Read More

Who are the key players in Shipbuilding Market?

China State Shipbuilding Corporation, Mitsubishi Heavy Industries Ltd., Samsung Heavy Industries, Daewoo Shipbuilding & Marine Engineering Co., Ltd and Hyundai Heavy Industries Co. Ltd. are the major companies operating in the Shipbuilding Market. Read More

Which is the fastest growing region in Shipbuilding Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Shipbuilding Market?

In 2024, the Asia Pacific accounts for the largest market share in Shipbuilding Market. Read More

What years does this Shipbuilding Market cover, and what was the market size in 2023?

In 2023, the Shipbuilding Market size was estimated at USD 138.62 billion. The report covers the Shipbuilding Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Shipbuilding Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

What are the major challenges facing the Shipbuilding Industry?

The Shipbuilding Industry faces major challenges such as: a) Stringent environmental regulations b) Rising labor costs, and c) Need for technological advancements to build sophisticated ships Read More

Shipbuilding Market Global | Industry Trends, Size & Forecast Analysis

Shipbuilding Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Shipbuilding Market is Segmented by Type (vessel, Container, Passenger, and Other Types), End User (transport Companies, Military, and Other End Users), and Geography(North America, Europe, Asia-Pacific, and the Rest of the World). The Market Size and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

Shipbuilding Industry Overview

The shipbuilding market is fragmented, with several players accounting for significant amounts of shares in the market. Some of the prominent companies in the market are Mitsubishi Heavy Industries, Hyundai Heavy Industries, China State Ship Building Corporation, DSME, and others. Companies are investing heavily in research and development for the innovation of new and advanced products. For instance:

In January 2023, A start-up, TvastaManufacturing Solutions, built Kolkota's first 3D printed structure for Garden Reach Shipbuilders and Engineers at the Kolkata shipyard. Tvasta Manufacturing Solutions, which specializes in 3D printing construction, built the structure as a technology demonstrator for GRSE.

Such developments over the five years are expected to drive the market.