Dublin, March 08, 2021 (GLOBE NEWSWIRE) -- The "Ship Building and Repairing Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global ship building and repairing market as it emerges from the COVID-19 shut down.
The global ship building and repairing market is expected to grow from $178.14 billion in 2020 to $190.47 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 $225.64 billion in 2025 at a CAGR of 4%.
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Description:
Where is the largest and fastest growing market for the ship building and repairing? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Ship Building and Repairing market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider ship building and repairing market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- The ship building and repairing market section of the report gives context. It compares the ship building and repairing market with other segments of the ship and boat building and repairing market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, ship building and repairing indicators comparison.
Major companies in the ship building and repairing market include Hyundai Heavy Industries; Daewoo Shipbuilding & Marine Engineering Co Ltd; Samsung Heavy Industries and Mitsubishi Heavy Industries.
The ship building and repairing market consists of sales of ships and ship 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 building and repairing market is segmented into ship building and ship repairing.
Asia Pacific was the largest region in the global ship building and repairing market, accounting for 52% of the market in 2020. Western Europe was the second largest region accounting for 19% of the global ship building and repairing market. Africa was the smallest region in the global ship building and repairing market.
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 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 fewer polluting vessels.
The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the ship 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 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.
The ship 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 3.3% in 2020 and 3.4% 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.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Ship Building and Repairing Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Ship Building and Repairing Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Ship Building and Repairing Market Supply Chain
5.1. Supply Chain
5.2. Distribution
5.3. End Customers
6. Ship Building and Repairing Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Ship Building and Repairing Market Trends and Strategies
8. Impact of COVID-19 on Ship Building and Repairing
9. Ship Building and Repairing Market Size and Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.2.1. Drivers of the Market
9.2.2. Restraints on the Market
9.3. Forecast Market Growth, Value ($ Billion)
9.3.1. Drivers of the Market
9.3.2. Restraints on the Market
10. Ship Building and Repairing Market Regional Analysis
10.1. Global Ship Building and Repairing Market, 2020, by Region, Value ($ Billion)
10.2. Global Ship Building and Repairing Market, 2015-2020, 2020-2025F, 2030F, Historic and Forecast, by Region
10.3. Global Ship Building and Repairing Market, Growth and Market Share Comparison, by Region
11. Ship Building and Repairing Market Segmentation
11.1. Global Ship Building and Repairing Market, Segmentation by Type
12. Ship Building and Repairing Market Metrics
12.1. Ship Building and Repairing Market Size, Percentage of GDP, 2015-2025, Global
12.2. Per Capita Average Ship Building and Repairing Market Expenditure, 2015-2025, Global
13. Asia-Pacific Ship Building and Repairing Market
14. Western Europe Ship Building and Repairing Market
15. Eastern Europe Ship Building and Repairing Market
16. North America Ship Building and Repairing Market
17. South America Ship Building and Repairing Market
18. Middle East Ship Building and Repairing Market
19. Africa Ship Building and Repairing Market
20. Ship Building and Repairing Market Competitive Landscape
20.1. Competitive Market Overview
20.2. Market Shares
20.3. Company Profiles
20.3.1. Hyundai Heavy Industries
20.3.1.1. Company Overview
20.3.1.2. Products and Services
20.3.1.3. Strategy
20.3.1.4. Financial Performance
20.3.2. Daewoo Shipbuilding & Marine Engineering Co Ltd
20.3.2.1. Company Overview
20.3.2.2. Products and Services
20.3.2.3. Strategy
20.3.2.4. Financial Performance
20.3.3. Samsung Heavy Industries
20.3.3.1. Company Overview
20.3.3.2. Products and Services
20.3.3.3. Strategy
20.3.3.4. Financial Performance
20.3.4. Mitsubishi Heavy Industries
20.3.4.1. Company Overview
20.3.4.2. Products and Services
20.3.4.3. Strategy
20.3.4.4. Financial Performance
21. Key Mergers and Acquisitions in the Ship Building and Repairing Market
22. Market Background: Ship and Boat Building and Repairing Market
22.1. Ship and Boat Building and Repairing Market Characteristics
22.2. Ship and Boat Building and Repairing Market Historic and Forecast, 2015-2020, 2020-2025F, 2030F Growth, by Segment, Value ($ Billion), Global
22.3. Global Ship and Boat Building and Repairing Market, 2020, by Region, Value ($ Billion)
22.4. Global Ship and Boat Building and Repairing Market, 2015-2020, 2020-2025F, 2030F, Historic and Forecast, by Region
22.5. Global Ship and Boat Building and Repairing Market, 2015-2020, 2020-2025F, 2030F, Segmentation by Type, Value ($ Billion)
23. Recommendations
23.1. Global Ship Building and Repairing Market in 2025 - Growth Countries
23.2. Global Ship Building and Repairing Market in 2025 - Growth Segments
23.3. Global Ship Building and Repairing Market in 2025 - Growth Strategies
24. Appendix
24.1. NAICS Definitions of Industry Covered in this Report
24.2. Abbreviations
24.3. Currencies
24.4. Research Inquiries
24.5. About the Publisher
25. Copyright and Disclaimer
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