Dublin, Jan. 19, 2024 (GLOBE NEWSWIRE) -- The "Ship And Boat Building And Repairing Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global ship and boat building and repairing market is experiencing robust growth, as revealed in the latest comprehensive market research report available on our website. The detailed analysis forecasts the market to progress from $284.22 billion in 2023 to a notable $390.86 billion by 2028, with a compound annual growth rate (CAGR) of 6.5%. This growth signifies the industry's expansive development and the influence of key factors shaping its trajectory.
Emerging Trends and Market Drivers
The report elucidates various catalysts propelling the market, among which advanced sustainability initiatives and technological innovations are prominent. The ongoing transition towards cleaner energy sources, increasing environmental regulations, and the implementation of digitalization and automation across the industry are contributing to enhanced efficiency and productivity.
- Electrification and lightweighting
- Advancements in materials and additive manufacturing
- Expansion of digitalization and connectivity
- Pivotal collaborations within the industry
These trends are poised to redefine the ship and boat building and repairing landscape, offering new opportunities and fostering significant improvements in ecological footprints of maritime vessels.
Regional Market Insights and Forward-looking Analysis
In this comprehensive report, the Asia-Pacific region is spotlighted for being the largest market in 2023, followed closely by Western Europe. The report provides in-depth coverage across other key regions and countries, examining the specific market dynamics and growth trajectories in each geography.
Economic Indicators and Market Growth Correlation
The ship and boat building and repairing market's growth is firmly underpinned by global economic indicators such as GDP growth projections from the International Monetary Fund (IMF) and the recovery of commodity prices. Emerging markets exhibit an upward trajectory, fuelling the industry's expansion and fostering maritime trade.
Impact of Global Trade and COVID-19 on the Industry
Furthermore, the report delves into the effects of fluctuating international trade volumes and the impact of the COVID-19 pandemic on the industry. With maritime trade volumes rebounding strongly in 2021, the ship and boat building and repairing sector is expected to capitalize on the growing demand for global shipping services.
Adoption of Green Shipbuilding Technologies
In an effort to meet stringent environmental regulations and societal sustainability goals, shipbuilding companies are swiftly adopting green technologies. This movement towards more environmentally friendly practices is a testament to the industry's commitment to innovation and progress, as emphasized in the report.
Highlighting industry-leading efforts and novel ships such as the ASAHI, the report showcases pioneering vessels characterized by their zero emission technologies and groundbreaking sustainability features.
Major players in the market have been identified, giving readers an overview of who is shaping the future of ship and boat building and repair. These influential companies drive forward not only technological and sustainable innovation but also represent the strategic movement of the market in the current economic landscape.
This report offers an invaluable resource for industry stakeholders, investors, policymakers, and other interested parties seeking to understand the rapidly evolving ship and boat building and repairing market. The global analysis presents an informed outlook on market size, regional shares, emerging trends, and provides a roadmap for the industry's future.
For those looking to gain a comprehensive understanding of the market dynamics, key trends, competitive analysis, and forward-looking perspective in the ship and boat building and repairing industry, this market research report serves as an indispensable tool.
Explore the wealth of insights and detailed analysis in the full report to understand the critical developments and anticipate the future of the ship and boat building and repairing market.
A selection of companies mentioned in this report includes
- Samsung Heavy Industries Co. Ltd.
- Daewoo shipbuilding & marine engineering
- BRP Inc.
- Brunswick Corporation
- Fincantieri SpA
- Huntington Ingalls Industries Inc.
- China Shipbuilding Industry Corporation
- China CSSC Holdings Limited
- Berkshire Hathaway Inc.
- General Dynamics Corp.
- Mitsubishi Heavy Industries Ltd.
- Austal Limited
- Hyundai Mipo Dockyard Co Ltd.
- Damen Shipyards Group
- Sembcorp Marine Ltd.
- Oman Drydock Company
- Cochin Shipyard Limited
- United Shipbuilding Corporation
- Arab Shipbuilding and Repair Yard
- Bae Systems Norfolk Ship Repair Inc.
- Conrad Shipyard L.L.C.
- Irving Shipbuilding
- Seaspan ULC
- Toronto Drydock Company
- James Marine Inc.
- Trident Maritime Systems Inc.
- Reliance Naval and Engineering Limited
- Bharati Defence And Infrastructure Limited
- ABG Shipyard Limited
- Western India Shipyard Limited
- Titagarh Marine Limited
For more information about this report visit https://www.researchandmarkets.com/r/juogg7
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