The Business Research Company’s Ship Building Global Market Report 2021: COVID 19 Impact And Recovery To 2030
LONDON, GREATER LONDON , UK, August 16, 2021 /EINPresswire.com/ — According to the new market research report ‘Shipbuilding Global Market Report 2021: COVID-19 Impact And Recovery To 2030’ published by The Business Research Company, the shipbuilding market is expected to grow from $1.48 trillion in 2020 to $1.58 trillion 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 $1.87 trillion in 2025 at a CAGR of 4.2%. The increasing seaborne trade is predicted to contribute to the growth of the shipbuilding market.
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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.
Trends In The Global Shipbuilding Market
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 November 2018, Huntington Ingalls Industries, a US-based shipbuilding company, and 3D Systems collaborated to develop additive manufacturing technologies to facilitate the adoption of metal 3D printing in the shipbuilding industry.
Global Shipbuilding Market Segments:
The global shipbuilding market is further segmented based on product, application, end user and geography.
By Product: Bulkers, Tankers, Containers, Cruise and Ferry, Others
By Application: Passenger Transportation, Goods Transportation
By End-User: Transport Companies, Military, Others
By Geography: The global shipbuilding market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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Shipbuilding Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides shipbuilding global market overviews, analyzes and forecasts market size and growth for the global shipbuilding market, shipbuilding global market share, shipbuilding global market players, shipbuilding global market segments and geographies, shipbuilding global market’s leading competitors’ revenues, profiles and market shares. The shipbuilding global market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Read Shipbuilding Global Market Report 2021 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Shipbuilding Market Organizations Covered: 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.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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Ship And Boat Building And Repairing Global Market Report 2021 – By Type (Ship Building And Repairing, Boat Building And Repairing), COVID-19 Impact And Recovery
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