By end use, the Transport segment is expected to lead the market growth during the forecast period.
WILMINGTON, NEW CASTLE, DE, UNITED STATES, October 23, 2024 /EINPresswire.com/ — The globalย ๐๐ก๐ข๐ฉ๐๐ฎ๐ข๐ฅ๐๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญย was valued at $142.52 billion in 2020, and is projected to reach $195.48 billion by 2030, registering a CAGR of 3.2% during the forecast period. Rise in demand for cargo transportation through ships, technological development in marine vessel engines, and gradual rise in international seaborne trade have boosted theย growth of the global shipbuilding market. However, environmental concerns regarding marine vessels and fluctuating transportation & inventory costs hinder the market growth. On the contrary, surge in marine safety norms and trend of automation in marine transportation are expected to open new opportunities in the future.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ (๐๐๐ญ ๐ ๐ฎ๐ฅ๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐ข๐ง ๐๐๐ – 219 ๐๐๐ ๐๐ฌ) ๐๐ญ:ย https://www.alliedmarketresearch.com/request-sample/A08511
The key factors driving growth of the global shipbuilding market include GDP growth, improved economic growth, global seaborne trade, increase in demand for cargo transportation through ships and rise in trade-related agreements, technological advancements in marine vessel engines and trend of automation in marine transportation. However, fluctuations in transportation and inventory costs, coupled with environmental concerns associated with marine vessels are some noteworthy trends that could hamper growth of the market.
By end use, the military segment would showcase the highest CAGR of 7.1% from 2021 to 2030, due to rise in investment and inclination toward the marine defense sector. However, the transport segment held the largest share in 2020, contributing to more than 90% of the market, due to rise in trading activities between different countries.
๐๐ฎ๐ฒ ๐๐จ๐ฐ & ๐๐๐ญ ๐๐ฑ๐๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ ๐๐ข๐ฌ๐๐จ๐ฎ๐ง๐ญ ๐จ๐ง ๐ญ๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ :ย https://www.alliedmarketresearch.com/shipbuilding-market/purchase-options
Presently, the globalย shipbuilding industryย is dominated by Asia-Pacific followed by Europe, North America, and LAMEA. Asia-Pacific is expected to maintain its dominance in the global market particularly by China, South Korea, and Japan, owing to few distinct advantages; such as cheaper wages, strong government backing, and strong forward & backward linkage industries. Shipbuilding is considered to be one of the most strategic, oldest, most open and highly competitive markets in the world. Although, the shipbuilding industry has vast experiences in surviving during peaks and slumps of economy, the current global economic and political crisis has hit the shipbuilding industry more severely. As shipbuilding is a highly capital-intensive industry, strong government support and political stability is prerequisite to survive this industry. The shipbuilding industry is accountable for design and construction of oceangoing vessels all around the globe.
By region, the market across Asia-Pacific, followed by Europe and North America, held the lion’s share in 2020, accounting for more than four-fifths of the market, due to cheaper wages, growing seaborne trade, and strong government backing. However, the market across Europe would showcase the highest CAGR of 5.4% from 2021 to 2030.
๐๐ก๐ ๐ค๐๐ฒ ๐ฉ๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐ฉ๐ซ๐จ๐๐ข๐ฅ๐๐ ๐ข๐ง ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ข๐ง๐๐ฅ๐ฎ๐๐
๐๐๐๐๐๐๐๐ ๐๐๐๐๐ ๐๐๐๐๐๐๐๐๐๐, ๐๐๐., ๐๐๐๐๐ ๐๐๐๐๐๐๐๐๐ ๐๐๐๐๐, ๐๐๐๐๐๐๐๐๐๐ ๐๐๐๐๐ ๐๐๐๐๐๐๐๐๐๐, ๐๐๐., ๐ ๐๐๐๐๐๐๐๐๐๐ ๐๐๐๐๐, ๐๐๐๐๐๐ ๐๐๐๐๐๐๐๐๐๐๐๐ ๐๐., ๐๐๐., ๐๐๐๐๐๐๐๐๐๐ ๐๐๐๐๐๐๐ ๐๐๐๐๐๐๐๐๐๐, ๐๐๐., ๐๐๐๐๐ ๐๐๐๐๐๐๐๐๐๐๐๐ & ๐๐ ๐ ๐๐๐๐๐ ๐๐๐๐๐๐๐๐๐๐๐ ๐๐., ๐๐๐. (๐๐๐๐๐๐๐ ๐๐๐๐๐ ๐๐๐๐๐๐๐๐๐๐ ๐๐., ๐๐๐.), ๐๐๐๐๐๐๐ ๐๐๐๐๐๐๐๐ ๐๐๐๐๐๐๐๐๐๐๐, ๐๐๐ ๐๐๐๐๐๐๐ ๐๐๐, ๐๐๐๐๐๐๐ ๐๐๐๐๐ ๐๐๐๐๐๐๐๐๐๐ ๐๐., ๐๐๐.
๐๐๐ญ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐ฐ๐ข๐ญ๐ก ๐ฒ๐จ๐ฎโ๐ซ๐ ๐๐๐ช๐ฎ๐ข๐ซ๐๐ฆ๐๐ง๐ญ๐ฌ:ย https://www.alliedmarketresearch.com/request-for-customization/A08511
By type, the bulk carriers segment held the largest share in 2020, accounting for more than one-third of the market. However, the general cargo ships segment is expected to register the highest CAGR of 6.1% during the forecast period.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ :ย https://www.alliedmarketresearch.com/purchase-enquiry/A08511
๐๐๐ฒ ๐ ๐ข๐ง๐๐ข๐ง๐ ๐ฌ ๐๐ ๐๐ก๐ ๐๐ญ๐ฎ๐๐ฒ
By Type, the bulk carrier segment is expected to register significant growth during the forecast period.
By end use, transport segment is projected to lead the global market in terms of market share by the end of the forecast period.
By region, Asia-Pacific dominated the global Shipbuilding market in 2020 in terms of market share.
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David Correa
Allied Market Research
This article was originally posted by Shipping & Logistics Industry: https://shipping.einnews.com/pr_news/754142909/shipbuilding-market-expanding-at-a-healthy-3-2-cagr-to-reach-a-value-of-195-48-billion-by-2030?n=2&code=E-Im4zwbH9wCERrP&utm_source=NewsletterNews&utm_medium=email&utm_campaign=Shipping+%26+Logistics+News&utm_content=article