Thursday, December 1 2022

Supplier Landscape

The shipbuilding market is fragmented and vendors are deploying organic and inorganic growth strategies to compete in the market.

  • Sumitomo Heavy Industries Ltd. – In February 2021, the company announced the launch of smartris, a drive solution for AGVs (automatic guided vehicles) and AMRs (autonomous mobile robots) which consists of three key components, namely gear, servo motor and driver
  • Hyundai Heavy Industries Co.Ltd. – In March 2021, the company has signed a Memorandum of Understanding (MoU) for cooperation in hydrogen and ammonia related activities with Saudi Aramco
  • Damen Shipyards Group NV – In July 2021, the company entered into a license agreement with the American company Conrad Industries. Conrad Shipyard LLC will build two Damen Multi Cats 3013 for Great Lakes Dredge and Dock Corporation.

See more on the highlights of the market vendor landscape with a comprehensive list of vendors and their offerings.

Key market segmentation

  • Segmentation by applications:
    • Commercial:
      • The growth in shipbuilding market share by commercial segment will be significant during the forecast period. The increase in international trade through maritime logistics is driving the growth of the commercial shipbuilding segment. This is due to the increase in container handling operations at seaports, which is driving the demand for commercial vessels. Furthermore, the emergence of new seaports in emerging APAC economies is also driving the demand for new container ships, thus contributing to the growth of the targeted segment.
    • Defense

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Regional Market Outlook

92% of the market growth will come from APAC during the forecast period. China, South Korea (Republic of Korea), The Philippines, and Japan are the main shipbuilding markets in APAC. The growth of the market in this region will be faster than the growth of the market in the regions.

Download our FREE sample report for more key highlights on the regional market share of most of the countries mentioned above.

The shipbuilding market covers the following areas:

Sizing of the shipbuilding market

Shipbuilding Market Forecast

Shipbuilding market analysis

Latest trends driving the global shipbuilding market

  • Market engine:
    • Increase maritime trade:

The increase in maritime trade is one of the main factors driving the growth of the shipbuilding market. Over the past two decades, the shipping industry has seen an increase in total trade volume. Major factors propelling trade volumes include rapid industrialization and liberalization of economies which increase the volume of trade between two countries. Increasing economic activities, such as foreign direct investment, have increased the purchasing power of consumers. This has increased the demand for consumer products. Improved fuel efficiency and the multi-fuel engine have made shipping an efficient mode of transportation. The demand for goods and raw materials is increasing in emerging economies due to the growing population of these countries. This further reinforces the increase in maritime trade.

  • Market trend:
    • Increase in demand for environmentally friendly ships:

Rising demand for environmentally friendly vessels is another major factor supporting the growth of shipbuilding market share. The environmental impact of shipping includes greenhouse gas emissions as well as oil pollution. Therefore, governments and international organizations are introducing many regulations related to reducing the negative effects of ships and vessels on the environment. Growing environmental regulations are expected to increase the demand for environmentally friendly vessels that adhere to the latest emission standards. The trend is expected to continue during the forecast period.

Find additional information on various other market drivers and trends mentioned in our Sample FREE Report.

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Scope of the shipbuilding market

Report cover


Page number


Year of reference


Forecast period


Growth momentum and CAGR

Accelerate at a CAGR of 2.73%

Market Growth 2021-2025

$13.24 billion

Market structure


Annual growth (%)


Regional analysis

APAC, Europe, South America, North America and MEA

Successful market contribution

92% APAC

Main consumer countries

China, South Korea (Republic of Korea), Japan, Philippines and Poland

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

BAE Systems Plc, Damen Shipyards Group NV, Fincantieri Spa, General Dynamics Corp., Huntington Ingalls Industries Inc., Hyundai Heavy Industries Co. Ltd., Mitsubishi Heavy Industries Ltd., Oshima Shipbuilding Co. Ltd., Samsung Heavy Industries Co. Ltd. . ., and Sumitomo Heavy Industries Ltd.

Market dynamics

Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, Impact of COVID-19 and Future Consumer Dynamics, Market Condition Analysis for the Forecast Period,

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

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