Shipbuilding Market Report Scope & Overview:

The Shipbuilding Market Size was valued at USD 156.65 billion in 2023 and is expected to reach USD 204.35 billion by 2031 with a growing CAGR of 3.38% over the forecast period 2024-2031.

Shipwrights are another term for shipbuilders. The shipbuilding industry is in charge of the design and construction of ocean-going boats all over the world. Asia-Pacific currently dominates the worldwide shipbuilding sector, followed by Europe, North America, and LAMEA. Asia-Pacific is likely to maintain its worldwide market domination, particularly in China, South Korea, and Japan, because to several distinct advantages such as relatively lower wages, significant government support, and strong forward and backward industry connectivity. Shipbuilding is a very capital-intensive business, hence significant government assistance and political stability are required to survive.

Shipbuilding Market Revenue Analysis

To get more information on Shipbuilding Market - Request Free Sample Report

The shipbuilding market refers to the shipbuilding process, which comprises several procedures such as designing and manufacturing ships and other floating vessels. The market manufactures large ships, particularly seagoing boats, which are used by many industries such as transportation, trading, energy, and military. The Shipbuilding Market even offers products for vessel construction and maintenance. The market is also undergoing technical improvements and upgrades in order to increase trade and transportation. Ships are designed to be versatile for a variety of functions. Increased demand for maritime transportation has higher imports and exports, resulting in increased Shipbuilding Market Growth.



  • Advances in marine vessel engine technology

  • Increased need for ship-borne cargo transportation


  • Cost fluctuations in transportation and inventory

  • Concerns about marine vessels' environmental impact


  • Increased marine safety standards

  • Automation is becoming more popular in sea transportation.


  • Insufficient needed resources and inefficient resource management


The outbreak of the COVID-19 epidemic has caused widespread economic decline as a number of countries set up solid roads to contain the virus. This has affected various industries; the manufacturing sector is one of the most affected sectors. It has had a huge impact on global supply chains. Shipping companies face huge losses in the first and second quarters of 2020, due to disruptions in chains and production systems. The rapid spread of COVID-19 to the US, Europe, and Asia economies has led to a nationwide closure and temporary shutdown of production facilities to prevent further spread. In addition, the outbreak of COVID-19 has caused shipwreck disruption in relation to new construction, repairs and conversion projects. The outbreak forced some companies to close their shipping operations in many countries.

Shipbuilding is regarded as one of the most strategic, oldest, open, and competitive markets in the world. Although the shipbuilding sector has extensive expertise in surviving economic ups and downs, the current global economic and political crisis has impacted the shipbuilding industry particularly hard. Because shipbuilding is a capital-intensive business, it requires significant government support and political stability to thrive. The shipbuilding industry is in charge of the design and construction of ocean-going boats all over the world.

Shipbuilding Market Size is classified into several ship types, including cargo, vessel, container, tanker, multifunctional ship, car and passenger ferry, and others. The cargo sub-category is expected to have the highest CAGR during the evaluation period due to increased international seaborne trade globally. The vessel segment is benefiting from defence investment.

The container segment of the ship type benefits from increased operating efficiency and cargo carrying capability. Because of the increased need for military and cargo ships around the world, the tanker segment is expected to grow at a respectable CAGR % during the assessment period. The multipurpose ship category is driven by the transportation of global cargo such as iron, steel, timber, and other bulk cargo. The global surge in marine tourism is driving growth in the automobile and passenger ferry segments. The other group includes tugs, cruise ships, small passenger ships, and general freight carriers.

Based on end-users, the Shipbuilding Market Size is divided into transport and military segments. Transport has dominated the market in recent years and is predicted to grow at a faster CAGR over the forecast period. The rapid expansion of the maritime tourism industry, as well as the increase in trading operations, are driving the segment. The military category is expected to grow at a solid CAGR as worldwide conflicts, terrorist attacks, and population relocation increase, boosting the expansion of naval innovations and driving the market.


By Ship Type

  • Bulk Carriers

  • General Cargo Ships

  • Container Ships

  • Passenger Ships

  • Others

By End User 

  • Transport

  • Military

  • Others


North America, Europe, Asia Pacific, and the Rest of the World are the regions covered. North America has seen significant growth in recent years as a result of key firms such as Raytheon Technologies and Huntington Ingalls Industries, Inc.

Because of rising marine tourism and electric ships, the European market is expected to rise significantly. Because of the significant demand for marine boats in China, Japan, India, and South Korea, the Asia Pacific area is predicted to have the greatest CAGR. The expansion of seaborne international trade operations in other parts of the world, such as the United Arab Emirates, South Africa, Brazil, and the Gulf countries, is likely to strengthen the market in these areas.

Shipbuilding Market By Region

Need any customization research on Shipbuilding Market - Enquiry Now


  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America


The Major Players are Korea Shipbuilding & Offshore Engineering Co., Ltd., Mitsubishi Heavy Industries, Ltd., Oshima Shipbuilding Co., Ltd., Sumitomo Heavy Industries, Ltd., Damen Shipyards Group, Fincantieri GroupBae Systems Plc, General Dynamics Corporation, Huntington Ingalls Industries, Inc., Samsung Heavy Industries Co., Ltd., and other players.

Mitsubishi Heavy Industries Ltd-Company Financial Analysis

Company Landscape Analysis

Shipbuilding Market Report Scope:

Report Attributes Details
Market Size in 2022  US$ 156.65 Billion
Market Size by 2030  US$ 204.35 Billion
CAGR  CAGR of 3.38% From 2024 to 2031
Base Year  2023
Forecast Period  2024-2031
Historical Data  2020-2022
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By End User (Transport and Military)
• By Ship Type (Bulk Carriers, General Cargo Ships, Container Ships, Passenger Ships and Others)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Korea Shipbuilding & Offshore Engineering Co., Ltd., Mitsubishi Heavy Industries, Ltd., Oshima Shipbuilding Co., Ltd., Sumitomo Heavy Industries, Ltd., Damen Shipyards Group, Fincantieri Group, Bae Systems Plc, General Dynamics Corporation, Huntington Ingalls Industries, Inc., Samsung Heavy Industries Co., Ltd., and other players.
DRIVERS • Advances in marine vessel engine technology
• Increased need for ship-borne cargo transportation
RESTRAINTS • Cost fluctuations in transportation and inventory
• Concerns about marine vessels' environmental impact

Frequently Asked Questions

According to SNS insiders, the Shipbuilding Market size was USD 147.97 billion in 2021 and is expected to reach USD 186.99 billion by 2028 with a CAGR of  3.4% over the forecasted period.

Increased marine safety standards  and Automation is becoming more popular in sea transportation.

Yes, you will get an free sample of this report for that you have to make an contact with our team.

North America, Europe, Asia-Pacific, The Middle East & Africa, Latin America are the major region cover.

The sample for the Shipbuilding Market report is available on the website upon request. To obtain the sample report, you can also use the 24*7 chat support and direct call services.

Table of Contents

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies US Canada Germany France United Kingdom China Japan South Korea Rest of the World

5. Value Chain Analysis

6. Porter’s 5 forces model

7.  PEST Analysis

8.Shipbuilding Market Segmentation, By Type

8.1 Bulk Carriers

8.2 General Cargo Ships

8.3 Container Ships

8.4 Passenger Ships

8.5 Others

9.Shipbuilding Market Segmentation, By Process

9.1 Designing

9.2 Production Planning

9.3 Cutting and Processing

9.4 Assembling and Launching

9.5 Outfitting

10.Shipbuilding Market Segmentation, By End User

10.1 Transport

10.2 Military

11. Regional Analysis

11.1 Introduction

11.2 North America

11.2.1 USA

11.2.2 Canada

11.2.3 Mexico

11.3 Europe

11.3.1 Germany

11.3.2 UK

11.3.3 France

11.3.4 Italy

11.3.5 Spain

11.3.6 The Netherlands

11.3.7 Rest of Europe

11.4 Asia-Pacific

11.4.1 Japan

11.4.2 South Korea

11.4.3 China

11.4.4 India

11.4.5 Australia

11.4.6 Rest of Asia-Pacific

11.5 The Middle East & Africa

11.5.1 Israel

11.5.2 UAE

11.5.3 South Africa

11.5.4 Rest

11.6 Latin America

11.6.1 Brazil

11.6.2 Argentina

11.6.3 Rest of Latin America

12.Company Profiles

12.1 Korea Shipbuilding & Offshore Engineering Co., Ltd.

12.1.1 Financial

12.1.2 Products/ Services Offered

12.1.3 Swot Analysis

12.1.4 The Sns View

12.2 Mitsubishi Heavy Industries, Ltd.

12.3 Oshima Shipbuilding Co., Ltd.

12.4 Sumitomo Heavy Industries, Ltd.

12.5 Damen Shipyards Group

12.6 Fincantieri Group

12.7 Bae Systems Plc

12.8 General Dynamics Corporation

12.9 Huntington Ingalls Industries, Inc.

12.10 Samsung Heavy Industries Co., Ltd.

13. Competitive Landscape

13.1 Competitive Benchmarking

13.2 Market Share Analysis

13.3 Recent Developments

14. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.


The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

Step 3: Data Bank Validation

Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.

Data Bank Validation

Step 4: QA/QC Process

After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.

Step 5: Final QC/QA Process:

This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.

Start a Conversation

Hi! Click one of our member below to chat on Phone