Shipbuilding Market Report Scope & Overview:
The Shipbuilding Market Size was valued at USD 161.94 billion in 2024 and is expected to reach USD 211.28 billion by 2032 with a growing CAGR of 3.38% over the forecast period 2025-2032.
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.
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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.
Market Size and Forecast:
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Market Size in 2024 USD 161.94 Billion
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Market Size by 2032 USD 211.28 Billion
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CAGR of 3.38% From 2025 to 2032
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Base Year 2024
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Forecast Period 2025-2032
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Historical Data 2021-2023
Key Shipbuilding Market Trends:
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Advancements in marine vessel engine technology improving fuel efficiency and reducing environmental impact.
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Rising demand for ship-borne cargo transportation driven by globalization and international trade growth.
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Adoption of high-capacity, modern vessels to meet increasing shipping and logistics needs.
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Implementation of stricter marine safety standards, promoting development of advanced vessel designs.
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Growing integration of automation and autonomous navigation in sea transportation to enhance efficiency and reduce human error.
Shipbuilding Market Growth Drivers:
Key drivers of the Shipbuilding Market include advances in marine vessel engine technology, which enhance efficiency, reduce emissions, and support sustainable operations. Additionally, the rising demand for ship-borne cargo transportation, fueled by globalization and expanding international trade, is boosting the need for modern, high-capacity vessels, driving consistent growth in the global shipbuilding industry.
Shipbuilding Market Restraints:
Key restraints of the Shipbuilding Market include cost fluctuations in transportation and inventory, which increase operational expenses and affect profitability. Additionally, growing concerns about marine vessels' environmental impact, such as carbon emissions, fuel consumption, and marine pollution, are pressuring shipbuilders to adopt costly sustainable technologies, creating challenges for market growth and competitiveness.
Shipbuilding Market Opportunities:
The Shipbuilding Market presents significant opportunities with the enforcement of increased marine safety standards, driving demand for advanced vessel designs and safety technologies. Additionally, the rising popularity of automation in sea transportation, including smart ships and autonomous navigation systems, offers shipbuilders growth potential by enhancing operational efficiency, reducing human error, and improving overall maritime logistics.
Shipbuilding Market Segment Analysis:
By Ship Type
In 2024, container ships dominated the shipbuilding market due to increasing global trade and demand for efficient cargo transportation. From 2025 to 2032, the passenger ships segment is expected to grow at the fastest CAGR, driven by rising tourism, cruise industry expansion, and growing demand for luxury and recreational vessels, creating significant opportunities for shipbuilders worldwide.
By End User
In 2024, the transport segment dominated the shipbuilding market, driven by the need for commercial cargo and logistics vessels supporting global trade. From 2025 to 2032, the military segment is expected to grow at the fastest CAGR, fueled by increased defense budgets, modernization of naval fleets, and rising demand for advanced warships and strategic maritime capabilities.
Shipbuilding Market Regional Analysis:
North America Shipbuilding Market Insights
North America’s shipbuilding market is driven by naval fleet modernization, defense spending, and demand for advanced cargo and passenger vessels. Technological advancements, stringent safety regulations, and increasing offshore energy projects further support market growth, positioning the region as a key player in both commercial and military shipbuilding sectors.
Asia Pacific Shipbuilding Market Insights
Asia Pacific dominates global shipbuilding due to strong presence of major shipyards, rising international trade, and government support for maritime infrastructure. High demand for container ships, bulk carriers, and cruise vessels, coupled with technological innovations and cost-effective manufacturing, fuels rapid market growth across the region.
Europe Shipbuilding Market Insights
Europe’s shipbuilding market benefits from advanced engineering, stringent environmental regulations, and high-quality vessel production. Strong demand for passenger ships, cruise liners, and specialized vessels, along with investments in green shipping technologies, drives growth while maintaining the region’s reputation for precision and innovation in shipbuilding.
Latin America (LATAM) and Middle East & Africa (MEA) Shipbuilding Market Insights
The LATAM and MEA shipbuilding markets are expanding due to rising offshore oil and gas activities, port infrastructure development, and increasing maritime trade. Investments in naval modernization, cargo vessels, and regional shipyards support growth, with opportunities emerging in both commercial and defense maritime sectors.
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Shipbuilding Market Key Players:
The Major Players are
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Oshima Shipbuilding Co., Ltd.
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Sumitomo Heavy Industries, Ltd.
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Damen Shipyards Group
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General Dynamics Corporation
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Huntington Ingalls IndustriesInc.
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Samsung Heavy Industries Co., Ltd.
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Hyundai Heavy Industries Co., Ltd.
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Daewoo Shipbuilding & Marine Engineering Co., Ltd.
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China State Shipbuilding Corporation (CSSC)
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Japan Marine United Corporation
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Imabari Shipbuilding Co., Ltd.
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STX Offshore & Shipbuilding Co., Ltd.
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Mazagon Dock Shipbuilders Limited
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Cochin Shipyard Limited
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Austal Limited
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Navantia S.A.
Mitsubishi Heavy Industries Ltd-Company Financial Analysis
| Report Attributes | Details |
|---|---|
| Market Size in 2024 | USD 161.94 Billion |
| Market Size by 2032 | USD 211.28 Billion |
| CAGR | CAGR of 3.38% From 2025 to 2032 |
| Base Year | 2024 |
| Forecast Period | 2025-2032 |
| Historical Data | 2021-2023 |
| 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 (US, Canada), Europe (Germany, UK, France, Italy, Spain, Russia, Poland, Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN Countries, Rest of Asia Pacific), Middle East & Africa (UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Mexico, Colombia, 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. |
Table Of Contents
1. Introduction
1.1 Market Definition & Scope
1.2 Research Assumptions & Abbreviations
1.3 Research Methodology
2. Executive Summary
2.1 Market Snapshot
2.2 Market Absolute $ Opportunity Assessment & Y-o-Y Analysis, 2021–2032
2.3 Market Size & Forecast, By Segmentation, 2021–2032
2.3.1 Market Size By Ship Type
2.3.2 Market Size By End User
2.4 Market Share & Bps Analysis By Region, 2024
2.5 Industry Growth Scenarios – Conservative, Likely & Optimistic
2.6 Industry CxO’s Perspective
3. Market Overview
3.1 Market Dynamics
3.1.1 Drivers
3.1.2 Restraints
3.1.3 Opportunities
3.1.4 Key Market Trends
3.2 Industry PESTLE Analysis
3.3 Key Industry Forces (Porter’s) Impacting Market Growth
3.4 Industry Supply Chain Analysis
3.4.1 Raw Material Suppliers
3.4.2 Manufacturers
3.4.3 Distributors/Suppliers
3.4.4 Customers/End-Users
3.5 Industry Life Cycle Assessment
3.6 Parent Market Overview
3.7 Market Risk Assessment
4. Statistical Insights & Trends Reporting
4.1 Production & Performance Metrics
4.1.1 Annual shipbuilding capacity (gross tonnage) by leading regions
4.1.2 Average construction lead time (months) across vessel types (cargo, tanker, passenger, naval)
4.1.3 Fleet modernization rate (%) replacing aging ships with new builds
4.2 Adoption & Deployment Trends
4.2.1 Percentage share of vessel orders by application (commercial, naval, offshore, leisure)
4.2.2 Year-on-year growth (%) in new vessel deliveries globally
4.2.3 Share of shipbuilding demand driven by international trade vs domestic maritime transport (%)
4.3 Technology & Innovation Metrics
4.3.1 Share of shipbuilding projects incorporating digital ship design & simulation (CAD, digital twin) (%)
4.3.2 Percentage of vessels integrating advanced propulsion systems (LNG, hybrid, hydrogen, nuclear)
4.3.3 Average adoption rate (%) of automation & robotics in shipyard operations
4.4 Sustainability & Cost Efficiency Benchmarks
4.4.1 Average reduction in CO₂ emissions (%) per vessel with green technologies
4.4.2 Share of eco-friendly ships (meeting IMO Tier III or equivalent standards) in total deliveries (%)
4.4.3 Average cost per gross tonnage (USD/GT) trend across different ship types
Shipbuilding Market Segmental Analysis & Forecast, By Ship Type, 2021 – 2032, Value (USD Billion)
5.1 Introduction
5.2 Bulk Carriers
5.2.1 Key Trends
5.2.2 Market Size & Forecast, 2021 – 2032
5.3 General Cargo Ships
5.4 Container Ships
5.5 Passenger Ships
5.6 Others
6. Shipbuilding Market Segmental Analysis & Forecast, By End User, 2021 – 2032, Value (USD Billion)
6.1 Introduction
6.2 Transport
6.2.1 Key Trends
6.2.2 Market Size & Forecast, 2021 – 2032
6.3 Military
6.4 Others
7. Shipbuilding Market Segmental Analysis & Forecast By Region, 2021 – 2025, Value (USD Billion)
7.1 Introduction
7.2 North America
7.2.1 Key Trends
7.2.2 Shipbuilding Market Size & Forecast, By Ship Type, 2021 – 2032
7.2.3 Shipbuilding Market Size & Forecast, By End User, 2021 – 2032
7.2.4 Shipbuilding Market Size & Forecast, By Country, 2021 – 2032
7.2.4.1 USA
7.2.4.1.1 Shipbuilding Market Size & Forecast, By Ship Type, 2021 – 2032
7.2.4.1.2 Shipbuilding Market Size & Forecast, By End User, 2021 – 2032
7.2.4.2 Canada
7.2.4.2.1 Shipbuilding Market Size & Forecast, By Ship Type, 2021 – 2032
7.2.4.2.2 Shipbuilding Market Size & Forecast, By End User, 2021 – 2032
7.3 Europe
7.3.1 Key Trends
7.3.2 Shipbuilding Market Size & Forecast, By Ship Type, 2021 – 2032
7.3.3 Shipbuilding Market Size & Forecast, By End User, 2021 – 2032
7.3.4 Shipbuilding Market Size & Forecast, By Country, 2021 – 2032
7.3.4.1 Germany
7.3.4.1.1 Shipbuilding Market Size & Forecast, By Ship Type, 2021 – 2032
7.3.4.1.2 Shipbuilding Market Size & Forecast, By End User, 2021 – 2032
7.3.4.2 UK
7.3.4.2.1 Shipbuilding Market Size & Forecast, By Ship Type, 2021 – 2032
7.3.4.2.2 Shipbuilding Market Size & Forecast, By End User, 2021 – 2032
7.3.4.3 France
7.3.4.3.1 Shipbuilding Market Size & Forecast, By Ship Type, 2021 – 2032
7.3.4.3.2 Shipbuilding Market Size & Forecast, By End User, 2021 – 2032
7.3.4.4 Italy
7.3.4.4.1 Shipbuilding Market Size & Forecast, By Ship Type, 2021 – 2032
7.3.4.4.2 Shipbuilding Market Size & Forecast, By End User, 2021 – 2032
7.3.4.5 Spain
7.3.4.5.1 Shipbuilding Market Size & Forecast, By Ship Type, 2021 – 2032
7.3.4.5.2 Shipbuilding Market Size & Forecast, By End User, 2021 – 2032
7.3.4.6 Russia
7.3.4.6.1 Shipbuilding Market Size & Forecast, By Ship Type, 2021 – 2032
7.3.4.6.2 Shipbuilding Market Size & Forecast, By End User, 2021 – 2032
7.3.4.7 Poland
7.3.4.7.1 Shipbuilding Market Size & Forecast, By Ship Type, 2021 – 2032
7.3.4.7.2 Shipbuilding Market Size & Forecast, By End User, 2021 – 2032
7.3.4.8 Rest of Europe
7.3.4.8.1 Shipbuilding Market Size & Forecast, By Ship Type, 2021 – 2032
7.3.4.8.2 Shipbuilding Market Size & Forecast, By End User, 2021 – 2032
7.4 Asia-Pacific
7.4.1 Key Trends
7.4.2 Shipbuilding Market Size & Forecast, By Ship Type, 2021 – 2032
7.4.3 Shipbuilding Market Size & Forecast, By End User, 2021 – 2032
7.4.4 Shipbuilding Market Size & Forecast, By Country, 2021 – 2032
7.4.4.1 China
7.4.4.1.1 Shipbuilding Market Size & Forecast, By Ship Type, 2021 – 2032
7.4.4.1.2 Shipbuilding Market Size & Forecast, By End User, 2021 – 2032
7.4.4.2 India
7.4.4.2.1 Shipbuilding Market Size & Forecast, By Ship Type, 2021 – 2032
7.4.4.2.2 Shipbuilding Market Size & Forecast, By End User, 2021 – 2032
7.4.4.3 Japan
7.4.4.3.1 Shipbuilding Market Size & Forecast, By Ship Type, 2021 – 2032
7.4.4.3.2 Shipbuilding Market Size & Forecast, By End User, 2021 – 2032
7.4.4.4 South Korea
7.4.4.4.1 Shipbuilding Market Size & Forecast, By Ship Type, 2021 – 2032
7.4.4.4.2 Shipbuilding Market Size & Forecast, By End User, 2021 – 2032
7.4.4.5 Australia
7.4.4.5.1 Shipbuilding Market Size & Forecast, By Ship Type, 2021 – 2032
7.4.4.5.2 Shipbuilding Market Size & Forecast, By End User, 2021 – 2032
7.4.4.6 ASEAN Countries
7.4.4.6.1 Shipbuilding Market Size & Forecast, By Ship Type, 2021 – 2032
7.4.4.6.2 Shipbuilding Market Size & Forecast, By End User, 2021 – 2032
7.4.4.7 Rest of Asia-Pacific
7.4.4.7.1 Shipbuilding Market Size & Forecast, By Ship Type, 2021 – 2032
7.4.4.7.2 Shipbuilding Market Size & Forecast, By End User, 2021 – 2032
7.5 Latin America
7.5.1 Key Trends
7.5.2 Shipbuilding Market Size & Forecast, By Ship Type, 2021 – 2032
7.5.3 Shipbuilding Market Size & Forecast, By End User, 2021 – 2032
7.5.4 Shipbuilding Market Size & Forecast, By Country, 2021 – 2032
7.5.4.1 Brazil
7.5.4.1.1 Shipbuilding Market Size & Forecast, By Ship Type, 2021 – 2032
7.5.4.1.2 Shipbuilding Market Size & Forecast, By End User, 2021 – 2032
7.5.4.2 Argentina
7.5.4.2.1 Shipbuilding Market Size & Forecast, By Ship Type, 2021 – 2032
7.5.4.2.2 Shipbuilding Market Size & Forecast, By End User, 2021 – 2032
7.5.4.3 Mexico
7.5.4.3.1 Shipbuilding Market Size & Forecast, By Ship Type, 2021 – 2032
7.5.4.3.2 Shipbuilding Market Size & Forecast, By End User, 2021 – 2032
7.5.4.4 Colombia
7.5.4.4.1 Shipbuilding Market Size & Forecast, By Ship Type, 2021 – 2032
7.5.4.4.2 Shipbuilding Market Size & Forecast, By End User, 2021 – 2032
7.5.4.5 Rest of Latin America
7.5.4.5.1 Shipbuilding Market Size & Forecast, By Ship Type, 2021 – 2032
7.5.4.5.2 Shipbuilding Market Size & Forecast, By End User, 2021 – 2032
7.6 Middle East & Africa
7.6.1 Key Trends
7.6.2 Shipbuilding Market Size & Forecast, By Ship Type, 2021 – 2032
7.6.3 Shipbuilding Market Size & Forecast, By End User, 2021 – 2032
7.6.4 Shipbuilding Market Size & Forecast, By Country, 2021 – 2032
7.6.4.1 UAE
7.6.4.1.1 Shipbuilding Market Size & Forecast, By Ship Type, 2021 – 2032
7.6.4.1.2 Shipbuilding Market Size & Forecast, By End User, 2021 – 2032
7.6.4.2 Saudi Arabia
7.6.4.2.1 Shipbuilding Market Size & Forecast, By Ship Type, 2021 – 2032
7.6.4.2.2 Shipbuilding Market Size & Forecast, By End User, 2021 – 2032
7.6.4.3 Qatar
7.6.4.3.1 Shipbuilding Market Size & Forecast, By Ship Type, 2021 – 2032
7.6.4.3.2 Shipbuilding Market Size & Forecast, By End User, 2021 – 2032
7.6.4.4 Egypt
7.6.4.4.1 Shipbuilding Market Size & Forecast, By Ship Type, 2021 – 2032
7.6.4.4.2 Shipbuilding Market Size & Forecast, By End User, 2021 – 2032
7.6.4.5 South Africa
7.6.4.5.1 Shipbuilding Market Size & Forecast, By Ship Type, 2021 – 2032
7.6.4.5.2 Shipbuilding Market Size & Forecast, By End User, 2021 – 2032
7.6.4.6 Rest of Middle East & Africa
7.6.4.6.1 Shipbuilding Market Size & Forecast, By Ship Type, 2021 – 2032
7.6.4.6.2 Shipbuilding Market Size & Forecast, By End User, 2021 – 2032
8. Competitive Landscape
8.1 Key Players' Positioning
8.2 Competitive Developments
8.2.1 Key Strategies Adopted (%), By Key Players, 2024
8.2.2 Year-Wise Strategies & Development, 2021 – 2025
8.2.3 Number Of Strategies Adopted By Key Players, 2024
8.3 Market Share Analysis, 2024
8.4 Product/Service & Application Benchmarking
8.4.1 Product/Service Specifications & Features By Key Players
8.4.2 Product/Service Heatmap By Key Players
8.4.3 Application Heatmap By Key Players
8.5 Industry Start-Up & Innovation Landscape
8.6 Key Company Profiles
8.6.1 Korea Shipbuilding & Offshore Engineering Co., Ltd.
8.6.1.1 Company Overview & Snapshot
8.6.1.2 Product/Service Portfolio
8.6.1.3 Key Company Financials
8.6.1.4 SWOT Analysis
8.6.2 Mitsubishi Heavy Industries, Ltd.
8.6.3 Oshima Shipbuilding Co., Ltd.
8.6.4 Sumitomo Heavy Industries, Ltd.
8.6.5 Damen Shipyards Group
8.6.6 Fincantieri Group
8.6.7 BAE Systems Plc
8.6.8 General Dynamics Corporation
8.6.9 Huntington Ingalls Industries, Inc.
8.6.10 Samsung Heavy Industries Co., Ltd.
8.6.11 Hyundai Heavy Industries Co., Ltd.
8.6.12 Daewoo Shipbuilding & Marine Engineering Co., Ltd.
8.6.13 China State Shipbuilding Corporation (CSSC)
8.6.14 Japan Marine United Corporation
8.6.15 Imabari Shipbuilding Co., Ltd.
8.6.16 STX Offshore & Shipbuilding Co., Ltd.
8.6.17 Mazagon Dock Shipbuilders Limited
8.6.18 Cochin Shipyard Limited
8.6.19 Austal Limited
8.6.20 Navantia S.A.
9. Analyst Recommendations
9.1 SNS Insider Opportunity Map
9.2 Industry Low-Hanging Fruit Assessment
9.3 Market Entry & Growth Strategy
9.4 Analyst Viewpoint & Suggestions On Market Growth
10. Assumptions
11. Disclaimer
12. Appendix
12.1 List Of Tables
12.2 List Of Figures
Key Segmentation
By Ship Type
- Bulk Carriers
- General Cargo Ships
- Container Ships
- Passenger Ships
- Others
By End User
- Transport
- Military
- Others
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Regional Coverage:
North America
- US
- Canada
Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Poland
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- ASEAN Countries
- Rest of Asia Pacific
Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
Latin America
- Brazil
- Argentina
- Mexico
- Colombia
- Rest of Latin America
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