Global shipbuilding markets

We analyse trends, growth patterns and drivers in global shipbuilding markets for manufacturers.

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“The shipbuilding market encompasses the manufacturing process of designing, constructing and repairing floating vessels for various activities and maintenance purposes. This industry is driven by the growth of international seaborne trade, industrialisation and the need for fuel-efficient vessels. Multi-fuel engines, 3D printing technology and autonomous ships are just some of the technical improvements and upgrades in the shipbuilding industry,” said analyst, Technavio.

However, added the analyst, the shipping industry faces increasing regulatory pressure to minimise its environmental impact. Two primary concerns are greenhouse gas emissions and oil pollution from ships. In response, governments and international organisations are implementing regulations. Economic cycles, geopolitical tensions and global trade routes also influence fleet deployment and production planning.

The maritime industry plays a crucial role in global trade by enabling the movement of goods, people and resources across vast oceans and waterways. Driven by fierce global competition, from countries such as China and South Korea, European governments are proactively supporting the development of shipbuilding and ship repair yards by offering tax incentives, access to finance and other assistance to encourage investment

In this article, we analyse trends, growth patterns and drivers in global shipbuilding markets for manufacturers.

Global markets

The global market for shipbuilding was valued at US$115.2 billion in 2024 in a recent report by analyst Research and Markets. It is projected to reach US$140.3 billion by 2030 (growing at a CAGR of 3.3% from 2024 to 2030). 

“The shipbuilding industry generates significant employment opportunities and stimulates economic development in shipbuilding [regions] such as South Korea, China, Japan and Europe. These countries are home to advanced shipyards and skilled workforces, supporting local economies through jobs, investments and export revenue. The industry's impact extends to various sectors, including steel manufacturing, electronics and marine engineering, creating a complex ecosystem that drives innovation and technological advancement,” said the analyst.

To read the rest of this article in the June 2025 issue of ISMR, see https://joom.ag/Rqsd/p26