In a recent published report, Kenneth Research has updated the market report for Shipbuilding Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Shipbuilding Market products.
The Global Shipbuilding Market was valued at USD 256.05 billion in the year 2018. The global shipbuilding market is expected to grow in future due to increasing seaborne trade and economic growth, rising energy consumption, demand of eco-friendly ships and shipping services. Key trends of this market include significant consumption of steel, average age of global fleet, advancements in container shipping and rising demand for LNG fuelled engine. The shipbuilding market is expected to grow at a slow but steady pace during the forecast period. Use of new technologies, such as artificial intelligence (AI) and automation, are the key drivers of the shipbuilding market across the globe. Additionally, adoption of robotic technologies is likely to supplement the shipbuilding market in the near future.
Among the application segment in the Shipbuilding market (Defense, Transportation, Leisure & Luxury and Others), Transportation holds the major share. Moreover, rising global tensions, territorial expansionism, rise of non-state actor-led conflicts, and the associated displacement of population have fueled expansion of naval deployments, which is propelling the market for shipbuilding in defense sector.
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Shipbuilding production in terms of CGT is strongly concentrated in the three East Asian economies namely China, Korea and Japan which is propelling the market growth in APAC region. Also, the factors that are expected to fuel growth of the ship building market in the American region are increasing seaborne trade, increasing compliance with maritime safety norms, along with the growth in maritime tourism.
Scope of the Report
• The report analyses the Shipbuilding Market by Value, Orderbook and Deliveries
• The report analyses the Shipbuilding Market by Ship type (Ship Tankers, Ship Containers, Ship Bulker, Others).
• The report assesses the Shipbuilding market by its application (Defense, Transportation, Leisure & Luxury, Others).
• The Global Ship Building Market has been analysed By Region (Americas, Europe, Asia Pacific, MEA) and By Country (United States, Canada, Mexico, Brazil, Germany, Italy, United Kingdom, China, Japan, South Korea).
• The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis. Also, the attractiveness of the market has been presented by region, ship Type and application. Also, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.
• The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include Hyundai Heavy Industries Co. Ltd, Daewoo Shipbuilding & Marine Engineering Co., Ltd, Samsung Heavy Industries, China Shipbuilding Industry Corporation, China State Shipbuilding Corporation Ltd., Mitsubishi Heavy Industries, Fincantieri, Sumitomo Heavy Industries, Ltd., STX Offshore & Shipbuilding Co. Ltd, The United Shipbuilding Corporation
• The report presents the analysis of Shipbuilding market for the historical period of 2014-2018 and the forecast period of 2019-2024.
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Key Target Audience
• Shipbuilding Companies
• Shipyards and Repair Companies
• Consulting and Advisory Firms
• Government and Policy Makers
• Investment Banks and Equity Firms
• Regulatory Authorities
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