The Shipbuilding Market is Segmented by Type (vessel, Container, Passenger, and Other Types), End User (transport Companies, Military, and Other End Users), and Geography(North America, Europe, Asia-Pacific, and the Rest of the World). The Market Size and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

Between January and October 2021, China was the leading shipbuilding market based on orders in CGT (compensated gross tonnage) with a market share of 49 percent. South Korea reached a market share of 39 percent during that time period.

The global shipbuilding market is expected to increase by a compound annual growth rate (CAGR) of around 3.2 percent in between 2020 and 2030. While the market was sized at nearly 152 billion U.S. dollars in 2022, is is projected to increase to over 195 billion U.S. dollars in size in 2030.

According to Cognitive Market Research, the global Shipbuilding Industry market size is USD 148485.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 5.20% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 59394.20 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.4% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 44545.65 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 34151.67 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2031.
Latin America had a market share for more than 5% of the global revenue with a market size of USD 7424.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.6% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 2969.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031.
The Oil tankers held the highest Shipbuilding Industry market revenue share in 2024.

Market Dynamics of Shipbuilding Industry Market

Key Drivers for Shipbuilding Industry Market

Rising Global Trade to Increase the Demand Globally

Rising worldwide trade is significantly boosting the call for efficient and massive-capability vessels. As globalization advances, the quantity of global seaborne alternate expands, requiring ships capable of transporting goods across massive distances efficaciously. This trend drives numerous new deliver creation tasks, as maritime organizations are looking to beautify their fleets to meet growing change needs. Advanced vessel designs and technology are increasingly crucial for optimizing shipment capacity, fuel performance, and environmental impact. Consequently, the delivery enterprise is investing in progressive shipbuilding strategies and larger, more capable vessels to live aggressively in the worldwide market and support the ongoing surge in global change.

Economic Growth to Propel Market Growth

Economic increase drives international trade and industrial interest, leading to a heightened demand for uncooked materials and finished merchandise. As the worldwide economic system strengthens, groups and countries increase their production and consumption, resulting in a surge of products that need transportation. This improved trade extent interprets right into a greater need for ships to transport these items across the world. Consequently, the shipbuilding enterprise stories a boost as shipbuilders work to meet the growing call for maritime transportation. The development of the latest vessels and the expansion of fleets are essential to aid global change, similarly stimulating the shipbuilding area and riding improvements in delivery layout and generation.

Restraint Factor for the Shipbuilding Industry Market

Overcapacity and Competition to Limit the Sales

The shipbuilding enterprise has encountered durations of overcapacity, wherein the quantity of shipyards exceeds the demand for brand-spanking new vessels. This surplus results in heightened opposition amongst shipbuilders as they vie for limited contracts. Intense contention drives down prices and pressures shipyards to reduce fees to stay competitive. Overcapacity can result in reduced income margins and economic strain for a few shipbuilders, prompting them to seek modern solutions or diversify their services. In response, shipyards can also focus on niche markets, invest in superior technology, or form strategic partnerships to differentiate themselves and maintain their business. Managing overcapacity effectively is vital for keeping industry stability and ensuring lengthy-time period profitability.

Impact of Covid-19 on the Shipbuilding Industry Market

The COVID-19 pandemic extensively impacted the shipbuilding industry by means of disrupting worldwide supply chains, delaying projects, and causing monetary instability. Lockdowns and tour restrictions affected shipyard operations, main to creation delays and elevated prices. The pandemic additionally brought about a sharp decline in global alternatives, lowering the call for new vessels and exacerbating overcapacity troubles. Many shipowners postponed or canceled orders because of unsur...

In 2023, HD Hyundai Heavy Industries was the leading shipbuilding company in South Korea, based on its domestic market share of around 33.2 percent. HD Hyundai Samho and Samsung Heavy Industries recorded similar market shares based on gross tonnage. By this metric, Hanwha Ocean accounted for only around 5.2 percent of the domestic shipbuilding market. Leading as a conglomerate Samsung Heavy Industries continues to be a prominent force in the market. However, the company has seen decreases in revenue in recent years. As for the listed HD Hyundai companies, both are subsidiaries of HD Korea Shipbuilding and Offshore Engineering (HDKSOE), making it the actual market leader. As a holding company, HDKSOE is able to boast a larger scale of combined operations, and recorded revenue levels that eclipse its competitors. Among the international leaders The shipbuilding industry is one of South Korea’s major economic sectors, with the country having a strong global presence in the market. The majority of worldwide shipbuilding orders are split between China and South Korea, with Japan falling behind recently. As such, South Korea's key prominent on the global stage.

According to Cognitive Market Research, the global Commercial Shipbuilding Market size will be USD XX million in 2024. It will expand at a compound annual growth rate (CAGR) of 4.00% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD XX million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.4% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031.
The tanker category is the fastest growing segment of the Commercial Shipbuilding industry

Market Dynamics of Commercial Shipbuilding Market

Key Drivers for Commercial Shipbuilding Market

Growth in the Use of Very Economical and Effective Cargo Ships for International Trade

The expansion of trade has been one of the main features of the world economy in recent years, and maritime transportation is the foundation of global trade. The naval commerce has a major impact on the ship market. Global economic progress has been spurred by the opening of new markets and the extension of supply chains made feasible by maritime transport. Roughly 90% of all freight is said to be moved by sea. Consequently, countries with a high reliance on ships stimulate the shipbuilding industry. Cargo ships are the most often used marine vessels in trading activities. With globalization deeply entrenched in the foundation of numerous economies, chances for international commerce of goods are rising, delivering a superior range of items at varied price points. Throughout the anticipated period, the need for shipbuilding would probably be driven by the growing maritime trade between nations

Expansion of the Agreements Affecting Trade to Drive Market Growth

Growth in trade agreements between developed and developing nations is driving the worldwide shipbuilding business. These agreements make it easier to transfer commodities, which causes suppliers to favor more effective canal transportation. The global market is growing as a result of cargo vessel manufacturers' innovation and production of more effective container carriers in a range of sizes and capacities. Furthermore, the execution of free trade agreements has resulted in lower tariffs and taxes, which has encouraged a rise in commercial activity. Exporters and importers are therefore excused from paying specific taxes to the government. As a result, more trade agreements have raised the need for sturdy containers, which is supporting the expansion of the worldwide shipbuilding market.

Restraint Factor for the Commercial Shipbuilding Market

Rules pertaining to the environment, will Limit Market Growth

The shipbuilding industry has significant challenges because to strict environmental rules that require expensive modifications in design and technology to comply with efficiency and emissions standards. Shipbuilders need to be dedicated to funding environmentally friendly inventions and R&D projects in order to successfully manage this constraint. Developing cleaner propulsion systems, cutting-edge hull designs, and more effective operational procedures are some examples of this. In order to help the shipbuilding sector adapt to more environmentally friendly and sustainable methods, governments may simultaneously play a critical role by funding research projects and offering grants or tax exemptions. This industry-wide collaborative strategy promotes environmental stewardship and helps guarantee regulatory compliance.

Impact of Covid-19 on the Commercial Shipbuilding Market

Covid-19 had a significant impact on the Commercial Shipbuilding Market. Supply chain disruptions during COVID-19 hindered trade, resulting in a shortage of raw materials for manufacturers and a delay in delivering completed goods to consumers in ...

The global shipbuilding market, valued at $145.67 billion in 2025, is projected to experience steady growth, driven by increasing global trade volumes necessitating larger and more efficient vessels, and rising demand for specialized ships in the offshore energy and cruise sectors. A Compound Annual Growth Rate (CAGR) of 4.84% from 2025 to 2033 indicates a substantial expansion of the market. Key drivers include advancements in shipbuilding technology, leading to improved fuel efficiency, reduced emissions, and enhanced safety features. Furthermore, government investments in port infrastructure and maritime security measures are stimulating market growth. The market is segmented by vessel type (vessel, container, passenger, other), and end-user (transport companies, military, others). Container ships, fueled by e-commerce growth and global supply chain expansion, represent a significant segment. The passenger vessel segment is also experiencing growth, propelled by the resurgence of cruise tourism and the construction of luxury liners. However, challenges remain, including fluctuating raw material prices, stringent environmental regulations demanding greener shipbuilding practices, and geopolitical uncertainties impacting global trade routes. Competition is intense amongst major players such as Samsung Heavy Industries, Hyundai Heavy Industries, and China State Shipbuilding Corporation, which are constantly innovating and expanding their capabilities to maintain their market share. Regional analysis reveals that Asia-Pacific dominates, owing to large-scale shipbuilding activities in countries like China, South Korea, and Japan. Europe and North America also contribute significantly, driven by robust maritime industries and demand for specialized vessels. The forecast period (2025-2033) anticipates a continued upward trajectory for the shipbuilding market, although the rate of growth might fluctuate year-on-year based on global economic conditions and technological advancements. The ongoing transition toward sustainable shipbuilding practices—incorporating environmentally friendly materials and energy-efficient designs—presents both opportunities and challenges for manufacturers. Companies are focusing on research and development to meet stricter environmental regulations while enhancing their competitiveness. The military segment offers a niche but stable market, driven by national defense budgets and modernization programs across various nations. Future market growth will likely be shaped by the adoption of automation and digital technologies, leading to improved operational efficiencies and reduced production costs in the shipbuilding sector. This will involve integrating AI, advanced simulation tools, and big data analytics to optimize shipbuilding processes. Recent developments include: August 2023: The Canadian government announced that it would invest CAD 463 million (USD 345 million) in shipbuilding infrastructure to move forward with the Surface Combatant (CSC) program. It calls for the construction of 15 new warships that will be a key component of the future Royal Canadian Navy. The funds will be used to prepare the Irving Shipyard and adjacent facilities in Nova Scotia for construction, which is now slated to begin next year for the program., May 2023: Vard Marine Inc., in collaboration with Team Vigilance partner firms Heddle Shipyards, Thales Canada, SH Defence, and Fincantieri, unveiled the Vigilance Offshore Patrol Vessel at CANSEC 2023. Team Vigilance partner firms collectively bring extensive and significant capabilities and expertise to bear in naval ship design, Canadian and worldwide construction, combat and offboard system integration, modular payload systems, and life-cycle solutions., May 2023: Garden Reach Shipbuilders and Engineers Ltd established the GRSE Accelerated Innovation Nurturing Scheme to find and stimulate the creation of new solutions as part of the shipyard's technological development activities. GAINS intends to address current and emerging ship design and construction issues while simultaneously accomplishing the goals of Atmanirbhar Bharat., March 2023: The Ministry of Ports, Shipping, and Waterways (MoPSW) in India launched the 'Green Tug Transition Programme' (GTTP) to make India a global hub for building green ships. The GTTP will convert all tugboats operating in the country into 'Green Hybrid Tugs' that run on non-fossil fuels such as Methanol, Ammonia, and Hydrogen.. Key drivers for this market are: Increasing Trade Activities Between Countries to Drive the Market. Potential restraints include: Fluctuation in Transportation and Inventory Cost May Hamper the Growth of the Market. Notable trends are: Increasing Trade and Naval Activities Between Countries to Drive the Market.

Explore the Ship Building Market trends! Covers key players, growth rate 5.8% CAGR, market size $295.63 Billion, and forecasts to 2034. Get insights now!

In 2021, China's shipbuilding industry held a 48.4 percent share of the global shipbuilding market, based on the metric tons of deadweight completed in that year. In addition, new orders received and orders in hand held 52 percent and 48.1 percent of global share in 2021, respectively.

The size and share of the market is categorized based on Type (Commercial Ships, Naval Ships, ) and Application (Transportation, Defense, ) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

European shipbuilding has contended with fierce international competition from Asian shipyards, which has siphoned sales away from cargo shipbuilders and restricted revenue growth over the past decade. Further adding to the industry’s woes, the COVID-19 pandemic weighed heavily on demand as travel came to a standstill. In 2020, contracting levels at European yards were extremely low, with only 0.9 million compensated gross tonnage (mCGT) ordered, down 64% from 2019. The three EU countries with the most significant order books – Italy (through Fincantieri SpA), Germany and Finland – have suffered from weaker order volumes post-pandemic compared to China and South Korea; figures from SWZ Maritime show that in spring 2023, China and South Korea's global shipbuilding output accounted for 48.7 mCGT and 38.7 mCGT, respectively, compared with EU, Norway and the UK's collective output of 8.5 mCGT. Over the five years through 2024, revenue is expected to tumble at a compound annual rate of 3.1% to €53.8 billion. Revenue tanked in 2020, predominately led by Germany, where shipbuilding revenue plummeted by 54.6%. Weak order volumes throughout the year had a lagged impact, weighing on the industry's recovery, given that ship construction can take up to 24 months. Similarly, the average profit margin has tumbled because of high costs for key inputs, like steel; world steel prices more than doubled in 2021 as global supply dropped and demand skyrocketed following the pandemic. Prices remain elevated in 2023, lowering the global competitiveness of European shipbuilding. Over 2024, revenue is forecast to contract by 2.1% as intense international competition limits demand. Over the five years through 2029, revenue is slated to climb at a compound annual rate of 3.6% to reach €64.3 billion. Asian shipyards will continue taking global market share away from Europe and pressure revenue growth. However, opportunities remain in the military segment of the market, with increased defence budgets causing an uptick in naval ship orders, benefitting the likes of BAE Systems. Similarly, ongoing support from European governments will fuel the development of shipbuilding and ship repair yards, offering tax incentives and other assistance to encourage investment in the sector.

The China shipbuilding market, as per historic five year analysis, is valued at 633 million USD. It is driven by rising domestic tourism, increasing disposable incomes, and strategic government investments. Get the more industry growth, segmentation, key players and revenue statistics.

Global Shipbuilding market size 2025 was XX Million. Shipbuilding Industry compound annual growth rate (CAGR) will be XX% from 2025 till 2033.

The size and share of the market is categorized based on Application (Civil Ship, Military) and Product (Power Cable, Control Cable, Communication Cable) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

The North America Shipbuilding Market is valued at USD 50 billion, driven by a combination of factors including the strong demand for naval and commercial vessels, government defense budgets, and advancements in shipbuilding technologies.

In 2019, the leading ten ship building companies in China accounted for 67.2 percent of the total tonnage completed by the Chinese shipbuilding industry. This was a slightly lower value than in the previous year.

The ship repair and maintenance service market is expected to be valued at US$ 28,169.45 million in 2024. The ship repair and maintenance services are predicted to rise at a moderate CAGR of 6.6% from 2024 to 2034. The global market is anticipated to reach US$ 53,375.69 million by 2034.

Attributes	Key Insights
Estimated Market Size in 2024	US$ 28,169.45 million
Projected Market Value in 2034	US$ 53,375.69 million
Value-based CAGR from 2024 to 2034	6.6%

2019 to 2023 Historical Analysis vs. 2024 to 2034 Market Forecast Projections

Historical CAGR from 2019 to 2023	5.5%
Forecast CAGR from 2024 to 2034	6.6%

Country-wise Analysis

Countries	Forecast CAGRs from 2024 to 2034
The United States	4.6%
Canada	2.9%
Australia	5.5%
China	7.3%
The United Kingdom	3.7%

Category-wise Insights

Category	Market Share in 2024
Bulk Carrier	33.7%
Hull Part	29.4%

Report Scope

Attributes	Details
Estimated Market Size in 2024	US$ 28,169.45 million
Projected Market Valuation in 2034	US$ 53,375.69 million
Value-based CAGR 2024 to 2034	6.6%
Forecast Period	2024 to 2034
Historical Data Available for	2019 to 2023
Market Analysis	Value in US$ million
Key Regions Covered	North America Latin America Western Europe Eastern Europe South Asia and Pacific East Asia The Middle East and Africa
Key Market Segments Covered	Vessel Type Service Type Region
Key Countries Profiled	The United States Canada Brazil Mexico Germany The United Kingdom France Spain Italy Russia Poland Czech Republic Romania India Bangladesh Australia New Zealand China Japan South Korea GCC countries South Africa Israel
Key Companies Profiled	Damen Shipyards Group Sembcorp Industries Ltd. Cochin Shipyard Limited China Shipbuilding Industry Corporation Fincantieri S.p.A. Dae Sun Shipbuilding & Engineering Co. Ltd. Hyundai Mipo Dockyards Co. Ltd. Arab Shipbuilding and Repair Yard Company Dormac Ship repairs Alexandria Shipyard

The global shipbuilding software market size is valued at USD 1287 million in 2025 and is projected to grow from USD 1360 million in 2023 to USD 1846 million by 2033, exhibiting a CAGR of 4.3% during the forecast period. The market growth is attributed to the increasing adoption of advanced technologies, such as digital twinning and artificial intelligence (AI), to enhance efficiency and sustainability in shipbuilding processes. Additionally, the rising demand for new vessels and the need for fleet modernization to meet IMO environmental regulations are driving the market expansion. North America and Europe are the dominant regions in the shipbuilding software market, accounting for a significant share due to the presence of established shipyards and the adoption of advanced technologies. The Asia Pacific region is projected to witness substantial growth due to increasing investments in shipbuilding infrastructure and the expansion of maritime trade. Key players in the market include Altair, AVEVA, Cadmatic, Engineering Industries eXcellence, Floorganise, Focus Softnet, FORAN, IFS, JANUS Engineering, Lincoln Electric, MRPeasy, Notilus, Siemens Digital Industries Software, and SSI ShipConstructor. These companies offer a range of software solutions that cater to the specific needs of shipyards and naval architects.

The global digital shipbuilding market size was valued at USD 16.35 billion in 2024 and is expected to expand at a compound annual growth rate (CAGR) of 9.6% from 2025 to 2033, reaching a value of USD 34.31 billion by 2033. Digital shipbuilding refers to the application of digital technologies such as 3D modeling, virtual reality (VR), augmented reality (AR), and artificial intelligence (AI) in the shipbuilding process. This market is driven by the increasing demand for more efficient and cost-effective shipbuilding methods, as well as the need for improved safety and environmental compliance. The key market drivers include the growing adoption of digital technologies in the shipbuilding industry, the increasing demand for new ships, and the need for improved shipbuilding efficiency. Key trends include the development of new digital shipbuilding technologies, the increasing use of data analytics, and the growing adoption of digital twin technology. The regions with the largest market share in 2024 were Asia Pacific, followed by Europe and North America. The Asia Pacific region is expected to continue to dominate the market during the forecast period, due to the increasing demand for new ships from emerging economies such as China and India.

The global Robotics in Shipbuilding market size was valued at USD XX million in 2025 and is projected to reach USD XX million by 2033, exhibiting a CAGR of XX% during the forecast period (2025-2033). The market growth is attributed to the increasing adoption of advanced technologies in the shipbuilding industry to enhance efficiency, productivity, and safety. Rising demand for automated and customized shipbuilding processes, coupled with the growing focus on reducing operating costs, further drives market growth. Major companies operating in the market include ABB, Comau, Daewoo Shipbuilding & Marine Engineering, Fanuc Corporation, GE, Hyundai Heavy Industries, Inrotech, Seiko Epson Corporation, Kawasaki Robotics, KRANENDONK, Kuka AG, and Sarcos. The robotics in shipbuilding market is segmented into type (welding robot, cutting robot, painting robot, collaborative robot, and others), application (shipyard, ship repair plant, and others), and region (North America, South America, Europe, the Middle East & Africa, and Asia Pacific). The welding robot segment held the largest market share in 2025, owing to its widespread use in automated welding operations for high-precision and efficient joining of metal components. The shipyard segment is anticipated to witness the highest growth rate during the forecast period due to the increasing adoption of robotic solutions for various shipyard operations, including welding, cutting, and painting. The Asia Pacific region dominated the market in 2025 and is projected to maintain its dominance during the forecast period, driven by the presence of major shipbuilding hubs in China, Japan, and South Korea. The global robotics in shipbuilding market is anticipated to reach $X billion by 2028, growing at a CAGR of X% over the forecast period (2023-2028). This growth can be attributed to rising demand for shipbuilding, growing labor shortages, and the need for increased efficiency in shipyards.