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Ship Building And Repairing Market Revenue Outlook: What CAGR Lies Ahead Through 2030?
The ship building and repairing market size has grown strongly in recent years. It will grow from $245.34 billion in 2025 to $259.39 billion in 2026 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to aging global vessel fleet, expansion of international shipping operations, increasing demand for dry-docking services, rising compliance requirements for maritime safety, availability of specialized repair shipyards.
The ship building and repairing market size is expected to see strong growth in the next few years. It will grow to $333.86 billion in 2030 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to increasing adoption of smart maintenance technologies, rising demand for emission retrofitting services, expansion of offshore vessel repairs, growing investments in automated repair tools, increasing focus on downtime reduction. Major trends in the forecast period include increasing focus on predictive maintenance services, rising demand for vessel life extension solutions, growing adoption of digital repair management systems, expansion of conversion and retrofit services, enhanced emphasis on regulatory compliance.
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Ship Building And Repairing Market Industry Drivers: What’s Behind The Revenue Growth?
The increase in global trade is expected to boost the growth of the ship building and repairing market going forward. Global trade refers to the exchange of goods, services, and capital across international borders or territories. Shipping capacity is required to deliver commodities across international borders as global trade expands. This growing demand for cargo ships, container ships, and bulk carriers propels the development of new vessels, encouraging the shipbuilding and repair sector. For instance, in September 2023, according to a report published by the United Nations Conference on Trade and Development, a Switzerland-based intergovernmental organization, the maritime trade is anticipated to increase by 2.4% in 2023 and by more than 2% from 2024 to 2028. Therefore, the increase in global trade is driving the growth of the ship building and repairing market.
Ship Building And Repairing Market Segmentation: How Does The Market Break Down By Category?
The ship building and repairing market covered in this report is segmented –
1) By Type: Ship Building, Ship Repairing
2) By Type Of Vessel: Tankers, Bulkers, Containerships, Offshore, Refrigerated Vessels, Passenger, Other Type Of vehicles
3) By End-User: Passenger Transportation, Goods Transportation
Subsegments:
1) By Ship Building: New Vessel Construction, Specialized Shipbuilding
2) By Ship Repairing: Routine Maintenance And Inspections, Major Repairs And Refurbishments, Conversion Services
Ship Building And Repairing Market Transformation Trends: What Innovations Are Driving Change?
Major companies operating in the shipbuilding and repairing market are developing new products such as the green container ships to meet larger customer bases, more sales, and increased revenue. Green container ships are vessels that are designed to reduce their environmental impact and carbon footprint. For instance, in April 2023, Maersk A/S, a Denmark-based shipping company, launched a green methanol-powered container ship. The product’s distinguishing feature is that it is a feeder ship with a 2,100 TEU capacity, the first of nineteen carbon-neutral vessels that will run on green methanol fuel. Maersk has been busy securing suppliers to supply the roughly 1 million metric tons of green methanol fuel per year that the vessels will need to power its methanol-fueled fleet. Compared to ships that use conventional fuel, this will prevent the atmospheric emissions of around 2.3 million metric tons of CO2 per year.
Ship Building And Repairing Market Competitive Overview And Top Companies
Major companies operating in the ship building and repairing market report include Hyundai Heavy Industries, Samsung Heavy Industries Co., Ltd., Daewoo Shipbuilding & Marine Engineering Co Ltd, Fincantieri S.p.A., General Dynamics Corporation, Imabari Shipbuilding Co., Ltd., China Shipbuilding Industry Co., Ltd., CSCC Offshore & Marine Engineering (Group) Company Ltd, MITSUBISHI HEAVY INDUSTRIES, LTD., Sumitomo Heavy Industries, Ltd, China State Shipbuilding Corporation, Yangzijiang Shipbuilding (Holdings) Ltd., New Times Shipbuilding Co. Ltd., Hudong- Zhonghua Shipbuilding, Tsuneishi Holdings, Oshima Shipbuilding Company, Cochin Shipyard Limited, Hindustan Shipyard Limited, Garden Reach Shipbuilders and Engineers, Lloyd Werft Bremerhaven, Neptune Werft GmbH, Schiffswerft Hermann Barthel GmbH, Meyer Werft, STX, PIRIOU, SOCARENAM, CMN: Chantiers naval de Normandie, Naval Group, A&P Group Tyne Shipyard, Cammell Laird, Parkol Marine Engineering, Yarrow Shipbuilders, NAUTA, Remontowa, Seatech Engineering, CRIST S A, Marine Projects Ltd SP, PO SEVMASH, AO, OSK, Admiralteiskie Verfi, Severnaya Verf, Pella, NEVSKI SSZ, Vard Tulcea, Santierul Naval Damen Galati, Shipyard ATG Giurgiu, Huntington Ingalls Industries Inc., BAE Systems, Dammam Shipyard, Zamil Offshore, Damen Shipyards Group, Israel Shipyards Ltd., Gemak Group of Companies, Sefine Shipyard, Kuzey Star Shipyard, Desan Shipyard, Southern African Shipyards, Dormac Marine & Engineering, DCD Enerji Çevre ve Teknoloji A.S, Southern Engineering Co. Ltd, West Atlantic Shipyard, Nigerdock FZE
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Ship Building And Repairing Market Regional Split: Which Areas Are Fueling Growth?
Asia-Pacific was the largest region in the shipbuilding and repairing market in 2025. Western Europe was the second largest region in the shipbuilding and repairing market. The regions covered in the ship building and repairing market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.
