Global Shipbuilding Market Trends, Opportunities & Industry Outlook
The global shipbuilding industry is in a phase of steady recovery and growth, fueled largely by rising demand for maritime transport and continued globalization of trade. According to MRFR, the market was valued at USD 155.91 billion in 2023, and is projected to reach USD 197.94 billion by 2030, with a compound annual growth rate (CAGR) of about 2.67% (2024–2030).
Several global trends are driving this growth. First, increasing international seaborne trade continues to demand new ships — cargo vessels, container ships, tankers, ferries, and multi-purpose ships — to support the movement of goods worldwide. As global supply chains expand, the need for additional fleet capacity rises correspondingly. This has led to a higher volume of ship orders, especially in cargo and container segments.
Second, technological advancements in shipbuilding processes are helping improve efficiency and reduce build times. Innovations in design, production planning, processing, assembly, and outfitting have streamlined shipbuilding, enabling yards to deliver high-quality vessels within tighter schedules.
Third, after the shock of the COVID-19 pandemic — which disrupted shipping, logistics, and global trade — the industry has gradually rebounded. Revival in demand for maritime transport, along with government support in many countries, has helped restore shipbuilding activities.
That said, the growth is moderated by some structural challenges. Shipbuilding remains a capital- and labor-intensive industry. High operational costs, resource constraints, and fluctuating raw-material prices continue to pose headwinds.
Overall, the steady growth projected through 2030 suggests that stakeholders — shipyards, ship owners, investors, and governments — view maritime transport and sea-borne trade as long-term fundamentals. As global commerce continues to expand and supply-chain demands evolve, shipbuilding will likely remain a critically important industry for at least the next decade.
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