The global shipbuilding market is expected to increase by a compound annual

Shipbuilding market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe.

But If we look at the statistics, the increasing seaborne trade is predicted to contribute to the growth of the shipbuilding market. The growth of transportation of world trade products by sea transport results the increasing need building all type of cargo ships that contribute the development of shipbuilding market.

If we look at the expectations of the size of the global shipbuilding market for 2020-2030, we will see that the global shipbuilding market is expected to increase by a compound annual.

According to statistics, 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 projected to increase to over 195 billion U.S. dollars in size in 2030. 

Lets look at the shipbuilding capacity worldwide 2013-2026

As is known most of the shipbuilding capacity lies in Asia. Shipyards in China, South Korea, and Japan manufactured around 86 percent of all ships in 2020.

Based on a research Global shipbuilding capacity has been falling since 2013 but is projected to bounce. But in 2023 and reach some 44 million CGT in 2026.