Shipbuilding Market Size, Share, Growth Analysis, By Type(Vessel, Container, Passenger), By End User(Transport Companies and Military), By Region - Industry Forecast 2024-2031

The region that contributes the most money to the worldwide shipbuilding industry is Asia-Pacific, and it is projected that it will expand at a CAGR of 4.93% over the next few years. A total of 12 of India's main ports handle over 61% of the country's total cargo volume, while the country has about 28 shipyards scattered throughout many states. Additionally, over 60% of the navy budget is devoted to capital expenditures, and over 70% of the capital budget for the military has been spent on domestic purchases over the past five years. According to data from China's Ministry of Industry and Information Technology (MIIT), China accounts for a sizable chunk of the global market in terms of delivery orders and order books, with corresponding shares of 43.1%, 48.8%, and 44.7%.

Over the projection period, Europe is anticipated to generate USD 3.41 billion at a CAGR of 4.80%. International commerce is a major priority for the German government. A robust and globally competitive maritime industry is crucial for the economy because it increases Germany's competitiveness and fosters growth and employment. In the shipbuilding and maritime industries, there are over 2,800 enterprises, and nine shipyards support the German navy shipbuilding industry. On deliveries from German shipyards, it generates a value that is 85% domestic. With the country's decision to leave the European Union, the United Kingdom places a higher priority on maritime security than before. More than 400 ports in the UK are used by more than 95% of all imports and exports from the UK.