Maximize Market Research Pvt. Ltd. reports that the global shipbuilding market, valued at USD 162.14 billion in 2024, is expected to grow to USD 228.82 billion by 2032, representing a compound annual growth rate (CAGR) of 4.4% between 2025 and 2032.
The report highlights the Asia-Pacific region, particularly South Korea, China, and Japan, as the dominant hub for shipbuilding, driven by robust infrastructure, skilled labor, and established manufacturing capabilities.
Emerging trends are shaping the future of shipbuilding, including digital shipyards, autonomous vessels, and smart ships equipped with IoT-based systems, which are expected to redefine operational efficiency, safety, and connectivity in the maritime sector.
Recent developments in the industry focus on sustainable technologies, AI-driven ship design, and government support through subsidies and tax incentives, fostering innovation and growth. At the same time, the market faces challenges such as fluctuations in steel prices, rising labor costs, and supply chain disruptions, which may affect production and delivery timelines.
Key players identified in the report include global shipbuilding leaders such as Hyundai Heavy Industries, Samsung Heavy Industries, Mitsubishi Heavy Industries, Raytheon Technologies, Huntington Ingalls Industries, General Dynamics, Damen Shipyards Group, BAE Systems, STX Offshore & Shipbuilding, Sumitomo Heavy Industries, FINCANTIERI, China State Shipbuilding Corporation, DSME, China Shipbuilding Industry Corporation, United Shipbuilding Corporation, Larsen & Toubro, NorthStar Shipbuilding, and Tsuneishi Shipbuilding.
The analysis underscores that advancements in digitalization, smart technologies, and sustainable practices will be pivotal in driving the next phase of growth in the global shipbuilding market.
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Source: PortNews IAA
