The ‘Global Shipbuilding Market Report: 2019 Edition’ report has been added to ResearchAndMarkets.com’s offering. A summary of the report’s findings can be found below.
The global shipbuilding market is expected to grow in future due to increasing seaborne trade and economic growth, rising energy consumption, demand of eco-friendly ships and shipping services.
Key trends of this market growing market segments, significant consumption of steel, average age of global fleet, advancements in container shipping, and rising demand for LNG-fuelled engines. In Japan, several reforms have taken place. In Korea, the government is taking various initiatives to support the shipbuilding industry. However, there are some factors which can hinder market growth, including the associated risks of cyber breaches and environmental regulations.
South Korea is a major contributor to the global shipbuilding market in terms of new shipbuilding orders, and Europe has been observing growth in its shipbuilding orderbook. Meanwhile China holds a lion’s share of global shipbuilding completions.
The global shipbuilding industry is primarily dominated by three companies: HHI, DSME and SHI (all based in South Korea). In terms of new orders, HHI leads the industry followed by DSME. Soon a merger is expected between these two shipbuilders.
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