Shipbuilding implies, in simple terms, the building of ships. It involves the process of design and construction of ships and other floating vessels. Shipbuilding is a labor intensive industry, which means a major chunk of the work is done by humans. Shipbuilding companies manufacture large vessels, particularly seagoing vessels. These vessels are used by trade (merchant and cargo), transport, energy, and military sectors. Shipbuilding companies also offer products and services for building, maintenance, and conversion of vessels. Other products manufactured by shipbuilding companies include tugs, fishing vessels, bunker tankers, small passenger ships, and small general cargo carriers.

The shipbuilding market is expected to grow at a slow but steady pace during the forecast period. Use of new technologies, such as artificial intelligence and automation, is a key driver of the shipbuilding market across the world. Adoption of robotic technologies is likely to rise in the shipbuilding market in the near future.

Additionally, as more and more countries around the world open their shores to international trade, demand for products manufactured by shipbuilding companies is expected to rise in the next few years. Furthermore, relaxing of trade regulations is projected to help fuel the growth of the global shipbuilding market in terms of facilitating ease of movement of goods across borders. Many countries across the globe are commissioning the construction of inland waterway systems for easy movement of goods within borders. Opening of inland waterways also opens newer avenues for passenger transport which is expected to increase the demand for products of the shipbuilding industry. Also, growing security concerns are anticipated to drive governments to shore up their naval fleets, which in turn, is likely to boost the order-books of shipbuilding manufacturers.

National security concerns are likely to augment research and development activities in the global shipbuilding market in the near future. Trade outlook of key commodities such as crude oil and gold, among other commodities, is also expected to boost the demand for products of the global shipbuilding market. However, there exists a number of potential restraining factors that are anticipated to affect the growth of the global shipbuilding market. The global economic slowdown of 2008 led to drying up of global order-books in this market. Recovery from that position has been slow, which presents itself as a major challenge to the manufacturers of shipbuilding products. The slowdown created a situation of global oversupply and excess capacity. The situation of overcapacity in the shipbuilding market post the economic slowdown of 2008 led governments to take certain drastic measures to revitalize growth in this market. Measures such as subsidies to shipbuilding manufacturers distorted the market. The condition can be addressed only through close and efficient cooperation among national economies—at policy-making as well as strategic levels. Another way to alleviate such distortions is through active involvement of industry participants.

Segmentation for the global shipbuilding market can be done on the basis of ship type, end-user, and region. Based on ship type, the global shipbuilding market can be divided into cruise ships, cargo ships, military vessels, tugs, fishing vessels, bunker tankers, small passenger ships, and small general cargo carriers. In terms of end-user, the global shipbuilding market can be classified into transport companies, military, and others. On the basis of region, the global shipbuilding market can be segmented into North America, South America, Europe, Asia Pacific, and Middle East & Africa. The global shipbuilding market is dominated by Asian players.

Key companies operating in the global shipbuilding market include Hyundai Heavy Industries, Daewoo Shipbuilding and Marine Engineering, Samsung Heavy Industries, Mitsubishi Heavy Industry, TSUNEISHI SHIPBUILDING Co.,Ltd., Imabari Shipbuilding, Northstar Shipbuilding Private Limited, L&T India, and United Shipbuilding Corporation.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

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Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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