Global Ship & Boat Building Market Size to Exceed USD 580.5 Billion by 2035 | CAGR of 11.09%
Category: Aerospace & DefenseGlobal Ship & Boat Building Market Size to Exceed USD 580.5 Billion by 2035
According to a Research Report Published by Spherical Insights & Consulting, The Global Ship & Boat Building Market Size is expected to Grow from USD 182.5 Billion in 2024 to USD 580.5 Billion by 2035, at a CAGR of 11.09% during the forecast period 2025-2035.
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Browse 210 Market Data Tables And 45 Figures Spread Through 190 Pages and In-Depth TOC On the "Global Ship & Boat Building Market Size, Share, and COVID-19 Impact Analysis, By Type (Vessel, Container, Passenger, and Other Types), By End User (Transport Companies, Military, and Other End Users), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2025 – 2035." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/global-ship-boat-building-market
The ship & boat building market refers to the global economic sector emphasizing the design, engineering, construction, repairing, and conversion of watercraft. Ship & boat building refers to the building of large ocean-going vessels, usually steel, and the construction of smaller vessels from materials like wood, steel, aluminium, glass fiber, or new composite. The increased international seaborne trade, advancements in fuel efficiency, and 3D printing technology adoption are responsible for driving the growth of ship & boat building. The development of eco-friendly vessels and the adoption of smart technologies are escalating the market growth opportunity. The increasing global trade with surging emphasis on sustainable & energy-efficient solutions by the marine customers is driving the ship & boat building market. On the contrary, the environmental regulations, high production and maintenance costs, and lack of skilled workforce are challenging the market.
The vessel segment dominated the market with the largest revenue share in 2024 and is projected to grow at a substantial CAGR during the forecast period.
Based on the type, the ship & boat building market is divided into vessel, container, passenger, and other types. Among these, the vessel segment dominated the market with the largest revenue share in 2024 and is projected to grow at a substantial CAGR during the forecast period. Vessels, including cargo ships, are designed for transporting unpackaged bulk cargo, like grains, coal, and minerals. The growing need for military vessels such as destroyers and frigates, owing to strategic maritime defense needs, is propelling the market demand.
The adults segment accounted for a significant share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the age group, the Ship & Boat Building market is divided into minors, adults, and seniors. Among these, the adults segment accounted for a significant share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period. The segmental growth is due to this group usually having stable employment and disposable income, with the ability to pay premiums and purchase long-term financial planning instruments such as life insurance. Insurers also aim for this group as it provides an adequate balance between affordability and insurability as a result of their reduced health risk as compared to seniors.
The transport companies segment accounted for the largest market share in 2024 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the end user, the ship & boat building market is divided into transport companies, military, and other end users. Among these, the transport companies segment accounted for the largest market share in 2024 and is anticipated to grow at a significant CAGR during the forecast period. Ships and boats are used for the transportation of petroleum-based products, crude oils, mineral ores, and other similar manufactured goods. The increased load-carrying capacity, affordability, and fuel efficiency, responsible for propelling the market.
North America is expected to hold the majority share of the global Ship & Boat Building market during the forecast period.
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North America is expected to hold the majority share of the global Ship & Boat Building market during the forecast period. The region’s robust infrastructure in countries like the US, Canada is responsible for the ship & boat building market. The strong demand for naval & commercial vessels, government defense budgets, and shipbuilding technological advancements are propelling the market demand.
Asia Pacific is anticipated to grow at the fastest pace in the global Ship & Boat Building market during the forecast period. An extensive shipbuilding infrastructure and government support, as well as the presence of primary manufacturing powerhouses in countries like China, Japan, and South Korea, are responsible for the ship & boat building market.
Major vendors in the global Ship & Boat Building market are Mitsubishi Heavy Industries Ltd, Hyundai Heavy Industries Co. Ltd., China State Shipbuilding Corporation, Daewoo Shipbuilding & Marine Engineering Co. Ltd., Samsung Heavy Industries, Sumitomo Heavy Industries, Hanjin Heavy Industries and Construction Co., Yangzijiang Shipbuilding Ltd, United Shipbuilding Corporation, STX Group, and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Key Market Development
- In March 2025, the Canadian government announced the contract award to local shipbuilder Irving Shipbuilding Inc. for the construction of the River-class destroyers (previously known as Canadian Surface Combatants or CSC) for the Royal Canadian Navy.
- In December 2024, Lawmakers unveiled bipartisan legislation to reform the commercial maritime and shipbuilding sectors.
- In September 2024, Damen Shipyards Group signed a contract with WUZ Port and Maritime for an ASD Tug 2111. The ASD Tug 2111 would be one of the most compact vessels in the WUZ fleet. Its 21 metre length makes the tug the perfect solution to operate in the confined spaces of the Port of Gdansk’s Inner Harbour.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the ship & boat building market based on the below-mentioned segments:
Global Ship & Boat Building Market, By Type
- Vessel
- Container
- Passenger
- Other Types
Global Ship & Boat Building Market, By End User
- Transport Companies
- Military
- Other End Users
Global Ship & Boat Building Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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