Dublin, July 15, 2022 (GLOBE NEWSWIRE) -- The "Ship Repairing Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global ship repairing market as it emerges from the COVID-19 shut down.
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Major players in the ship repairing market are Hyundai Mipo Dockyard Co Ltd, China Shipbuilding Industry Corporation (CSIC), Damen Shipyards Group, Sembcorp Marine Ltd, Oman Drydock Company, Cochin Shipyard Limited, United Shipbuilding Corporation, Arab Shipbuilding and Repair Yard, Fincantieri S.p.A, Keppel Offshore and Marine.
The global ship repairing market is expected to grow from $29.73 billion in 2021 to $33.2 billion in 2022 at a compound annual growth rate (CAGR) of 11.7%. The market is expected to grow to $50.2 billion in 2026 at a compound annual growth rate (CAGR) of 10.9%.
The ship repairing market consists of revenue generated by sales of ship repairing services by entities (organizations, sole traders, and partnerships) that operate shipyards. Only goods and services traded between entities or sold to end consumers are included.
The main types in the ship repairing market are oil and chemical tankers, bulk carriers, general cargo, container ships, gas carriers, offshore vessels, passenger ships and ferries, mega yachts, and other vessels. The oil and chemical tankers refer to the tankers that provide oil in ships and are transported. The various applications include general services, dockage, hull part, engine parts, electric works, auxiliary services. The various end-users are transport companies, military, other end-users.
Asia Pacific was the largest region in the global ship repairing market in 2021. Western Europe was the second largest market in ship repairing market.The regions covered in the shipbuilding market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The increasing seaborne trade is predicted to contribute to the growth of the shipbuilding market. The rising population, surging purchasing power of consumers, and improving standards of living are increasing the demand for consumer goods leading to high production and rapid industrialization.