Overview of Shipbuilding Market in Global Industry : Market Development, Analysis and Demand 2017
The report titled Global Shipbuilding Market: Size, Trends and Forecasts (2016-2020) provides an in-depth analysis of the global shipbuilding market with detailed analysis of market size and growth, market share and economic impact of the industry. The report also provides market size of each of the segments of the market on the basis of the types of ships.
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The report provides detailed regional analysis of Asian countries, leading the global market, which are South Korea, Japan and China. Regional analysis includes market size of the basis of new orders, order book, order completions and delivery trend along with the commercial vessel market.
The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. The current status of the overall global shipbuilding market has been analyzed, taking into consideration the previous growth patterns, the growth drivers and the current and future trends. The competition in the global shipbuilding market is stiff and dominated by the big players like DSME. Further, key players of the market Hyundai Heavy Industries and Mitsubishi Heavy Industries are also profiled with their financial information and respective business strategies.
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Regional Coverage
South Korea
Japan
China
Company Coverage
Daewoo Shipbuilding and Marine Engineering Company
Hyundai Heavy Industries Co., Ltd.
Mitsubishi Heavy Industries, Ltd.
Executive Summary
The maritime business has long been known for being cyclical. In times of growth and high profits, ship owners have positive cash flows and they order new capacity. This capacity, however, takes time to be delivered. There are waiting times, because shipbuilding berths tend to be full in times of prosperity; any new construction will only be started two to three years after it has been ordered, and then the construction itself can take up to one year. During the industry's boom years, the world saw records for new vessel orders being set year after year. The companies in this industry build and repair barges, cargo ships, naval vessels, and passenger ships, as well as platforms used for oil and gas drilling and production.
The global shipbuilding market can be analyzed on the basis of new orders, order book and delivery trend of ships. Currently, the market is experiencing tough times but is expected to regain its momentum with Asia leading the global market. South Korea, China, and Japan are the leading countries in the market accounting almost the entire global shipbuilding market. The shipbuilders in a given country typically specialize in certain types of vessels. South Korean companies, tend to focus on containerships and tankers. China produces large numbers of dry bulk containers and Japan builds large numbers of oil tankers.
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The growth drivers of the global shipbuilding market, especially for the global shipbuilding market are: rise in seaborne trade & shipping confidence level and upsurge in the demand for eco-friendly ships. Despite the market is governed by various growth drivers, there are certain challenges faced by the market such as: volatile oil prices, write-downs on existing backlogs, increasing competition in the commercial segment, delay in financial decisions, political & financial instability, financial crises and stringent environmental regulations.
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