Emerging Trends, Drivers and Challenges in the Shipbuilding Market 2019-2023

Transport

The global shipbuilding market size will grow by USD 13.14 billion during 2019-2023. This report offers an analysis of the market based on application (commercial and defense) and geography (the Americas, APAC, and EMEA). The market is driven by the increasing seaborne trading. Also, the use of 3D printing in shipbuilding is anticipated to further boost the growth of the market during the forecast period.

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In the last couple of decades, the shipping industry has recorded an increase in the total trade volume. Rapid industrialization and the liberalization of economies are the prominent factors propelling trade volumes between countries. Advances in technology is another factor contributing to the seaborne trading. Factors such as improved fuel efficiency and multi-fuel engine have made shipping an efficient method of transportation. Thus, the increase in seaborne trading will drive the growth of the shipbuilding market.

The use of 3D printing in shipbuilding is another factor that will drive the growth of the global shipbuilding market during the forecast period. The shipbuilding industry is adopting the 3D printing technology in order to improve efficiencies and quality of the manufactured part. This technology is also expected to improve the design standards.

The report includes detailed profiles of the leading companies & prominent vendors of the market: