Ship boat

Global Ship and Boat Building and Repair Market Report 2022

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Major companies in the ship and boat building and repair market include Samsung Heavy Industries Co Ltd, Daewoo shipbuilding & marine engineering, BRP Inc., BRUNSWICK CORPORATION, Fincantieri SpA, General Dynamics, Huntington Ingalls Industries, China Shipbuilding Industry Corp, China CSSC Holdings Limited and Berkshire Hathaway Inc.

New York, May 17, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the “Ship And Boat Building And Repairing Global Market Report 2022” – https://www.reportlinker.com/p06277689/?utm_source=GNW

The global ship and boat building and repair market is expected to grow from $243.12 billion in 2021 to $265.7 billion in 2022 at a compound annual growth rate (CAGR) of 9.3% . The market is expected to reach $369.44 billion in 2026 at a compound annual growth rate (CAGR) of 8.6%.

The ship and boat building and repair market includes sales of ships and boats and ship and boat building and repair services and related services by entities (organizations, sole proprietorships and persons) who operate shipyards. Shipyards are fixed facilities with drydocks and manufacturing facilities capable of constructing a vessel, defined as a watercraft generally adapted or intended for use other than personal or recreational use.

The main types of ship and boat building and repair market are ship building and repair, boat building and repair. motor vehicle surfaces.

Various applications include general service, dockage, hull parts, engine parts, electrical work, ancillary services. These are used in transport companies, military, other end users.

Asia-Pacific was the largest region in the ship and boat construction and repair market in 2021. Western Europe was the second largest ship and boat construction and repair market.

Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Economic Growth in Emerging Markets – The ship and boat building and repair market is supported by steady economic growth predicted in many developed and developing countries. The International Monetary Fund (IMF) forecasts that global GDP growth will be 3.3% in 2020 and 3.4% in 2021. The recovery in commodity prices, after a significant decline during the historical period, is further expected to contribute to the growth of the market. Developed economies are also expected to record steady growth over the forecast period. Moreover, emerging markets are expected to continue to grow slightly faster than developed markets during the forecast period. Steady economic growth is expected to increase investment in end-user markets, thereby boosting the market over the forecast period.

Coronavirus Pandemic, The coronavirus disease (COVID-19) outbreak acted as a massive restraint in the ship and boat building and repair market in 2020 as supply chains were disrupted in due to trade restrictions and consumption has decreased due to lockdowns imposed by governments around the world. COVID-19 is an infectious disease with flu-like symptoms including fever, cough and difficulty breathing.

The virus was first identified in 2019 in Wuhan, Hubei Province in the People’s Republic of China, and has spread around the world, including Western Europe, North America and Asia. Manufacturers of means of transport are highly dependent on the supply of parts and components from different countries around the world.

As many governments restricted the movement of goods between countries, manufacturers had to halt production due to a lack of parts and components. Additionally, new auto sales have fallen significantly due to lower consumer demand as many countries impose lockdowns.

The outbreak continued to hurt businesses throughout 2020 and into 2021. However, the ship and boat building and repair market is expected to recover from the shock over the course of 2020. the forecast period, as it is a “black swan event and not related to ongoing or fundamental events”. weaknesses in the market or the global economy.

Shipbuilding companies around the world are increasingly using green shipbuilding technologies to comply with environmental rules and regulations. recuperation systems, speed nozzles, exhaust gas recirculation systems, advanced rudder and propeller systems, fuel and solar cell propulsion systems and the use of LNG fuels for propulsion and auxiliary engines.

Ships built using these technologies provide significant energy savings and low carbon emissions. For example, Peace Boat, a Japanese non-profit NGO, has entered into an agreement with a Finnish shipbuilding company Arctech Helsinki Shipyard to build Ecoship, the world’s greenest cruise ship. .

Dean Shipyards Group also coordinates a green LeanShips project aimed at creating less polluting ships.

The ship and boat building and repair market countries are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic , Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria , Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore; South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, United Arab Emirates, United Kingdom, United States, Venezuela, Vietnam.
Read the full report: https://www.reportlinker.com/p06277689/?utm_source=GNW

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