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(Transportation-News.com, May 14, 2016 ) The shipbuilding industry is responsible for the design and construction of oceangoing vessels all around the world. The shipbuilding industry is involved in the construction and modification of ships and these operations are carried out in specialized facilities called shipyards. The industry builds ships for commercial as well as military purposes. Most of the global ship production is concentrated in Asian countries such as China, Japan and South Korea, though large shipyards also exist in many other countries.
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Shipbuilding is considered to be one of the oldest, most open and highly competitive markets in the world. Although shipbuilding industry has vast experiences in surviving peaks and slumps of economy, the current global crisis has hit shipbuilding industry more severely. Strong government support and political stability is required in this industry because of being highly capital intensive.
The key factors driving the growth of the market are global seaborne trade, improved economic growth, rising urbanization and increase in global steel production. Some of the noteworthy trends and developments of this industry are green shipbuilding technology, advanced outfitting, ship launching airbag, LNG fueled engines and solar and wind powered ships. However, the expansion of shipbuilding industry can be affected by increased competition, environmental regulations and political and financial instability.
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The report “Global Shipbuilding Market” provides an in-depth analysis of the market, with a focus on regional markets. The major trends, growth drivers as well as issues being faced by the industry are being presented in this report. The major players in the industry, Hyundai Heavy Industries, Samsung Heavy Industries, Daewoo Shipbuilding and Marine Engineering (DSME) and Mitsubishi Heavy Industries are being profiled.
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