Ship Building Market Report 2026

The ship building market size has grown strongly in recent years. It will grow from $206.89 billion in 2025 to $217.92 billion in 2026 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to expansion of global seaborne trade, growth in container and bulk carrier orders, increasing investments in shipyard capacity, rising demand for specialized vessels, availability of skilled marine engineering workforce.

The ship building market size is expected to see strong growth in the next few years. It will grow to $275.09 billion in 2030 at a compound annual growth rate (CAGR) of 6%. The growth in the forecast period can be attributed to increasing tightening of maritime emission norms, rising adoption of alternative fuel vessels, expansion of cruise and ferry construction, growing investments in digital shipbuilding tools, increasing demand for high-capacity cargo ships. Major trends in the forecast period include increasing demand for fuel-efficient vessel designs, rising adoption of advanced hull construction techniques, growing integration of automation in shipyards, expansion of lng and alternative fuel ships, enhanced focus on safety and compliance.

The growth in seaborne trade is expected to support the expansion of the shipbuilding market. Factors such as population growth, rising consumer purchasing power, and improving living standards are increasing demand for consumer goods, which in turn is driving higher production levels and accelerating industrialization. For example, in June 2023, according to the Review of Maritime Transport 2023 published by the United Nations Conference on Trade and Development (UNCTAD), total seaborne trade reached 12.02 billion tons in 2022. While containerized trade declined by 3.7%, oil and gas trade increased by 6% and 4.6%, respectively. Projections for 2023 indicated a 2.4% rise in total seaborne trade and a 1.2% increase in containerized trade, followed by expected annual growth rates of 2.1% for total seaborne trade and 3.2% for containerized trade in 2024. Consequently, increasing seaborne trade is contributing to the growth of the shipbuilding market.

Major companies operating in the shipbuilding and repairing market are introducing new products, such as green container ships, to reach broader customer bases, drive higher sales, and generate increased revenue. Green container ships are vessels designed to minimize environmental impact and reduce carbon emissions. For instance, in April 2023, Maersk A/S, a Denmark-based shipping company, launched a green methanol-powered container ship. This feeder vessel has a capacity of 2,100 TEU and is the first of nineteen carbon-neutral ships planned to operate on green methanol fuel. Maersk has also been securing suppliers to provide approximately 1 million metric tons of green methanol annually to fuel its methanol-powered fleet, a move expected to prevent around 2.3 million metric tons of CO₂ emissions each year compared with conventional-fuel ships.

In February 2025, Maersk, a Denmark-based shipping and logistics company, partnered with Cochin Shipyard Limited (CSL) to explore ship repair and shipbuilding activities. Through this collaboration, Maersk aims to strengthen maritime capabilities and promote local shipbuilding and maintenance expertise by leveraging CSL’s advanced infrastructure and experience in constructing and servicing vessels, thereby supporting efficient and high-quality shipbuilding and repair operations. Cochin Shipyard Limited is an India-based company specializing in the construction and maintenance of both commercial and defense ships.

Major companies operating in the ship building market report include Korea Shipbuilding & Offshore Engineering Co. Ltd, Samsung Heavy Industries, Fincantieri S.p.A., Daewoo Shipbuilding & Marine Engineering Co Ltd, Imabari Shipbuilding Co. Ltd, Yangzijiang Shipbuilding Ltd, CSSC Offshore and Marine Engineering Group Company Limited, Mitsubishi Heavy Industries, United Shipbuilding Corporation, Tsuneishi Shipbuilding, Cochin Shipyard Limited, Western India Shipyard, Hindustan Shipyard Ltd, Adani Kattupalli Shipyard (Larsen & Toubro), Shanghai Waigaoqiao Shipbuilding Co., Ltd, China Shipbuilding Industry Co., Ltd, Amur Shipbuilding Plant, Vyborg Shipyard JSC, Zvezda Shipbuilding (SSK), JSC Okskaya Shipyard, Fosen Yard Emden GmbH, Monterey Boats, Bertram Yachts, Back Cove Yachts, Crestliner Boats, Master Boat Builders, Inc., Flexboat Năutica, OKEAN YACHTS.

Asia-Pacific was the largest region in the shipbuilding market in 2025. Western Europe was the second largest market in global shipbuilding market share. The regions covered in the ship building market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the ship building market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The shipbuilding market include revenues earned by entities by construction of ships, conversion, and alteration. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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