The Latest Shipbuilding Industry Statistics Explained
In 2019, South Korea was the world’s largest shipbuilding nation with 44.2% of global completions.
The statistic indicates that in 2019, South Korea accounted for 44.2% of global ship completions, making it the world’s largest shipbuilding nation for that year. This means that nearly half of all completed ships worldwide originated from South Korea in 2019, showcasing the country’s dominant position in the global shipbuilding industry. This statistic underscores South Korea’s significant role in the maritime sector, highlighting its expertise, capacity, and competitiveness in constructing vessels. Such a high market share also suggests that South Korean shipbuilders are sought after by customers around the world, cementing the country’s reputation as a key player in the shipbuilding market.
The global shipbuilding market could reach $ Ma 162,831 by 2027.
The statistic indicates that the global shipbuilding market is projected to potentially reach a value of $162,831 million (or $162.831 billion) by the year 2027. This projection suggests a significant growth in the industry, attributing to factors such as increasing demand for new ships, technological advancements, and economic conditions. The figure serves as a forecasted estimation of the market size and value, providing insights to stakeholders, investors, and industry players about the potential opportunities and developments expected in the global shipbuilding sector over the next few years.
The commercial sector was the largest contributor of the shipbuilding market in 2019, accounting for more than half of the total share.
In 2019, the shipbuilding market was predominantly driven by the commercial sector, which emerged as the primary contributor by accounting for over 50% of the total market share. This statistic indicates that businesses involved in commercial shipping, such as cargo transportation, passenger cruises, and fishing industries, played a significant role in shaping the shipbuilding industry that year. The dominance of the commercial sector suggests a strong demand for new vessels and maritime infrastructure within these industries, underscoring their economic influence and importance in driving growth and innovation in the shipbuilding market during that period.
China’s shipbuilding industry produced approximately 43.5% of the world’s total shipping tonnage in 2020.
The statistic that China’s shipbuilding industry produced approximately 43.5% of the world’s total shipping tonnage in 2020 highlights the significant global influence and dominance of China in the maritime industry. This statistic suggests that China is a major player in the production of ships, contributing greatly to the world’s shipping capacity. The high percentage indicates that China’s shipbuilding industry is a key driver of economic activity and trade, with implications for global shipping logistics and transportation networks. This data underscores China’s position as a leading manufacturer of ships, shaping the dynamics of the international maritime sector in terms of production volume and market share.
The growth rate of the world shipbuilding industry was 1.3% per annum from 2015-2019.
The statistic ‘The growth rate of the world shipbuilding industry was 1.3% per annum from 2015-2019’ indicates that on average, the output of the global shipbuilding industry increased by 1.3% each year during the specified time period. This growth rate suggests a gradual expansion in the production and economic activity within the shipbuilding sector over the four-year period. It signifies a positive trend in the industry’s performance, implying increased demand for new ships or vessels, infrastructure development, and technological advancements. This statistic serves as a valuable indicator of the industry’s health and potential for future growth and development.
South Korea holds the largest market share in the shipbuilding industry at 37% in 2019.
The statistic indicating that South Korea holds the largest market share in the shipbuilding industry at 37% in 2019 highlights the significant dominance of the country in this sector on a global scale. This figure suggests that more than one-third of all shipbuilding activities around the world took place in South Korea during that year, emphasizing the country’s prowess and competitiveness in the industry. Factors contributing to South Korea’s leading position could include advanced technology, skilled workforce, efficient production processes, and competitive pricing. This statistic underscores South Korea’s strong presence in the shipbuilding market and its role as a key player in shaping the global maritime industry.
Asia-Pacific dominated the shipbuilding market, with a share of more than 90% in 2019.
The statistic indicates that the Asia-Pacific region held a significant market share of over 90% in the global shipbuilding industry in the year 2019. This dominance suggests that the majority of shipbuilding activities, including the construction of various types of vessels such as cargo ships, tankers, and cruise ships, were concentrated in countries within the Asia-Pacific region during that time. Factors contributing to this high market share may include lower labor costs, advanced technology and infrastructure, favorable government policies, and a skilled workforce. The statistic underscores the region’s strong competitive advantage in the shipbuilding sector and its leading position in meeting global demand for maritime transportation and trade.
Chinese shipbuilders gained 21.6 million Compensated Gross Tonnage (CGT) orders in 2020, increasing 29.5% YoY.
The statistic indicates that Chinese shipbuilders received orders for a total of 21.6 million Compensated Gross Tonnage (CGT) in 2020, representing a significant 29.5% year-over-year increase. This suggests a strong performance and growth in the shipbuilding industry in China during the specified period. The CGT metric measures the amount of work a shipyard has by aggregating the tonnage of all vessels under construction. The increase in CGT orders signifies a rising demand for new ships from Chinese shipbuilders, potentially driven by factors such as economic growth, trade patterns, or strategic investments in the maritime sector. This growth may have positive implications for the Chinese economy and the shipbuilding industry in terms of job creation, technological advancements, and overall industrial output.
The shipbuilding sector in Italy showed a growth of 3.4% in 2020.
The statistic that the shipbuilding sector in Italy exhibited a growth of 3.4% in 2020 indicates an expansion in the output and activity levels of shipbuilding companies within the country during that year. This growth percentage suggests that the sector experienced an increase in the number of ships being built or repaired, reflecting a positive trend in the industry. Factors contributing to this growth could include increased demand for new vessels, investments in modernizing shipyards, or improvements in efficiency and productivity within the sector. Overall, the statistic signifies a notable progress and resilience in the Italian shipbuilding industry during a challenging period.
In 2020, Japan’s shipbuilding industry produced around 13.7% of global shipping tonnage.
The statistic states that in 2020, Japan’s shipbuilding industry was responsible for manufacturing approximately 13.7% of the total global shipping tonnage. This indicates that Japan played a significant role in the production of ships on a global scale that year, contributing to a considerable portion of the world’s maritime transportation capacity. The statistic highlights Japan’s strong presence and expertise in the shipbuilding industry, showcasing its competitiveness and capability in this sector compared to other countries around the world.
The overall revenue of the U.S. shipbuilding industry was $26.5 billion in 2020.
The statistic that the overall revenue of the U.S. shipbuilding industry was $26.5 billion in 2020 indicates the total amount of money generated from the sales of ships and related services within the industry during that year. This figure reflects the economic activity and financial performance of U.S. shipbuilders, serving as a key indicator of the industry’s size and contribution to the national economy. The revenue can be influenced by factors such as demand for new ships, government contracts, international trade dynamics, and technological advancements in shipbuilding processes. Understanding and analyzing this statistic can provide insights into the health and growth potential of the U.S. shipbuilding industry, as well as informing policymakers, investors, and stakeholders about its significance and impact.
The Indian shipbuilding industry’s market size was $1.2 billion in 2018.
This statistic represents the total value of the Indian shipbuilding industry in terms of revenue generated in the year 2018, amounting to $1.2 billion. The market size indicates the scale and economic significance of the industry, reflecting the total value of all ships built and related services provided within India during that year. This figure is crucial for understanding the industry’s contribution to the country’s economy, as well as its competitiveness and growth potential within the global shipbuilding market. Analyzing trends in the market size over time can offer insights into the industry’s performance, challenges, and opportunities for future development.
Brazil’s shipbuilding industry delivered 11 ocean going vessels in 2020.
The statistic indicates that Brazil’s shipbuilding industry successfully delivered 11 ocean-going vessels in the year 2020. This can be seen as a measure of the industry’s production and output during that period. The number of vessels delivered is a significant metric for the industry, showcasing its capabilities and level of activity. It highlights the industry’s ability to complete the construction of ships and deliver them for use in ocean transport. This statistic provides insight into the performance and contribution of Brazil’s shipbuilding sector in the global maritime industry in 2020.
References
0. – https://www.www.chinadaily.com.cn
1. – https://www.www.alliedmarketresearch.com
2. – https://www.www.worldatlas.com
3. – https://www.www.statista.com
4. – https://www.www.britannica.com
5. – https://www.www2.deloitte.com
6. – https://www.www.mordorintelligence.com
