Green shipbuilding technologies for energy saving are a big trend in the ship and boat building and repair market
(MENAFN – ONE Presswire)
Global Ships and Boats Construction and Repair Market Report 2021: COVID-19 Impact and Recovery by 2030
Global Ship & Boat Building & Repair Business Research Company Market Report 2021: Impact of COVID-19 and Recovery Till 2030
LONDON, GREATER LONDON, UK, May 31, 2021 / / – Shipbuilding companies around the world are increasingly adopting environmentally friendly shipbuilding technologies to comply with environmental codes and regulations. Technologies used in shipbuilding include non-ballasted ships that block organisms from entering the ship and eliminate the need for sterilization equipment, sulfur scrubber systems, waste heat recovery systems, speed nozzles, exhaust gas recirculation systems, advanced rudder and propeller systems, propellant and solar cell propulsion systems, and use of LNG fuels for drive and auxiliary motors. Ships built with these technologies have significant energy savings and low CO2 emissions. For example, Peace Boat, a Japanese non-profit NGO, has reached an agreement with the Finnish shipbuilding company Arctech Helsinki Shipyard to build Ecoship, the world’s most environmentally friendly cruise ship. The Dean Shipyards Group is also coordinating a green LeanShips project that aims to build low-pollution ships.
It is divided according to type into shipbuilding, ship repair, boat building and boat repair.
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The global ship and boat building and repair market is projected to grow from $ 219.3 billion in 2020 to $ 234.1 billion in 2021 with an average annual growth rate (CAGR) of about 6%. The growth is mainly due to companies reorganizing their operations and recovering from the effects of COVID-19, which previously resulted in restrictive containment measures involving social distancing, remote working and the closure of commercial activities that created operational challenges. The market is expected to reach $ 282.5 billion in 2025 at a CAGR of 5%.
The Asia-Pacific region is the largest region in the global ship and boat building and repair market, accounting for 49% of the market in 2020. North America is the second largest region with a 21% share of the world market. Africa is the smallest region in the boat and shipbuilding and repair market.
Key companies in the shipbuilding industry analysis report include Daewoo Shipbuilding & Marine Engineering Co Ltd, Hyundai Heavy Industries, Mitsubishi Heavy Industries, Samsung Heavy Industries, and General Dynamics.
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