Since the maritime industry is growing in leaps and bounds, it’s not surprising that sectors linked to building and repairing ships are showing similar development. The “Ship Building and Repairing Global Market Report 2026 ” by The Business Research Company offers a glimpse into the great heights expected in the years to come, and here’s what you need to know.
Two Key Segments
As per the report, the market for shipbuilding and repairing is expected to reach and even surpass the lofty heights of $330 billion in 2030. Out of these two sectors, shipbuilding is set to be the largest, which will be bolstered by a growing demand for ships, a boost in global trade by sea and a rise in investments.
With this growth in mind, it will no doubt bode well for those gaining internationally recognised qualifications from a reputed maritime training institute. Ideal examples can be found in countries like Sri Lanka, where CINEC Campus has departments for both marine engineering and marine electrical engineering, helping students to expand their careers in different aspects of this industry.
Key Region and Country
Another pertinent aspect which was highlighted was that when it comes to regions, Asia-Pacific is expected to be the largest for these two segments. Also worth noting is that, as per the report forecast, in 2030, China will be the biggest country for ship repairing and building; the market is expected to have a 7% CAGR (Compound Annual Growth Rate), driven by factors like fleet expansion and new offshore and port infrastructure projects.
Factors Driving Growth
There are several reasons why these two sectors in the maritime industry are expected to enjoy growth by 2030. One factor is that there will be many ageing vessels in need of repair, maintenance and upgrades. Another reason is that maritime trade is obviously in demand and expanding, and in turn, the need for more vessels as well. Additional aspects like the increase in marine and coastal tourism, as well as port expansion, are helping to foster a greater demand for shipbuilding and repair.
Opportunities to Tap Into
The markets for goods transportation, as well as building and repairing bulk carriers, are amongst the key opportunities for growth. In fact, these sectors, as well as others, are set to contribute a market value of more than $174 billion by 2030. Of course, aspects such as increasing global trade, naval expansion, vessel lifecycle extension and fleet modernisation are all helping to propel shipbuilding and repairing to new horizons, too.