Ship Repairing Market Report 2026

The ship repairing market size has grown strongly in recent years. It will grow from $38.45 billion in 2025 to $41.48 billion in 2026 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to growth of global shipping operations, aging commercial and naval fleets, rising frequency of vessel maintenance cycles, expansion of maritime trade routes, availability of global repair dock networks.

The ship repairing market size is expected to see strong growth in the next few years. It will grow to $58.77 billion in 2030 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to increasing investments in advanced repair technologies, rising demand for quick turnaround repair services, expansion of offshore vessel maintenance, growing adoption of remote diagnostics, increasing regulatory compliance requirements. Major trends in the forecast period include increasing adoption of condition-based maintenance practices, rising demand for engine and hull repair services, growing use of digital inspection tools, expansion of emergency repair capabilities, enhanced focus on safety standards.

The growing seaborne trade is expected to drive the ship repairing market forward. Seaborne trade involves transporting goods and commodities by sea, forming the backbone of international commerce by enabling large-scale, cost-efficient movement of raw materials, energy resources, and manufactured products across global supply chains. The increase in seaborne trade is fueled by rising global consumption, industrial output, and energy demand, which necessitate a larger and more modern fleet to handle growing cargo volumes. This expansion in maritime transport directly supports new vessel construction and fleet modernization, boosting the shipbuilding sector. For instance, in October 2024, according to the Review of Maritime Transport 2024 published by the United Nations Conference on Trade and Development (UNCTAD), a Switzerland-based intergovernmental organization, global seaborne trade reached 12.29 billion tons in 2023, a 2.4% increase over 2022, reversing the prior decline. Consequently, the rise in seaborne trade is driving growth in the ship repairing market.

Major companies in the ship repair sector are increasingly focused on launching new repair operations. For example, in August 2024, Cochin Shipyard Limited (CSL), an India-based shipbuilding and repair company, commenced commercial operations at its newly established International Ship Repair Facility (ISRF) in Kochi. The facility successfully docked the HSC Parali, a vessel belonging to the Lakshadweep Administration. The Kerala state-owned shipyard aims to position itself as a global hub for ship repairs, serving both commercial vessels and naval/military ships.

In February 2023, Lone Star Funds, a private equity company based in the United States, acquired Titan Acquisition Holdings for an undisclosed amount. This acquisition ensures that Titan and its operating companies maintain their unwavering commitment to core values, including safety, compliance, quality, customer satisfaction, and competitiveness. Titan Acquisition Holdings is a US-based ship-repairing company.

Major companies operating in the ship repairing market report include Fincantieri S.p.A., United Shipbuilding Corporation, Sembcorp Marine Ltd, China Shipbuilding Industry Corporation, Imabari Shipbuilding Co. Ltd., Hyundai Mipo Dockyard Co. Ltd., Damen Shipyards Group, Cochin Shipyard Limited, Hanjin Heavy Industries And Construction, Arab Shipbuilding and Repair Yard, Hindustan Shipyard Limited, Garden Reach Shipbuilders and Engineers, Mitsubishi Heavy Industries, Yangzijiang Shipbuilding (Holdings) Ltd., New Times Shipbuilding Co. Ltd., Daewoo Shipbuilding & Marine Engineering Co. Ltd (DSME), Tsuneishi Holdings, Naval Yards Kiel GmbH, Lloyd Werft Bremerhaven, Neptune Werft GmbH, Schiffswerft Hermann Barthel GmbH, Meyer Werft, Limited Liability Company Fesco Integrated Transport, Remontowa, Seatech Engineering, General Dynamics Corporation, International Ship Repair and Marine Services Inc., GMD Shipyard Corp., Irving Shipbuilding Inc., Victoria Shipyards, BAE Systems, Lyon Shipyard, Gulf Copper, Astillero Nacional, Servicios Industriales De La Marine S.A., Estaleiros sermetal ltd, Enavi & Renave, Caribbean Drydock Company, Damex Shipbuilding & Engineering, ShipTech, Dammam Shipyard, Zamil Offshore, Israel Shipyards Ltd., Gemak Group of Companies, Sefine Shipyard, Kuzey Star Shipyard, Desan Shipyard, Southern African Shipyards, Dormac Marine & Engineering, Southern Engineering Co. Ltd., West Atlantic Shipyard, Nigerdock FZE.

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

The ship repairing market include revenues earned by entities by repairing 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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