Ship Building and Repairing Market Report 2026

The ship building and repairing market size has grown strongly in recent years. It will grow from $245.34 billion in 2025 to $259.39 billion in 2026 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to aging global vessel fleet, expansion of international shipping operations, increasing demand for dry-docking services, rising compliance requirements for maritime safety, availability of specialized repair shipyards.

The ship building and repairing market size is expected to see strong growth in the next few years. It will grow to $333.86 billion in 2030 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to increasing adoption of smart maintenance technologies, rising demand for emission retrofitting services, expansion of offshore vessel repairs, growing investments in automated repair tools, increasing focus on downtime reduction. Major trends in the forecast period include increasing focus on predictive maintenance services, rising demand for vessel life extension solutions, growing adoption of digital repair management systems, expansion of conversion and retrofit services, enhanced emphasis on regulatory compliance.

The expansion of global trade is expected to support the growth of the ship building and repairing market in the coming years. Global trade involves the exchange of goods, services, and capital across international borders. As global trade increases, greater shipping capacity is required to transport commodities between countries, driving demand for cargo ships, container vessels, and bulk carriers. This rising need for new and well-maintained vessels stimulates activity in the shipbuilding and repair sector. For example, in September 2023, according to a report released by the United Nations Conference on Trade and Development, a Switzerland-based intergovernmental organization, maritime trade was projected to grow by 2.4% in 2023 and by more than 2% annually from 2024 to 2028. As a result, increasing global trade is fueling the growth of the ship building and repairing market.

Leading companies operating in the shipbuilding and repairing market are introducing new products, such as green container ships, to reach broader customer bases, boost sales, and increase revenue. Green container ships are vessels designed to lower environmental impact and reduce carbon emissions. For instance, in April 2023, Maersk A/S, a Denmark-based shipping company, introduced 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. To support its methanol-fueled fleet, Maersk has been securing suppliers to provide approximately 1 million metric tons of green methanol annually, a move expected to prevent around 2.3 million metric tons of CO₂ emissions per year compared with conventional-fuel ships.

In February 2025, Maersk, a Denmark-based shipping and logistics company, partnered with Cochin Shipyard Limited 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 Cochin Shipyard Limited’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 and repairing market report include Hyundai Heavy Industries, Samsung Heavy Industries Co., Ltd., Daewoo Shipbuilding & Marine Engineering Co Ltd, Fincantieri S.p.A., General Dynamics Corporation, Imabari Shipbuilding Co., Ltd., China Shipbuilding Industry Co., Ltd., CSCC Offshore & Marine Engineering (Group) Company Ltd, MITSUBISHI HEAVY INDUSTRIES, LTD., Sumitomo Heavy Industries, Ltd, China State Shipbuilding Corporation, Yangzijiang Shipbuilding (Holdings) Ltd., New Times Shipbuilding Co. Ltd., Hudong- Zhonghua Shipbuilding, Tsuneishi Holdings, Oshima Shipbuilding Company, Cochin Shipyard Limited, Hindustan Shipyard Limited, Garden Reach Shipbuilders and Engineers, Lloyd Werft Bremerhaven, Neptune Werft GmbH, Schiffswerft Hermann Barthel GmbH, Meyer Werft, STX, PIRIOU, SOCARENAM, CMN: Chantiers naval de Normandie, Naval Group, A&P Group Tyne Shipyard, Cammell Laird, Parkol Marine Engineering, Yarrow Shipbuilders, NAUTA, Remontowa, Seatech Engineering, CRIST S A, Marine Projects Ltd SP, PO SEVMASH, AO, OSK, Admiralteiskie Verfi, Severnaya Verf, Pella, NEVSKI SSZ, Vard Tulcea, Santierul Naval Damen Galati, Shipyard ATG Giurgiu, Huntington Ingalls Industries Inc., BAE Systems, Dammam Shipyard, Zamil Offshore, Damen Shipyards Group, Israel Shipyards Ltd., Gemak Group of Companies, Sefine Shipyard, Kuzey Star Shipyard, Desan Shipyard, Southern African Shipyards, Dormac Marine & Engineering, DCD Enerji Çevre ve Teknoloji A.Ş, Southern Engineering Co. Ltd, West Atlantic Shipyard, Nigerdock FZE.

Asia-Pacific was the largest region in the shipbuilding and repairing market in 2025. Western Europe was the second largest region in the shipbuilding and repairing market. The regions covered in the ship building and 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 building and repairing market report include China, India, Japan, Australia, Indonesia, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, Taiwan, New Zealand, UK, Germany, France, Italy, Spain, Austria, Belgium, Denmark, Finland, Ireland, Netherlands, Norway, Portugal, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.

The shipbuilding and repairing market include revenues earned by entities by construction of ships, their repair, 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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