Ship Hull Inspection Services Global Market Report 2024

The ship hull inspection services market size has grown steadily in recent years. It will grow from $12.59 billion in 2023 to $13.02 billion in 2024 at a compound annual growth rate (CAGR) of 3.4%. The increase in the historical period can be attributed to entities such as classification societies, shipping companies, environmental organizations, government regulatory bodies, investors, and financial institutions.

The ship hull inspection services market size is expected to see steady growth in the next few years. It will grow to $14.35 billion in 2028 at a compound annual growth rate (CAGR) of 2.5%. The anticipated growth in the forecast period can be attributed to factors such as heightened environmental concerns, an increase in shipping activities, the rise of unmanned systems, and the utilization of data analytics for predictive maintenance. Key trends expected in the forecast period include an increased adoption of remote inspection technologies, the integration of artificial intelligence (AI) and machine learning (ML), the emergence of digital twins, and the adoption of augmented reality (AR) and virtual reality (VR).

The anticipated increase in international trade is set to drive the growth of the ship hull inspection services market. International trade involves the cross-border exchange of goods, services, and capital, facilitating transactions between individuals, businesses, or governments from different countries. This trend is on the rise due to lower trade barriers, increased participation in global value chains, advancements in transportation, and the expansion of markets. Ship hull inspection services play a crucial role in international trade by ensuring safety, regulatory compliance, addressing environmental concerns, managing risks, and supporting the growth of global commerce. For example, reports from the UK-based Office for National Statistics in February 2023 revealed a 32.3% increase in the value of total goods imports, reaching $211.18 billion (£155.5 billion), in 2022 compared to 2021. Total goods exports also experienced a 2.9% increase, reaching $12.376 billion (£9.1 billion) in 2022 compared to the previous year. Consequently, the expected surge in international trade is anticipated to drive the growth of the ship hull inspection services market.

Key players in the ship hull inspection services market are actively investing in innovative solutions, such as the mobile inspection app, to improve the efficiency of safety inspections in the maritime sector. This digital tool is designed to streamline and enhance various inspection processes within maritime industries, including safety audits, facility management, property inspections, and more. In May 2021, DNV Global, a Norway-based international accredited registrar and classification society, introduced the DNV Safety Inspections mobile app. This app aims to digitalize and streamline onboard safety inspections in the maritime sector, offering features such as improved workflow, recording capabilities, and follow-up processes. The app is designed to enhance safety compliance, streamline workflows, improve data quality, and support customers in meeting safety Key Performance Indicators (KPIs) in the maritime industry. Additionally, it provides benefits such as real-time insights, offline capabilities, fleet oversight, and tracking safety performance.

In September 2021, Subsea Global Solutions, a Singapore-based commercial diving company operating in the maritime industry, acquired SRN Group for an undisclosed amount. This strategic acquisition is intended to fortify Subsea Global Solutions' market position, broaden its service offerings, and drive future growth in the global underwater services market. SRN Group, a Belgium-based provider of underwater hull cleaning services for the shipping industry, aligns with Subsea Global Solutions' goal of expanding its capabilities in the maritime sector.

Major companies operating in the ship hull inspection services market are Bureau Veritas Marine & Offshore, DNV GL, TRC Companies Inc., Lloyd's Register Group, American Bureau of Shipping (ABS), RINA Group, Carisbrooke Shipping Limited, Korean Register, Applied Technical Services, Overseas Merchandise Inspection Co Ltd, Blueye Robotics, Royal Marine Management Pte Ltd, IMF Technical Services Ltd, Inuktun Services Ltd, Marine Inspection Services Ltd, Nippon Kaiji Kyokai, SolidTech, Ultramag Inspection Services, AIM Control Group, Commercial Diving Services Pty Ltd, C-Leanship A/S, AIM Control Inspection Group of Companies, Hempel Services, TechKnowServ Corporation, Norwegian Marine & Cargo Survey, TechKnowServ Corp., TECHNOS MIHARA Co Ltd.

North America was the largest region in the ship hull inspection services market in 2023. The regions covered in the ship hull inspection services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the ship hull inspection services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Ship hull inspection services involve the procedures and processes dedicated to examining the outer structure or shell of a ship. These services are crucial for ensuring the safety, efficiency, and compliance of maritime operations, as well as safeguarding the marine environment and promoting the longevity of maritime assets.

The primary types of ship hull inspection services include assessments of general corrosion, pitting and grooving, coating conditions, deformation and fractures, cleanliness, among others. Terms such as general corrosion, pitting and grooving, and coating conditions are commonly used to characterize material deterioration, particularly in metals. Various types of vessels fall under these inspection services, such as oil and chemical tankers, bulk carriers, general cargo ships, container ships, gas carriers, offshore vessels, passenger ships and ferries, mega yachts, and more. These services cater to diverse applications such as cruise ships, commercial vessels, container ships, naval ships or military vessels, offshore oil and gas ships, among others. End-users include ship owners, ship manufacturers, and naval vessels.

The ship hull inspection services market research report is one of a series of new reports that provides ship hull inspection services market statistics, including ship hull inspection services industry global market size, regional shares, competitors with a ship hull inspection services market share, detailed ship hull inspection services market segments, market trends and opportunities, and any further data you may need to thrive in the ship hull inspection services industry. This ship hull inspection services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The ship hull inspection services market includes revenues earned by entities by providing services such as visual inspection, underwater drone inspection, thickness measurement, sample collection and analysis, documentation, and reporting. 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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