Global Shipbuilding Industry
The year 2009 proved to be tough for shipbuilding industry as there was a decline in new shipbuilding orders affected by economic downturn; although industry is expected to overcome shortly. At present the global shipbuilding industry has been dominated by Asian countries (China, Korea and Japan).
In Dry bulk segment, the demand for two commodities – coal and iron ore will drive the dry bulk industry in the near future. Demand for dry bulk is showing a positive trend despite the economy slowdown. This sector is driven by construction activity and infrastructure projects. The dry bulk demand in near future could grow with changing trends in China.
The report titled “Global Shipbuilding Industry” focuses on shipyard output and offers an analysis of the global market and assesses the market by geography and also by segments. It analyzes the factors that are driving the growth of this industry. It also discusses the major market trends and challenges faced by the industry. The report also presents the competitive structure of the industry and profiles major players in the shipbuilding market. The largest shipbuilding companies in terms of capacity are Hyundai Heavy Industries, Daewoo Shipbuilding and Marine Engineering and Samsung Heavy Industries.
Further, we have predicted the future growth of the global shipbuilding and shipyard market by combining factors such as oil prices and demand, coal demand, GDP growth, employment rate and others.
Amid the economic downturn in 2009, annual worldwide orders for new ships tallied only ~million DWT , down from 96.2 million in 2008, which was the lowest in nearly two decades.
There was a continuous growth in container shipping demand till 2007 but from 2008 onwards it declined almost 50% affected by economic downfall, which has once again started improving from the first quarter of 2010.
Chinese demand for raw materials is expected to continue to drive growth in the bulk carrier shipping market, while growing global demand for oil is expected to do the same in the tanker shipping market.
China is a strong market for shipyard output and shipbuilding sector and is competing with developed countries. The growth of Chinese shipbuilding industry is expected to give a neck to neck competition to almost all major shipbuilding nations.
The economic crisis has left an impact over the German Shipbuilding industry with lowering demand for shipyards and shipbuilding industry due to decline in trade worldwide.
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