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Booming Seaborne Trade Boosts Global Shipbuilding Market

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Published on : Apr 19, 2018

ALBANY, New York, April 19, 2018: The research report, titled “Global Shipbuilding Market Report: 2018 Edition”, makes serious value addition to ResearchMoz.us’ online repository. The report points out various factors that are likely to determine the trajectory of the overall market. It highlights the strengths, weaknesses, opportunities, and threats present in the global shipbuilding market. It studies the changing face of global commerce and its impact on the shipbuilding industry. The research report studies the historical details pertaining to the global market and compares them to the current market scenario to provide the readers the true scope of the market. Furthermore it also attempts to answer questions about the size of the market and its growth rate in the near future.

The global shipbuilding market is expected to witness a steady growth rate in the coming years as the nature of trade is undergoing a gradual change. Vendors in the shipbuilding industry are not only expected to see new orders but also orders for overhauling vessels. The growing demand for seaborne trade as economies across the world surge has significantly contributed to the rise of the overall market. The various types of commercial ships or vessels considered to be a part of the shipbuilding industry are bulkers, tankers, LNG carriers, containers, and LPG carriers.

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Stabilizing economies and emerging economies are both making a positive impact on the global shipbuilding market. The growing trend of eco-friendly ships and shipping services has also given rise a trend that is projected to bode well for the overall market in the near future. The report highlights that usage of LNG-fueled engines, uptake of technologically advanced container shipping, soaring consumption of steel, and growing number of upgrades to older vessels are expected to drive the global shipbuilding market. Growing demand for oil has also given the shipbuilding market a much-needed impetus.

From a geographic point of view, Southeast Asia is projected to lead the global market. This market trend is attributable to the strong presence of leading players in countries such as South Korea and China. Presently, South Korea is an integral country to the overall shipbuilding market. Vendors in these countries are responsible not just for building the vessel but also for designing and customizing it, depending on the order. The report suggests that Europe is likely to following suit as vendors in the region are undertaking orders.

The leading players operating in the global shipbuilding market are Samsung Heavy Industries, Hyundai Heavy Industries, and, Daewoo Shipbuilding and Marine Engineering. The research report provides a financial outlook of these companies, their plans for expansion for the coming years, and their business strategies. The study also provides a detailed understanding of the investments being ploughed in for research and development of advanced technologies for shipbuilding. The study also offers comments and recommendations by market experts to help the readers in making unbiased business decisions.

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