The ship and boat building and repairing industry includes establishments operating shipyards and boatyards. Their products include cargo ships, passenger ships, yachts, oil and gas drilling and production platforms, barges, inflatable plastic boats and rowing boats.
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The global ship and boat building and repairing market is valued at $224 Billion In 2017. This can be attributed to global economy growth, shift to eco-friendly ships, increased exports orders and container shipping.
The ship and boat building and repairing market in The Business Research Company’s report is segmented into two segments, namely ship building and repair and boat building and repair. While the first segment accounts for three-fourth of the market share, the remaining share is attributed to the boat building and repair segment.
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China was the largest country in the ship and boat building and repairing market in 2017, accounting for around one-third of the market share. This was mainly due to a large number of shipyards in the country and low short-term interest rates in the country which have created good financing opportunities and private foreign direct investments for the shipping industry. China was followed by the USA and Japan as the next largest countries in the market.
The top five competitors in the market made up above 21% of the total market share in 2017. Daewoo Shipbuilding & Marine Engineering Co Ltd was the largest competitor in the ship and boat building and repairing market, followed by Hyundai Heavy Industries and Mitsubishi Heavy Industries. Daewoo Shipbuilding & Marine Engineering was established in 2000 as a result of spin off from Daewoo Heavy Industry Co. Ltd. and is headquartered in Geoje, South Korea.
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