Global shipbuilding Industry size and India’s position

All that you wanted to know about Global ship building industry and india’s current postion and future potential is there in this article very nicely compiled. A few points worth noting

(1) India’s position from its current rank of 22nd in global shipbuilding to the top 10 by 2030, and the top five by 2047, as part of India’s Maritime India Vision 2030.

(2) the global shipbuilding market size grows from $207.15 billion in 2023 to $220.52 billion in 2024 as per estimates.

(3) Currently, India holds only 0.06 per cent of the global shipbuilding market, a stark contrast to the dominance of China, South Korea, and Japan, which collectively control 85 per cent of the industry

(4) In 2022, ship building size was valued at $90 million and is projected to reach $8,120 million by 2033, with an astounding CAGR of 60 per cent, according to Finextra Research. This growth is attributed to factors like government support, strategic location, labour cost advantages, and a focus on niche segments such as offshore support vessels and ferries.

(5) Among top 15 ship building companies in the world , MDL and CSL occupies 10 th and 12th position…

(6) India’s MDL, CSL , Garden reach till date have focussed mainly on defence orders from Indian Navy. But the future potential looks quite good if they start building capacity and catering to the world shipping industry in a big way.