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Fior Markets launched a study titled “Ship Repair and Maintenance Services Market by Vessel Type (Oil And Chemical Tankers, Container Ships, Gas Carriers, Offshore Vessels, Passenger Ships And Ferries, Bulk Carriers), Application (General Services, Dockage, Hull Part, Engine Parts, Electric Works, Auxiliary Services),Region” and Global Forecast 2019-2026.

The global ship repair and maintenance services market is expected to grow from USD XX million in 2018 to USD XX million by 2026 at a CAGR of XX% during the forecast period from 2019-2026. Increase in the demand for new ships and activities, shortening of supply chains in ship repair and maintenance services, increased seaborne trade against the backdrop of recent economic boom, increase in the production of vessels are the factors to stimulate the market growth.

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Vessel type segment is divided into oil and chemical tankers, container ships, gas carriers, offshore vessels, passenger ships and ferries, and bulk carriers. The bulk carriers segment is anticipated to remain dominant in the global ship repair and maintenance services market. The increasing infrastructure requirement in various countries such as Singapore, Dubai and Bahrain to repair offshore support vessels will increased the ship repair and maintenance services market.

Application segment is categorized into general services, dockage, hull part, engine parts, electric works, and auxiliary services. The dockage and hull part are the key segments contributing to the growth of the global ship repair and maintenance services market.

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Regional Segmentation Analysis:

The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. Asia Pacificregion dominated theglobal ship repair and maintenance services marketwith thehighest market share in 2018.Increased seaborne trade against the backdrop of recent economic boom in China and other Asian countries, Tax incentives to shipyards provided by various government, and continuous growth in shipbuilding activities are some of the factors that led to the growth of ship repair and maintenance services market in Asia Pacific region.

Competitive Analysis:

The major players of market include are Hanjin Heavy Industries, Hyundai Mipo Dockyard Co., Ltd., China Shipbuilding Industry Corporation (CSIC), Damen Shipyards Group, Cochin Shipyard Limited, Swissco Holdings Limited, Egyptian Ship Repair & Building Company, Desan Shipyard, Sembcorp Marine Ltd. and United Shipbuilding Corporation.

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