The Latin America, Middle East and Africa Shipbuilding Market would witness market growth of 5.7% CAGR during the forecast period (2021-2027).
A shipbuilding berth refers to the dock structure which has a flooring level less than the sea level. In various shipyards, flooring levels of the berth are more than the sea level, but ships are designed by specialized launching techniques and thus are waterborne. The construction of some ships which carry large tankers and bulkers is done in floating conditions. This is done when the capacity of the building is less than the size of the ship or when both the halves of ships are constructed at different berths and floated.
There are many other commonly used items that are brought to the consumption area with the help of ships and other floating vessels. Products such as cement, aluminum foil, vegetable oils, cables, paints, and cosmetics are also shipped through these ships. Every year, bulk carrier ships transport around 8 billion-ton miles of commodities.
Additionally, along with the crude oil and natural gas, Dubai also largely exports foodstuffs, copper or aluminum which is mainly exported to Thailand, India, South Korea, Iran and Japan. These goods are majorly transported by means of maritime transport and thus result in growth of the shipbuilding market.
The Brazil market dominated the LAMEA Shipbuilding Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $3.5 billion by 2027. The Argentina market would exhibit a CAGR of 6.2% during (2021 - 2027). Additionally, The UAE market is anticipated to grow a CAGR of 5.4% during (2021 - 2027).
Based on Type, the market is segmented into Bulk Carriers, Oil Tankers, Container Ships, General Cargo Ships, Passenger Ships and Others. Based on End Use, the market is segmented into Transport and Military. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Shipbuilding Market is Predict to reach $176.1 Billion by 2027, at a CAGR of 3.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Huntington Ingalls Industries, Inc., Samsung Heavy Industries Co., Ltd. (Samsung Group), Sumitomo Heavy Industries, Ltd., BAE Systems PLC, Damen Shipyards Group, China State Shipbuilding Corporation, Fincantieri S.p.A (CDP Industria S.p.A.), Korea Shipbuilding & Offshore Engineering Co., Ltd., General Dynamics Corporation, and Mitsubishi Heavy Industries Ltd.
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