Top 10 Largest Shipbuilding Companies in the World 2020 - BizVibe
largest shipbuilding companies

The global shipbuilding industry has enjoyed a strong and steady growth over the recent decades, while the world’s top 10 largest shipbuilding companies remain as industry leaders and continue to dominate the global market in 2020. The global shipbuilding industry consists of design and manufacturing large commercial vessels for cargo transportation, oil container ships, passenger ships and military ships. Therefore, shipbuilding industry plays a crucial part in the regional and global economic development by facilitating passenger transportation and goods logistics. With the rising international trading activities and the increasing travel and leisure demand around the world, the global shipbuilding industry is expected to grow further, and the top 10 largest shipbuilding companies will be also benefited with growing revenues in the near future.

This industry fact sheet is to assist industry professionals, investors, and people in general that are interested in gaining insights into the global shipbuilding industry including:

  • What is the global shipbuilding market size?
  • What are the driving factors for the global shipbuilding industry growth?
  • Who is the largest ship builder in the world?
  • Who are the top 10 largest shipbuilding companies?
  • What are the shipbuilding industry trends for future?

Bizvibe’s smart B2B marketplace solution helps buyers and suppliers in the global shipbuilding industry to find and connect with each other, shorten sourcing and purchasing cycles, and maximise profit growth. Join today to see how BizVibe can help your business grow!

Global Shipbuilding Industry Overview

A recent market report shows that the global shipbuilding new orders totalled 42.74 million GT in 2019, while the global shipbuilding market size was valued around US$120.6 billion in 2019, and it is expected to exceed $175 billion by 2025, representing a strong CAGR of over 5.5% during the forecast period. Some of the major driving factors for the growth of the global shipbuilding industry include the increasing international seaborne trading, rapid industrialization and globalization, as well as advanced technology to offer energy-saving ships and shipping services.

Geographically, Asia Pacific is currently the largest shipbuilding market, account for over 82% of the global market share. China, South Korea, and Japan are the some of the largest shipbuilding countries in the world, mainly attributed to the increasing developments in the regional maritime transportation and naval shipbuilding sector will significantly influence shipbuilding market growth in this region.

In 2019, the shipbuilding industry in China accounted for over 37.2% of the global shipbuilding market by the amount of metric tons deadweight completed, making it the largest shipbuilder in the world. When it comes to the new shipbuilding orders, 44.5% of the new global orders for ship tonnage were placed in China in 2019. Its top position in the global shipbuilding industry is expected to be maintained in the new future.

Top 10 Largest Shipbuilding Companies in the World 2020

1. CSSC – China

The China State Shipbuilding Corporation (CSSC) is the world’s largest shipbuilding corporation with headquarters in Beijing, China. It was formed by the merge of the two state-owned shipbuilding companies, CSIC and CSSC in November 2019. The new group now has 147 research institutes, business units and listed companies with total assets $112bn USD and 310,000 employees. The CSSC has three listed companies: China State Shipbuilding Co., Ltd, CSSC Offshore& Marine Engineering (Group) Co., Ltd and CSSC Science &Technology Co., Ltd.

2. Hyundai Heavy Industries – South Korea

Hyundai Heavy Industries is another of the top 10 largest shipbuilding companies in the world, based in South Korea. Hyundai Heavy Industries’ shipbuilding division received a $13.3 billion worth of orders in 2018, and was comprised of a total of 153 vessels, including 56 oil tankers, 50 containerships, 40 gas carriers, including 25 LNG carriers and 15 LPG carriers, followed by 4 bulkers, 2 frigates and one car ferry. Hyundai Heavy Industries accounts for about 6.5% of the global shipbuilding output every year.

3. Daewoo Shipbuilding & Marine Engineering – South Korea

Daewoo Shipbuilding & Marine Equipment (DSME) is another South Korean ship builder ranked among the world’s top 10 largest shipbuilding companies. It is the world’s leading shipbuilding and offshore contractor who is specialized in building various vessels, offshore platforms, drilling rigs, FPSO/FPUs, submarines, and destroyers. DSME also owns a shipyard which spans an area of 4.9 million square meters with a million-ton capacity and is optimized for building high-tech motor vessels using cutting-edge equipment, including a 900-ton goliath crane.

4. Samsung Heavy Industries – South Korea

Samsung Heavy Industries is one of the largest shipbuilding companies in the world and one of the “Big Three” shipbuilders in South Korea, including Hyundai and Daewoo. Its main products include high added-value and special purpose vessels such as LNG carriers, off-shore related vessels, oil drilling ships, FPSO/FSO’s, ultra Large container ships and Arctic shuttle tankers. Since its inception in 1974, SHI has secured orders for 1,249 ships and offshore facilities and successfully delivered 1,135 units by the end of 2019.

5. STX Offshore & Shipbuilding – South Korea

STX Offshore & Shipbuilding Co Ltd is one of the world’s leading manufacturers of LNG/LPG carriers, container ships, car and truck carriers, oil tankers, large ore carries and naval ships. The company is also engaged in constructing various offshore facilities and support vessels, as well as offering maritime engineering, procurement, construction and installation services for virous offshore and shipbuilding facilities.

6. Fincantieri SpA – Italy

Fincantieri S.p.A. is an Italian shipbuilding company based in Trieste, Italy. It is the No.1 shipbuilder in Europe and one of the largest shipbuilding companies in the world. Fincantieri has over 10,000 employees and operating through eight shipyards, two design centres, one research centre and two production sites for mechanical components.

7. Sembcorp Marine Ltd – Singapore

Sembcorp Marine Limited is a leading engineering and shipbuilding company based in Singapore Sembcorp Marine’s main business segments include Rigs & Floaters, Repairs & Upgrades, Offshore Platforms and Shipbuilding. Its key products include Gas value chain vessels (CGL, LNG and LPG), Ferry, Ropax and cruise vessels, Renewable energy support vessels, Offshore support vessels (heavy-lift, pipe-lay and accommodation), Naval support and security vessels, Research and scientific survey vessels

8. Sumitomo Heavy Industries – Japan

Sumitomo Heavy Industries is a world’s leading industrial machinery companies based in Japan. Its core business segments include design and manufacturing ships, machinery components, industrial machinery, construction machinery, environmental facilities and others. Its shipbuilding division mainly produces oil tankers.

9. Mitsubishi Heavy Industries – Japan

Mitsubishi Heavy Industries, Ltd is one of the main subsidiaries of the Japanese multinational engineering and electrical equipment company Mitsubishi Group. MHI has shipbuilding facilities in Nagasaki, Kobe and Shimonoseki, Japan, and operates through its main shipbuilding division Nagasaki Shipyard & Machinery Works, the company is best known for producing specialized commercial vessels, including LNG carriers, and passenger cruise ships, as well as military ships

10. Tsuneishi Shipbuilding – Japan

Tsuneishi Shipbuilding is a leading shipbuilding and ship repairing company based in Japan. The company is mainly engaged both in the shipbuilding and repairing business. It develops and manufactures a wide range of ships including bulk carriers, container carriers, tankers, car carriers and wooden chips. It also uses the technology and experience it has built up to remodel and repair other ships.

Global Shipbuilding Industry Trends for Future

One of the latest global shipbuilding industry trends that has been witnessed is the growing adoption of 3D printing technology in the ship manufacturing process to improve efficiencies and quality of the products. 3D printing technology allows shipbuilders to adopt computer-controlled process in which materials are layered consecutively to form a wide-ranging and voluminous number of ship components. This technology has effectively increased the speed and cost-effectiveness of the shipbuilding process. Thus, the growing adoption of 3D printing technology is projected to further fuel the growth of the global shipbuilding industry in the near future.

 

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