World Shipbuilding

Shipbuilding in Russia

Main article: Civil shipbuilding (Russian market)

History

2025: Global Fishing Vessel Market Size Reaches $1.66 Billion for the Year

In 2025, the global market for fishing vessels amounted to $1.66 billion. This sector is showing steady positive dynamics, as stated in the review of The Business Research Company, published in mid-February 2026.

One of the key drivers of the market is the growing consumption of seafood. According to the Food and Agriculture Organization of the United Nations (FAO), in the 1960s, fish consumption per capita in the world was less than 10 kg. The figure reached 20.4kg per person in 2016, and is expected to rise to 21.2kg by 2030-2032. Against this background, catch volumes are growing, which, in turn, gives rise to the need for additional fishing vessels.

Technological advances and a shift towards sustainable fishing practices are having a positive impact on the industry. Large companies are developing innovative projects for the construction of multi-purpose fishing vessels: these are universal fishing vessels designed for the extraction of aquatic biological resources in various ways (trawl, seine, tier). They can be equipped with equipment for freezing or processing the catch. Among the leading players in the market are:

• HD Hyundai Heavy Industries;
• Mitsubishi Heavy Industries;
• Rolls-Royce;
• Fincantieri SpA;
• Damen Shipyards Group;
• Lerøy Havfisk AS;
• Vard Group;
• Austal Limited;
• Sanford Limited;
• Talley's Limited;
• Eastern Shipbuilding Group;
• Heinen & Hopman Engineering BV;
• Zamakona Yards;
• Nauta Shiprepair Yard;
• Master Boat Builders;
• Karstensens Skibsvaerft A/S;
• Freire Shipyard;
• MacGregor.

In 2026, the volume of the market in question is expected to reach $1.79 billion. Analysts at The Business Research Company predict that in the future, the CAGR will be 8%. Thus, by 2030, costs could increase to $2.43 billion.^[1]

2024:10 Leading Ship Building Countries for the Year

According to the statistical database of the UN Conference on Trade and Development (UNCTADstat), the total production of world shipyards in 2024 amounted to 71.69 million tons of gross capacity. Almost all of this volume - 95% - was provided by three East Asian countries: China, South Korea and Japan.

China has maintained its status as the undisputed global leader. The share of Chinese shipbuilding enterprises in the global tonnage reached 54.6%, which is equivalent to 39.1 million tons. The volume produced by China more than twice the total indicators of its closest regional competitors.

South Korea has gained a foothold in the second position, putting into operation ships with a total capacity of 20.1 million tons (28%). The country maintains competitiveness by focusing on the construction of high-tech vessels such as liquefied natural gas tankers.

Japan took third place with a result of 9 million tons (12.6%), continuing to play a key role in the construction of specialized high-quality vessels.

In addition to the mentioned leaders, the top ten ship manufacturers in 2024 included: Vietnam (721 thousand tons), the Philippines (668 thousand tons), Italy (456 thousand tons), France ( 289 thousand tons), Germany ( 190 thousand tons), Finland (162 thousand tons) and Singapore ( 160 thousand tons).

Russia in this rating took 13th place, releasing vessels with a gross capacity of 98 thousand tons per year. Indonesia is in 12th place (99 thousand tons), the Netherlands is in 11th place (143 thousand tons).^[2]

Notes