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Shipbuilding refers to the construction of large marine vessels including cargo ships, tankers, cruise liners, and naval ships, while offshore rig fabrication focuses on the assembly of oil platforms and energy infrastructure used in offshore drilling. Repair activities span both dry-docking and afloat repairs to extend operational lifespans and comply with maritime regulations.
In 2025, shipbuilding is increasingly focused on dual-fuel engines, LNG carriers, and modular rigs, with fabrication yards seeing increased activity due to recovering oil exploration and green energy investments.
How Big is the Shipbuilding and Offshore Rig Fabrication and Repair Industry in 2025?
In 2025, the global shipbuilding and offshore rig fabrication and repair industry is operating at full throttle, fueled by rising global trade, defense modernization, and renewed offshore energy investments.
Worldwide, shipyards are projected to deliver over 2,750 new vessels, spanning container ships, bulk carriers, oil tankers, LNG carriers, and cruise liners. Asia-Pacific leads this output, contributing more than 1,650 vessels, or approximately 60% of the global total. China, South Korea, and Japan dominate newbuild deliveries, driven by high-capacity orders from commercial fleet operators and energy companies.
In the offshore segment, around 65 new offshore rigs—including jack-ups, semi-submersibles, and floating production storage and offloading units (FPSOs)—are expected to be fabricated or commissioned. Additionally, over 7 FPSOs are currently under construction or conversion for deployment in Brazil, Nigeria, and the North Sea.
The global ship repair and retrofitting business is booming, with more than 13,000 vessel repair and maintenance projects expected to be executed in 2025. A significant share—approximately 35%—is linked to retrofits for IMO compliance, including scrubber installations, ballast water treatment systems, and LNG engine conversions. Shipyards in Turkey, Singapore, and UAE are among the busiest, handling hundreds of drydock slots annually.
Notably, the U.S. is set to deliver 230+ vessels, with naval and Jones Act-compliant ships dominating production. In Europe, the cruise ship sector rebounds with over 40 new builds led by Fincantieri and Meyer Werft.
The industry’s scale in 2025 is reinforced by digital shipbuilding, modular rig construction, and sustainability-driven retrofits — placing it as a strategic pillar of both global transportation and energy infrastructure.
USA Growing Shipbuilding and Offshore Rig Fabrication and Repair Market
- The U.S. will handle over 230 commercial and naval vessel constructions, driven by Jones Act fleet renewal and naval defense spending.
- Offshore rig repair yards in Texas and Louisiana expect a 13% increase in drydocking projects, with focus on Gulf of Mexico assets.
- VT Halter Marine, General Dynamics NASSCO, and Bollinger Shipyards are seeing contracts for naval replenishment ships and Arctic-capable rigs.
- U.S. yards are modernizing with robotic welding, 3D pipe bending, and digital twin modeling — over $600 million in tech upgrades underway.
Regional Market Share & Opportunities (2025)
| Region | Estimated Market Share (2025) | Key Highlights |
|---|---|---|
| Asia Pacific | 61.4% | Over 1,650 vessels delivered; LNG carriers dominate orders; China, South Korea, and Japan lead global output |
| Europe | 17.1% | Cruise and naval builds; 40+ vessels delivered; Strong retrofitting demand in Mediterranean and North Sea |
| North America | 9.3% | 230+ vessels expected; Jones Act and naval programs; Gulf of Mexico rig repairs increasing |
| Middle East & Africa | 4.8% | 18 offshore rig overhauls planned; Growing shipbuilding in Turkey and UAE |
| Latin America | 3.7% | 7 FPSOs under construction; New patrol vessels in Argentina, Chile |
Asia Pacific
- Market Share: Approx. 61.4% of global shipbuilding tonnage
- China leads with more than 45% of global ship deliveries, followed by South Korea and Japan.
- Over 1,650 commercial vessels expected to be delivered from Asia-based yards.
- LNG carrier orders from South Korea (Samsung, HHI, DSME) total over 90 new units.
- Offshore rig orders in China increased by 22 units, with demand from Southeast Asian oil blocks.
Europe
- Market Share: Approx. 17.1%
- Fincantieri, Meyer Werft, and Meyer Neptun focus on cruise ships and navy projects, delivering around 40 vessels in 2025.
- Offshore fabrication activity in Norway and Italy supported by North Sea and Mediterranean operations.
- Europe is investing in green ship design, with 15+ hybrid-electric ferry builds scheduled.
North America
- Market Share: Approx. 9.3%
- Over 230 vessels expected to be delivered across defense, commercial, and workboat categories.
- Offshore rig refurbishments expected to touch 400+ units, including upgrades to jack-ups in Gulf of Mexico.
- U.S. and Canada launching dual-fuel LNG ferries and tugs, with focus on emission compliance.
Middle East & Africa
- Market Share: Approx. 4.8%
- Rig refurbishment contracts driven by Saudi Aramco and ADNOC projects; expected 18 major overhauls in 2025.
- Shipbuilding in Turkey and UAE is emerging — over 45 vessels, mainly dry cargo and tugboats, under construction.
- Africa showing demand for modular oil rigs to support offshore Mozambique and Angola zones.
Latin America
- Market Share: Approx. 3.7%
- Petrobras investing in rig repair hubs in Brazil; 7 FPSOs under conversion or build.
- Smaller shipyards in Colombia and Mexico targeting fishing vessels and riverine transport.
- Argentina and Chile investing in navy and coast guard vessel renewals — 12 new patrol ships expected.
Global Growth Insights unveils the top List Global Shipbuilding and Offshore Rig Fabrication and Repair Companies:
| Company | Headquarters | Revenue (Last Year) | Past CAGR | Notable Activities |
|---|---|---|---|---|
| Hyundai Heavy Industries (HHI) | South Korea | ~$21B | ~4.2% | Delivered 30+ LNG carriers |
| Daewoo Shipbuilding & Marine Engineering (DSME) | South Korea | ~$9B | ~3.9% | Offshore platform builder for Aramco |
| Fincantieri | Italy | ~$8.3B | ~2.7% | Leading cruise and defense shipbuilder |
| Samsung Heavy Industries | South Korea | ~$7.5B | ~3.5% | Contracts for Arctic LNG carriers |
| China Shipbuilding Industry Corporation (CSIC) | China | ~$31B | ~4.6% | Leading China's naval and bulk vessel output |
| Sembcorp Marine | Singapore | ~$3.4B | ~2.9% | Fabricating FPSOs for Brazil & Nigeria |
| Imabari Shipbuilding | Japan | ~$2.6B | ~2.3% | Focus on eco-efficient container ships |
| Japan Marine United | Japan | ~$2.1B | ~2.1% | Defense and research vessel expertise |
| China State Shipbuilding Corporation (CSSC) | China | ~$39B | ~4.9% | Over 500 vessels/year output |
| Yangzijiang Shipbuilding | China | ~$4.2B | ~3.8% | Bulk carrier and LNG-focused builds |
| Keppel Offshore & Marine | Singapore | ~$2.9B | ~3.2% | Converting multiple FPSOs in 2025 |
| Meyer Neptun | Germany | ~$1.7B | ~2.4% | Hybrid and electric ferries in EU market |
| New Times Shipbuilding | China | ~$1.5B | ~2.2% | Delivering Panamax and Aframax tankers |
| COSCO Shipping Heavy Industry | China | ~$6.7B | ~3.6% | Major retrofitting and naval work |
| Oshima Shipbuilding | Japan | ~$1.1B | ~1.9% | Specialized in open-hatch cargo vessels |
| Hanjin Heavy Industries & Construction | South Korea | ~$2.2B | ~2.5% | Offshore fabrication revival underway |
Conclusion: The Future of Global Shipbuilding and Offshore Fabrication
The shipbuilding and offshore rig fabrication industry in 2025 is entering a transformative phase. Geopolitical realignments, energy market rebound, and carbon-neutral shipping directives are reshaping shipyard strategies worldwide. Asian giants like HHI, DSME, and CSSC dominate in volume, while European and U.S. yards pivot toward specialized, high-tech vessels.
Opportunities lie in:
- Dual-fuel ship construction
- Retrofit demand for compliance with IMO 2030
- Floating LNG terminals and FPSO conversions
- Military and coast guard vessel modernization