Industry Statistics and Trends
Shipbuilding in Europe key trends
Fierce international competition lowers industry revenue.
The industry has suffered from a lack of protectionist trade policies and state-supported investment, with China and South Korea stealing global market share away from European shipbuilders.
European nations shift to specialising in ship repair.
Driven by fierce global competition, European governments are proactively supporting the development of shipbuilding and ship repair yards by offering tax incentives, access to finance and other assistance to encourage investment.
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Shipbuilding in Europe
Industry Revenue
Total value and annual change from 2011-2029. Includes 5-year outlook.
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Shipbuilding in Europe market size (2019-2024)
Industry revenue has declined at a CAGR of 3.1 % over the past five years, to reach an estimated €53.8bn in 2024.
Trends and Insights
COVID-19 weighs on European ship production
- According to Sea Europe, European yards were severely hit by COVID-19, on both the demand and production sides.
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Shipbuilding in Europe outlook (2024-2029)
Market size is projected to grow over the next five years.
The future looks bleak as global competition threatens revenue prospects
- Approximately 75% of European trade occurs via cargo ships and Asia has represented a growing share of cargo shipbuilding. However, the bulk of European shipbuilding revenue comes from the manufacturers of passenger ships, catering for millions of passengers using the Baltic, Channel and Mediterranean ferries every year.
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Revenue
€53.8bn
Employees
327k
Wages
€X.Xbn
European Leaders & Laggards
* CAGR values are for the years 2019-2024.
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Biggest companies in the Shipbuilding in Europe
| Company | Market Share (%)
2024 | Revenue (€m)
2024 | Profit (€m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Fincantieri SpA | 8,185.9 | 163.7 | 2.0 | |
Damen Shipyards Group NV | 2,626.5 | 85.6 | 3.3 | |
BAE Systems plc | 28,017.7 | 3,142.1 | 11.2 |
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Shipbuilding in Europe
Products & Services Segmentation
Industry revenue broken down by key product and services lines.
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Top Questions Answered in this Report
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What is the market size of the Shipbuilding industry in Europe in 2024?
The market size of the Shipbuilding industry in Europe is €53.8bn in 2024.
How many businesses are there in the Shipbuilding in Europe industry in 2024?
There are 5,097 businesses in the Shipbuilding industry in Europe, which has grown at a CAGR of 0.2 % between 2019 and 2024.
Has the Shipbuilding industry in Europe grown or declined over the past 5 years?
The market size of the Shipbuilding industry in Europe has been declining at a CAGR of 3.1 % between 2019 and 2024.
What is the forecast growth of the Shipbuilding industry in Europe over the next 5 years?
Over the next five years, the Shipbuilding industry in Europe is expected to grow.
What does the Shipbuilding in Europe include?
Passenger ship manufacturing and Military and other non-cargo carrying ship manufacturing are part of the Shipbuilding industry.
Which countries have the most businesses in the Shipbuilding industry in Europe?
The European country with the most businesses in the Shipbuilding industry is Poland.
How competitive is the Shipbuilding industry in Europe?
The level of competition is moderate and increasing in the Shipbuilding industry in Europe.
Related Industries
This industry is covered in 37 countries
- Shipbuilding in Greece
- Shipbuilding in Russia
- Shipbuilding in Slovakia
- Shipbuilding in Italy
- Shipbuilding in Denmark
- Shipbuilding in Turkey
- Shipbuilding in Latvia
- Shipbuilding in Bosnia & Herzegovina
- Shipbuilding in Austria
- Shipbuilding in Romania
- Shipbuilding in Norway
- Shipbuilding in Sweden
- Shipbuilding in Poland
- Shipbuilding in Ireland
- Shipbuilding in Estonia
- Shipbuilding in Europe
- Shipbuilding in Spain
- Shipbuilding in France
- Shipbuilding in Lithuania
- Shipbuilding in the Netherlands
- Shipbuilding in Switzerland
- Shipbuilding in Slovenia
- Shipbuilding in Bulgaria
- Shipbuilding in Iceland
- Shipbuilding in Portugal
- Shipbuilding in Czechia
- Shipbuilding in Serbia
- Shipbuilding in Belgium
- Shipbuilding in Hungary
- Shipbuilding in Finland
- Shipbuilding in Croatia
Table of Contents
About this industry
Industry definition
Companies in this industry build ships and boats and construct floating structures. The industry also includes ship rebuilding and overhauls. Industry participants don’t manufacture parts of vessels, other than major hull assemblies.
Related Terms
GeopoliticalRefittingOffshore VesselDredgingWhat's included in this industry?
Passenger ship manufacturingMilitary and other non-cargo carrying ship manufacturingRefitting and reconstructing vesselsCargo ship manufacturingCompanies
Fincantieri SpADamen Shipyards Group NVBAE Systems plcIndustry Code
3011 - Building of ships and floating structures in Europe
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Performance
Key Takeaways
COVID-19 weighs on European ship production
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Revenue Highlights
Trends
- Revenue
- 2024 Revenue Growth
- Revenue Volatility
Employment Highlights
Trends
- Employees
- Employees per Business
- Revenue per Employee
Business Highlights
Trends
- Businesses
- Employees per Business
- Revenue per Business
Profit Highlights
Trends
- Total Profit
- Profit Margin
- Profit per Business
Current Performance
Charts
- Revenue in the Shipbuilding in Europe industry (2011 -2029)
- Employees in the Shipbuilding in Europe industry (2011 -2029)
- Business in the Shipbuilding in Europe industry (2011 -2029)
- Profit in the Shipbuilding in Europe industry (2011 -2029)
Analysis
What's driving current industry performance in the Shipbuilding in Europe industry?
Outlook
Analysis
What's driving the Shipbuilding in Europe industry outlook?
Volatility
Analysis
What influences volatility in the Shipbuilding in Europe industry?
Charts
- Industry Volatility vs. Revenue Growth Matrix
Life Cycle
Analysis
What determines the industry life cycle stage in the Shipbuilding in Europe industry?
Charts
- Industry Life Cycle Matrix
Products and Markets
Highlights
Trends
- Largest Market
- Product Innovation
Key Takeaways
Europe specialises in passenger ship manufacturing. European shipbuilding has decoupled itself from the global shipbuilding market by successfully focusing on the healthier high-tech niche segments like cruise ships, ferries and other specialised non-cargo carrying vessels.
Products and Services
Charts
- Products and Services Segmentation
Analysis
How are the Shipbuilding in Europe industry's products and services performing?
Analysis
What are innovations in the Shipbuilding in Europe industry's products and services?
Major Markets
Charts
- Major Market Segmentation
Analysis
What influences demand in the Shipbuilding in Europe industry?
International Trade
Highlights
- Largest Importer
- Smallest Importer
- Total Imports into Europe
- Largest Exporter
- Smallest Exporter
- Total Exports into Europe
Heat maps
- Industry Concentration of Imports by Country
- Industry Concentration of Exports by Country
Data Tables
Value and annual change (%) included
- Number of Imports and Exports by European Country (2024)
Geographic Breakdown
Business Locations
Heat maps
- Share of Total Industry Revenue by Region (2024)
- Share of Total Industry Enterprises by Region (2024)
- Share of Total Industry Employment by Region (2024)
- Share of Total Industry Wages by Region (2024)
Industry Geographic Breakdown
Data Tables
Values and annual change provided for 37 European countries:
- Revenue (2024)
- IVA (2024)
- Enterprises (2024)
- Employment (2024)
- Exports (2024)
- Imports (2024)
Competitive Forces
Highlights
Trends
- Concentration
- Competition
- Barriers to Entry
- Substitutes
- Buyer Power
- Supplier Power
Key Takeaways
Intense import competition damages shipbuilders’ market share. Imports have taken up an increasing share of domestic demand, driven by the competitive advantages held by shipbuilders in China and South Korea, restricting growth prospects for European companies.
Supply Chain
Charts
Buyer and supply industries
Companies
Market Share
Charts
- Industry Market Share by Company (2019-2024)
Companies
Data Tables
Top 10 companies by market share:
- Market share (2024)
- Revenue (2024)
- Profit (2024)
- Profit Margin (2024)
Data Tables
- Countries of operation for Fincantieri SpA
- Countries of operation for Damen Shipyards Group NV
- Countries of operation for BAE Systems plc
- Countries of operation for Chantiers de l'Atlantique SA
- Countries of operation for Meyer Turku Oy
- Countries of operation for Navantia SA
- Countries of operation for Babcock International Group plc
- Countries of operation for Thyssenkrupp Marine Systems GmbH
- Countries of operation for Naval Group SA
- Countries of operation for Royal IHC
External Environment
Highlights
Trends
- Regulation & Policy
- Assistance
Key Takeaways
Shipyards must abide by health and safety regulations and adhere to global standards. European shipbuilders have to follow the International Convention for the Prevention of Pollution from Ships (MARPOL) and rules outlined by the Convention on the International Maritime Organisation.
External Drivers
Analysis
What demographic and macroeconomic factors impact the Shipbuilding in Europe industry?
Financial Benchmarks
Highlights
Trends
- Profit Margin
- Average Wage
- Largest Cost
Key Takeaways
A hike in the world price of steel damages profitability. As China has the lion’s share of steel production, global steel shortages have hurt European shipyards more than Asian shipyards, inflating purchase costs while reducing their international competitiveness.
Cost Structure
Charts
- Share of Economy vs. Investment Matrix
-
Industry Cost Structure Benchmarks:
- Marketing
- Depreciation
- Profit
- Purchases
- Wages
- Rent
- Utilities
- Other
Analysis
What trends impact cost in the Shipbuilding in Europe industry?
Key Ratios
Data tables
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
- Revenue per Employee (2014-2029)
- Wages/Revenue (2014-2029)
- Employees per Establishment (2014-2029)
- Average Wage (2014-2029)
Country Benchmarks
European Leaders & Laggards
Data Tables
Top and boottom five countries listed for each:
- Revenue Growth (2024)
- Business Growth (2024)
- Job Growth (2024)
European Country Performance
Data Tables
Rankings available for 37 countries. Statistics ranked include:
- IVA/Revenue (2024)
- Imports/Demand (2024)
- Exports/Revenue (2024)
- Revenue per Employee (2024)
- Wages/Revenue (2024)
- Employees per Establishment (2024)
- Average Wage (2024)
Structural Comparison
Data Tables
Trends in 37 countries benchmarked against trends in Europe
- Concentration
- Competition
- Barriers to Entry
- Buyer Power
- Supplier Power
- Volatility
- Capital Intensity
- Innovation
- Life Cycle
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
Where does IBISWorld source its data?
IBISWorld is a world-leading provider of business information, with reports on 5,000+ industries in Australia, New Zealand, North America, Europe and China. Our expert industry analysts start with official, verified and publicly available sources of data to build an accurate picture of each industry.
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and IBISWorld's proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
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