Overview and Scope
Ship hull inspection services refer to the procedures and processes involved in examining the outer structure or shell of a ship. These services play a vital role in maintaining the safety, efficiency, and compliance of maritime operations while also protecting the marine environment and supporting the longevity of maritime assets.
Sizing and Forecast
The ship hull inspection services market size has grown steadily in recent years. It will grow from $12.59 billion in 2023 to $13.02 billion in 2024 at a compound annual growth rate (CAGR) of 3.4%. The growth in the historic period can be attributed to classification societies, shipping companies, environmental organizations, government regulatory bodies, investors and financial institutions.
The ship hull inspection services market size is expected to see steady growth in the next few years. It will grow to $14.35 billion in 2028 at a compound annual growth rate (CAGR) of 2.5%. The growth in the forecast period can be attributed to environmental concerns, increase in shipping activities, rise of unmanned systems, data analytics and predictive maintenance. Major trends in the forecast period include increased adoption of remote inspection technologies, integration of artificial intelligence (AI) and machine learning (ML), rise of digital twins, adoption of augmented reality (AR) and virtual reality (VR).
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The ship hull inspection services market covered in this report is segmented –
1) By Inspection Type: General Corrosion Or Pitting and Grooving Or Coating Condition, Deformation And Fractures, Cleanliness, Other Inspection Types
2) By Vessel type: Oil And Chemical Tankers, Bulk Carriers, General Cargo, Container Ships, Gas Carriers, Offshore Vessels, Passenger Ships and Ferries, Mega Yachts And Other Vessels
3) By Application: Cruise Ships, Commercial Vessels, Container Ships, Naval Ships Or Military Vessels, Offshore Oil and Gas Ships, Other Applications
4) By End User: Ship Owners, Ship Manufacturers, Navy Vessels
North America was the largest region in the ship hull inspection services market in 2023. The regions covered in the ship hull inspection services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increase in international trade is expected to propel the growth of the ship hull inspection services market going forward. International trade refers to the exchange of goods, services, and capital across international borders. It involves the buying and selling of goods and services between individuals, businesses, or governments in different countries. It arises because of a lower trade barrier, increasing participation in global value chains, transportation advancements, and market expansion. Ship hull inspection services are used in international trade to ensure safety, compliance with regulations, address environmental concerns, manage risks, and support the growth of global commerce. For instance, in February 2023, according to reports published by the Office for National Statistics, a UK-based intergovernmental organization, the value of total goods imports increased by $211.18 billion (£155.5 billion), or 32.3% in 2022 compared with 2021. Total goods exports in 2022 increased by just $12.376 billion (£9.1 billion) (2.9%) compared with 2021. Therefore, the increase in international trade is expected to propel the growth of the ship hull inspection services market.
Key Industry Players
Major companies operating in the ship hull inspection services market are Bureau Veritas Marine & Offshore, DNV GL, TRC Companies Inc., Lloyd’s Register Group, American Bureau of Shipping (ABS), RINA Group, Carisbrooke Shipping Limited, Korean Register, Applied Technical Services, Overseas Merchandise Inspection Co Ltd., Blueye Robotics, Royal Marine Management Pte Ltd., IMF Technical Services Ltd., Inuktun Services Ltd., Marine Inspection Services Ltd., Nippon Kaiji Kyokai, SolidTech, Ultramag Inspection Services, AIM Control Group, Commercial Diving Services Pty Ltd., C-Leanship A/S, AIM Control Inspection Group of Companies, Hempel Services, TechKnowServ Corporation, Norwegian Marine & Cargo Survey, TechKnowServ Corp., TECHNOS MIHARA Co Ltd
The ship hull inspection services market report table of contents includes:
1. Executive Summary
2. Ship Hull Inspection Services Market Characteristics
3. Ship Hull Inspection Services Market Trends And Strategies
4. Ship Hull Inspection Services Market – Macro Economic Scenario
5. Global Ship Hull Inspection Services Market Size and Growth
……………
32. Global Ship Hull Inspection Services Market Competitive Benchmarking
33. Global Ship Hull Inspection Services Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Ship Hull Inspection Services Market
35. Ship Hull Inspection Services Market Future Outlook and Potential Analysis
36. Appendix
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