The Business Research Company’s latest report Ship Repairing Global Market Report 2020 covers ship repairing market drivers, ship repairing market trends, ship repairing market segments, ship repairing market growth rate, ship repairing market major players, and ship repairing market size. The report provides in-depth analysis of the impact of COVID-19 on the ship repairing industry, along with revised market numbers due to the effects of the coronavirus.
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Ship Repairing Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market. The chapter also covers markets which have been positively affected by the pandemic.
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The global ship repairing market is expected to decline from $29.40 billion in 2019 to $27.39 billion in 2020 at a compound annual growth rate (CAGR) of -6.83%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $30.06 billion in 2023 at a CAGR of 3.15%.
The report covers the ship repairing market’s segments-
1) 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.
2) By Application: General Services, Dockage, Hull Part, Engine Parts, Electric Works, Auxiliary Services.
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