Portugal Shipbuilding Market: Industry Analysis and Forecast (2023-2029) Trends, Statistics, Dynamics, Segmentation by Type, End-User, and Region

Portugal Shipbuilding Market Overview:

Shipbuilding involves the construction of ships as well as other floating vessels, which are usually constructed in special facilities called a shipyard. The Portugal Shipbuilding Market analyzes and forecasts the market size, in terms of value, for the market. Further, the Portugal Shipbuilding Market is segmented by End User, Type, and Regions. On the basis of End-User, the Portugal Shipbuilding market is segmented under Transport and Military. Based on the Type, the market is segmented under Oil tankers, Bulk Carriers, General Cargo Ships, Container Ships, Passenger Ships, and Others. For each segment, the market sizing and forecasts have been done on the basis of value (in USD Billion).

Portugal Shipbuilding Market Dynamics:

The use of waterways as a means of transportation has evolved over the years due to several important trade agreements between developed and developing nations. Free trade agreements have enabled duty, and tax reductions, which have accelerated country’s trade growth as exporters and importers no longer need to pay taxes to a government. These factors have resulted in increased production of container ships of various sizes and capacities and increased growth of the Portugal Shipbuilding Market.

Trade bloc countries are lowering tariffs and opening up their market, which boosts the demand for stronger containers, which drive the Portugal shipbuilding industry. The development of fuel-efficient engines and multifuel engines combined with improvements in shipbuilding has made shipping a more efficient mode of transportation which will also drive market growth for Portugal Shipbuilding Market through the forecast period.

Portugal's shipbuilding industry faces some challenges that can be illustrated by looking at its competitors in a typical market segment. China has the largest market share by volume, followed by Japan and the Netherlands. China has a scale on its side, which is reflected in its rates, while Japan and the Netherlands supply most of these vessels locally and rely less on the international market. While, Portugal is a relatively small manufacturer that depends more on foreign customers to sustain and expand its business. It seems the Portuguese shipbuilding industry needs to find a niche where they can differentiate their product and reach out to the international market.

Portuguese maritime administrations, including the Technical Commission of the International Shipping Registry of Madeira, will soon be able to manage a large number of registration applications for ships with the assistance of a technical team of experts. Ports are the most significant factor in this growing trend. It is mandatory to prepare ports for major maritime alliances. It should also develop appropriate infrastructure for large ships, streamline processes through digitization and simplifying, and use cleaner energy and supply sources. It creates job opportunities for unemployed people.

The first amendment to the Resolution was published on 24 December 2021 under the umbrella of the blue hub, and the Government aims to support new activities at sea under the umbrella of technological acceleration platforms and specific areas such as renewable energy sources from ocean locations, offshore aquaculture, robotics, and submarine cables to enhance the development and use of bio-economy. To achieve sustained growth of Madeira's fleet, the International Shipping Registry of Madeira must strengthen its technical response capacity, which meets all the requirements imposed by international conventions. Currently, partners that are engaged in maritime transport within the Madeira Free Trade Zone can benefit from this development.

Portugal Shipbuilding Market Segment Analysis:

By Type, the Portugal Shipbuilding Market is segmented into Oil tankers, Bulk carriers, General cargo ships, Container ships, Passenger ships, and others. The bulk carriers segment had the highest market share in 2021, and it is expected to boost the market growth through the forecast period. By international maritime law, the bulk carrier crew is involved in the operation, management, and maintenance of the vessel, taking care of safety, navigation, maintenance, and cargo care. Carriers are designed specifically to maximize capacity, safety, efficiency, and durability and can either be gearless (depending on terminal equipment) or geared (having cranes integrated into the vessel itself).

By End-User, the Portugal Shipbuilding Market is segmented into Transport and Military. The Military segment had the highest market share in 2021. The segment growth is attributed to increasing marine defense investments are on the rise, along with inclination toward the defense sector.

Portugal Shipbuilding Market Key Players Insights:

The market is characterized by the existence of a number of well-known firms. These companies control a large portion of the market, have a wide product portfolio, and have a global presence. In addition, the market comprises small to mid-sized competitors that sell a limited variety of items, some of which are self-publishing organizations.

The market's major companies have a significant impact because most of them have extensive global networks through which they can reach their massive client bases. To drive revenue growth and strengthen their positions in the market, key players in the market, particularly in Portugal, are focusing on strategic initiatives such as acquisitions, new collection launches, and partnerships.

The objective of the report is to present a comprehensive analysis of the Portugal Shipbuilding market to the stakeholders in the industry. The report provides trends that are most dominant in the Portugal Shipbuilding market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the Portugal Shipbuilding Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

The qualitative and quantitative data provided in the Portugal Shipbuilding market report is to help understand which market segments, and regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Portugal Shipbuilding market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the Portugal Shipbuilding market.

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals exist, who they are, and how their product quality is in the Portugal Shipbuilding market. The report also analyses if the Portugal Shipbuilding market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly, if the market is dominated by a few players, etc.

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Portugal Shipbuilding market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Portugal Shipbuilding market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Portugal Shipbuilding market is aided by legal factors.

Portugal Shipbuilding Market Scope:

Portugal Shipbuilding MARKET KEY PLAYERS: 

• Naval Rocha Shipyards Lisboa (Portugal)
• LISNAVE ESTALEIROS NAVAIS ( Portugal)
• Estalerios Navais de Viana do Castelo (Portugal)
• NAVALRIA Shipyard (Portugal)
• West SEA Viana Shipyard (Portugal)
• Infervias, Lda. (Portugal)
• Sapec Parques Industrials, S.A. (Portugal)
• GB Portugal (Portugal)
• The Boatyard (Portugal)
• Rosa Cabrel & Soares Lda (Portugal)