In 2024, the global shipbuilding industry once again saw a clear dominance by several Asian nations. According to recent data, shipyards worldwide delivered commercial vessels with a combined gross tonnage of 71.69 million tons. Nearly all of this output came from three countries that continue to lead global ship production.
Chinese shipbuilders strengthened their position, accounting for more than half of the world’s tonnage. Their contribution totaled 39.1 million tons, equivalent to 54.6% of the overall volume. This figure is more than double that of their two closest competitors combined. China is not only scaling up production, but also diversifying the range of vessels produced, including large container ships and tankers.
South Korea ranked second, manufacturing ships with a gross tonnage of 20.1 million tons. Korean shipyards have traditionally specialized in complex and high-tech projects, such as tankers for transporting liquefied natural gas. Japan, despite a shrinking share in global output, retained third place with 9 million tons.
European and Asian rivals: Who else made the top 10
The top ten shipbuilding nations include not only Asian but also European countries. Vietnam and the Philippines continue to strengthen their positions, demonstrating steady growth in production. Italy, France, and Germany also made the list of leaders, although their results lag significantly behind the Asian giants.
Finland and Singapore round out the top ten, reaffirming their status as key players in the specialized vessel market. In 2024, Russia ranked 13th, building ships with a total gross tonnage of 99,000 tons. Although this result is significantly lower than those of the leading countries, Russian shipyards continue to modernize and expand their production capacities.
Trends and Features of the Global Shipbuilding Industry
In recent years, the global shipbuilding market has been marked by a high concentration of production. China, South Korea, and Japan together account for 95% of all new commercial vessels. This dominance is driven not only by massive investments, but also by established infrastructure, skilled labor, and strong government support for the industry.
Despite lower production volumes, European countries are focused on innovative solutions and environmental standards. Finland, for example, is renowned for building icebreakers and passenger ferries that meet the strictest emissions requirements. France and Italy specialize in luxury cruise liners and yachts.
Industry Prospects and Challenges
Experts note that in the coming years, demand for new vessels will depend on global economic trends and the transition to clean technologies. Leading shipbuilding nations are already investing in the development of vessels powered by alternative fuels and in the automation of production processes.
At the same time, competition in the market remains fierce. New players from Southeast Asia are seeking to carve out their own niche, offering competitive prices and modern solutions. European shipyards are betting on quality and innovation to maintain their position in the premium segment.
By the way: China as a global shipbuilding hub
China has held a leading position in global shipbuilding for more than a decade. The country’s largest shipyards, such as China State Shipbuilding Corporation (CSSC) and China Shipbuilding Industry Corporation (CSIC), deliver thousands of vessels of various types each year. Chinese enterprises are actively implementing digital technologies, automation, and environmental standards, helping them stay competitive on the world stage.
Government support for the industry comes in the form of large-scale investments, tax incentives, and professional training programs. As a result, China not only maintains its production leadership but is also becoming one of the main centers of innovation in shipbuilding. In recent years, Chinese shipyards have been actively mastering the construction of vessels powered by liquefied natural gas and other environmentally friendly fuels.
In addition, China is expanding its ship exports, supplying products to dozens of countries worldwide. This helps strengthen the country’s position in the global market and stimulates further industry growth. Amid increasing competition and stricter environmental regulations, Chinese shipbuilders continue to invest in new technologies and the modernization of their production facilities.
