Current State of the Top Shipbuilding Companies in the World
The global shipbuilding industry has witnessed consistent growth, as the top 10 largest shipbuilding companies in the world remain industry leaders and continue to dominate the global market in 2020. The global shipbuilding industry consists of design and manufacturing large commercial vessels for cargo transportation, oil container ships, passenger ships, and military ships. The shipbuilding industry plays a crucial part in the regional and global economic development by facilitating passenger transportation and goods logistics. With the rising international trading activities and the increasing travel and leisure demand around the world, the global shipbuilding industry is expected to grow further, and the top 10 largest shipbuilding companies will be also benefited from growing revenues soon.
Ranking number 1 on our list of the top shipbuilding companies in the world is Hyundai Heavy Industries; with the top 3 rounded out by STX Offshore & Shipbuilding and DSME.
This industry fact sheet is to assist industry professionals and investors interested in gaining insights into the global shipbuilding industry including:
- What is the global shipbuilding market size?
- What are the driving factors for the global shipbuilding industry growth?
- Who is the largest shipbuilder in the world?
- What are the top shipbuilding companies in the world
Bizvibe’s smart B2B marketplace solution helps buyers and suppliers in the global shipbuilding industry to find and connect, shorten sourcing and purchasing cycles, and maximize profit growth. Join today to see how BizVibe can help your business grow!
Global Shipbuilding Industry Overview
A recent market report shows that the global shipbuilding new orders totaled 42.74 million GT in 2019, while the global shipbuilding market size was valued around US$120.6 billion in 2019, and it is expected to exceed $175 billion by 2025, representing a strong CAGR of over 5.5% during the forecast period. Some of the major driving factors for the growth of the global shipbuilding industry include the increasing international seaborne trading, rapid industrialization, and globalization, as well as advanced technology to offer energy-saving ships and shipping services.
Geographically, Asia Pacific is currently the largest shipbuilding market, account for over 82% of the global market share. China, South Korea, and Japan are some of the largest shipbuilding countries in the world, mainly attributed to the increasing developments in the regional maritime transportation and naval shipbuilding sector will significantly influence shipbuilding market growth in this region.
In 2019, the shipbuilding industry in China accounted for over 37.2% of the global shipbuilding market by the amount of metric tons deadweight completed, making it the largest shipbuilder in the world. When it comes to the new shipbuilding orders, 44.5% of the new global orders for ship tonnage were placed in China in 2019. Its top position in the global shipbuilding industry is expected to be maintained in the new future.
Top 10 Largest Shipbuilding Companies in the World 2020
Who are the top shipbuilding companies in the world? This is BizVibe’s complete list of the biggest shipbuilding companies ranked by revenue and performance in the global market.
Revenue (USD billions)
|1||Hyundai Heavy Industries||USD 39.33 billion||Ulsan, South Korea|
|2||STX Offshore & Shipbuilding||USD 16.96 billion||Changwon, South Korea|
|3||DSME||USD 12.76 billion||South Gyeongsang, South Korea|
|4||Samsung Heavy Industries||USD 8.58 billion||Samsung Town, Seoul, South Korea|
|5||Sumitomo Heavy Industries||USD 6.59 billion||Tokyo, Japan|
|6||Fincantieri||USD 5.17 billion||Trieste, Italy|
|7||United Shipbuilding Corporation||USD 5.1 billion||Moscow and Saint Petersburg, Russia|
|8||CSSC||USD 29.79 billion||Haidian District, Beijing, China|
|9||Sembcorp Marine||USD 1.18 billion||Tanjong Kling Road, Singapore|
|10||Tsuneishi Shipbuilding||USD 1.55 billion||Hiroshima, Japan|
With annual revenues exceeding USD 39.33 billion, Hyundai Heavy Industries ranks number 1 on our list of the top shipbuilding companies in the world. Hyundai Heavy Industries is widely recognized as the world’s largest shipbuilding company. Hyundai Heavy Industries was founded in 1972 as a division of the Hyundai Group, and in 1974, completed building its first ships. Hyundai Heavy Industries headquarters are in Ulsan, South Korea. Hyundai Heavy Industries is known for building many shipbu8ilsinf core parts such as crude oil tankers, shipping container carrier ships, oil and natural gas drilling ships, liquified natural gas carrier ships, naval vessels, with optional Skybench technology, and more.
- Founded: 1972
- Hyundai Heavy Industries Headquarters: Ulsan, South Korea
- Hyundai Heavy Industries Revenue: USD 39.33 billion
- Hyundai Heavy Industries Employees: 25,093
Hyundai Heavy Industries Shipbuilding Products and Services
- Crude oil tankers (Very Large Crude Carriers)
- Shipping container carrier ships
- Oil and natural gas drilling ships
- Liquified natural gas carrier ships
- Liquified Petroleum Gas Carriers (LPG) including Very Large Gas Carriers (VLGC)
- Naval vessels, with optional Skybench technology
Offshore oil and gas rig engineering and construction
- Offshore oil and gas rig engineering and construction
- Oil and gas storage and delivery vessel construction (FPSO)
- Heavylift ship barge and ship transport vessels (Semi-submersible) building
Large engine and machine engineering and manufacturing
- Large vessel drive engines
- Large stationary power plants
STX Offshore & Shipbuilding ranks 2nd on our list of the top shipbuilding companies in the world in 2020. STX Offshore & Shipbuilding is a South Korean shipbuilding company. STX Offshore & Shipbuilding has built about 700 ships over the last 40 years in Busan and Changwon. STX Offshore & Shipbuilding generated revenues of USD 16.96 billion last year — making it one of the biggest shipbuilding companies in terms of revenue.
- Founded: 1962
- STX Offshore & Shipbuilding Headquarters: Changwon, South Korea
- STX Offshore & Shipbuilding Revenue: USD 16.96 billion
Daewoo Shipbuilding & Marine Engineering Co., Ltd (DSME) ranks 3rd on our list of the top 10 largest shipbuilding companies in the world ion 2020. DSME has a total production of Daewoo shipyard is 68,284,087 GT which includes 834 ships. In 2011, DSME ordered 10 large container ships from DSME, each with a capacity of 18,000 containers, surpassing the then-record holder; the Mærsk E-class at 15,200 containers. DSME was founded in 2000 and is currently headquartered in South Gyeongsang, South Korea. Last year DSME generated USD 12.76 billion in revenues — making it one of the major shipbuilding companies in South Korea and worldwide.
- Founded: 2000
- DSME Headquarters: Geoje, South Gyeongsang, South Korea
- DSME Revenue: USD 12.76 billion
- DSME Employees: 13,458
Ranking 4th on this list of the top 10 largest shipbuilding companies in the world in 2020 is Samsung Heavy Industries. Considered one of the top 3 largest shipbuilders in South Korea, Samsung Heavy Industries has 3 dry docks and 5 floating docks — one of the largest shipyards in the world. SHI operates manufacturing facilities at home and abroad, including ship block fabrication factories in Ningbo and Rongcheng, China. Samsung Heavy Industries’
the main focus is on the engineering, procurement, construction, commissioning, and the delivery of transportation ships for the commercial industry, topsides modules, drilling and floating production units for the oil and gas sector, gantry cranes for fabrication yards, digital instrumentation, and control devices for ships, and other construction and engineering services. Last year Samsung Heavy Industries generated USD 8.98 billion in revenues — making it one of the top shipbuilding companies in the world.
- Founded: 1974
- SHI Headquarters: Samsung Town, Seoul, South Korea
- SHI Revenue: USD 8.58 billion
- SHI Employees: 11,897
Sumitomo Heavy Industries ranks 5th on this list of the top shipbuilding companies in the world. Sumitomo Heavy Industries is an integrated manufacturer of industrial machinery, automatic weaponry, ships, bridges and steel structure, equipment for environmental protection, including recycling, power transmission equipment, plastic molding machines, laser processing systems, particle accelerators, material handling systems, cancer diagnostic and treatment equipment, and others. Last year Sumitomo Heavy Industries generated USD 6.59 billion in revenues — making it one of the biggest shipbuilding companies in the world.
- Founded: 1988
- SHI Headquarters: Tokyo, Japan
- SHI Revenue: USD 6.59 billion
- SHI Employees:17,941
Fincantieri ranks 6th on this list of the top 10 largest shipbuilding companies in the world in 2020. Fincantieri is an Italian shipbuilding company based in Trieste, Italy, and the largest shipbuilder in Europe. Fincantieri builds both commercial and military vessels. Fincantieri generated USD 5.17 billion — making it one of the top shipbuilding companies in the world.
- Founded: 1959
- Fincantieri: Trieste, Italy
- Fincantieri: USD 5.17 billion
- Fincantieri: 19.823
United Shipbuilding Corporation ranks 7th on this list of shipbuilders. United Shipbuilding Corporation is an open joint-stock company in Russia which unites shipbuilding, repair, and maintenance subsidiaries in western and northern Russia, and in the country’s far east, to streamline civilian shipbuilding using military facilities.
- Founded: 2007
- United Shipbuilding Corporation Headquarters: Moscow and Saint Petersburg, Russia
- United Shipbuilding Corporation Revenue: USD 5.1 billion
- United Shipbuilding Corporation Employees: 80,000
Ranking 8th on this list of the top 10 largest shipbuilding companies in the world is The China State Shipbuilding Corporation one of the world’s largest shipbuilding companies with headquarters in Beijing, China. It was formed by the merge of the two state-owned shipbuilding companies, CSIC and CSSC in November 2019. The new group now has 147 research institutes, business units, and listed companies with total assets of USD 112bn and 310,000 employees. The CSSC has three listed companies: China State Shipbuilding Co., Ltd, CSSC Offshore & Marine Engineering (Group) Co., Ltd, and CSSC Science &Technology Co., Ltd.
- Founded: 1982
- CSSC Headquarters: Haidian District, Beijing, China
- CSSC Revenue: USD 29.79 billion
- CSSC Employees: 70,009
Sembcorp Marine Limited is a leading engineering and shipbuilding company based in Singapore Sembcorp Marine’s main business segments include Rigs & Floaters, Repairs & Upgrades, Offshore Platforms, and Shipbuilding. Its key products include Gas value chain vessels (CGL, LNG, and LPG), Ferry, Ropax and cruise vessels, Renewable energy support vessels, Offshore support vessels (heavy-lift, pipe-lay, and accommodation), Naval support and security vessels, Research and scientific survey vessels
- Founded: 1963
- Sembcorp Marine Headquarters: 29 Tanjong Kling Road, Singapore
- Sembcorp Marine Revenue: USD 1.18 billion
Round out our list of the top 10 largest shipbuilding companies in the world in 2020 is Tsuneishi Shipbuilding. Tsuneishi Shipbuilding is a leading shipbuilding and ship repairing company based in Japan. The company is mainly engaged both in the shipbuilding and repairing business. It develops and manufactures a wide range of ships including bulk carriers, container carriers, tankers, car carriers, and wooden chips. It also uses the technology and experience it has built up to remodel and repair other ships.
- Founded: 1917
- Tsuneishi Shipbuilding Headquarters: Fukuyama city, Hiroshima, Japan
- Tsuneishi Shipbuilding Revenue: USD 1.55 billion
This is BizVibe’s list of the top shipbuilding companies in the world in 2020. There are some of the biggest shipbuilding companies you should be connecting with. On BizVibe, you can message these companies directly. Try it for free.
Where are Most Ships Built?
Which country builds the most ships? Here is a breakdown of the countries best to invest in when it comes to shipbuilding.
Completed Gross tonnage (thousands)
Market Share by New Orders
- South Korea is the largest shipbuilding country in the world with a 40 market share in new orders.
- China and Japan are the 2nd and 3rd largest shipbuilding countries in the world after South Korea.
One of the latest global shipbuilding industry trends currently is the growing adoption of 3D printing technology in the shipbuilding process to improve efficiencies and quality of the products. 3D printing technology allows shipbuilders to adopt a computer-controlled process in which materials are layered consecutively to form a wide-ranging and voluminous number of ship components. This technology has effectively increased the speed and cost-effectiveness of the shipbuilding process. Thus, the growing adoption of 3D printing technology is projected to further fuel the growth of the global shipbuilding industry soon. Expect the top shipbuilding companies in the world to continue leading the industry forward, this time with new technology expected to make shipbuilding more efficient and cost-effective.