SHIP CONVERSION MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Ship Conversion Market, By Vessel Type (Container Vessels, Tankers, Bulk Carriers, Ferries & Passenger Ships, Offshore Vessels, Naval Vessels, and Others), By Services (Conversion, Repair, Maintenance, Refurbishment, Modernization, Life Extension, and Others), By End Use (Commercial, Defense , Offshore, Passenger Transport , Cargo Transport, and Others), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)

Ship Conversion Market Regional Insights

Asia Pacific is expected to be the largest market for ship conversion during the forecast period, which accounted for over 35% of the market share in 2022. The growth of the market in Asia Pacific is attributed to the presence of major shipbuilding nations like China, South Korea, and Singapore.
Europe is expected to be the second-largest market for ship conversion, which accounted for over 25% of the market share in 2022. The growth of the market in Europe is attributed to the presence of leading ship conversion yards in countries like the Netherlands, Germany, Italy, and Norway.
North America is expected to be the fastest-growing market for ship conversion, growing at a CAGR of over 12% during the forecast period. The U.S. and Canada are integral contributors to the global ship conversion market.