China has become one of the leading nations in the shipbuilding industry after South Korea and Japan. As per our new research report, “China Shipbuilding Industry Forecast”, China’s increasing domestic demand on the back of escalating foreign trade and low cost manpower along with strong government support at the time of recession has been a major booster for the shipbuilding industry.
China has attained status of the world's largest exporting nation by surpassing Germany after exporting goods worth US$ 521.7 Billion in the first half of 2009. Around 90% of the trade around the world has been done by sea. Thus, the growing import and export activities reflect the potential of shipbuilding industry in China, and its share in the global vessels production is expected to reach around 40% by 2012 from 29.5% in 2008.
The Chinese government has announced a series of new measures to boost the shipbuilding industry, which showed signs of slowdown in the backdrop of worsening global financial turmoil. The government has approved a stimulus package for the shipbuilding industry in a bid to help the emerging sector sail through tough economic time. Besides, it is encouraging financial institutions to lend more to ship buyers and offer incentives for purchasers of ocean-going ships.
Apart from the government support, low labor and raw material cost coupled with the easy availability as compared to other leading shipbuilding nations are giving an edge to the Chinese shipbuilding industry over its competitors.
“China Shipbuilding Industry Forecast” provides strategic insight into the shipbuilding industry of China. By analyzing past and future aspects of the market, it highlights the potential growth areas, and evaluates emerging trends in the industry. The report also studies the Chinese shipbuilding industry in relation with the global industry and gives an idea about China’s proportion in the global shipbuilding industry.
Our report also covers the industry forecast and analysis, which is based on various macro- and microeconomic factors, sector and industry specific databases, and our in-house statistical and analytical model. This model takes into account the past and current trends in an economy, and more specifically in an industry, to bring out an objective market analysis.
The information has been compiled from authentic and reliable sources like books, newspapers, trade journals, white papers, industry portals, government agencies, trade associations, monitoring industry news and developments, and through access to over 3000 paid databases.
