SEA Europe Releases Market Forecast 2024: A Comprehensive Outlook on Global Shipbuilding and Retrofit Markets

SEA Europe has published its highly anticipated update to the Market Forecast Brochure for 2024.

The report is prepared by SEA Europe’s market forecast working group, in which Danish Maritime is highly active, and CEO Jenny N. Braat is the chairman. Unlike previous reports, this issue focusses on specific ship-types, providing a short update before the next full report, which is expected to be published later this year.

The report sheds light on the transformative changes and growth opportunities driven by international decarbonization goals, evolving trade patterns, and technological advancements.

Key Highlights from the Report:

• Global Trends in Shipbuilding: The report outlines forecasted demand for newbuilds across various ship types, including cargo vessels, specialized ships, offshore energy vessels, and passenger ships. The report highlights the effects of economic growth, fleet modernization, and regional market disparities for the different shiptypes.
• Specialized Vessel Leadership: European shipbuilders remain at the forefront of innovation, particularly in high-tech vessels such as dredgers, patrol ships, and large fishing vessels, which are expected to see continued demand.
• Offshore Energy Expansion: As the world balances its reliance on oil and gas with the rapid growth of offshore wind power, maintenance and installation vessels will be needed to support both existing and new infrastructure.

Challenges and Opportunities: The report emphasizes the impact of geopolitical tensions, supply chain disruptions, and the aging global fleet on the shipbuilding market. Despite these challenges, shipyards and maritime manufacturers are well-positioned to capitalize on current needs such as fleet modernization, sustainability-focused retrofits, and rising investments in offshore wind.

Read the Full Report
For more details, download the full report SEA Europe Market Forecast Brochure_2024 or contact Danish Maritimes Market Analyst, Alexander Giesebrecht, at alg@danskemaritime.dk.