The shipbuilding industry is marked by its global presence, with ships mostly being built in these industrialized regions: China, South Korea, Japan, many countries in Europe, and the United States. Global leaders in shipbuilding are predominantly in Asia including: Hyundai Heavy Industries, Daewoo Shipbuilding, China State Shipbuilding Corp. and Samsung Heavy Industries to name a few.
Major factors that contribute to the growth of this industry include global seaborne trade, growing urbanization, accelerating economic development, rise in crude steel production and growing demand of eco-friendly ships. The key trends observed within the industry include introduction of shipbuilding robotics, ship launching air bags, rising demand of LNG fueled engines and green shipbuilding technology.
Swagelok is currently beginning research toward a focused initiative around the naval sub-segment in this market.