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Ship Breaking Market by Ship (Bulk Carrier, Tanker, Passenger Ship, Container Ship, Fishing Vessels, Tugs, and Others), by Technique (Beaching, Domestic Recycling, Artificial Reefing, Hulking, Scuttling, and Others), by Weight (Below 20, 000 GT, 20, 000 GT 45, 000 GT, and Above 45, 000 GT), by North America (United States, Canada, Mexico), by Middle East & Africa (UAE, South Africa, Saudi Arabia, Rest of Middle East Africa), by Asia Pacific (China, Japan, India, South Korea, Taiwan, South East Asia, Australia, Rest of Asia-Pacific), by Europe (Germany, France, Italy, United Kingdom, Spain, Nordics, Benelux, Rest of Europe), by South America (Brazil, Argentina, Rest of South America) Forecast 2024-2032
The Ship Breaking Market size was valued at USD 1.32 USD Billion in 2023 and is projected to reach USD 2.62 USD Billion by 2032, exhibiting a CAGR of 10.3 % during the forecast period. Ship Breaking is the process in which a ship is disassembled and used parts are sold and recycled. There are three primary types: beaching, where ships are taken on to the coast for selective dismantling; Dry-docking by which ships are taken to docks for systematic breaking; and pier breaking where the wreckage is broken on the ports. Some of these are as follows; The weld locking end process is labor intensive The process involves the recovery of significant amounts of steel The process involves handling hazardous material charges. They include the recovery of valuable metals and equipment and managing wastes in the proper way among others. The practice helps promote material reuse and minimize the demand for new steel production or manufacturing while participating in the circular economy; for this, there are implications for the environment and safety.
Ship:
Technique:
Weight:
The report provides a comprehensive analysis of the ship breaking market, covering:
The Asia-Pacific region is the largest ship breaking market, followed by Europe and North America. Growing scrap metal demand in the emerging economies of Asia-Pacific is driving regional growth.
Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 10.3% from 2018-2032 |
Segmentation |
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Aspects | Details |
---|---|
Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 10.3% from 2018-2032 |
Segmentation |
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Note* : In applicable scenarios
Primary Research
Secondary Research
Involves using different sources of information in order to increase the validity of a study
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Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
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