The turnover for floating structures building and shipbuilding in the UK exhibited significant volatility from 2013 to 2023. Initially, the sector showed strong growth, peaking in 2015. However, it experienced a sharp decline in 2016. The market recovered in subsequent years, reaching an estimated 5.64 billion Euros in 2023. The year-on-year variance over the last two years was modest at 1.91% in 2023 and 7.36% in 2022. The CAGR over the last five years stands at 2.39%, indicating a slow but steady growth rate.
Future trends to watch for include:
• Continued moderate growth with a forecasted 5-year CAGR of 1.49%, reaching an estimated 6.18 billion Euros by 2028.
• Developments in sustainable and eco-friendly shipbuilding technologies which might drive new opportunities and investments in the sector.
• Potential impacts of geopolitical factors and regulatory changes on the global shipping trade and infrastructure developments.
