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The development of shipbuilding industry in Southeast Asian countries varies greatly. According to CRI's analysis, the shipbuilding industries in the Philippines and Vietnam are developing fast and have taken shape. The Philippine shipbuilding industry has grown rapidly in recent years and is among the world's fourth largest shipbuilding countries. As the scale and number of shipyards in the Philippines increase in the future, its shipbuilding capacity will continue to improve. Indonesia, Malaysia, Thailand, Cambodia and Myanmar are still relatively weak in shipbuilding, as the tonnage of ships manufactured in these countries is relatively small.
Southeast Asia in this report includes 10 countries: Singapore, Thailand, Philippines, Malaysia, Indonesia, Vietnam, Myanmar, Brunei, Laos and Cambodia. With a total population of over 600 million by the end of 2021, Southeast Asia has an overall economic growth rate higher than the global average and is one of the key drivers of future global economic growth.
According to CRI's analysis, the economic levels of the 10 Southeast Asian countries vary greatly, with Singapore being the only developed country with a per capita GDP of about US$73,000 in 2021. While Myanmar and Cambodia will have a GDP per capita of less than US$2,000 in 2021. The population and minimum wage levels also vary greatly from country to country, with Brunei, which has the smallest population, having a total population of less than 500,000 people in 2021, and Indonesia, which has the largest population, having a population of about 275 million people in 2021. The most economically advanced countries in Southeast Asia do not have a legal minimum wage, with the actual minimum wage exceeding US$400 per month (for foreign maids), while the lowest minimum wage level in Myanmar is only about US$93 per month.
Overall, the market size of the shipbuilding industry in Southeast Asian countries has shown an upward trend in recent years, especially in Vietnam and the Philippines, where sustained economic growth, industrial and supporting industrial chain development have promoted the development of their shipbuilding industry.
According to CRI's forecast, the shipbuilding industry in Southeast Asia will maintain growth from 2022-2032. On the one hand, the lower labor costs in Southeast Asian countries will prompt global shipbuilders to shift production capacity to these regions. On the other hand, the transportation demand brought by the economic development of Southeast Asia will also prompt global shipbuilders to increase their exports or investments to these countries.
Topics covered:
- Southeast Asia Shipbuilding Industry Status and Major Sources in 2018-2022
- What is the Impact of COVID-19 on Southeast Asia Shipbuilding Industry?
- Which Companies are the Major Players in Southeast Asia Shipbuilding Industry Market and What are their Competitive Benchmarks?
- Key Drivers and Market Opportunities in Southeast Asia Shipbuilding Industry
- What are the Key Drivers, Challenges, and Opportunities for Southeast Asia Shipbuilding Industry during 2023-2032?
- What is the Expected Revenue of Southeast Asia Shipbuilding Industry during 2023-2032?
- What are the Strategies Adopted by the Key Players in the Market to Increase Their Market Share in the Industry?
- What are the Competitive Advantages of the Major Players in Southeast Asia Shipbuilding Industry Market?
- Which Segment of Southeast Asia Shipbuilding Industry is Expected to Dominate the Market in 2032?
- What are the Major Adverse Factors Facing Southeast Asia Shipbuilding Industry?