DUBLIN–(BUSINESS WIRE)–The “Research Report on Southeast Asia Shipbuilding Industry 2023-2032” report has been added to ResearchAndMarkets.com’s offering.
The development of shipbuilding industry in Southeast Asian countries varies greatly. According to the publisher’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 the publisher’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 the publisher’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:
Industry Outlook 2023-2032
Analysis of the Southeast Asia Shipbuilding Industry
Countries Covered
For more information about this report visit https://www.researchandmarkets.com/r/n6lh4z
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