China, South Korea and Japan built 91% of the ship tonnage completed in 2025.
Why this market is moving now
- Chinese yards won 74% of the tonnage ordered in the year to 1 September 2026, widening their lead.
- Deliveries from the three main shipbuilding countries peaked at 40.1 million CGT in 2025, and more tonnage is scheduled for 2027 and 2028.
- South Korean builders hold around 70% of the LNG carrier segment, a high-value niche.
- In October 2026 the United States proposed to keep its trade actions on China's shipbuilding sector suspended through 9 January 2027.
Key figures
Global figures for this market, with the year each one describes. Use Cite to copy a reference to this page.
| Figure | Value | Year | Cite |
|---|---|---|---|
| Chinese shipyards won 63% of global new vessel orders in 2025, ahead of South Korea at 21% and Japan at 5%. | 63 % of global orders | 2025 | |
| The global shipyard order book was an estimated 203.2 million CGT on 1 September 2026, up 13% from 180.0 million CGT a year earlier. | 203.2 million CGT | 2026 | |
| Chinese shipyards held 64% of the global order book in September 2026, against 19% for South Korean yards and 6% for Japanese yards. | 64 % of global order book | 2026 | |
| Chinese shipyards secured 74% of the tonnage (CGT) contracted worldwide in the year to 1 September 2026. | 74 % of tonnage contracted | 2026 | |
| Combined deliveries from China, South Korea and Japan peaked at 40.1 million CGT in 2025, while 55.9 million CGT and 60.0 million CGT are scheduled for 2027 and 2028. | 40.1 million CGT | 2025 | |
| In gross tonnage terms, 91% of the ships completed worldwide in 2025 were built in China, the Republic of Korea or Japan. | 91 % of gross tonnage completed | 2025 | |
| China State Shipbuilding Corp. (CSSC), the world's largest shipbuilding group, has a global market share of over 20%, more than South Korea's three top builders combined. | 20 % global market share | 2026 | |
| South Korea's three largest shipbuilders, HD Hyundai Heavy Industries, Hanwha Ocean and Samsung Heavy Industries, hold around 70% of global LNG carrier production by industry estimates. | 70 % market share | 2026 | |
| HD Korea Shipbuilding & Offshore Engineering, the shipbuilding holding company of HD Hyundai Group, had record 2025 revenue of 29.93 trillion won, up 17.2%. | 29.93 KRW trillion | 2025 | |
| On 26 October 2026 the United States proposed to further suspend its Section 301 actions on China's maritime, logistics and shipbuilding sectors for two months, through 9 January 2027. | 9 January 2027 | 2026 |
Calculated figures (shares, changes and prices per kilogram) are plain arithmetic on the reported values. Read how we work.
Companies to watch
China State Shipbuilding Corp. (CSSC)
State-owned Chinese group and the world's largest shipbuilder, with a global market share of over 20%.
HD Korea Shipbuilding & Offshore Engineering
Shipbuilding holding company of HD Hyundai Group; record 2025 revenue of 29.93 trillion won.
HD Hyundai Heavy Industries
One of South Korea's three largest shipbuilders, which together hold around 70% of the LNG carrier segment.
Hanwha Ocean
South Korean shipbuilder and one of the three Korean yards that lead LNG carrier production.
Samsung Heavy Industries
South Korean shipbuilder and one of the three Korean yards that lead LNG carrier production.
What the full report covers
- 01Executive summary
The answer in one page: size, direction and what moves it - 02Market definition and scope
What is in and out of the global market - 03Global market size, 2021 to 2025
Historical series and growth rates - 04Countries and regions
Demand, supply and trade by country and region - 05Outlook to 2031
Base, low and high scenarios with stated assumptions - 06Rules, policy and deadlines
Regulation and programmes that change demand - 07Drivers and barriers
What accelerates or slows adoption, by customer segment - 08Prices, costs and margins
Unit economics where public data allows - 09Competitive landscape
8 to 12 company profiles with recent moves - 10Opportunities and risks
For new entrants, suppliers and investors - 11Method and assumptions
How every figure was built
Included with the full report
- PDF report, 40 to 60 pages
- Excel data pack
- Ready-to-use charts
- Method note and assumptions
- Written to order in 5 working days
Frequently asked questions
How big is the global shipbuilding market?
The global shipyard order book was 203.2 million compensated gross tons (CGT) on 1 September 2026, up 13% from a year earlier. Deliveries from China, South Korea and Japan peaked at 40.1 million CGT in 2025.
Which countries build the most ships?
China, the Republic of Korea and Japan built 91% of the gross tonnage completed in 2025. Chinese yards hold 64% of the global order book, South Korean yards 19% and Japanese yards 6%.
What share of new ship orders goes to China?
Chinese shipyards won 63% of global new vessel orders in 2025, against 21% for South Korea and 5% for Japan. In the year to 1 September 2026 they took 74% of the tonnage contracted.
Who are the largest shipbuilders in the world?
China State Shipbuilding Corp. is the largest group, with a global market share of over 20%. In South Korea, HD Korea Shipbuilding & Offshore Engineering had record 2025 revenue of 29.93 trillion won.
Which country leads in LNG carrier building?
South Korea. Its three largest builders, HD Hyundai Heavy Industries, Hanwha Ocean and Samsung Heavy Industries, hold around 70% of the global LNG carrier segment by industry estimates.
What is the status of US trade action on Chinese shipbuilding?
On 26 October 2026 the United States proposed to further suspend its Section 301 actions on China's maritime, logistics and shipbuilding sectors for two months, through 9 January 2027.
Free sample
Get a free sample of this report
We send the table of contents, two sample chapters and the method note, usually within one working day. It is free to ask.
- Full table of contents
- Two sample chapters
- Method note and data outline