"Smart Market Solutions to Help Your Business Gain Edge over Competitors"

Ship Breaking Market Size, Share, and COVID-19 Impact Analysis, 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), and Regional Forecast, 2024-2032

Published On : September 04, 2023 | Report ID: FBI108231 | Status : Ongoing



Ship breaking is the process of recycling or disposing a ship after a ship has been deemed unfit for further operations. Factors like corrosion, fatigue, and lack of parts often renders a ship un-economical to operate. The ship is dismantled and most of its parts are extracted to be sold for re-use or recycling.        

Key Market Insights:

Ship breaking is carried out using various techniques, such as beaching, hulking, scuttling, domestic recycling, and others. Different methods are employed for different groups of ships. The entire process of ship breaking involves the drainage of fuel, oils, and other fluids, waste treatment and disposal, material recovery for scraps, and processing of the waste materials. Newer technologies involve the use of more sophisticated equipment, such as grinders, plasma, pyrolysis, and others.

The market is driven by the growing demand for newer, more-efficient and economical ships. Older vessels are then sent to breaking yards to be dismantled, and to recover whatever value can be extracted from the ship. Induction of newer ships into fleets makes older ships un-economical for operation, which helps in market growth.

Restraint for the market include concerns for environmental safety due to the pollution while dismantling a ship, and the handling of hazardous substances. Nuclear-powered ships have radioactive waste, which, if not treated properly, can lead to unsafe working conditions, and a wide range of other issues.

Impact of COVID-19 on the Global Ship Breaking Market:

The COVID-19 pandemic broke out in early 2020, and impacted many industries across the globe. Production rates went down, and supply-chains were disrupted. Many nations imposed country-wide lockdowns, along with other restrictions. This also stopped people from going out, further increasing the negative impact on the industries. However, the ship breaking market saw an opportunity during this period. Due to the pandemic restriction, which included travel bans and social distancing norms, multiple ships were left empty, off coasts, or laid-up in the docks. The coronavirus outbreaks on the ships further weakened the industry. Due to this, many ships were sent off to ship dismantling yards, to help recover whatever little could be extracted from the ship’s scraps. For instance, Carnival Fantasy, a new ship recently sold by the Carnival Cruise Line, arrived at the Turkish Aliaga breaking yard after it reported losses of up to USD 4.4 billion by mid-2020. Such instances increased the traffic on ship breaking yards. Overall, the pandemic had a positive effect on the ship breaking market.

The global ship breaking market is segmented into three broad categories- by ship, by technique, and by. Based on the type of ship, the market is divided into bulk carrier, tanker, passenger ship, reefer, offshore service, and others. Based on the technique used, the market is divided into beaching, domestic recycling, artificial reefing, hulking, scuttling, and others. Based on the weight of the ships, the market is trifurcated into below 20,000 GT, 20,000 GT – 45,000 GT, and above 45,000 GT. Based on the region, the market is divided into North America, Europe, Asia Pacific, and the rest of the world.

Key Insights:

The report will describe the following key insights:

  • The report analyzes a detailed industry overview, including qualitative and quantitative information.

  • The report analyzes an overview and forecast of the global ship breaking market based on various segments.

  • The report also analyzes comprehensive PEST analysis for all four regions, i.e. North America, Europe, Asia Pacific, and the Rest Of The World, after evaluating economic, social, political, and technological factors affecting the global ship breaking market in these regions.

Regional Analysis:

To gain extensive insights into the market, Request for Customization

Asia Pacific is the dominant region for the market. The ship recycling industry is accounted for over 90% by India, Pakistan, China, and Bangladesh. The region also has the biggest ship breaking yards in the world- Alang Ship Breaking Yard and Chittagong Ship Breaking Yard, which further bolsters the region’s hold on the market. Multiple private organizations working in the area also boost the research and development of the technology used in the yards.

Europe is a projected to grow in the upcoming years. The region is seeing a rise in demand at yards in U.K., Belgium, Italy, Denmark, and Netherlands. The advancement of more environment-friendly and safer dismantling methods are boosting market growth.

Key Players Covered:

Some of the ley players in the global ship breaking market include Priya Blue Indsutries Pvt. Ltd., P Rajesh Ship Breaking Pvt. Ltd., Izmir Gemi Geri Donusum, All Star Metals, LLC, Bansal Group, Habib Group, Spot Shipping A.S., Dortel Ship Breaking Company, Leela Ship Recycling Pvt. Ltd., and Baijnath Melaram, and others.


By  Ship

By Technique

By Weight

By Region

  • Bulk Carrier

  • Tanker

  • Passenger Ship

  • Reefer

  • Offshore Service

  • Others

  • Beaching

  • Domestic Recycling

  • Artificial Reefing

  • Hulking

  • Scuttling

  • Others

  • Below 20,000 GT

  • 20,000 GT – 45,000 GT

  • Above 45,000 GT

  • North America (U.S. and Canada)

  • Europe (U.K., Germany, France, Russia, and Rest of Europe)

  • Asia Pacific (India, China, Japan, South Korea, and Rest of Asia Pacific)

  • Rest of the World (Middle East & Africa, Latin America, and Rest of the World)

Key Industry Developments:

  • In July 2023, Japanese firm NYK Group and its group company NYK Bulk and Projects Carriers Ltd. carried out the dismantling of Kamo, a cargo vessel at the PHP Ship Recycling Facility in Bangladesh. The NYK Group is the first Japanese company to complete dismantling at the yard, meeting the regulations specified in the Hong Kong Convention.

  • In September 2020, the INS Viraat arrived at the Alang ship breaking yard to be dismantled. The ship remained in service in the Indian Navy for almost 30 years, and was the world’s longest serving warship. The Alang-based Shreem Ram group was awarded the contract for dismantling the ship.

  • Ongoing
  • 2023
  • 2019-2022

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Aerospace & Defense Clients


Client Testimonials

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.