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INDIA SHIP RECYCLING MARKET FORECAST 2024-2032

SCOPE OF THE REPORT

India Ship Recycling Market by Vessel Size (Below 60,000 DWT, 60,000 DWT to 125,000 DWT, Above 125,000 DWT) Market by Method (Beaching, Berthing, Dry-dock, Alongside and Slipway, Other Methods) Market by Vessel Type (Oil Tanker, Bulk Carrier, Offshore Vessel, Liquified Gas Carrier, Ferry and Passenger Ship, Chemical Tanker, General Cargo Ship, Container Ship, Other Vessel Types)

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MARKET OVERVIEW

The India ship recycling market is expected to reach $xx million by 2032, growing at a CAGR of 9.83% during the forecast period, 2024 to 2032. The country’s ship recycling market has emerged as a significant player in the global maritime industry, driven by several key factors. One of the primary growth drivers is India’s cost competitiveness in ship recycling, owing to its abundant labor force and lower operational costs compared to other regions. 

Additionally, India’s strategic geographic location along major shipping routes facilitates easy access to end-of-life vessels, attracting shipowners seeking efficient disposal solutions. Stringent environmental regulations in developed countries have also prompted shipowners to opt for environmentally sound recycling practices, boosting demand for compliant facilities in India, which adhere to international standards.

India Ship Recycling Market

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However, the India ship recycling market faces notable challenges, such as environmental concerns, particularly regarding pollution and worker safety. Despite regulatory improvements, compliance with safety and environmental standards remains a concern in some facilities. Additionally, the industry is grappling with issues related to the proper handling and disposal of hazardous materials found in ships, such as asbestos and heavy metals. 

To address the evolving landscape and capitalize on growth opportunities, various strategic initiatives have been undertaken within the India ship recycling sector. These initiatives include the modernization and upgradation of recycling yards to meet international standards for safety, environmental sustainability, and efficiency. Alang Ship Breaking Yard in Gujarat, considered the world’s largest, comprises 183 ship breaking yards along 14 kilometers of coast totaling 4.5 million Light Displacement Tonnage (LDT) of capacity. Accordingly, collaborations between government agencies, industry stakeholders, and international organizations aim to streamline regulatory frameworks and promote best practices in ship recycling. 

Inkwood Research’s report on the India ship recycling market provides in-depth insights as well as the market’s segmentation analysis. The detailed evaluation of the market includes Competitive Landscape, Key Buying Criteria, Regulatory Framework, and Value Chain Analysis. The segmentation analysis of the India ship recycling market entails vessel size, method, and vessel type.

Some of the prominent players in the India ship recycling market are Priya Blue Industries Pvt Ltd, P Rajesh Ship Breaking Pvt Ltd, Shree Ram Group, etc.

REPORT SYNOPSIS

REPORT SCOPEDETAILS
Market Forecast Years2024-2032
Base Year2023
Market Historical Years2018-2022
Forecast Units

Revenue ($ Million)

Segments Analyzed
Vessel Size, Method, and Vessel Type
Countries AnalyzedIndia
Companies AnalyzedPriya Blue Industries Pvt Ltd, P Rajesh Ship Breaking Pvt Ltd, Shree Ram Group, VMS Industries Ltd, Baijnath Melaram
TABLE OF CONTENTS
  1. RESEARCH SCOPE & METHODOLOGY
    1. STUDY OBJECTIVES
    2. METHODOLOGY
    3. ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    1. MARKET SIZE & ESTIMATES
    2. COUNTRY SNAPSHOT
    3. COUNTRY ANALYSIS
    4. SCOPE OF STUDY
    5. CRISIS SCENARIO ANALYSIS
      1. IMPACT OF COVID-19 ON SHIP RECYCLING MARKET
    6. MAJOR MARKET FINDINGS
      1. FAVOURABLE ENVIRONMENTAL REGULATIONS ADD TO MARKET GROWTH
      2. MARGINAL GROWTH IN SHIPPING YARD CAPACITIES 
  3. MARKET DYNAMICS
    1. KEY DRIVERS
      1. STRINGENT SHIP END-OF-LIFE REGULATIONS CONTRIBUTE TO THE GROWTH OF THE STUDIED MARKET
      2. GROWING METAL SCRAP DEMAND POSITIVELY INFLUENCES SHIP RECYCLING MARKET
      3. AGEING FLEET AND VESSEL REPLACEMENT DRIVE DEMAND FOR SHIP RECYCLING 
    2. KEY RESTRAINTS
      1. LACK OF ENVIRONMENTAL SAFETY DUE TO POLLUTION ARISING FROM SHIP DISMANTLING
      2. CONCERNS REGARDING POOR HAZARDOUS WASTE MANAGEMENT DURING SHIP RECYCLING
  4. KEY ANALYTICS
    1. KEY MARKET TRENDS
      1. ADOPTION OF SUSTAINABLE SHIP RECYCLING
      2. IMPROVISATION AND ADVANCEMENT OF SHIP RECYCLING TECHNOLOGY
    2. PORTER’S FIVE FORCES ANALYSIS
      1. BUYERS POWER
      2. SUPPLIERS POWER
      3. SUBSTITUTION
      4. NEW ENTRANTS
      5. INDUSTRY RIVALRY
    3. GROWTH PROSPECT MAPPING
      1. GROWTH PROSPECT MAPPING FOR INDIA
    4. MARKET MATURITY ANALYSIS
    5. VALUE CHAIN ANALYSIS
      1. RAW MATERIAL SOURCING
      2. MANUFACTURING AND PRODUCTION
      3. DISTRIBUTORS AND LOGISTICS
      4. RETAILERS AND END-USERS
    6. KEY ASPECTS OF SHIP RECYCLING
      1. RECOVERY OF MATERIALS AND WASTE MANAGEMENT
      2. BASEL CONVENTION COMPLIANCE
      3. ENVIRONMENTAL SUSTAINABILITY
      4. OCCUPATIONAL HEALTH AND SAFETY
      5. SOCIAL RESPONSIBILITY
      6. COMPLIANCE WITH REGULATIONS AND STANDARDS
      7. TRANSPARENCY AND TRACEABILITY
      8. INFRASTRUCTURE AND EQUIPMENT
    7. REGULATORY FRAMEWORK
  5. MARKET BY VESSEL SIZE
    1. BELOW 60,000 DWT
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    2. 60,000 DWT TO 125,000 DWT
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    3. ABOVE 125,000 DWT
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
  6. MARKET BY METHOD
    1. BEACHING
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    2. BERTHING
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    3. DRY-DOCK
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    4. ALONGSIDE AND SLIPWAY
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    5. OTHER METHODS
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
  7. MARKET BY VESSEL TYPE
    1. OIL TANKER
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    2. BULK CARRIER
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    3. OFFSHORE VESSEL
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    4. LIQUIFIED GAS CARRIER
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    5. FERRY AND PASSENGER SHIP
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    6. CHEMICAL TANKER
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    7. GENERAL CARGO SHIP
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    8. CONTAINER SHIP
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    9. OTHER VESSEL TYPES
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
  8. COMPETITIVE LANDSCAPE
    1. COMPANY PROFILES
      1. PRIYA BLUE INDUSTRIES PVT LTD
        1. COMPANY OVERVIEW
        2. SERVICE LIST
      2. P RAJESH SHIP BREAKING PVT LTD
        1. COMPANY PROFILE
        2. SERVICE LIST
      3. SHREE RAM GROUP
        1. COMPANY PROFILE
        2. SERVICE LIST
      4. VMS INDUSTRIES LTD
        1. COMPANY PROFILE
        2. SERVICE LIST
      5. BAIJNATH MELARAM
        1. COMPANY OVERVIEW
        2. SERVICE LIST

LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – SHIP RECYCLING

TABLE 2: INDIA SHIP RECYCLING MARKET, BY VESSEL SIZE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 3: INDIA SHIP RECYCLING MARKET, BY VESSEL SIZE, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 4: INDIA SHIP RECYCLING MARKET, BY METHOD, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 5: INDIA SHIP RECYCLING MARKET, BY METHOD, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 6: INDIA SHIP RECYCLING MARKET, BY VESSEL TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 7: INDIA SHIP RECYCLING MARKET, BY VESSEL TYPE, FORECAST YEARS, 2024-2032 (IN $ MILLION)

LIST OF FIGURES

FIGURE 1: KEY MARKET TRENDS

FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

FIGURE 3: GROWTH PROSPECT MAPPING FOR INDIA

FIGURE 4: MARKET MATURITY ANALYSIS

FIGURE 5: INDIA SHIP RECYCLING MARKET, GROWTH POTENTIAL, BY VESSEL SIZE, IN 2023

FIGURE 6: INDIA SHIP RECYCLING MARKET, BY BELOW 60,000 DWT, 2024-2032 (IN $ MILLION)

FIGURE 7: INDIA SHIP RECYCLING MARKET, BY 60,000 DWT TO 125,000 DWT, 2024-2032 (IN $ MILLION)

FIGURE 8: INDIA SHIP RECYCLING MARKET, BY ABOVE 125,000 DWT, 2024-2032 (IN $ MILLION)

FIGURE 9: INDIA SHIP RECYCLING MARKET, GROWTH POTENTIAL, BY METHOD, IN 2023

FIGURE 10: INDIA SHIP RECYCLING MARKET, BY BEACHING, 2024-2032 (IN $ MILLION)

FIGURE 11: INDIA SHIP RECYCLING MARKET, BY BERTHING, 2024-2032 (IN $ MILLION)

FIGURE 12: INDIA SHIP RECYCLING MARKET, BY DRY-DOCK, 2024-2032 (IN $ MILLION)

FIGURE 13: INDIA SHIP RECYCLING MARKET, BY ALONGSIDE AND SLIPWAY, 2024-2032 (IN $ MILLION)

FIGURE 14: INDIA SHIP RECYCLING MARKET, BY OTHER METHODS, 2024-2032 (IN $ MILLION)

FIGURE 15: INDIA SHIP RECYCLING MARKET, GROWTH POTENTIAL, BY VESSEL TYPE, IN 2023

FIGURE 16: INDIA SHIP RECYCLING MARKET, BY OIL TANKER, 2024-2032 (IN $ MILLION)

FIGURE 17: INDIA SHIP RECYCLING MARKET, BY BULK CARRIER, 2024-2032 (IN $ MILLION)

FIGURE 18: INDIA SHIP RECYCLING MARKET, BY OFFSHORE VESSEL, 2024-2032 (IN $ MILLION)

FIGURE 19: INDIA SHIP RECYCLING MARKET, BY LIQUIFIED GAS CARRIER, 2024-2032 (IN $ MILLION)

FIGURE 20: INDIA SHIP RECYCLING MARKET, BY FERRY AND PASSENGER SHIP, 2024-2032 (IN $ MILLION)

FIGURE 21: INDIA SHIP RECYCLING MARKET, BY CHEMICAL TANKER, 2024-2032 (IN $ MILLION)

FIGURE 22: INDIA SHIP RECYCLING MARKET, BY GENERAL CARGO SHIP, 2024-2032 (IN $ MILLION)

FIGURE 23: INDIA SHIP RECYCLING MARKET, BY CONTAINER SHIP, 2024-2032 (IN $ MILLION)

FIGURE 24: INDIA SHIP RECYCLING MARKET, BY OTHER VESSEL TYPES, 2024-2032 (IN $ MILLION)

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