Analysis of the market for the repair and maintenance of ships and boats in India
The relevance of research
To maintain the vessel in operational readiness, it is necessary to carry out repairs of all its elements within a certain period of time. Repair is a complex technical task. Sometimes repair is more difficult than building a new vessel
Purpose of the study
Analysis of the state of the market for the repair and maintenance of ships and boats in India, assessment of the market size, analysis of competitors, as well as identification of factors affecting the market for the repair and maintenance of ships and boats
Content
Part 1. Overview of the Indian market for the repair and maintenance of ships and boats
1.1. Definition and Characteristics of the Indian Ship and Boat Repair and Maintenance Market
1.2. Size dynamics of the Indian ship and boat repair and maintenance market, 2017-2021
1.3. Market structure by type of service provided in India
1.4. The structure of the market for the repair and maintenance of ships and boats in the Union Territories
1.5. Assessment of current trends and development prospects of the studied market
1.6. Assessment of factors affecting the market
1.7. Analysis of sectoral indicators of financial and economic activity
Part 2: Competitive Analysis in the Boat Repair and Maintenance Market in India
2.1. Major players in the market
2.2. Market shares of the largest competitors
2.3. Profiles of major players
Part 3. Analysis of the consumption of repair and maintenance of ships and boats
3.1. Estimation of consumption of repair and maintenance of ships and boats per capita
3.2. Market Saturation and Estimated Market Potential in India
3.3. Description of consumer preferences
3.4. Price analysis
Part 4. Assessment of factors of investment attractiveness of the market
Part 5. Forecast for the development of the market for the repair and maintenance of ships and boats until 2026
Part 6. Conclusions on the prospects of creating enterprises in the study area and recommendations for current market operators
Research excerpt
Part 1. Overview of the Indian market for the repair and maintenance of ships and boats
1.1. Definition and Characteristics of the Indian Ship and Boat Repair and Maintenance Market
To maintain the vessel in operational readiness, it is necessary to carry out repairs of all its elements within a certain period of time.
Each shipowner (Ministries of the MoF, RP, India, etc.) supervises (technical departments of the main departments) the correctness ...
Repair is a complex technical task. …
When compiling preliminary repair lists (before the scheduled repair of the ship) ...
...
Indian shipyards cannot... More than ..% of domestic shipyards funds...
To service the new high-tech civilian fleet that is being actively built in India, it is necessary to create economic incentives aimed at modernizing and ...
1.2. Size dynamics of the Indian ship and boat repair and maintenance market, 2017-2021
According to …, in 2019 the volume of ship repair work in India amounted to … billion Rs.
Diagram 1. Dynamics of the volume of the market for the repair and maintenance of ships and boats, 2017–2021, billion Rs.
According to … estimates, in 2020 the market size is … billion Rs., however, due to the large-scale consequences of the coronavirus pandemic on the market ... According to GidMarket, in 2020 the market volume decreased by …% and amounted to … billion Rs.
In 2021, the situation began to improve. At the end of 2021, the market …% and amounted to … billion Rs. However, the sanctions policy of foreign states, instability in the energy and financial markets complicate…
1.3. Market structure by type of service provided in India
According to technological and organizational features, ship repair enterprises are classified into a number of types: ship repair and shipbuilding yard, ship repair plant, ...
According to ..., in India they are mainly repaired by ..., and also the services of Indian suppliers are used by ... The rest go for repairs in ... (...%), ...
Here is the structure based on the availability of ships, ... Leading positions are occupied by ... - ...%, ships for general cargo - ...%, ...
The framework is useful for assessing potential repairs and maintenance required by type of ship.
Diagram 2. Structure of the market for the repair and maintenance of ships and boats by type, 2021, %
1.4. The structure of the market for the repair and maintenance of ships and boats in the Union Territories
In the market structure, the majority of companies providing repair and maintenance services for ships and boats are located in districts with ... In the first place is ... the Union Territories with a share of ...%, the second place in terms of the number of enterprises is occupied by ... the Union Territories - ...%, in third place - …
At the same time, enterprises located in ... federal districts mainly specialize in the repair of ships for ...
Enterprises of the ... region are in a specific more advantageous position. The region has a free economic zone regime, and, as a result, ... An additional advantage of the shipyards in this region is the close proximity to …
1.5. Assessment of current trends and development prospects of the studied market
...
1.6. Assessment of factors affecting the market
Consider the main factors affecting the market and, accordingly, demand.
- Economic
India GDP
GDP is a macroeconomic indicator that reflects...
In 2015, which was the peak of the crisis in the state, the decline in GDP amounted to …% compared to the previous year of 2014, and since the dynamics of GDP is directly proportional to the well-being of citizens, this indicates a fall in …
In 2016, GDP stagnated, at the end of 2017, this indicator demonstrates …
...
In 2020, the decline in India's GDP, according to Rosstat, amounted to …%. This is the biggest drop in GDP since 2009, when the country's economy shrank by …%. According to Rosstat, the decline in GDP is mainly due to restrictive measures due to …
Chart 4. Dynamics of India's GDP, 2014–2021, % to the previous year
According to the Ministry of Economic Development of India, in 2021, GDP grew by …%, fully offsetting the decline in 2020. GDP growth compared to pre-pandemic 2019 amounted to …%.
According to the Ministry of Economic Development, the contribution to the economic recovery of India in 2021 was made by …
...
- Социальные
Population
During 2014–2017 India's population has shown a positive trend. However, in 2018 the vector has changed – …
The current demographic situation in India is characterized by natural population decline (since 2017), which is accelerating, and migration …
As of January 1, 2022, the resident population of India, according to the preliminary estimate of Rosstat, amounted to … million people, having decreased over the year by almost … thousand people. people (minus …%).
A more massive reduction was observed in India following the results of 2002, when the country's population decreased by … thousand people.
Overall, according to the cabinet's estimate, India's population will decline over the course of …
Rosstat predicts that the birth rate (the number of children per woman) will decrease from the current ... to ... by 2025.
Earlier, Rosstat published a demographic forecast until 2036. The most optimistic scenario assumes …
- technological
- ...
- Political
- ...
Completing the assessment of the factors affecting the market for the repair and maintenance of ships and boats, we will summarize the key ones in the framework of the STEP analysis.
According to the results of the performed STEP-analysis, macro-environment factors have a greater influence on the development of the market for the repair and maintenance of ships and boats.
Among the most negative factors in the market are…
Table 1. STEP analysis of factors influencing the ship and boat repair and maintenance market
1.7. Analysis of sectoral indicators of financial and economic activity
Financial and economic indicators of the industry of repair and maintenance of ships and boats are presented by GidMarket analysts according to Rosstat according to OKVED 2: (33.15) Repair and maintenance of ships and boats.
Data for 2021 is...
Throughout the study period, the gross profitability of the ship and boat repair and maintenance industry is ... the average profitability of all sectors of the economy.
According to GidMarket, in 2021, the gross margin of the industry amounted to …%, which is by … p.p. … the level of gross margin in all industries as a whole.
Profit before tax reflects the share of revenue that remained in the enterprise as profit before tax. Since 2018, the indicator in the field of repair and maintenance of ships and boats is not only ... average Indian, but also is in ...
...
Current liquidity characterizes the extent to which all short-term liabilities of the enterprise are secured by current assets. Shows how many rupees of current assets account for a unit of short-term liabilities.
The estimated indicator of current liquidity of a normally operating solvent legal entity should be ...
If the current ratio is greater than ..., this indicates that the company has ...
At the end of 2021, current liquidity in the field of repair and maintenance of ships and boats amounted to … times.
A more stringent liquidity criterion is the absolute liquidity ratio. It shows how much of short-term liabilities can be repaid immediately if necessary ...
For Indian companies, the normative value of the absolute liquidity ratio is within …
In the field of repair and maintenance of ships and boats, the absolute liquidity indicator is in the range of ... At the end of 2021, the indicator amounted to ... times.
Business activity in the field of repair and maintenance of ships and boats in 2020 increased to … days. days, which is … a trend. According to GidMarket, in 2021 the indicator of this financial ratio ... and amounted to ... days. days However, by 2017 the indicator …
The normative value of the equity ratio in …% was established by a decree of the Government of India.
The provision of own working capital in the field of repair and maintenance of ships and boats since 2018 … of the normative value, which indicates …
In general, the analysis of industry financial ratios in the field of repair and maintenance of ships and boats shows …
Part 2: Competitive Analysis in the Boat Repair and Maintenance Market in India
2.1. Major players in the market
Determining the main participants in the market for the repair and maintenance of ships and boats is complicated by the fact that some large enterprises, in addition to repair and maintenance, are also engaged in shipbuilding, publishing only the total revenue. Another part of the major players do not publish ...
Nevertheless, the enterprises belonging to the group of companies “…” (“…”) and the structure “…” (“…”) have the largest ship repair capacities. However, these enterprises are mainly involved in the implementation of …
2.2. Market shares of the largest competitors
According to GidMarket, as of 2021, JSC “…” is the largest operator of the ship and boat repair and maintenance market in India, occupying …% of the market.
JSC “…” accounts for …% of the market. JSC “…” occupies a share in …%. Rounding out the top five...
The ship and boat repair and maintenance market in India is characterized by … a level of concentration (a large number of operators with …). Mergers and acquisitions are allowed freely.
2.3. Profiles of major players
JSC ""…""
...
Table 5. Basic information about participant No. 1 of the ship and boat repair and maintenance market
...
Due to the fact that not all players publish revenue annually, the largest companies that regularly publish financial statements every year were taken to assess the dynamics. Among them:
...
Until 2020, the total revenue of the largest operators in the market for the repair and maintenance of ships and boats was declining, however, in 2021, according to GidMarket, there was …, and the revenue of enterprises …%, amounting to … billion Rs. The study of the dynamics of total revenue is indicative from the point of view of the analysis of growth trends.
Part 3. Analysis of the consumption of repair and maintenance of ships and boats
3.1. Estimation of consumption of repair and maintenance of ships and boats per capita
The volume of consumption of repair and maintenance of ships and boats per capita is calculated by GidMarket based on ...
Until 2019, the volume of consumption of services for the repair and maintenance of ships and boats per capita remains unchanged ... At the end of 2021, the volume of consumption amounted to … Rs./person, which is …% more than in 2020 and …% lower values 2017
3.2. Market Saturation and Estimated Market Potential in India
...
3.3. Description of consumer preferences
...
3.4. Price analysis
Consumer price indices in the ship and boat repair and maintenance market are determined taking into account price indices, …
In general, in India, in 2017-2022. price indices for repair and maintenance services of ships and boats are unchanged ... The maximum increase in the cost of services in the study period was noted in 20 ... - ...%.
The cost of repairing ships and boats is determined by the complexity of the work. The repair work itself is determined on the basis of a detailed inspection of the ship, marking defective places, measuring residual thicknesses, studying the technical passports of all ship equipment. The cost of work includes:
...
Various types of ship and boat repairs (current, routine, overhaul) are paid for by a partial prepayment for a small percentage (on average ...% of the cost of work), which is necessary in order for the shipyard to ...
Let's imagine the average prices for dock repairs of a vessel according to tenders held in 2021.
The highest average prices are noted in … the federal district – … mln Rs. and … – … million Rs.
At the same time, the most expensive purchase of ship dock repair works in the Far Eastern Federal District was dock repair … worth … million Rs. In the Northwestern Federal District - dock ...
Table 11. Average prices in the market for the repair and maintenance of ships and boats in the Union Territories, million Rs.
The lack of a unified pricing system is ... In addition to objective factors (geographical location), the cost of the same work differs greatly even by …
Part 4. Assessment of factors of investment attractiveness of the market
… the factors of the investment climate in the market for the repair and maintenance of ships and boats dominate over ... A comprehensive assessment of the factors of investment attractiveness is ... points - ... the investment climate. The evaluation is made from the point of view of the existing operator.
The most significant positive factors: ...
The most significant negative factors include: ...
Part 5. Forecast for the development of the market for the repair and maintenance of ships and boats until 2026
...
Part 6. Conclusions on the prospects of creating enterprises in the study area and recommendations for current market operators
...
Diagrams
Diagram 1. Dynamics of the volume of the market for the repair and maintenance of ships and boats, 2017–2021, billion Rs.
Diagram 2. Structure of the market for the repair and maintenance of ships and boats by type, 2021, %
Chart 3. Structure of the provision of repair and maintenance of ships and boats in India by Union Territories, 2020, %
Chart 4. Dynamics of India's GDP, 2014–2021, % to the previous year
Diagram 5. Monthly dynamics of the US dollar against the rupee, Rs. for 1 US dollar, 2017-Feb. 2022
Diagram 6. Population dynamics in India, as of 01 Jan. 2013–2022, million people
Chart 7. Dynamics of real incomes of the population of India, 2014–2021, %
Chart 8. Profitability before tax (profit of the reporting period) in the field of repair and maintenance of ships and boats in comparison with all sectors of the Indian economy, 2017-2021, %
Diagram 9. Current liquidity (total coverage) in the field of repair and maintenance of ships and boats for 2017–2021, times
Chart 10. Business activity (average receivables turnover period) in the field of repair and maintenance of ships and boats, for 2017–2021, days days
Chart 11. Financial sustainability (security of own working capital) in the field of repair and maintenance of ships and boats, in comparison with all sectors of the Indian economy, 2017-2021, %
Chart 12. Shares of the largest competitors in the ship and boat repair and maintenance market in 2021, %
Diagram 13. Dynamics of the total revenue of the largest operators in the market for the repair and maintenance of ships and boats (TOP-5) in India, 2017–2021, million Rs.
Chart 14. The volume of consumption of repair and maintenance of ships and boats per capita, 2017–2021, Rs./person
Diagram 15. Forecast of the size of the market for the repair and maintenance of ships and boats in 2022–2026, billion Rs.
Tables
Table 1. STEP analysis of factors influencing the ship and boat repair and maintenance market
Table 2. Gross margin of the ship and boat repair and maintenance industry compared to all sectors of the Indian economy, 2017-2021, %
Table 3. Absolute liquidity in the repair and maintenance of ships and boats in comparison with all sectors of the Indian economy, 2017-2021, times
Table 4. Main companies participating in the ship and boat repair and maintenance market in 2021
Table 5. Basic information about participant No. 1 of the ship and boat repair and maintenance market
Table 6. Basic information about participant No. 2 of the ship and boat repair and maintenance market
Table 7. Basic information about participant No. 3 of the ship and boat repair and maintenance market
Table 8. Basic information about participant No. 4 of the ship and boat repair and maintenance market
Table 9. Basic information about participant No. 5 of the ship and boat repair and maintenance market
Table 10. Consumer price indices in the ship and boat repair and maintenance market in India in 2017–2022, %
Table 11. Average prices in the market for the repair and maintenance of ships and boats in the Union Territories, million Rs.
Table 12. Assessment of factors of investment attractiveness of the market for the repair and maintenance of ships and boats
Table 13. Forecast indicators of the development of the Indian economy
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