Tugboats services market size to grow by USD 2,720.79 million; Driven by continuous advancements in the maritime sector - Technavio

NEW YORK, Feb. 14, 2023 /PRNewswire/ — The tugboats services market size is forecast to increase by USD 2720.79 million from 2022 to 2027, at a CAGR of 14.28%, according to the recent market study by Technavio. The report includes historic market data from 2017 to 2021. In 2017, the market was valued at USD 1,727.24 million. The growth of the market will be driven by the increase in maritime trade and fleet size, continuous advancements in the maritime sector, and the construction and expansion of seaports. Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download The Sample Report

Technavio has extensively analyzed 15 major vendors, including ABB Ltd., BOLUDA CORPORACION MARITIMA S.L., Damen Shipyards Group, FM Global Logistics Sdn Bhd, Fremont Tugboat Co. Inc., Haven Shipping FZE, John Swire and Sons Ltd., KOTUG, Moran Towing Corp., NAIKAI TUG BOAT SERVICE Co. Ltd., Norfolk Tug Co., P and O Maritime Logistics, Pacific Maritime Group Inc., Qatar Navigation QPSC, Sanmar Denizcilik AS, SEACOR Marine Holdings Inc., Tidewater Inc., Whitesea Shipping and Supply LLC FZC, YILDIRIM HOLDING INC., and Gulf Agency Co. Ltd.

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Key Benefits for Industry Players & Stakeholders –

The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
It also provides detailed analyses of the market’s competitive landscape and vendors’ product offerings.
The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

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Customer Landscape – Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria by Technavio

One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage.
Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.
Furthermore, market adoption rates for all regions have been covered.

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The market is segmented by application (commercial and military), power rating (less than 1000 HP, between 1000 and 2000 HP, between 2000 and 5000 HP, and more than 5000 HP), and geography (North America, Europe, APAC, South America, and Middle East and Africa).

Segmentation by Application (Inclusion/Exclusion)

The market growth in the commercial segment will be significant during the forecast period. The segment is driven by the increased demand for commercial tugboat services in dredging operations, bunkering ships, transferring liquid products between berths, and cargo operations.

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What are the key data covered in this tugboats services market report?

CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the tugboats services market between 2023 and 2027
Precise estimation of the size of the tugboats services market size and its contribution to the market in focus on the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the tugboats services market industry across North America, Europe, APAC, South America, and Middle East and Africa
A thorough analysis of the market’s competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of tugboats services market vendors

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Tugboats Services Market Scope
Report Coverage	Details
Page number	160
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 14.28%
Market growth 2023-2027	USD 2720.79 million
Market structure	Fragmented
YoY growth 2022-2023 (%)	13.2
Regional analysis	North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution	North America at 33%
Key countries	US, China, Japan, India, and Germany
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	ABB Ltd., BOLUDA CORPORACION MARITIMA S.L., Damen Shipyards Group, FM Global Logistics Sdn Bhd, Fremont Tugboat Co. Inc., Haven Shipping FZE, John Swire and Sons Ltd., KOTUG, Moran Towing Corp., NAIKAI TUG BOAT SERVICE Co. Ltd., Norfolk Tug Co., P and O Maritime Logistics, Pacific Maritime Group Inc., Qatar Navigation QPSC, Sanmar Denizcilik AS, SEACOR Marine Holdings Inc., Tidewater Inc., Whitesea Shipping and Supply LLC FZC, YILDIRIM HOLDING INC., and Gulf Agency Co. Ltd.
Market dynamics	Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents:

1 Executive Summary

1.1 Market overview

Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
Exhibit 06: Executive Summary – Chart on Market Segmentation by Power Rating
Exhibit 07: Executive Summary – Chart on Incremental Growth
Exhibit 08: Executive Summary – Data Table on Incremental Growth
Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem

Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition

Exhibit 12: Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 13: Market segments

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)
Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

4.1 Global tugboats services market 2017 – 2021

Exhibit 18: Historic Market Size – Data Table on Global tugboats services market 2017 – 2021 ($ million)

4.2 Application Segment Analysis 2017 – 2021

Exhibit 19: Historic Market Size – Application Segment 2017 – 2021 ($ million)

4.3 Power Rating Segment Analysis 2017 – 2021

Exhibit 20: Historic Market Size – Power Rating Segment 2017 – 2021 ($ million)

4.4 Geography Segment Analysis 2017 – 2021

Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)

4.5 Country Segment Analysis 2017 – 2021

Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)

5 Five Forces Analysis

5.1 Five forces summary

Exhibit 23: Five forces analysis – Comparison between 2022 and 2027

5.2 Bargaining power of buyers

Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

5.3 Bargaining power of suppliers

Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

5.4 Threat of new entrants

Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

5.5 Threat of substitutes

Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

5.6 Threat of rivalry

Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

5.7 Market condition

Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Application

6.1 Market segments

Exhibit 30: Chart on Application – Market share 2022-2027 (%)
Exhibit 31: Data Table on Application – Market share 2022-2027 (%)

6.2 Comparison by Application

Exhibit 32: Chart on Comparison by Application
Exhibit 33: Data Table on Comparison by Application

6.3 Commercial – Market size and forecast 2022-2027

Exhibit 34: Chart on Commercial – Market size and forecast 2022-2027 ($ million)
Exhibit 35: Data Table on Commercial – Market size and forecast 2022-2027 ($ million)
Exhibit 36: Chart on Commercial – Year-over-year growth 2022-2027 (%)
Exhibit 37: Data Table on Commercial – Year-over-year growth 2022-2027 (%)

6.4 Military – Market size and forecast 2022-2027

Exhibit 38: Chart on Military – Market size and forecast 2022-2027 ($ million)
Exhibit 39: Data Table on Military – Market size and forecast 2022-2027 ($ million)
Exhibit 40: Chart on Military – Year-over-year growth 2022-2027 (%)
Exhibit 41: Data Table on Military – Year-over-year growth 2022-2027 (%)

6.5 Market opportunity by Application

Exhibit 42: Market opportunity by Application ($ million)

7 Market Segmentation by Power Rating

7.1 Market segments

Exhibit 43: Chart on Power Rating – Market share 2022-2027 (%)
Exhibit 44: Data Table on Power Rating – Market share 2022-2027 (%)

7.2 Comparison by Power Rating

Exhibit 45: Chart on Comparison by Power Rating
Exhibit 46: Data Table on Comparison by Power Rating

7.3 Less than 1000 HP – Market size and forecast 2022-2027

Exhibit 47: Chart on Less than 1000 HP – Market size and forecast 2022-2027 ($ million)
Exhibit 48: Data Table on Less than 1000 HP – Market size and forecast 2022-2027 ($ million)
Exhibit 49: Chart on Less than 1000 HP – Year-over-year growth 2022-2027 (%)
Exhibit 50: Data Table on Less than 1000 HP – Year-over-year growth 2022-2027 (%)

7.4 Between 1000 and 2000 HP – Market size and forecast 2022-2027

Exhibit 51: Chart on Between 1000 and 2000 HP – Market size and forecast 2022-2027 ($ million)
Exhibit 52: Data Table on Between 1000 and 2000 HP – Market size and forecast 2022-2027 ($ million)
Exhibit 53: Chart on Between 1000 and 2000 HP – Year-over-year growth 2022-2027 (%)
Exhibit 54: Data Table on Between 1000 and 2000 HP – Year-over-year growth 2022-2027 (%)

7.5 Between 2000 and 5000 HP – Market size and forecast 2022-2027

Exhibit 55: Chart on Between 2000 and 5000 HP – Market size and forecast 2022-2027 ($ million)
Exhibit 56: Data Table on Between 2000 and 5000 HP – Market size and forecast 2022-2027 ($ million)
Exhibit 57: Chart on Between 2000 and 5000 HP – Year-over-year growth 2022-2027 (%)
Exhibit 58: Data Table on Between 2000 and 5000 HP – Year-over-year growth 2022-2027 (%)

7.6 More than 5000 HP – Market size and forecast 2022-2027

Exhibit 59: Chart on More than 5000 HP – Market size and forecast 2022-2027 ($ million)
Exhibit 60: Data Table on More than 5000 HP – Market size and forecast 2022-2027 ($ million)
Exhibit 61: Chart on More than 5000 HP – Year-over-year growth 2022-2027 (%)
Exhibit 62: Data Table on More than 5000 HP – Year-over-year growth 2022-2027 (%)

7.7 Market opportunity by Power Rating

Exhibit 63: Market opportunity by Power Rating ($ million)

8 Customer Landscape

8.1 Customer landscape overview

Exhibit 64: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation

Exhibit 65: Chart on Market share by geography 2022-2027 (%)
Exhibit 66: Data Table on Market share by geography 2022-2027 (%)

9.2 Geographic comparison

Exhibit 67: Chart on Geographic comparison
Exhibit 68: Data Table on Geographic comparison

9.3 North America – Market size and forecast 2022-2027

Exhibit 69: Chart on North America – Market size and forecast 2022-2027 ($ million)
Exhibit 70: Data Table on North America – Market size and forecast 2022-2027 ($ million)
Exhibit 71: Chart on North America – Year-over-year growth 2022-2027 (%)
Exhibit 72: Data Table on North America – Year-over-year growth 2022-2027 (%)

9.4 Europe – Market size and forecast 2022-2027

Exhibit 73: Chart on Europe – Market size and forecast 2022-2027 ($ million)
Exhibit 74: Data Table on Europe – Market size and forecast 2022-2027 ($ million)
Exhibit 75: Chart on Europe – Year-over-year growth 2022-2027 (%)
Exhibit 76: Data Table on Europe – Year-over-year growth 2022-2027 (%)

9.5 APAC – Market size and forecast 2022-2027

Exhibit 77: Chart on APAC – Market size and forecast 2022-2027 ($ million)
Exhibit 78: Data Table on APAC – Market size and forecast 2022-2027 ($ million)
Exhibit 79: Chart on APAC – Year-over-year growth 2022-2027 (%)
Exhibit 80: Data Table on APAC – Year-over-year growth 2022-2027 (%)

9.6 South America – Market size and forecast 2022-2027

Exhibit 81: Chart on South America – Market size and forecast 2022-2027 ($ million)
Exhibit 82: Data Table on South America – Market size and forecast 2022-2027 ($ million)
Exhibit 83: Chart on South America – Year-over-year growth 2022-2027 (%)
Exhibit 84: Data Table on South America – Year-over-year growth 2022-2027 (%)

9.7 Middle East and Africa – Market size and forecast 2022-2027

Exhibit 85: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
Exhibit 86: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
Exhibit 87: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
Exhibit 88: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)

9.8 China – Market size and forecast 2022-2027

Exhibit 89: Chart on China – Market size and forecast 2022-2027 ($ million)
Exhibit 90: Data Table on China – Market size and forecast 2022-2027 ($ million)
Exhibit 91: Chart on China – Year-over-year growth 2022-2027 (%)
Exhibit 92: Data Table on China – Year-over-year growth 2022-2027 (%)

9.9 US – Market size and forecast 2022-2027

Exhibit 93: Chart on US – Market size and forecast 2022-2027 ($ million)
Exhibit 94: Data Table on US – Market size and forecast 2022-2027 ($ million)
Exhibit 95: Chart on US – Year-over-year growth 2022-2027 (%)
Exhibit 96: Data Table on US – Year-over-year growth 2022-2027 (%)

9.10 Japan – Market size and forecast 2022-2027

Exhibit 97: Chart on Japan – Market size and forecast 2022-2027 ($ million)
Exhibit 98: Data Table on Japan – Market size and forecast 2022-2027 ($ million)
Exhibit 99: Chart on Japan – Year-over-year growth 2022-2027 (%)
Exhibit 100: Data Table on Japan – Year-over-year growth 2022-2027 (%)

9.11 India – Market size and forecast 2022-2027

Exhibit 101: Chart on India – Market size and forecast 2022-2027 ($ million)
Exhibit 102: Data Table on India – Market size and forecast 2022-2027 ($ million)
Exhibit 103: Chart on India – Year-over-year growth 2022-2027 (%)
Exhibit 104: Data Table on India – Year-over-year growth 2022-2027 (%)

9.12 Germany – Market size and forecast 2022-2027

Exhibit 105: Chart on Germany – Market size and forecast 2022-2027 ($ million)
Exhibit 106: Data Table on Germany – Market size and forecast 2022-2027 ($ million)
Exhibit 107: Chart on Germany – Year-over-year growth 2022-2027 (%)
Exhibit 108: Data Table on Germany – Year-over-year growth 2022-2027 (%)

9.13 Market opportunity by geography

Exhibit 109: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

Exhibit 110: Impact of drivers and challenges in 2022 and 2027

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

Exhibit 111: Overview on Criticality of inputs and Factors of differentiation

11.3 Landscape disruption

Exhibit 112: Overview on factors of disruption

11.4 Industry risks

Exhibit 113: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered

Exhibit 114: Vendors covered

12.2 Market positioning of vendors

Exhibit 115: Matrix on vendor position and classification

12.3 ABB Ltd.

Exhibit 116: ABB Ltd. – Overview
Exhibit 117: ABB Ltd. – Business segments
Exhibit 118: ABB Ltd. – Key news
Exhibit 119: ABB Ltd. – Key offerings
Exhibit 120: ABB Ltd. – Segment focus

12.4 BOLUDA CORPORACION MARITIMA S.L.

Exhibit 121: BOLUDA CORPORACION MARITIMA S.L. – Overview
Exhibit 122: BOLUDA CORPORACION MARITIMA S.L. – Product / Service
Exhibit 123: BOLUDA CORPORACION MARITIMA S.L. – Key news
Exhibit 124: BOLUDA CORPORACION MARITIMA S.L. – Key offerings

12.5 FM Global Logistics Sdn Bhd

Exhibit 125: FM Global Logistics Sdn Bhd – Overview
Exhibit 126: FM Global Logistics Sdn Bhd – Product / Service
Exhibit 127: FM Global Logistics Sdn Bhd – Key offerings

12.6 Fremont Tugboat Co. Inc.

Exhibit 128: Fremont Tugboat Co. Inc. – Overview
Exhibit 129: Fremont Tugboat Co. Inc. – Product / Service
Exhibit 130: Fremont Tugboat Co. Inc. – Key offerings

12.7 Gulf Agency Co. Ltd.

Exhibit 131: Gulf Agency Co. Ltd. – Overview
Exhibit 132: Gulf Agency Co. Ltd. – Product / Service
Exhibit 133: Gulf Agency Co. Ltd. – Key news
Exhibit 134: Gulf Agency Co. Ltd. – Key offerings

12.8 Haven Shipping FZE

Exhibit 135: Haven Shipping FZE – Overview
Exhibit 136: Haven Shipping FZE – Product / Service
Exhibit 137: Haven Shipping FZE – Key offerings

12.9 KOTUG

Exhibit 138: KOTUG – Overview
Exhibit 139: KOTUG – Product / Service
Exhibit 140: KOTUG – Key offerings

12.10 Moran Towing Corp.

Exhibit 141: Moran Towing Corp. – Overview
Exhibit 142: Moran Towing Corp. – Product / Service
Exhibit 143: Moran Towing Corp. – Key offerings

12.11 NAIKAI TUG BOAT SERVICE Co. Ltd.

Exhibit 144: NAIKAI TUG BOAT SERVICE Co. Ltd. – Overview
Exhibit 145: NAIKAI TUG BOAT SERVICE Co. Ltd. – Product / Service
Exhibit 146: NAIKAI TUG BOAT SERVICE Co. Ltd. – Key offerings

12.12 Norfolk Tug Co.

Exhibit 147: Norfolk Tug Co. – Overview
Exhibit 148: Norfolk Tug Co. – Product / Service
Exhibit 149: Norfolk Tug Co. – Key offerings

12.13 P and O Maritime Logistics

Exhibit 150: P and O Maritime Logistics – Overview
Exhibit 151: P and O Maritime Logistics – Product / Service
Exhibit 152: P and O Maritime Logistics – Key offerings

12.14 Pacific Maritime Group Inc.

Exhibit 153: Pacific Maritime Group Inc. – Overview
Exhibit 154: Pacific Maritime Group Inc. – Product / Service
Exhibit 155: Pacific Maritime Group Inc. – Key offerings

12.15 Qatar Navigation QPSC

Exhibit 156: Qatar Navigation QPSC – Overview
Exhibit 157: Qatar Navigation QPSC – Business segments
Exhibit 158: Qatar Navigation QPSC – Key offerings
Exhibit 159: Qatar Navigation QPSC – Segment focus

12.16 Sanmar Denizcilik AS

Exhibit 160: Sanmar Denizcilik AS – Overview
Exhibit 161: Sanmar Denizcilik AS – Product / Service
Exhibit 162: Sanmar Denizcilik AS – Key offerings

12.17 SEACOR Marine Holdings Inc.

Exhibit 163: SEACOR Marine Holdings Inc. – Overview
Exhibit 164: SEACOR Marine Holdings Inc. – Business segments
Exhibit 165: SEACOR Marine Holdings Inc. – Key offerings
Exhibit 166: SEACOR Marine Holdings Inc. – Segment focus

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

Exhibit 167: Inclusions checklist
Exhibit 168: Exclusions checklist

13.3 Currency conversion rates for US$

Exhibit 169: Currency conversion rates for US$

13.4 Research methodology

Exhibit 170: Research methodology
Exhibit 171: Validation techniques employed for market sizing
Exhibit 172: Information sources

13.5 List of abbreviations

Exhibit 173: List of abbreviations

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