Tugboats Market by Type and Geography - Forecast and Analysis 2021-2025

  • Published: Mar 2021
  • Pages: 120
  • SKU: IRTNTR40019
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The tugboats market has the potential to grow by 259.00 units during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 13.61%.

This tugboats market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by type (sea-going tugboats and river tugboats) and geography (APAC, North America, Europe, MEA, and South America). The report also offers information on several market vendors, including Cheoy Lee Shipyards Ltd., Damen Shipyards Group NV, and Duclos Corp., among others.

What will the Tugboats Market Size be in 2021?

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Tugboats Market: Key Drivers and Trends

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The construction and expansion of seaports is notably driving the tugboats market growth, although factors such as volatility in oil prices may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the tugboats industry get your FREE report sample now.

  • With the expansion of existing ports and an increase in new port constructions, there is a rising demand for tugboats. 
  • Abu Dhabi Marine Services placed an order with Damen Shipyards Group for two tugboats, which will be used to support the expansion of Abu Dhabi Ports' deep-water port facility.
  • The ongoing port modernization and expansion activities in India and the commencement of the Tuas Terminal mega port in Singapore will also influence the demand for tugboats during the forecast period.
  • The development of autonomous tugboats is one of the key tugboat market trends.
  • Technological advances are driving the overall transportation industry toward automation, and the marine industry has also started adopting autonomous vessels.
  • Countries such as Germany, Japan, and Poland are also working on autonomous marine vessel concepts.
  • This will drive the adoption of autonomous concepts by tugboats manufacturers, which will subsequently drive market growth.

This tugboats market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Tugboats Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Cheoy Lee Shipyards Ltd.
  • Damen Shipyards Group NV
  • Duclos Corp.
  • Eastern Shipbuilding Group Inc.
  • Fr. Fassmer GmbH and Co. KG
  • Jiangsu Zhenjiang Shipyard Co. Ltd.
  • Med Marine AS
  • Nichols Brothers Boat Builders
  • Sanmar Denizcilik AS
  • Uzmar Shipbuilding and Trade Inc.

 

The tugboats market is fragmented and the vendors are deploying growth strategies such as M&A to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the tugboats market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Tugboats Market?

Tugboats-Market-Market-Share-by-Region-2020-2025

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37% of the market’s growth will originate from APAC during the forecast period. Indonesia is one of the key markets for tugboats in APAC. Market growth in this region will be slower than the growth of the market in MEA and South America.

The increase in seaborne trading and the expansion of ports will facilitate the tugboats market growth in APAC over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating Type Segments in the Tugboats Market?

Tugboats-Market-Market-Share-by-Type-2020-2025

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Tugboats assist ships in entering or leaving the ports, berthing, and unberthing operations, and icebreaking and navigating through narrow canals. With the rise in port expansion and oil drilling activities, the demand for sea-going tugboats will increase. In line with this factor, the sea going tugboats segment growth in the tugboats market is expected to be significant during the forecast period.

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the tugboats market size.

 

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What are the Key Factors Covered in this Tugboats Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive tugboats market growth during the next five years
  • Precise estimation of the tugboats market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the tugboats industry across APAC, North America, Europe, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of tugboats market vendors

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Tugboats Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 14%

Market growth 2021-2025

259.00 units

Market structure

Fragmented

YoY growth (%)

12.07

Regional analysis

APAC, North America, Europe, MEA, and South America

Performing market contribution

APAC at 37%

Key consumer countries

Indonesia, US, Russian Federation, The Netherlands, and The Philippines

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Cheoy Lee Shipyards Ltd., Damen Shipyards Group NV, Duclos Corp., Fr. Fassmer GmbH and Co. KG, Med Marine AS, Sanmar Denizcilik AS, Nichols Brothers Boat Builders, Uzmar Shipbuilding and Trade Inc., Jiangsu Zhenjiang Shipyard Co. Ltd., and Eastern Shipbuilding Group Inc.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for 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.

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The tugboats market growth will increase by $259.00 units during 2020-2025.
The tugboats market is expected to grow at a CAGR of 13.61% during 2020-2025.
Technavio has segmented the tugboats market by type (Sea going tugboats and River tugboats) and geographic (APAC, North America, Europe, MEA, and South America).
Cheoy Lee Shipyards Ltd., Damen Shipyards Group NV, Duclos Corp., Eastern Shipbuilding Group Inc., Fr. Fassmer GmbH and Co. KG, Jiangsu Zhenjiang Shipyard Co. Ltd., Med Marine AS, Nichols Brothers Boat Builders, Sanmar Denizcilik AS, Uzmar Shipbuilding and Trade Inc. are a few of the key vendors in the tugboats market.
APAC will register the highest growth rate of 36.68% among the other regions. Therefore, the tugboats market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
  • Indonesia
  • US
  • Russian Federation
  • The Netherlands
  • The Philippines
The key factors driving the tugboats market growth are:
  • Rise in global oil and natural gas demand
The tugboats market vendors should focus on grabbing business opportunities from the sea going tugboats segment as it accounted for the largest market share in the base year.
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