According to Technavio, the global tugboats market size will increase by 259 units between 2020 and 2025. The market observed a YOY growth of 12.71% in 2021 and the growth momentum is expected to accelerate at a CAGR of 13.61% during the forecast period.
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Market Dynamics
The market is driven by the rise in global oil and natural gas demand. In addition, the construction and expansion of seaports and the increase in maritime trade and fleet size will have a positive impact on the growth of the tugboats market. However, the volatility in oil prices might hamper the growth of the market participants.
Competitive Analysis
The tugboats market report includes information on the product launches, sustainability, and prospects of leading 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, and Uzmar Shipbuilding and Trade Inc. The report includes the competitive analysis which analyzes and evaluates the position of companies based on their industry position score and market performance score. Some of the factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
The global tugboats market is fragmented and is highly competitive due to the presence of several vendors. Many of these vendors enjoy strong market positions as they have a vast geographical presence with respect to the tugboat and marine logistics businesses. The market is characterized by its capital-intensive nature because of the need for the vessels to incorporate advanced technologies. The key differentiating element in this market is the value-added services provided by the companies.
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Market Segmentation
Segmentation by Type
- By type, the market is classified into sea-going tugboats and river tugboats.
- The sea-going tugboats will have the largest share of the market.
- The sea going tugboats segment in the global tugboats market includes harbor tugboats and deep-sea tugboats.
- The demand for sea going tugboats is expected to increase with the rise in port expansion activities and oil drilling activities, as well as the increasing demand for larger container ships.
- Also, the increasing adoption of eco-friendly tugboats that are powered by liquefied natural gas (LNG), hydrogen gas, or electricity is expected to foster the growth of the segment.
Segmentation by Geography
- By geography, the market is classified as APAC, North America, Europe, MEA, and South America.
- APAC will have the largest share of the market.
- The increase in seaborne activities in countries such as the Philippines, Indonesia, and India are driving the demand for tugboats in APAC.
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Related Reports:
Tugboats Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 13.61% |
Market growth 2021-2025 |
259 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., 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, and Uzmar Shipbuilding and Trade 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 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
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 01: Parent market
- Exhibit 02: Market characteristics
- 2.2 Value chain analysis
- Exhibit 03: Value Chain Analysis: Non-military shipbuilding
3 Market Sizing
- 3.1 Market definition
- Exhibit 04: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 05: Market segments
- 3.4 Market outlook: Forecast for 2020 - 2025
- Exhibit 06: Global - Market size and forecast 2020 - 2025 (units)
- Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)
4 Five Forces Analysis
- 4.1 Five Forces Summary
- Exhibit 08: Five forces analysis 2020 & 2025
- 4.2 Bargaining power of buyers
- Exhibit 09: Bargaining power of buyers
- 4.3 Bargaining power of suppliers
- Exhibit 10: Bargaining power of suppliers
- 4.4 Threat of new entrants
- Exhibit 11: Threat of new entrants
- 4.5 Threat of substitutes
- Exhibit 12: Threat of substitutes
- 4.6 Threat of rivalry
- Exhibit 13: Threat of rivalry
- 4.7 Market condition
- Exhibit 14: Market condition - Five forces 2020
5 Market Segmentation by Type
- 5.1 Market segments
- Exhibit 15: Type - Market share 2020-2025 (%)
- 5.2 Comparison by Type
- Exhibit 16: Comparison by Type
- 5.3 Sea going tugboats - Market size and forecast 2020-2025
- Exhibit 17: Sea going tugboats - Market size and forecast 2020-2025 (units)
- Exhibit 18: Sea going tugboats - Year-over-year growth 2020-2025 (%)
- 5.4 River tugboats - Market size and forecast 2020-2025
- Exhibit 19: River tugboats - Market size and forecast 2020-2025 (units)
- Exhibit 20: River tugboats - Year-over-year growth 2020-2025 (%)
- 5.5 Market opportunity by Type
- Exhibit 21: Market opportunity by Type
6 Customer landscape
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 23: Market share by geography 2020-2025 (%)
- 7.2 Geographic comparison
- Exhibit 24: Geographic comparison
- 7.3 APAC - Market size and forecast 2020-2025
- Exhibit 25: APAC - Market size and forecast 2020-2025 (units)
- Exhibit 26: APAC - Year-over-year growth 2020-2025 (%)
- 7.4 North America - Market size and forecast 2020-2025
- Exhibit 27: North America - Market size and forecast 2020-2025 (units)
- Exhibit 28: North America - Year-over-year growth 2020-2025 (%)
- 7.5 Europe - Market size and forecast 2020-2025
- Exhibit 29: Europe - Market size and forecast 2020-2025 (units)
- Exhibit 30: Europe - Year-over-year growth 2020-2025 (%)
- 7.6 MEA - Market size and forecast 2020-2025
- Exhibit 31: MEA - Market size and forecast 2020-2025 (units)
- Exhibit 32: MEA - Year-over-year growth 2020-2025 (%)
- 7.7 South America - Market size and forecast 2020-2025
- Exhibit 33: South America - Market size and forecast 2020-2025 (units)
- Exhibit 34: South America - Year-over-year growth 2020-2025 (%)
- 7.8 Key leading countries
- Exhibit 35: Key leading countries
- 7.9 Market opportunity by geography
- Exhibit 36: Market opportunity by geography
8 Drivers, Challenges, and Trends
- 8.2 Market challenges
- Exhibit 37: Impact of drivers and challenges
9 Vendor Landscape
- 9.2 Vendor landscape
- Exhibit 38: Vendor landscape
- 9.3 Landscape disruption
- Exhibit 39: Landscape disruption
- Exhibit 40: Industry risks
10 Vendor Analysis
- 10.2 Market positioning of vendors
- Exhibit 42: Market positioning of vendors
- 10.3 Cheoy Lee Shipyards Ltd.
- Exhibit 43: Cheoy Lee Shipyards Ltd. - Overview
- Exhibit 44: Cheoy Lee Shipyards Ltd. - Product and service
- Exhibit 45: Cheoy Lee Shipyards Ltd. - Key offerings
- 10.4 Damen Shipyards Group NV
- Exhibit 46: Damen Shipyards Group NV - Overview
- Exhibit 47: Damen Shipyards Group NV - Product and service
- Exhibit 48: Damen Shipyards Group NV – Key news
- Exhibit 49: Damen Shipyards Group NV - Key offerings
- 10.5 Duclos Corp.
- Exhibit 50: Duclos Corp. - Overview
- Exhibit 51: Duclos Corp. - Product and service
- Exhibit 52: Duclos Corp. - Key offerings
- 10.6 Eastern Shipbuilding Group Inc.
- Exhibit 53: Eastern Shipbuilding Group Inc. - Overview
- Exhibit 54: Eastern Shipbuilding Group Inc. - Product and service
- Exhibit 55: Eastern Shipbuilding Group Inc. – Key news
- Exhibit 56: Eastern Shipbuilding Group Inc. - Key offerings
- 10.7 Fr. Fassmer GmbH and Co. KG
- Exhibit 57: Fr. Fassmer GmbH and Co. KG - Overview
- Exhibit 58: Fr. Fassmer GmbH and Co. KG - Product and service
- Exhibit 59: Fr. Fassmer GmbH and Co. KG - Key offerings
- 10.8 Jiangsu Zhenjiang Shipyard Co. Ltd.
- Exhibit 60: Jiangsu Zhenjiang Shipyard Co. Ltd. - Overview
- Exhibit 61: Jiangsu Zhenjiang Shipyard Co. Ltd. - Product and service
- Exhibit 62: Jiangsu Zhenjiang Shipyard Co. Ltd. – Key news
- Exhibit 63: Jiangsu Zhenjiang Shipyard Co. Ltd. - Key offerings
- 10.9 Med Marine AS
- Exhibit 64: Med Marine AS - Overview
- Exhibit 65: Med Marine AS - Product and service
- Exhibit 66: Med Marine AS - Key offerings
- 10.10 Nichols Brothers Boat Builders
- Exhibit 67: Nichols Brothers Boat Builders - Overview
- Exhibit 68: Nichols Brothers Boat Builders - Product and service
- Exhibit 69: Nichols Brothers Boat Builders - Key offerings
- 10.11 Sanmar Denizcilik AS
- Exhibit 70: Sanmar Denizcilik AS - Overview
- Exhibit 71: Sanmar Denizcilik AS - Product and service
- Exhibit 72: Sanmar Denizcilik AS - Key offerings
- 10.12 Uzmar Shipbuilding and Trade Inc.
- Exhibit 73: Uzmar Shipbuilding and Trade Inc. - Overview
- Exhibit 74: Uzmar Shipbuilding and Trade Inc. - Product and service
- Exhibit 75: Uzmar Shipbuilding and Trade Inc. – Key news
- Exhibit 76: Uzmar Shipbuilding and Trade Inc. - Key offerings
11 Appendix
- 11.2 Currency conversion rates for US$
- Exhibit 77: Currency conversion rates for US$
- 11.3 Research methodology
- Exhibit 78: Research Methodology
- Exhibit 79: Validation techniques employed for market sizing
- Exhibit 80: Information sources
- 11.4 List of abbreviations
- Exhibit 81: List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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