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Tugboats Market to Exhibit CAGR of 15.3% by 2032; Key Developments in Autonomous Tugboat to Drive the Market Growth: Fortune Business Insightsโ„ข

10-07-2024 11:09 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Fortune Business Insights

Tugboats Market

Tugboats Market

The global tugboats market was valued at USD 19.17 billion in 2023 and is expected to grow from USD 23.81 billion in 2024 to USD 74.29 billion by 2032, reflecting a CAGR of 15.3% during the forecast period. In 2023, North America held the largest market share, accounting for 34.9% of the tugboats market.

The tugboats market plays a crucial role in the maritime industry, providing essential support services for the safe and efficient movement of ships in ports and harbors. Tugboats are highly maneuverable vessels used to assist larger ships during docking, undocking, and navigating narrow or congested waterways. With the expansion of global trade and the increasing size of commercial vessels, the demand for tugboats is expected to grow significantly. This market is characterized by advancements in technology, such as the integration of automation and enhanced fuel efficiency, which improve operational effectiveness and reduce environmental impact. As ports modernize and expand their capacities to accommodate larger vessels, the tugboats market is likely to see sustained growth, driven by both new construction and the upgrading of existing fleets.

๐…๐จ๐ซ๐ญ๐ฎ๐ง๐ž ๐๐ฎ๐ฌ๐ข๐ง๐ž๐ฌ๐ฌ ๐ˆ๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌโ„ข ๐ฆ๐ž๐ง๐ญ๐ข๐จ๐ง๐ž๐ ๐ญ๐ก๐ข๐ฌ ๐ข๐ง ๐š ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ ๐ญ๐ข๐ญ๐ฅ๐ž๐ "๐“๐ฎ๐ ๐›๐จ๐š๐ญ๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐’๐ข๐ณ๐ž, ๐’๐ก๐š๐ซ๐ž ๐š๐ง๐ ๐…๐จ๐ซ๐ž๐œ๐š๐ฌ๐ญ ๐Ÿ๐ŸŽ๐Ÿ๐Ÿ’-๐Ÿ๐ŸŽ๐Ÿ‘๐Ÿ."

๐†๐ž๐ญ ๐€ ๐…๐ซ๐ž๐ž ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐๐ƒ๐… ๐๐ซ๐จ๐œ๐ก๐ฎ๐ซ๐ž:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/tugboats-market-108157

๐‹๐ข๐ฌ๐ญ ๐จ๐Ÿ ๐Š๐ž๐ฒ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ ๐๐ซ๐จ๐Ÿ๐ข๐ฅ๐ž๐ ๐ข๐ง ๐ญ๐ก๐ž ๐‘๐ž๐ฉ๐จ๐ซ๐ญ:
โ€ข AMSBACH MARINE (S) PTE LTD (Singapore)
โ€ข SYM Naval (Spain)
โ€ข Cheoy Lee Shipyards Ltd (Hong Kong)
โ€ข Crowley Holdings Inc (U.S.)
โ€ข Damen Shipyards Group NV (Netherlands)
โ€ข DSB OFFSHORE LTD (U.K.)
โ€ข Duclos Corp (U.S.)
โ€ข Eastern Shipbuilding Group Inc (U.S.)
โ€ข Swire Pacific Group (U.K.)

๐‚๐Ž๐•๐ˆ๐ƒ-๐Ÿ๐Ÿ— ๐ˆ๐ฆ๐ฉ๐š๐œ๐ญ:
๐๐š๐ง๐๐ž๐ฆ๐ข๐œ ๐๐ž๐ ๐š๐ญ๐ข๐ฏ๐ž๐ฅ๐ฒ ๐ˆ๐ฆ๐ฉ๐š๐œ๐ญ๐ž๐ ๐ญ๐ก๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐ƒ๐ฎ๐ž ๐ญ๐จ ๐‘๐ž๐ฌ๐ญ๐ซ๐ข๐œ๐ญ๐ข๐จ๐ง๐ฌ ๐จ๐ง ๐Œ๐š๐ซ๐ข๐ญ๐ข๐ฆ๐ž ๐“๐ซ๐š๐๐ž ๐€๐œ๐ญ๐ข๐ฏ๐ข๐ญ๐ข๐ž๐ฌ
The COVID-19 outbreak has impacted market growth negatively by halting various types of work, such as repair, shipbuilding, and maintenance work, directly impacting the tugboats market growth. Due to shortages of raw materials, disruptions in supply chains, and contract terminations, the market faced a downfall and affected the market growth.

๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ๐ฌ:
๐“๐จ๐ฐ๐ข๐ง๐  ๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ ๐ญ๐จ ๐ƒ๐จ๐ฆ๐ข๐ง๐š๐ญ๐ž ๐๐ฎ๐ž ๐ญ๐จ ๐ˆ๐ง๐œ๐ซ๐ž๐š๐ฌ๐ž๐ ๐”๐ฌ๐ž ๐จ๐Ÿ ๐‹๐š๐ซ๐ ๐ž ๐•๐ž๐ฌ๐ฌ๐ž๐ฅ๐ฌ ๐ข๐ง ๐‚๐จ๐ง๐Ÿ๐ข๐ง๐ž๐ ๐ˆ๐ง๐Ÿ๐ซ๐š๐ฌ๐ญ๐ซ๐ฎ๐œ๐ญ๐ฎ๐ซ๐ž
On the basis of application, the market is segmented into ice breaker, patrolling, search & rescue, towing, and others.
Towing segment is anticipated to dominate the tugboats market share during the forecast period owing to rise in maritime trade, which has limited space for mobility and port infrastructure. To avoid accidents, there has been a rise in towing activities; hence, the segment is expected to grow during the projected period.

๐‚๐จ๐ง๐ฏ๐ž๐ง๐ญ๐ข๐จ๐ง๐š๐ฅ ๐“๐ฎ๐  ๐ญ๐จ ๐ƒ๐จ๐ฆ๐ข๐ง๐š๐ญ๐ž ๐๐ฎ๐ž ๐ญ๐จ ๐’๐ฎ๐ซ๐ ๐ž๐ ๐•๐ž๐ซ๐ฌ๐š๐ญ๐ข๐ฅ๐ข๐ญ๐ฒ ๐š๐ง๐ ๐€๐๐š๐ฉ๐ญ๐š๐›๐ข๐ฅ๐ข๐ญ๐ฒ ๐ข๐ง ๐๐ฎ๐ฌ๐ฒ ๐๐จ๐ซ๐ญ๐ฌ
Based on type, the market is segmented into conventional tug, tractor tug, azimuth stern drive tug, reverse tractor tug, and others.
The conventional tug segment led the market in 2022 and is anticipated to continue its dominance during the forecast period as it has the ability to handle a wide range of tasks at a time such as offshore operations and assisting large ships.

๐Ÿ๐ŸŽ๐ŸŽ๐ŸŽ ๐ญ๐จ ๐Ÿ๐ŸŽ๐ŸŽ๐ŸŽ ๐ค๐– ๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ ๐ญ๐จ ๐‹๐ž๐š๐ ๐จ๐ฐ๐ข๐ง๐  ๐ญ๐จ ๐„๐Ÿ๐Ÿ๐ข๐œ๐ข๐ž๐ง๐ญ ๐š๐ง๐ ๐‚๐จ๐ฆ๐ฉ๐š๐œ๐ญ ๐“๐ฎ๐ ๐ฌ
By capacity, the market is segmented into upto 1000 kW, 1000 to 2000 kW, 2000 to 3000 kW, and above 3000 kW.
The 1000 to 2000 kW segment led the market in 2022. The dominance of the segment is due to the rise in demand for efficient towboats connected with compact engine size for improved performance.
Geographically, the market is divided into regions such as North America, Europe, Asia Pacific, and the Rest of the World.

๐†๐ž๐ญ ๐š ๐๐ฎ๐จ๐ญ๐ž ๐๐จ๐ฐ:
https://www.fortunebusinessinsights.com/enquiry/get-a-quote/tugboats-market-108157

๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐‚๐จ๐ฏ๐ž๐ซ๐š๐ ๐ž
The report offers an in-depth analysis of the leading market segments and the most recent trends. It thoroughly explores the factors driving and impeding market growth, while also assessing the influence of the COVID-19 pandemic. Furthermore, the report delves into regional advancements and scrutinizes the strategies employed by key players in the market.

๐ƒ๐ซ๐ข๐ฏ๐ž๐ซ๐ฌ & ๐‘๐ž๐ฌ๐ญ๐ซ๐š๐ข๐ง๐ญ๐ฌ:
๐ˆ๐ง๐œ๐ซ๐ž๐š๐ฌ๐ข๐ง๐  ๐๐จ๐ซ๐ญ ๐‚๐จ๐ง๐ ๐ž๐ฌ๐ญ๐ข๐จ๐ง ๐๐ฎ๐ž ๐ญ๐จ ๐„๐ฑ๐ฉ๐š๐ง๐ฌ๐ข๐จ๐ง ๐จ๐Ÿ ๐ˆ๐ง๐ญ๐ž๐ซ๐ง๐š๐ญ๐ข๐จ๐ง๐š๐ฅ ๐’๐ฎ๐ฉ๐ฉ๐ฅ๐ฒ ๐‚๐ก๐š๐ข๐ง๐ฌ ๐ญ๐จ ๐€๐ฎ๐ ๐ฆ๐ž๐ง๐ญ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐†๐ซ๐จ๐ฐ๐ญ๐ก
The maritime industry has witnessed substantial growth in the market owing to the rise in global trade, driven by economic growth, just-in-time logistics, expansion of international supply chains, and increased consumer demand.
Strict regulations imposed on the environment and high operational cost to restrict the market growth of tugboats.

๐ƒ๐ซ๐ข๐ฏ๐ž๐ซ๐ฌ & ๐‘๐ž๐ฌ๐ญ๐ซ๐š๐ข๐ง๐ญ๐ฌ:
๐ˆ๐ง๐œ๐ซ๐ž๐š๐ฌ๐ข๐ง๐  ๐๐จ๐ซ๐ญ ๐‚๐จ๐ง๐ ๐ž๐ฌ๐ญ๐ข๐จ๐ง ๐๐ฎ๐ž ๐ญ๐จ ๐„๐ฑ๐ฉ๐š๐ง๐ฌ๐ข๐จ๐ง ๐จ๐Ÿ ๐ˆ๐ง๐ญ๐ž๐ซ๐ง๐š๐ญ๐ข๐จ๐ง๐š๐ฅ ๐’๐ฎ๐ฉ๐ฉ๐ฅ๐ฒ ๐‚๐ก๐š๐ข๐ง๐ฌ ๐ญ๐จ ๐€๐ฎ๐ ๐ฆ๐ž๐ง๐ญ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐†๐ซ๐จ๐ฐ๐ญ๐ก
North America held the dominant market share in 2022 and is anticipated to continue its dominance owing to increasing demand for tugboats due to rise in offshore energy projects, robust maritime trade, and development in the cruise industry.
Europe, on the second-position, dominated the market share in 2022, owing to several substantial ports managing various types of cargo.

๐€๐ฌ๐ค ๐Ÿ๐จ๐ซ ๐‚๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐š๐ญ๐ข๐จ๐ง:
https://www.fortunebusinessinsights.com/enquiry/ask-for-customization/tugboats-market-108157

๐‚๐จ๐ฆ๐ฉ๐ž๐ญ๐ข๐ญ๐ข๐ฏ๐ž ๐‹๐š๐ง๐๐ฌ๐œ๐š๐ฉ๐ž:
๐ˆ๐ง๐œ๐ซ๐ž๐š๐ฌ๐ข๐ง๐  ๐…๐จ๐œ๐ฎ๐ฌ ๐จ๐Ÿ ๐Š๐ž๐ฒ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ ๐ญ๐จ๐ฐ๐š๐ซ๐ ๐€๐ฎ๐ญ๐จ๐ฆ๐š๐ญ๐ข๐จ๐ง ๐š๐ง๐ ๐ƒ๐ข๐ ๐ข๐ญ๐š๐ฅ๐ข๐ณ๐š๐ญ๐ข๐จ๐ง ๐ญ๐จ ๐€๐ฎ๐ ๐ฆ๐ž๐ง๐ญ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐†๐ซ๐จ๐ฐ๐ญ๐ก
The prominent players in the market include Cheoy Lee Shipyards Ltd., AMSBACH MARINE (S) PTE LTD., Crowley Holdings Inc., BOURBON Maritime Services, Duclos Corp, Damen Shipyards Group NV, Eastern Shipbuilding Group Inc., and DSB OFFSHORE LTD. They have rising focus on automation and digitalization to improve the performance of towboats and optimizing operations.

๐Š๐ž๐ฒ ๐ˆ๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐ƒ๐ž๐ฏ๐ž๐ฅ๐จ๐ฉ๐ฆ๐ž๐ง๐ญ:
โ€ข April 2022: The United States Army Corps of Engineers (USACE) announced that it awarded a USD 8.4 million contract for a temporary tug to service the Buffalo County repair crew. The ship will tow the buffalo county repair fleet; one of three fleets strategically positioned on the Great Lakes.

๐‘๐ž๐š๐ ๐‘๐ž๐ฅ๐š๐ญ๐ž๐ ๐ˆ๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ:
Ship Repair and Maintenance Services Market
https://www.fortunebusinessinsights.com/ship-repair-and-maintenance-services-market-105801

Simulator Market
https://www.fortunebusinessinsights.com/simulator-market-107016

Integrated Marine Automation System Market
https://www.fortunebusinessinsights.com/integrated-marine-automation-system-market-106580

๐€๐›๐จ๐ฎ๐ญ ๐”๐ฌ:
Fortune Business Insightsโ„ข offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

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๐€๐›๐จ๐ฎ๐ญ ๐”๐ฌ:
Fortune Business Insightsโ„ข offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

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LNG Bunkering Marketย ย  The LNG Bunkeringย market Report provides a detailed analysis of the LNG Bunkeringย industry. It provides an analysis of the past 5 years and a future forecast till the year 2024.It also studies the future market trends in the global market. It studies the market by the various parameters such as sales, volumes, and the revenues. It also gives us an insight in the LNG Bunkeringย industry and is also makingโ€ฆ
06-15-2018 | Logistics & Transport
LNG as a Bunker Fuel Market Report 2018
LNG as a Bunker Fuel Market Report 2018: Segmentation by Product (Truck to Ship โ€ฆ
Global LNG as a Bunker Fuel market research report provides company profile for Aker Philadelphia Shipyard, Ocean Tug & Barge Engineering, Fassmer Werft, Meyer Werft, Flensburger-Schiffbau-Gesellschaft, Meyer Turku, Chantier Davie, General Dynamics NASSCO, VT Halter Marine, Gulf Coast Shipyard Group and Others. This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in termsโ€ฆ
07-17-2017 | Advertising, Media Consulting, โ€ฆ
MarketResearchReports.biz
Global Shipbuilding Industry Market: By Types - Passenger Ship, Cargo Ship, Mili โ€ฆ
Latest industry research report on: Global Shipbuilding Industry Market | Industry Size, Share, Research, Reviews, Analysis, Strategies, Demand, Growth, Segmentation, Parameters, Forecasts Request For Sample Report @ https://www.marketresearchreports.biz/sample/sample/1231889 This report studies Shipbuilding Industry in Global market, especially in North America, China, Europe, Southeast Asia, Japan and India, with production, revenue, consumption, import and export in these regions, from 2012 to 2016, and forecast to 2022. This report focuses on top manufacturers in globalโ€ฆ