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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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Niedersachsen Ports
Debut at the Port of Emden: Ship-to-Ship Refueling with LNG
โ€œFill Her Up, Please!โ€ Siem Confucius, a 200-Meter-Long Car Carrier, Is Taking on LNG Fuel From the 108-Meter-Long LNG Bunker Ship Engie Zeebrugge. Emden | 14. August 2020 It takes some eight hours for approximately 1500 metric tons of cryogenic (-163 degrees C) liquefied natural gas to transfer from ship to ship. The car carrier Siem Confucius had already called the Ems Quay in mid-June for loading vehicles at the Port ofโ€ฆ
12-21-2019 | Advertising, Media Consulting, โ€ฆ
HTF Market Intelligence Consulting Pvt. Ltd.
Ship Leasing Market Growth Scenario 2025 | Hamburg Commercial Bank, First Ship L โ€ฆ
A latest study released by HTF MI on Global Ship Leasing Market covering key business segments and wide scope geographies to get deep dive analysed market data. The study is a perfect balance bridging both qualitative and quantitative information of Ship Leasing market. The study provides historical data (i.e. Volume** & Value) from 2013 to 2018 and forecasted till 2025*. Some are the key & emerging players that are partโ€ฆ
05-24-2019 | Logistics & Transport
Eco Marine Power
Ship Solar Power System Installed on Large General Cargo Ship MV Panamana
Ship solar power system & associated equipment installed by crew whilst ship operated normally Fukuoka, Japan โ€“ 24th May 2019 โ€“ Eco Marine Power (EMP) is pleased to announce its Aquarius MAS + Solar solution has been installed on the large general cargo ship MV Panamana. This installation was carried out by the shipโ€™s crew with remote support provided by Zeaborn Ship Management (Singapore) Pte. Ltd. and EMP from Japan.โ€ฆ