Tugboats Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Tugboats Market
The tugboats market size was valued at USD 19.17 billion in 2023, and the market is now projected to grow from USD 23.81 billion in 2024 to USD 74.29 billion by 2032, exhibiting a CAGR of 15.3% during the forecast period of 2024-2032.
COVID-19 was an unanticipated disastrous event that affected the production and trading circuits in the global market. During the COVID-19 crisis, we have not faced much of an issue in terms of Food and necessary medical needs as Maritime logistics is not much of a constraint. The stated factors significantly influenced the tugboat market. Other problems include having more or new concerns concerning raw materials’ availability, disruption of the supply chain, and cancellation of contracts. The pandemic also affected the sales of the tugs across different parts of the world and the tugboat market growth.
The international shipping industry evolved significantly in the extent of global trade mainly caused by factors such as just-in-time delivery, economic development, increased consumerism, and globalization of the supply chain. This has also been evidenced in situations such as congestion around the world specifically at the ports. This will imply that there will be more traffic thus demand more towing thus more demand for tugs. At the moment, most operators in the market are interested in increasing the efficiency of tugs by modernization and expansion in the market due to the rising demand. Concerns have been observed that the shipping industry has been experiencing the entry of big container ships and ULCVs that are capable of hauling hundreds and thousands of Standard TEUs. Tugs are very crucial when it comes to developing solutions to all of their problems and maneuvering through water channels. Everything considered, all these factors are set to aid the tugboats market share across the global locations.
Some of the major players in this market are anticipating the expansion of better and improved usage of Artificial Intelligence (AI) self/remotely operated machinery such as tugs. Exclusion or at least minimization of the human operators within the sensitive or rather risky zones at the time of towing is desirable in the light of safety and possible incidence of accidents.
Comprehensive Analysis of Tugboats Market
The segregation of the global tugboat market is discussed about its applications, types, and capacities and sheds light on a range of functional uses and technical characteristics. Basically, in terms of application, the types of tugboats include icebreakers, Search & Rescue boats, Patrol boats, Towboats, and Other Categories, which clearly show the versatile support tool in maritime defense. By type, the market comprises Conventional Tug, Tractor Tug, Azimuth Stern Drive Tug, Reverse Tractor Tug, and Other types, and based on the range of power needed for specific operations from Up to 1000 kW, 1000-2000 kW, 2000-3000 kW, and Above 300 level.
North America had the largest tugboat market share and was valued at USD 6.69 billion in 2023. An increase in maritime trade in the regions, offshore energy projects, and the growth of the cruise sector has greatly propelled the need for tugs in the region.
AMSBACH MARINE (S) PTE LTD (Singapore), SYM Naval (Spain), Cheoy Lee Shipyards Ltd (Hong Kong), Crowley Holdings Inc (U.S.), Damen Shipyards Group NV (Netherlands), DSB OFFSHORE LTD (U.K.), Duclos Corp (U.S.), Eastern Shipbuilding Group Inc (U.S.), Swire Pacific Group (U.K.), and Harmony Marine Shipbrokers (Malta) are some major players in this industry. These groups of companies who are leaders within the discipline offer a stage playing field for all their competitors as they guarantee increase and set requirements for the arena.
In February 2024, the first of two highly efficient, and eco-friendly escort tugs in the world joined the Sanmar Shipyards’ tugboat fleet and was delivered to Vancouver, Canada.
Segmentation Table
Global Tugboats Market Scope
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 15.3% from 2024 to 2032
Unit Value (USD Billion)
By Application
Ice Breaker
Search & Rescue
Patrolling
Towing
Others
By Type
Conventional Tug
Tractor Tug
Azimuth Stern Drive Tug
Reverse Tractor Tug
Others
By Capacity Upto 1000 kW
1000 to 2000 kW
2000 to 3000 kW
Above 3000 kW
By Region North America (By Application, Type, Capacity, and Country)
- U.S. (By Application)
- Canada (By Application)
Europe (By Application, Type, Capacity, and Country)
- U.K. (By Application)
- Russia (By Application)
- France (By Application)
- Germany (By Application)
- Netherlands (By Application)
- Rest of Europe (By Application)
Asia Pacific (By Application, Type, Capacity, and Country)
- China (By Application)
- India (By Application)
- Japan (By Application)
- South Korea (By Application)
- Indonesia (By Application)
- Rest of Asia Pacific (By Application)
Rest of the World (By Application, Type, Capacity, and Country)
- Middle East & Africa (By Application)
- Latin America (By Application)
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- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities and Trends
- 3.3. Impact of COVID-19
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Global Online Recruitment Technology Key Players Market Share/Ranking, 2022
- 5. Global Online Recruitment Technology Market Size Estimates and Forecasts, By Segments, 2019-2030
- 5.1. Key Findings
- 5.2. By Technology Type (USD)
- 5.2.1. Chatbot
- 5.2.2. Candidate Relationship Management Platform
- 5.2.3. Application Tracking System
- 5.2.4. Video Interviewing (AI-based)
- 5.3. By Job Type (USD)
- 5.3.1. Secretarial/Clerical
- 5.3.2. Accounting/Financial
- 5.3.3. Computing
- 5.3.4. Technical/Engineering
- 5.3.5. Professional/Managerial
- 5.3.6. Nursing/Medical/Care
- 5.3.7. Hotel/Catering
- 5.3.8. Sales/Marketing
- 5.3.9. Other Industrial/Blue Collar
- 5.4. By Region (USD)
- 5.4.1. North America
- 5.4.2. South America
- 5.4.3. Europe
- 5.4.4. Middle East & Africa
- 5.4.5. Asia Pacific
- 6. North America Online Recruitment Technology Market Size Estimates and Forecasts, By Segments, 2019-2030
- 6.1. Key Findings
- 6.2. By Technology Type (USD)
- 6.2.1. Chatbot
- 6.2.2. Candidate Relationship Management Platform
- 6.2.3. Application Tracking System
- 6.2.4. Video Interviewing (AI-based)
- 6.3. By Job Type (USD)
- 6.3.1. Secretarial/Clerical
- 6.3.2. Accounting/Financial
- 6.3.3. Computing
- 6.3.4. Technical/Engineering
- 6.3.5. Professional/Managerial
- 6.3.6. Nursing/Medical/Care
- 6.3.7. Hotel/Catering
- 6.3.8. Sales/Marketing
- 6.3.9. Other Industrial/Blue Collar
- 6.4. By Country (USD)
- 6.4.1. United States
- 6.4.1.1. By Job Type
- 6.4.2. Canada
- 6.4.2.1. By Job Type
- 6.4.3. Mexico
- 6.4.3.1. By Job Type
- 7. South America Online Recruitment Technology Market Size Estimates and Forecasts, By Segments, 2019-2030
- 7.1. Key Findings
- 7.2. By Technology Type (USD)
- 7.2.1. Chatbot
- 7.2.2. Candidate Relationship Management Platform
- 7.2.3. Application Tracking System
- 7.2.4. Video Interviewing (AI-based)
- 7.3. By Job Type (USD)
- 7.3.1. Secretarial/Clerical
- 7.3.2. Accounting/Financial
- 7.3.3. Computing
- 7.3.4. Technical/Engineering
- 7.3.5. Professional/Managerial
- 7.3.6. Nursing/Medical/Care
- 7.3.7. Hotel/Catering
- 7.3.8. Sales/Marketing
- 7.3.9. Other Industrial/Blue Collar
- 7.4. By Country (USD)
- 7.4.1. Brazil
- 7.4.1.1. By Job Type
- 7.4.2. Argentina
- 7.4.2.1. By Job Type
- 7.4.3. Rest of South America
- 8. Europe Online Recruitment Technology Market Size Estimates and Forecasts, By Segments, 2019-2030
- 8.1. Key Findings
- 8.2. By Technology Type (USD)
- 8.2.1. Chatbot
- 8.2.2. Candidate Relationship Management Platform
- 8.2.3. Application Tracking System
- 8.2.4. Video Interviewing (AI-based)
- 8.3. By Job Type (USD)
- 8.3.1. Secretarial/Clerical
- 8.3.2. Accounting/Financial
- 8.3.3. Computing
- 8.3.4. Technical/Engineering
- 8.3.5. Professional/Managerial
- 8.3.6. Nursing/Medical/Care
- 8.3.7. Hotel/Catering
- 8.3.8. Sales/Marketing
- 8.3.9. Other Industrial/Blue Collar
- 8.4. By Country (USD)
- 8.4.1. United Kingdom
- 8.4.1.1. By Job Type
- 8.4.2. Germany
- 8.4.2.1. By Job Type
- 8.4.3. France
- 8.4.3.1. By Job Type
- 8.4.4. Italy
- 8.4.4.1. By Job Type
- 8.4.5. Spain
- 8.4.5.1. By Job Type
- 8.4.6. Russia
- 8.4.6.1. By Job Type
- 8.4.7. Benelux
- 8.4.7.1. By Job Type
- 8.4.8. Nordics
- 8.4.8.1. By Job Type
- 8.4.9. Rest of Europe
- 9. Middle East & Africa Online Recruitment Technology Market Size Estimates and Forecasts, By Segments, 2019-2030
- 9.1. Key Findings
- 9.2. By Technology Type (USD)
- 9.2.1. Chatbot
- 9.2.2. Candidate Relationship Management Platform
- 9.2.3. Application Tracking System
- 9.2.4. Video Interviewing (AI-based)
- 9.3. By Job Type (USD)
- 9.3.1. Secretarial/Clerical
- 9.3.2. Accounting/Financial
- 9.3.3. Computing
- 9.3.4. Technical/Engineering
- 9.3.5. Professional/Managerial
- 9.3.6. Nursing/Medical/Care
- 9.3.7. Hotel/Catering
- 9.3.8. Sales/Marketing
- 9.3.9. Other Industrial/Blue Collar
- 9.4. By Country (USD)
- 9.4.1. Turkey
- 9.4.1.1. By Job Type
- 9.4.2. Israel
- 9.4.2.1. By Job Type
- 9.4.3. GCC
- 9.4.3.1. By Job Type
- 9.4.4. North Africa
- 9.4.4.1. By Job Type
- 9.4.5. South Africa
- 9.4.5.1. By Job Type
- 9.4.6. Rest of MEA
- 10. Asia Pacific Online Recruitment Technology Market Size Estimates and Forecasts, By Segments, 2019-2030
- 10.1. Key Findings
- 10.2. By Technology Type (USD)
- 10.2.1. Chatbot
- 10.2.2. Candidate Relationship Management Platform
- 10.2.3. Application Tracking System
- 10.2.4. Video Interviewing (AI-based)
- 10.3. By Job Type (USD)
- 10.3.1. Secretarial/Clerical
- 10.3.2. Accounting/Financial
- 10.3.3. Computing
- 10.3.4. Technical/Engineering
- 10.3.5. Professional/Managerial
- 10.3.6. Nursing/Medical/Care
- 10.3.7. Hotel/Catering
- 10.3.8. Sales/Marketing
- 10.3.9. Other Industrial/Blue Collar
- 10.4. By Country (USD)
- 10.4.1. China
- 10.4.1.1. By Job Type
- 10.4.2. India
- 10.4.2.1. By Job Type
- 10.4.3. Japan
- 10.4.3.1. By Job Type
- 10.4.4. South Korea
- 10.4.4.1. By Job Type
- 10.4.5. ASEAN
- 10.4.5.1. By Job Type
- 10.4.6. Oceania
- 10.4.6.1. By Job Type
- 10.4.7. Rest of Asia Pacific
- 11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
- 11.1. BambooHR LLC.
- 11.1.1. Overview
- 11.1.1.1. Key Management
- 11.1.1.2. Headquarters
- 11.1.1.3. Offerings/Business Segments
- 11.1.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.1.2.1. Employee Size
- 11.1.2.2. Past and Current Revenue
- 11.1.2.3. Geographical Share
- 11.1.2.4. Business Segment Share
- 11.1.2.5. Recent Developments
- 11.2. HireVue, Inc.
- 11.2.1. Overview
- 11.2.1.1. Key Management
- 11.2.1.2. Headquarters
- 11.2.1.3. Offerings/Business Segments
- 11.2.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.2.2.1. Employee Size
- 11.2.2.2. Past and Current Revenue
- 11.2.2.3. Geographical Share
- 11.2.2.4. Business Segment Share
- 11.2.2.5. Recent Developments
- 11.3. TalentLyft
- 11.3.1. Overview
- 11.3.1.1. Key Management
- 11.3.1.2. Headquarters
- 11.3.1.3. Offerings/Business Segments
- 11.3.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.3.2.1. Employee Size
- 11.3.2.2. Past and Current Revenue
- 11.3.2.3. Geographical Share
- 11.3.2.4. Business Segment Share
- 11.3.2.5. Recent Developments
- 11.4. Yello
- 11.4.1. Overview
- 11.4.1.1. Key Management
- 11.4.1.2. Headquarters
- 11.4.1.3. Offerings/Business Segments
- 11.4.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.4.2.1. Employee Size
- 11.4.2.2. Past and Current Revenue
- 11.4.2.3. Geographical Share
- 11.4.2.4. Business Segment Share
- 11.4.2.5. Recent Developments
- 11.5. Fountain
- 11.5.1. Overview
- 11.5.1.1. Key Management
- 11.5.1.2. Headquarters
- 11.5.1.3. Offerings/Business Segments
- 11.5.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.5.2.1. Employee Size
- 11.5.2.2. Past and Current Revenue
- 11.5.2.3. Geographical Share
- 11.5.2.4. Business Segment Share
- 11.5.2.5. Recent Developments
- 11.6. Flair.hr
- 11.6.1. Overview
- 11.6.1.1. Key Management
- 11.6.1.2. Headquarters
- 11.6.1.3. Offerings/Business Segments
- 11.6.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.6.2.1. Employee Size
- 11.6.2.2. Past and Current Revenue
- 11.6.2.3. Geographical Share
- 11.6.2.4. Business Segment Share
- 11.6.2.5. Recent Developments
- 11.7. SmartRecruiters
- 11.7.1. Overview
- 11.7.1.1. Key Management
- 11.7.1.2. Headquarters
- 11.7.1.3. Offerings/Business Segments
- 11.7.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.7.2.1. Employee Size
- 11.7.2.2. Past and Current Revenue
- 11.7.2.3. Geographical Share
- 11.7.2.4. Business Segment Share
- 11.7.2.5. Recent Developments
- 11.8. Avature
- 11.8.1. Overview
- 11.8.1.1. Key Management
- 11.8.1.2. Headquarters
- 11.8.1.3. Offerings/Business Segments
- 11.8.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.8.2.1. Employee Size
- 11.8.2.2. Past and Current Revenue
- 11.8.2.3. Geographical Share
- 11.8.2.4. Business Segment Share
- 11.8.2.5. Recent Developments
- 11.9. Recruitee.com
- 11.9.1. Overview
- 11.9.1.1. Key Management
- 11.9.1.2. Headquarters
- 11.9.1.3. Offerings/Business Segments
- 11.9.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.9.2.1. Employee Size
- 11.9.2.2. Past and Current Revenue
- 11.9.2.3. Geographical Share
- 11.9.2.4. Business Segment Share
- 11.9.2.5. Recent Developments
- 11.10. TestGorilla
- 11.10.1. Overview
- 11.10.1.1. Key Management
- 11.10.1.2. Headquarters
- 11.10.1.3. Offerings/Business Segments
- 11.10.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.10.2.1. Employee Size
- 11.10.2.2. Past and Current Revenue
- 11.10.2.3. Geographical Share
- 11.10.2.4. Business Segment Share
- 11.10.2.5. Recent Developments
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