Smooth sailing: Increased trade volumes will pull industry revenue growth along

Over the past five years, the Tugboat and Shipping Navigational Services industry has grown steadily due to a consistent increase in water transportation industries. The industry has experienced steady demand for navigational services over the five years to 2017, benefiting from rebounding trade. Furthermore, though early in the five-year period operators needed to use fuel-cost surcharges to offset high oil prices, significant decreases in the price of oil later in the period helped boost industry profitability. Moving forward, the Tugboat and Shipping Navigational Services industry is expected to continue to experience steady revenue growth, as the economy continues to accelerate and trade grows over the five years to 2022...read more.

Industry Statistics & Market Size
Revenue
$4bn
Annual Growth 12-17
1.1%
Forecast Growth 17-22
Profit
Employment
11,749
Businesses
901
Market Share of Companies
What Our Customers Say

Industry Threats & Opportunities

  • The industry has experienced steady demand for navigational services over the past five years
  • Heightened volatility in the world price of crude oil during this period has hurt operators
  • The continued acceleration of the US economy is expected to drive up waterborne trade levels
  • Industry Report - Industry Products Chapter

    Companies within the Tugboat and Shipping Navigational Services industry help ships pass safely in and out of harbors. The industry mainly provides tugboat services, but it also provides marine salvaging, wrecking and navigational services. Furthermore, industry operators perform on occasion other services such as maintenance and repair for maritime vessels. In 2017, these other services are expected to represent 12.9% of total industry revenue.Tugboat serviceA tugboat, also called a tug, is a vessel used to tow or push other vessels into harbor. Generally, towage services are required to assist vessels in maneuverability and in negotiating restricted clearances in channels and berth areas. Tugs are also used in salvage and deep-sea towage work. The...purchase to read more.

    Additional Insights for the Tugboat & Shipping Navigational Services Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Tugboat & Shipping Navigational Services Industry are

  • Ability to recoup fuel expenses
  • Having links with suppliers
  • Ability to attract local support/patronage
  • IBISWorld analysts also discuss how external factors such as Demand from water transportation and Total trade value in the Tugboat & Shipping Navigational Services industry impact industry performance..

    shopping_cartPURCHASE OPTIONS

    What is the Tugboat & Shipping Navigational Services Industry?

    Companies in this industry provide navigational services that ensure the safe passage of ships in and out of harbors. Such services mainly involve docking and piloting marine vessels. Marine salvage services, which involve the retrieval of cargo or vessels following marine accidents, are also included in this industry.

    Industry Products
  • Tugboat service
  • Navigational & Transportation Related services
  • Towing Services
  • All Other services
  • Industry Activities
  • Cargo salvaging
  • Docking and undocking marine vessels
  • Harbor tugboat services
  • Marine salvaging services
  • Piloting services
  • Radio beacon services
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Demand from water transportation
  • Total trade value
  • Demand from natural disaster and emergency relief services
  • World price of crude oil

  • Current Performance
  • Strong sailing for tugboats
  • Oil prices and profitability
  • Industry structure
  • Chart: Revenue Growth

  • Industry Outlook
  • Trade leads to higher demand
  • Oil volatility hampers growth
  • Industry structure
  • Table: Tugboat & Shipping Navigational Services Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Tugboat & Shipping Navigational Services Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Ocean & Coastal Transportation
  • Inland Water Transportation

  • Key Selling Industries
  • Boat Building
  • Ship Building

  • Products & Services
  • Tugboat service
  • Navigational & Transportation Related services
  • All Other services
  • Towing Services
  • Chart: Tugboat & Shipping Navigational Services Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Commercial trade companies
  • Governmental bodies
  • Consumers
  • Chart: Major Market Segmentation for the Tugboat & Shipping Navigational Services Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Wages
  • Depreciation
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Tugboat & Shipping Navigational Services

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Tugboat & Shipping Navigational Services Industry

  • Industry Globalization
    Crowley Maritime Corporation
  • Table: Crowley Maritime Corporation - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Tugboat & Shipping Navigational Services Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Tugboat & Shipping Navigational Services Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • World price of crude oil (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
    Global Positioning System (Gps)
  • A navigational system involving satellites and computers that can determine the latitude and longitude of a receiver (specific boat).
  • The Jones Act
  • Legislation that affords protection to domestic water transport operators. The Act requires that tugboats operating within US harbors be US-flagged.
  • Waterborne Freight
  • Bulk shipments of goods transported via waterways. Includes inland water transportation as well as ocean transportation.
  • Why buy this report?

    IBISWorld’s Tugboat & Shipping Navigational Services Industry Research Report offers insight into the market at the national level. Our analysis highlights macro trends in the overall sector and the micro trends faced by companies that do business in the Tugboat & Shipping Navigational Services industry. Our five-year outlook forecasts explain how the market is set to change and the product segments that will drive growth.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Tugboat & Shipping Navigational Services:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Tugboat & Shipping Navigational Services market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Tugboat & Shipping Navigational Services, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

    Contact Us

    Want to speak to a representative? Call us.

    clear