$4.7bn
$XXX.Xm
15,280
961
$X.Xbn
The release of pent-up demand in 2021 caused severe congestion at major ports, particularly in California. The influx of goods from Asia led to bottlenecks, resulting in delays and lower vessel turnover, pressuring revenue. The inflationary pressures and tightened monetary policy stifled growth in trade value, while geopolitical tensions, including conflicts in Ukraine and the Middle East, have further disrupted trade patterns. Rising freight rates during the period prompted suppliers to seek alternative transportation methods, affecting traffic at major ports and disrupting schedules. Revenue is expected to decline at a CAGR of 0.4% to an estimated $4.7 billion through the end of 2024, including a 1.8% growth in 2024.
Industry revenue has declined at a CAGR of 0.4 % over the past five years, to reach an estimated $4.7bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Crowley Holdings, Inc. | 338.0 | 35.9 | 10.6 |
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Industry revenue is measured across several distinct product and services lines, including Tugboat services, Navigational & transportation-related services and Towing services. Tugboat services is the largest segment of the Tugboat & Shipping Navigational Services in the US.
Tugboat services benefited from the strength of the US dollar
Companies provide navigational services that ensure the safe passage of ships in and out of harbors. The 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.
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NAICS 48833 - Tugboat & Shipping Navigational Services in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Rising freight rates are prompting suppliers to seek alternative transportation methods, disrupting traffic at major ports. Tensions in the Middle East and attacks in the Red...
Learn about an industry's products and services, markets and trends in international trade.
Tugboat services benefited from the strength of the US dollar, which drove import activity. The resiliency of the US consumer expanded the revenue share of tugboat services, ...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
The West's maritime industry benefits from major hubs like the Port of Los Angeles and Long Beach. The ports handle significant vessel traffic and expedite shipping routes, c...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
The high number of small, localized enterprises drives fragmentation. Many businesses operate close to specific ports and employ less than five people.
Learn about the performance of the top companies in the industry.
Crowley Holdings Inc., the only major company in the industry, holds a market share of less than 8.0%. The US Census Bureau's data suggests that 62.2% of all establishments h...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Maritime vessels account for 40.0% of international trade in the US. Tugboats become essential for navigating ports and ensuring safe harbor passage as trade volume rises.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Rising fuel costs and inflation have significantly pressured tugboat operators' profitability. Despite some relief from moderating inflation, the reliance on diesel fuel cont...
Including values and annual change:
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Key data sources in the US include:
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The market size of the Tugboat & Shipping Navigational Services in the US industry in United States is $4.7bn in 2024.
There are 961 businesses in the Tugboat & Shipping Navigational Services in the US industry in United States, which has grown at a CAGR of 2.2 % between 2019 and 2024.
The market size of the Tugboat & Shipping Navigational Services in the US industry in United States has been declining at a CAGR of 0.4 % between 2019 and 2024.
Over the next five years, the Tugboat & Shipping Navigational Services in the US industry in United States is expected to grow.
The biggest company operating in the Tugboat & Shipping Navigational Services market in United States is Crowley Holdings, Inc.
Cargo salvaging and Docking and undocking marine vessels are part of the Tugboat & Shipping Navigational Services in the US industry.
The company holding the most market share in United States is Crowley Holdings, Inc..
The level of competition is moderate and steady in the Tugboat & Shipping Navigational Services in the US industry in United States.