The Marine Salvage Services industry has been subject to a high degree of revenue volatility during the past five years, due to fluctuating demand conditions. Weather, in particular, has been the main catalyst for growth. However, revenue contracts following extreme storms, hurting the industry. Nonetheless, upward movements in revenue have generously compensated for the downward contractions. In the five years to 2021, the industry will continue to be subjected to volatility, but the industry is looking to enter calmer water as total trade volumes continue to accelerate.
This industry provides retrieval and repair of vessels or cargo following a marine accident. Companies often work on a contract basis, whereby they are hired to conduct salvage operations on stricken ships.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.