Tugboat & Shipping Navigational Services in the US
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 2019, 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 2024. Nonetheless, historically volatile oil prices will also continue to be a concern for industry operators.
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.
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.
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