NEW YORK, Jan. 17, 2019 /PRNewswire/ --
About this market
Developments in second-hand tugboat market to gain traction in the market. The second-hand tugboat market in Southeast Asia overtook that in Europe and the US in terms of volume sales in 2017. The high cost of buying a new tugboat has encouraged many owners and operators to opt for buying their vessels from the second-hand tugboat market. Technavio' s analysts have predicted that the tugboats market will register a CAGR of close to 17% by 2022.
Read the full report: https://www.reportlinker.com/p05713273
Market Overview
Increase in maritime trade and fleet size
The continued expansion in global maritime trade is a result of various international free trade agreements (FTAs). Thus, the increase in global maritime trade is expected to spur the demands for tugboats across the globe.
Stringent government regulations
Stringent regulations make the supply chain process complex and expensive, and thereby affect the tugboats market adversely.
For the detailed list of factors that will drive and challenge the growth of the tugboats market during the 2018-2022, view our report.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies including Techman-Head Group and Brackett Aircraft Company the competitive environment is quite intense. Factors such as the increase in maritime trade and fleet size and the expansion of aircraft manufacturing facilities, will provide considerable growth opportunities to tugboats manufactures. BOURBON, Edison Chouest Offshore, SEACOR Marine, Swire Pacific Group, and Tidewater are some of the major companies covered in this report.
Read the full report: https://www.reportlinker.com/p05713273
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