Market Overview:
The global marine salvage market is estimated to be valued at US$ 2,362.8 Mn in 2018 and is projected to reach US$ 4,711.5 Mn by 2030, registering a CAGR of 7.4% from 2018 to 2030. The market growth can be attributed to the increasing demand for marine salvage services from deepwater noncargo operators, government customers and inland water transportation operators across the globe. Based on type, the global marine salvage market has been segmented into towage services, refloating grounded vessels, undertaking minor repairs on vessels and monitoring and providing pollution control services. Towage services segment is expected to account for a major share of the global marine salvage market during the forecast period owing to increasing demand for these services from deepwater noncargo operators across the globe. Based on application, Deepwater Noncargo Operators accounted for majority share of Global Marine Salvage Market in 2017 followed Government Customers & Inland Water Transportation Operators segments respectively . However ,Deepwater Noncargo Operators Segment is Expected To Register Highest CAGR Over The Forecast Period .
Product Definition:
Towing services:
Towing services are the marine industry's version of roadside assistance. It includes recovery and towing of vessels in distress, assisting with technical problems such as engine breakdowns or structural damage, providing fuel and water during emergencies, etc. Towing is a vital service that is carried out by a large number of vessel owners/operators as it helps them earn their livelihood.
Refloating grounded vessels:
Refloating grounded vessels (RGV) is a technique used in marine salvage operations to raise the vessel and allow it to float with the help of an anchor. The process involves using large chain reaction devices connected by cables, which are deployed from ships or other recovery vessels. These devices create a large circular motion, which helps in raising the vessel and allowing it to float free of underwater obstacles.
Application Insights:
The deepwater noncargo operators application segment accounted for the largest revenue share of over 60% in 2017. The growth can be attributed to increasing demand for marine salvage services in harsh environments, remote locations and on vessels operating at great depths. Deepwater noncargo operators primarily provide offshore support to oil & gas companies by providing a full range of services including vessel inspection, repair and maintenance from cradle to grave. These companies also tow or push grounded vessels back into the waterway without any attempt at salvaging cargo or crew members onboard such ships.
The government customers application segment is expected to witness significant growth over the forecast period owing to rising maritime law enforcement activities across various regions coupled with stringent safety regulations implemented by governments worldwide regarding vessel operations and safety of crew & passengers onboard merchant ships operating on inland waterways systems globally.
Regional Analysis:
Asia Pacific dominated the global marine salvage market in 2016 and is expected to continue its dominance over the forecast period. The region has a large number of shipwrecks, especially in coastal areas. Many countries including China, India, Thailand and Japan have witnessed incidents of oil spills from ships causing significant damage to environment and economy of these countries.
The North American regional market for marine salvage is anticipated to grow at a significant rate owing to increasing demand for tow services by offshore non-cargo operators as well as inland water transportation operators due to rising incidences of shipwrecking along U.S.-Canada border area particularly in St Lawrence River estuary system that includes ports such as Montreal & Quebec city among others).
Growth Factors:
- Increasing demand for marine salvage services due to increase in maritime trade and accidents.
- Development of new technologies and equipment that can help in marine salvage operations.
- Growing awareness about the importance of marine salvage services and its benefits among shipping companies, ship owners, and other stakeholders.
- Proliferation of maritime insurance policies that cover the costs associated with marine salvage operations.
Scope Of The Report
Report Attributes
Report Details
Report Title
Marine salvage Market Research Report
By Type
Towing services, Refloating grounded vessels, Undertaking minor repairs on vessels, Monitoring and providing pollution control services
By Application
Deepwater Noncargo Operators, Government Customers, Inland Water Transportation Operators, Other
By Companies
DonJon Marine Company, Ardent Global, Royal Boskalis Westminster, Tsavliris Salvage Group, Cooper Capital Specialty Salvage, LLC, Plan B marine solutions, Lloyd's
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
188
Number of Tables & Figures
132
Customization Available
Yes, the report can be customized as per your need.
Global Marine salvage Market Report Segments:
The global Marine salvage market is segmented on the basis of:
Types
Towing services, Refloating grounded vessels, Undertaking minor repairs on vessels, Monitoring and providing pollution control services
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Deepwater Noncargo Operators, Government Customers, Inland Water Transportation Operators, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- DonJon Marine Company
- Ardent Global
- Royal Boskalis Westminster
- Tsavliris Salvage Group
- Cooper Capital Specialty Salvage, LLC
- Plan B marine solutions
- Lloyd's
Highlights of The Marine salvage Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Towing services
- Refloating grounded vessels
- Undertaking minor repairs on vessels
- Monitoring and providing pollution control services
- By Application:
- Deepwater Noncargo Operators
- Government Customers
- Inland Water Transportation Operators
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Marine salvage Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Marine salvage is the process of recovering a vessel or its cargo from water.
Some of the major companies in the marine salvage market are DonJon Marine Company, Ardent Global, Royal Boskalis Westminster, Tsavliris Salvage Group, Cooper Capital Specialty Salvage, LLC, Plan B marine solutions, Lloyd's.
The marine salvage market is expected to register a CAGR of 7.4%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Marine salvage Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Marine salvage Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Marine salvage Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Marine salvage Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Marine salvage Market Size & Forecast, 2018-2028
4.5.1 Marine salvage Market Size and Y-o-Y Growth
4.5.2 Marine salvage Market Absolute $ Opportunity
Chapter 5 Global Marine salvage Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Marine salvage Market Size Forecast by Type
5.2.1 Towing services
5.2.2 Refloating grounded vessels
5.2.3 Undertaking minor repairs on vessels
5.2.4 Monitoring and providing pollution control services
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Marine salvage Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Marine salvage Market Size Forecast by Applications
6.2.1 Deepwater Noncargo Operators
6.2.2 Government Customers
6.2.3 Inland Water Transportation Operators
6.2.4 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Marine salvage Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Marine salvage Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Marine salvage Analysis and Forecast
9.1 Introduction
9.2 North America Marine salvage Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Marine salvage Market Size Forecast by Type
9.6.1 Towing services
9.6.2 Refloating grounded vessels
9.6.3 Undertaking minor repairs on vessels
9.6.4 Monitoring and providing pollution control services
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Marine salvage Market Size Forecast by Applications
9.10.1 Deepwater Noncargo Operators
9.10.2 Government Customers
9.10.3 Inland Water Transportation Operators
9.10.4 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Marine salvage Analysis and Forecast
10.1 Introduction
10.2 Europe Marine salvage Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Marine salvage Market Size Forecast by Type
10.6.1 Towing services
10.6.2 Refloating grounded vessels
10.6.3 Undertaking minor repairs on vessels
10.6.4 Monitoring and providing pollution control services
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Marine salvage Market Size Forecast by Applications
10.10.1 Deepwater Noncargo Operators
10.10.2 Government Customers
10.10.3 Inland Water Transportation Operators
10.10.4 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Marine salvage Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Marine salvage Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Marine salvage Market Size Forecast by Type
11.6.1 Towing services
11.6.2 Refloating grounded vessels
11.6.3 Undertaking minor repairs on vessels
11.6.4 Monitoring and providing pollution control services
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Marine salvage Market Size Forecast by Applications
11.10.1 Deepwater Noncargo Operators
11.10.2 Government Customers
11.10.3 Inland Water Transportation Operators
11.10.4 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Marine salvage Analysis and Forecast
12.1 Introduction
12.2 Latin America Marine salvage Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Marine salvage Market Size Forecast by Type
12.6.1 Towing services
12.6.2 Refloating grounded vessels
12.6.3 Undertaking minor repairs on vessels
12.6.4 Monitoring and providing pollution control services
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Marine salvage Market Size Forecast by Applications
12.10.1 Deepwater Noncargo Operators
12.10.2 Government Customers
12.10.3 Inland Water Transportation Operators
12.10.4 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Marine salvage Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Marine salvage Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Marine salvage Market Size Forecast by Type
13.6.1 Towing services
13.6.2 Refloating grounded vessels
13.6.3 Undertaking minor repairs on vessels
13.6.4 Monitoring and providing pollution control services
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Marine salvage Market Size Forecast by Applications
13.10.1 Deepwater Noncargo Operators
13.10.2 Government Customers
13.10.3 Inland Water Transportation Operators
13.10.4 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Marine salvage Market: Competitive Dashboard
14.2 Global Marine salvage Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 DonJon Marine Company
14.3.2 Ardent Global
14.3.3 Royal Boskalis Westminster
14.3.4 Tsavliris Salvage Group
14.3.5 Cooper Capital Specialty Salvage, LLC
14.3.6 Plan B marine solutions
14.3.7 Lloyd's
