PUBLISHER: The Business Research Company | PRODUCT CODE: 1435422
PUBLISHER: The Business Research Company | PRODUCT CODE: 1435422
Inland water transportation encompasses the movement of goods and passengers over non-sea water bodies, accommodating vessels with a minimum capacity of 50 tons when fully loaded. This mode of transport operates on lakes, rivers, or intracoastal waterways.
The primary segments within the inland water transport market include freight and passenger transportation. Inland water freight transport pertains to navigating water bodies that are not part of the ocean but are navigable for vessels. Utilizing inland waterways for transporting goods offers cost-effectiveness and fuel efficiency.
The inland water transport market research report is one of a series of new reports from The Business Research Company that provides inland water transport market statistics, including inland water transport industry global market size, regional shares, competitors with an inland water transport market share, detailed inland water transport market segments, market trends and opportunities, and any further data you may need to thrive in the inland water transport industry. This inland water transport market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The inland water transport market size has grown strongly in recent years. It will grow from $20.51 billion in 2023 to $21.92 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The expansion observed in the historical period can be credited to various factors such as agricultural transport, bulk cargo transportation, the development of infrastructure, environmental benefits, increased trade and commerce, and the process of industrialization.
The inland water transport market size is expected to see strong growth in the next few years. It will grow to $28.24 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The forecasted growth stems from sustainable practices, inland port development, tourism initiatives, river restoration projects, economic progress in riverine areas, and improved water resource management. Key trends ahead include eco-friendly fleet technologies, smart ports, inland waterway information systems, predictive maintenance, and enhanced intermodal connectivity with rail and road networks.
Companies are actively promoting lean and green practices in inland transportation, focusing on various measures to enhance efficiency and environmental sustainability. This includes the adoption of natural gas in shipping, the implementation of improved vessel designs, efficient cargo loading and unloading processes, and retrofitting old equipment in ships with emission reduction devices. Additionally, companies are investing in hull cleaning and coating, as well as high-performance propellers and nozzles. The industry is also exploring advanced propulsion systems such as fuel cell hybrid drive technologies, which are expected to become available in the market soon. These efforts collectively contribute to the steady growth of the inland transport market in the coming years.
The growth of the inland water transport market is further fueled by the increasing industrial production index (IPI). The IPI serves as a statistical indicator that measures the volume of goods and services produced within a country over a specific period. Monitoring the industrial production index allows for an assessment of the performance of the inland water transport sector by comparing its IPI to the overall industrial sector's IPI. For example, in October 2021, according to YCharts, a U.S.-based financial research and analysis platform, the U.S. industrial production index (IPI) rose from 99.51 in July 2021 to 102.69 in July 2022. This upward trend in the industrial production index signifies increased manufacturing activities, thereby driving the growth of the inland water transport market.
In January 2021, XPO Logistics, Inc., a U.S.-based freight transportation company, successfully completed the acquisition of Kuehne + Nagel International AG for an undisclosed sum. This strategic acquisition is poised to enhance XPO's operational capabilities in the UK while also facilitating the expansion of its service portfolio. Kuehne + Nagel International AG, based in Switzerland, is a provider of comprehensive transport and logistics services, encompassing inland water transport.
Major companies operating in the inland water transport market report are Deutsche Post AG; AP Moller - Maersk A/S; CMA CGM Group; Carnival Corporation; Nippon Yusen; Hyundai Merchant Marine America; Kirby Inland Marine; Ingram Marine Group; Groupe Beneteau; Bayliner Boats; American Commercial Lines LLC; Rhenus Group; Florida Marine Transporters; Alnmaritec Ltd.; ACBL Transportation Services; Marquette Transportation Company; Canal Barge Company; Blessey Marine Services; Seacor Holdings Inc.; G&H Towing Company; European Cruise Service; Main Iron Works LLC; American River Transportation; Cenac Marine; ST Shipping and Transport Inc.; Campbell Transportation Company; Safewater Lines; Heartland Barge Management; Waterfront Shipping Company Limited; Eiger Shipping SA; Central Inland Water Transport Corporation Limited; Savage Inland Marine
Western Europe was the largest region in the inland water transport market in 2023. Asia-Pacific was the second largest region in the inland water transport market. The regions covered in the inland water transport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the inland water transport market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.
The market for inland water transport includes revenues earned by entities by providing navigation as well as drainage, irrigation, water supply, and hydroelectric power generation. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Inland Water Transport Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on inland water transport market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for inland water transport ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The inland water transport market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.