Inland Water Freight Transport Global Market To Reach Value Of About $22 Billion In 2025

The inland water freight transport market consists of sales of inland water freight transportation services and related goods by entities (organizations, sole traders, and partnerships) that provide inland water transportation of cargo on lakes, rivers, or intra-coastal waterways. Only goods and services traded between entities or sold to end consumers are included.

Global Inland Water Freight Transport Market Size And Drivers:

The global inland water freight transport market is expected to grow from $17.89 billion in 2020 to $18.66 billion in 2021 at a compound annual growth rate (CAGR) of 4.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $22.29 billion in 2025 at a CAGR of 4.5%. The need for economical transportation for cargo has been the main driving factor for the inland water freight transport market.

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Trends In The Global Inland Water Freight Transport Market

The development of information technology platforms for better vessel management is an emerging trend in the inland water freight transport market. According to the United Nations Conference on Trade and Development (UNCTAD) in 2019, about 80% of global trade by volume was carried by waterways with a fleet of 95402 ships. Information technology on ships is used for- fuel optimization and monitoring vessel performance, recognizing scanned copies and photos of documents, customer relationship management, warehouse management, and Que management system. Few significant online apps and portals used for operations management on the ship are - BunkerEx, an online portal for ship owners helping in finding optimal bunker port; Nautilus Labs, takes data from sensors, manual reports, and market information to get a unified fleet intelligence picture; and Radiantfleet, with its software, helps in digitizing workflows, cut cost and improve budgeting. Therefore, the combination of digital and physical connectivity helps carriers and seaports to integrate their processes with shippers and track devices for containers and cargos.

Global Inland Water Freight Transport Market Segments:
The global inland water freight transport market is further segmented –
By Type Of Transportation: Liquid Bulk Transportation, Dry Bulk Transportation
By Fuel: Heavy Fuel Oil, Diesel, Biofuel, Others
By Vessel Type: Cargo Ships, Container Ships, Tankers, Others
By Geography: The global inland water freight transport market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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Inland Water Freight Transport Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides inland water freight transport market overviews, analyzes and forecasts market size and growth for the global inland water freight transport market, inland water freight transport market share, inland water freight transport market players, inland water freight transport market segments and geographies, inland water freight transport market’s leading competitors’ revenues, profiles and market shares. The inland water freight transport market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.