Global Inland Water Transport Market Trends And Strategies Of Major Players In The Inland Water Transport Market 2021-2030
1 Mar, 2021
The inland water transport market consists of sales of inland water transportation services and related goods by entities (organizations, sole traders and partnerships) that provide inland water transportation of passengers and cargo on lakes, rivers, or intracoastal waterways. Inland waterways are stretches of water, not part of the sea, over which crafts of a carrying capacity not less than 50 tons can navigate when normally loaded.
Global Inland Water Transport Market Size And Drivers:
The global inland water transport market is expected to grow from $18.62 billion in 2020 to $19.42 billion in 2021 at a compound annual growth rate (CAGR) of 4.3%. The market is expected to reach $23.2 billion in 2025 at a CAGR of 5%. 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.
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Trends In The Global Inland Water Transport Market
Companies are recently encouraging lean and green inland transportation. For improved efficiency, companies are focusing on natural gas in shipping, improved vessel designs, efficient loading and unloading of cargo and many more. The companies are also retrofitting old equipment in ships with emission reduction devices, hull cleaning and coating and high-performance propellers and nozzles. Certain advanced propulsion systems such as fuel cell hybrid drive technologies will be soon there in the market. With these efforts inland transport market is seeing a steady growth in the upcoming years.
Global Inland Water Transport Market Segments:
The global inland water transport market is further segmented based on type and geography.
By Type:Inland Water Freight Transport, Inland Water Passenger Transport.
By Geography:The global inland water transport market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, Asia Pacific is the largest region in the global inland water transport market, accounting for 32% of the market.
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Inland Water Transport Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides inland water transport market overviews, analyzes and forecasts market size and growth for the global inland water transport market, inland water transport market share, inland water transport market players, inland water transport market segments and geographies, inland water transport market’s leading competitors’ revenues, profiles and market shares. The inland water transport market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.