How much is the deep sea, coastal, and great lakes market worth, and how is it expected to expand?
The deep sea, coastal, and great lakes market size has grown strongly in recent years. It will grow from $594.12 billion in 2024 to $630.33 billion in 2025 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to global trade and economic growth, commodity transport, maritime infrastructure development, manufacturing and consumer goods.
The deep sea, coastal, and great lakes market size is expected to see steady growth in the next few years. It will grow to $759.68 billion in 2029 at a compound annual growth rate (CAGR) of 4.8%. The growth in the forecast period can be attributed to digitalization and automation, resilience and climate change mitigation, supply chain diversification, maritime safety and security. Major trends in the forecast period include alternative fuels and energy transition, emission reduction and sustainability, digitalization and automation, port infrastructure expansion.
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Which industry factors have accelerated the deep sea, coastal, and great lakes market’s expansion?
Water transportation service companies are increasingly using sensor technologies to enable monitoring of remote locations of ships. A sensor is a device that detects and responds to some type of input from the physical environment. The specific input could be light, heat, motion, moisture, pressure, or any one of several other environmental phenomena present on the ship. Sensors in remote locations of ships collect data autonomously and relay the data to the control room in real-time. The data captured by the sensor allows ship owners to improve the overall maintenance cycle of visits, including condition monitoring and condition-based monitoring. For instance, NoraSens and Silicon Radar are some of the company’s manufacturing sensors for ships.
What are the primary segments of the deep sea, coastal, and great lakes market?
The deep sea, coastal, and great lakes market covered in this report is segmented –
1) By Type: Deep Sea Transport, Coastal And Great Lakes Transport
2) By Application: Onshore, Offshore
Subsegments:
1) By Deep Sea Transport: Container Shipping, Bulk Carrier Shipping, Tanker Shipping, Cargo Shipping, Passenger Shipping, Other Deep Sea Transport
2) By Coastal And Great Lakes Transport: Coastal Shipping (Domestic), Great Lakes Shipping, Ferry Services, Short-Sea Shipping, Other Coastal And Great Lakes Transport
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Which firms are leading the deep sea, coastal, and great lakes market?
Major companies operating in the deep sea, coastal, and great lakes market include AP Moller – Maersk A/S, China Ocean Shipping Company Limited, Cargill Incorporated, CMA CGM S.A., Hapag-Lloyd AG, Evergreen Marine Corp, K-Line, Hyundai Merchant Marine Co. Ltd., Nippon Yusen, Kuehne + Nagel International AG, Mediterranean Shipping Company SA, Carnival Corporation, Seacor Holdings Inc., Crowley Maritime Corporation, Matson Inc., American President Lines, Ltd., Maersk Line, Royal Caribbean Cruises Ltd., Norwegian Cruise Line Holdings Ltd., Princess Cruises, Celebrity Cruises, Holland America Line, MSC Cruises, Crystal Cruises, Silversea Cruises, Regent Seven Seas Cruises, Oceania Cruises, Azamara Cruises, Viking Cruises, Hurtigruten.
Which market trends are set to define the future of the deep sea, coastal, and great lakes market?
Major companies operating in the deep sea, coastal, and great lakes market are focused on developing new innovative, eco-friendly, and sustainable shipping practices, such as carbon-neutral ships, to provide reliable services to customers. Carbon-neutral ships are ships that produce zero net greenhouse gas emissions. For instance, in September 2023, Mærsk A/S, a Denmark-based shipping and logistics company, launched Laura, a container ship running on bio-methanol. It is a compact variant with a dual-fuel engine that can move 2,136 20-foot (TEU) containers. Comparing the Laura to the same ship running on fuel oil will result in a daily reduction in CO2 emissions of 100 tones.
Which geographic trends are shaping the deep sea, coastal, and great lakes market, and which region has the highest market share?
Asia-Pacific was the largest region in the deep sea, coastal, and great lakes transportation market in 2023. Western Europe was the second largest region in the deep sea, coastal, and great lakes transportation market. The regions covered in the deep sea, coastal, and great lakes transportation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Deep Sea, Coastal, And Great Lakes Market Report 2025 Offer?
The deep sea, coastal, and great lakes market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Deep sea, coastal, and great lakes transportation refer to modes of maritime transportation using intercontinental routes and crossing oceans, along the shoreline, in the sea, or in the ocean, and in the great lakes to carry goods and cargo from one place to another using watercraft such as ships, barges, and boats.
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