The Inland Water Freight Transport by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Inland Water Freight Transport, The inland water freight transport market size has grown strongly in recent years. It will grow from $18.66 billion in 2023 to $19.92 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to rising population, economic growth in emerging markets, the need for economical transportation for cargo, increase in investments.
The inland water freight transport market size is expected to see strong growth in the next few years. It will grow to $25.51 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to faster economic growth, growing demand for e-commerce, infrastructure advances and increasing investments. Major trends in the forecast period include investing in information technology platforms for better vessel management, adopting lean and green inland transportation, adopting partnerships and funding, using freight and fleet tracking and management systems, adopting terminal and port information and communication systems and investing in freight tracking systems.
Growing demand for bulk transportation of goods is expected to propel the growth of the inland water freight transport market. Bulk transportation refers to the transportation of large quantities of goods or materials. Inland water freight transport can handle large volumes of goods, making it an ideal option for bulk transport. For instance, according to the Bureau of Transportation Statistics (BTS), a US-based transportation system moved a daily average of about 53.6 million tons of freight valued at more than $54 billion in 2021. Thus, the growing demand for bulk transportation of goods is driving the growth of the inland water freight transport market.
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The inland water freight transport market covered in this report is segmented –
1) By Type: Liquid Bulk Transportation, Dry Bulk Transportation
2) By Fuel Type: Heavy Fuel Oil, Diesel, Biofuel, Other Fuels
3) By Vessel Type : Cargo Ships, Container Ships, Tankers, Other Vessel Types
Major companies operating in the inland water freight transport market are developing innovative products with advanced technologies such as Fuel cell technology to reduce carbon emissions. Fuel cell technology refers to an electrochemical device that directly converts a fuel to electricity by means of reactions on the surfaces of electrodes and transport of ions. For instance, in September 2021, Gazonor Béthune, a France-based subsidiary of La Française de l’Energie, launched the world’s first hydrogen fuel cell-powered river barge, named La Bethune, It is powered by a 200 kW fuel cell system and can transport up to 350 tonnes of goods on the river Seine. The vessel is expected to reduce carbon emissions by up to 40% compared to a diesel-powered barge.
The inland water freight transport market report table of contents includes:
1. Executive Summary
- Inland Water Freight Transport Market Characteristics
- Inland Water Freight Transport Market Trends And Strategies
- Inland Water Freight Transport Market – Macro Economic Scenario
- Global Inland Water Freight Transport Market Size and Growth
. - Global Inland Water Freight Transport Market Competitive Benchmarking
- Global Inland Water Freight Transport Market Competitive Dashboard
- Key Mergers And Acquisitions In The Inland Water Freight Transport Market
- Inland Water Freight Transport Market Future Outlook and Potential Analysis
- Appendix
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