PUBLISHER: The Business Research Company | PRODUCT CODE: 1429515
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429515
Inland water freight transportation refers to a mode of transportation over stretches of water, excluding sea routes, where crafts with a carrying capacity of at least 50 tons can navigate when normally loaded. This facilitates the inland water transportation of passengers and cargo on lakes, rivers, or intracoastal waterways.
The primary types of transportation in the inland water freight transport market include liquid bulk transportation and dry bulk transportation. Dry bulk transportation involves the shipment of dry raw materials in large, unpackaged parcels. It is further segmented by fuel types such as heavy fuel oil, diesel, biofuel, and others, and by vessel types including cargo ships, container ships, tankers, and others.
The inland water freight transport market research report is one of a series of new reports from The Business Research Company that provides inland water freight transport market statistics, including inland water freight transport industry global market size, regional shares, competitors with an inland water freight transport market share, detailed inland water freight transport market segments, market trends and opportunities, and any further data you may need to thrive in the inland water freight transport industry. This inland waterway freight 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 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 expansion observed in the historical period can be attributed to factors such as the rising population, economic growth in emerging markets, the demand for economical cargo transportation, and an 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 anticipated growth in the forecast period can be attributed to faster economic growth, a growing demand for e-commerce, infrastructure advances, and increasing investments. Significant trends expected in the forecast period include investments in information technology platforms for improved vessel management, the adoption of lean and green inland transportation practices, embracing partnerships and funding initiatives, utilization of freight and fleet tracking and management systems, adoption of terminal and port information and communication systems, and investments in freight tracking systems.
The inland water freight transport market is poised for growth due to the increasing demand for bulk transportation of goods. Bulk transportation involves the movement of large quantities of goods or materials, and inland water freight transport is well-suited for handling such substantial volumes. In 2021, the Bureau of Transportation Statistics (BTS) reported the daily average movement of approximately 53.6 million tons of freight, valued at over $54 billion in the United States. This trend reflects the market's expansion driven by the growing need for bulk transportation of goods.
Economic considerations for cargo transportation have been a primary driver for the inland water freight transport market. Water freight is generally perceived as a cost-effective option for heavier cargo, with fare calculations often based on the cubic meter of the standard container. In comparison, other modes of transport, such as air transport, determine chargeable weight through a combination of size and cargo weight. The World Bank notes that in India, waterways offer a more economical means of transporting cargo, with lower costs compared to road and rail transport.
Leading companies in the inland water freight transport market are embracing innovation, incorporating advanced technologies such as fuel cell technology to address environmental concerns. Fuel cell technology involves the direct conversion of fuel to electricity through electrochemical reactions. For example, Gazonor Bethune, a French subsidiary of La Francaise de l'Energie, introduced La Bethune, the world's first hydrogen fuel cell-powered river barge. This vessel, equipped with a 200 kW fuel cell system, aims to reduce carbon emissions by up to 40% compared to diesel-powered barges.
An emerging trend in the inland water freight transport market is the development of information technology platforms for enhanced vessel management. Approximately 80% of global trade by volume is carried by waterways, with ships using IT for fuel optimization, performance monitoring, document recognition, customer relationship management, warehouse management, and Que management systems. Notable platforms such as BunkerEx, Nautilus Labs, and Radiantfleet contribute to efficient operations, cost reduction, and improved budgeting by integrating digital and physical connectivity in the shipping industry.
In September 2021, Denmark-based logistics service provider Blue Water Shipping acquired Freightway International, a Canadian logistics company. This acquisition is anticipated to strengthen Blue Water's reefer activities in the North Atlantic region, emphasizing its commitment to the Canadian and North Atlantic markets within the inland water freight transport sector.
Major companies operating in the inland water freight transport market report are Ingram Barge, Kirby Inland Marine, CMA CGM Group, American Commercial Barge Line, Rhenus Group, Mckeil Marine Limited, Higman Barge Lines, Inc., American River Transportation, SCF Marine Inc., AP Moller - Maersk A/S, Air Sea Transport Inc., Cleverpod, Oceanwide Corportaion Ltd., Xenius, Ve Commercial Vehicles Limited, Toshiba, Aquamatix, Siemens, Elentec, Forwarding Germany Gmbh, Blue Water Shipping Germany Gmbh, Zim Germany Gmbh & Co Kg, Limited Liability Company Fesco Integrated Transport, Lukoil-Marinbunker, Rn-Bunker, Rosmorport, Fgup, Agrotek-Tm, Element Oil Treiding, Uralkhim-Trans, Paige Logistics Ltd., Sealion Cargo, The Ace Group Inc., Latin American Cargo - Lac, Consolidated Grain & Barge Company, Florida Progress Corporation, Acbl Holding Corporation, Ergon, Inc., American Commercial Lines, Inc., Yusen Logistics, Nippon Express, Fox Brasil, Panalpina, Maxitrans, Imexlog Logistica Aduaneira, Combined Transport Operator, Abbey Sea S.A, Acsa S.R.L., Administracion General De Puerto De Buenos Aires, Argentina Cargo S.R.L, Trident Freight, United Arab Shipping Company (Uasc), Freight Systems, Gulftainer Company Limited, Maersk, Gulf Marine Services (Gms), National Shipping Company Of Saudi Arabia (Nscsa), Safmarine Container Lines, Maritime Company For Navigation, Bollore Transport And Logistics South Africa (Pty) Ltd., Leeuwfontein Lodge (Pty) Ltd., Hoegh Autoliners (Pty) Ltd., Sturrock Grindrod Maritime (Pty) Ltd
Western Europe was the largest region in the inland water freight transport market in 2023. Asia-Pacific was the second largest region in the global inland water freight transport market share. The regions covered in the inland water freight transport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the inland water freight transport market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
The inland freight water transport market 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 Freight 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 freight 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 freight 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 freight 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.
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