Inland Water Transport Global Market Report 2021: COVID 19 Impact and Recovery to 2030

Major companies in the inland water transport market include American Commercial Lines LLC; Ingram Industries; AP Moller - Maersk A/S; Jeffboat and European Cruise Service. The global inland water transport market is expected to grow from $18.

New York, Feb. 17, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Inland Water Transport Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06025338/?utm_source=GNW
62 billion in 2020 to $19.42 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 $23.2 billion in 2025 at a CAGR of 5%.

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 tonnes can navigate when normally loaded. The inland water transport market is segmented into inland water freight transportation and inland water passenger transportation.

Asia Pacific was the largest region in the global inland water transport market, accounting for 32% of the market in 2020. Western Europe was the second largest region accounting for 29% of the global inland water transport market. Africa was the smallest region 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.


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