Inland Waterways Vessels Market to hit $2250 Billion by 2024 By Key Players –Royal Wagenborg, Rhenus Logistics, NYK Line, Mediterranean Shipping Company, Hyundai Heavy Industries, CMA CGM

Non-passenger inland waterways vessel market will dominate the industry place with more than 84% revenue share by 2024. Increasing demand of cargo ships for transportation of agricultural products are boosting the segment share over the forecast timeframe. High adoption of general cargo and fishing vessels along with the increasing adoption of tugboats for proper movement and towing of ships will support the segment dominance.

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Industry Growth drivers:

1 North America
1.1 Increasing trading activities
2 Europe
2.1 Rising marine passenger traffic in Europe
3 Asia Pacific
3.1 Increasing shipbuilding activities
4 LATAM
4.1 Development of ports
5 MEA
5.1 Government initiatives

Passengers ship will grow significantly at approximately 6% CAGR till 2024. Increasing support from the government for enhancing the industry is playing a major role for inland waterways vessels market expansion till 2024. For instance, in 2018, Government of India approved USD 6.7 billion for leasing out cruises and promote cruise tourism providing a positive outlook for the industry growth.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Alnmaritec Ltd.
2. Bayliner
3. Groupe Beneteau
4. CIWTC (Central Inland Water Transport Corporation Limited)
5. CMA CGM Group
6. Construction Navale Bordeaux
7. Daewoo Shipbuilding & Marine Engineering Company Limited
8. Damen Shipyards Group
9. DFDS
10. EURO-RIJN B.V.
11. European Cruise Service
12. Hodder Tugboat Co. Ltd
13. Hyundai Heavy Industries
14. McKeil Marine Limited
15. Mediterranean Shipping Company S.A
16. Meyer Werft GmbH & Co., KG
17. Moran Towing
18. Nichols Brothers Boat Builders
19. Norfolk Tug Company
20. Rhenus Group
21. Royal Wagenborg
22. Sanmar Group
23. Seacontractors
24. Viking Cruises

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Global inland waterways vessels market from heavy fuel oil will exhibit the maximum volume share of over 72% over the forecast timeframe. This dominance can be credited to the easier availability and increased usage of such fuels in multiple types of vessels. Low sulfur fuel oil will showcase over 10% CAGR over the forecast timeframe. This growth can be attributed to the benefits offered by the fuel including lower emissions and relatively clean burning compared to the other fuels. The compliance with stringent regulatory norms further supports the segment growth till 2024.

Asia Pacific dominated the global inland waterways vessels market place with around 1,645 thousand units in 2017. This can be attributed to the improving water channels across the region. Supporting government initiatives along with increased investments to promote cruise tourism will further strengthen the regional dominance till 2024. Presence of multiple manufacturers including Sembcorp Marine, Samsung Heavy Industries, Wisdom Marine, Ilshin Shipping, and Hyundai Heavy Industries focus on introducing efficient inland vessels along with the proper integration of inland waterways transportation into inland transport and logistics network will further proliferate the business size.

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Sneed Shipbuilding, Sanmar, Bayliner, CMA CGM Group, and European Cruise Service are among the key players in the global inland waterways vessel market place. Other significant players include Windcat Work Boats, DFDS, Seacontractors, Norfolk Tug Company, and CIWTC.

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