Inland Waterways Vessels Market 2024 By Top Key Regional Manufacturers – CMA CGM, Damen Shipyards Group, DFDS, Hyundai Heavy Industries, MSC Mediterranean Shipping Company, Rhenus Logistics, Royal Wagenborg

Inland Waterways Vessels Market is estimated to exhibit 4.8% CAGR with USD 2,250 billion by 2024.

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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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.

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.

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

1. Groupe Beneteau
2. CMA CGM Group
3. Damen Shipyards Group
4. DFDS
5. Hyundai Heavy Industries
6. McKeil Marine Limited
7. Mediterranean Shipping Company S.A
8. Meyer Werft GmbH & Co., KG
9. Moran Towing
10. Rhenus Group
11. Royal Wagenborg

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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.

The revenue graph of inland waterways vessels market has witnessed considerable escalation in the recent years, subject to reliability and energy efficiency provided in this mode of transportation. Indeed, both passenger and non-passenger vessels have found increasing relevance in inland waterways lately. Observing the environmental advantages of adopting superior inland waterways transportation, regional governments have taken efforts to make major investments in developing inland waterways.

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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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