Press release
Evolving Market Trends In The Inland Water Transport Industry: Ingram Barge Company Acquires Inland River Transport Holdings LLC To Enhance Service Offerings
Inland Water Transport
What Is the Current Inland Water Transport Market Size and Its Estimated Growth Rate?
The market size of inland water transport has been experiencing solid growth in the past few years. It is projected to increase from $22.11 billion in 2024 to $23.67 billion in 2025, displaying a compound annual growth rate (CAGR) of 7.1%. The historical growth can be linked to factors such as agricultural transportation, bulk cargo transport, infrastructural development, environmental benefits, trade and commerce, as well as industrialization.
The market size of inland water transport is projected to witness significant expansion in the coming years, reaching a value of $30.23 billion in 2029, with a compound annual growth rate (CAGR) of 6.3%. The growth predicted for the forecast period can be linked to sustainable practices, development of inland ports, progression in tourism, river restoration initiatives, economic growth within riverine regions, and management of water resources. The upcoming trends during the forecast period encompass fleets incorporating eco-friendly technologies, intelligent ports and terminals, information systems designed for inland waterways, systems for predictive maintenance and enhancing intermodal connectivity with rail and road transport services.
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How Are Emerging Segments Shaping the Inland Water Transport Market Landscape?
The inland water transport market covered in this report is segmented -
1) By Type: Inland Water Freight Transport, Inland Water Passenger Transport
Subsegments:
1) By Inland Water Freight Transport: Bulk Cargo Transport, Container Transport, Liquid Cargo Transport, General Cargo Transport
2) By Inland Water Passenger Transport: Canal Passenger Transportation, Intercostal Transportation Of Passengers, Lake Passenger Transportation, Water Shuttle Services, River Passenger Transportation, Ship Chartering with Crew, Water Taxi Services
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Which Growth Factors Are Influencing Inland Water Transport Market Expansion?
Lately, there has been a push by corporations for more efficient and eco-friendly inland freight. This includes a shift towards the use of natural gas in shipping, refurbishments in ship designs, and optimizing cargo loading and unloading processes. Companies are also updating their old ship equipment with devices that reduce emissions, applying hull cleaning and coating practices, and installing high-quality propellers and nozzles. Sophisticated propulsion systems like fuel-cell hybrid drives are set to hit the market soon. The inland transportation sector is forecasting consistent growth in the coming years due to these endeavors.
Who Are the Dominant Players Across Different Inland Water Transport Market Segments?
Major companies operating in the inland water transport market include Ingram Barge Company, Kirby Corporation, Canal Barge Company Inc., Marquette Transportation Company LLC, American Commercial Barge Line LLC, SEACOR Holdings Inc., Tidewater Transportation and Terminals, Bouchard Transportation Co. Inc., Campbell Transportation Company Inc., Florida Marine Transporters LLC, ACL Transportation Services, Danser Group, Groupe Charles André, Cargill Transportation, Imperial Logistics, Fospar S/A, Naviera Fluvial Paraguaya S.A., HMM Co. Ltd, MOL Logistics Co. Ltd, Louis Dreyfus Company, Hamburg Süd Group, ArcelorMittal Shipping, Nippon Yusen Kabushiki Kaisha (NYK Line), Northern Shipping Company, Rhenus Logistics, Balearia Eurolineas Maritimas S.A., CMA CGM Group, Damen Shipyards Group, DFDS A/S, BBC Chartering
What Are the Latest Developing Trends in the Inland Water Transport Market?
Ingram Barge Company LLC, a firm based in the US that specializes in transporting commodities on inland waterways, bought another US-based company, Inland River Transport Holdings LLC (also known as SCF) in February 2024, though the exact amount of the deal remains undisclosed. The primary motivation behind this acquisition was to bolster Ingram's existing mission and functioning efficacy regarding its comprehensive river transport service. Inland River Transport Holdings LLC, commonly recognized as SCF, is also an American firm that offers inland river transportation and logistics services.
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Which Geographic Regions Are Expected to Dominate the Inland Water Transport Market in the Coming Years?
Western Europe was the largest region in the inland water transport market in 2024. Asia-Pacific was the second largest region in the inland water transport market. The regions covered in the inland water transport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Inland Water Transport Market?
2. What is the CAGR expected in the Inland Water Transport Market?
3. What Are the Key Innovations Transforming the Inland Water Transport Industry?
4. Which Region Is Leading the Inland Water Transport Market?
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