Inland Water Freight Transport Market Growth to be Driven by Emerging Trends | $23.92 Billion by 2029

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What is the Projected Market Size of the Inland Water Freight Transport Industry?
In recent times, there has been a marked progress in the size of the inland water freight transport market. It is projected to escalate from a value of $17.75 billion in 2024 to $18.75 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 5.6%. Factors such as an increasing population, unfolding economic progress in upcoming markets, the requisite for cost-efficient cargo transportation, and a surge in funding contribute to the growth witnessed in the past period.

What Will Be the Size of the Inland Water Freight Transport Market by 2029?
The value of the inland water freight transport market is slated to witness a significant surge in the coming years, expected to reach $23.92 billion in 2029 at a Compound Annual Growth Rate (CAGR) of 6.3%. This growth projection for the forecast period can be attributed to a swift economic growth, the expanding demand related to e-commerce, advancements in infrastructure, and ramping up of investments. In the same forecast period, key trends to watch out for include the integration of information technology platforms for improved vessel management, commitment to eco-friendly and efficient inland transportation, strong adoption of partnerships and funding, implementation of freight and fleet tracking and management systems, the adoption of terminal and port information and communication systems, and investment in freight tracking systems.

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What Are the Key Drivers Accelerating Growth in the Inland Water Freight Transport Market?
The rising need for the mass conveyance of goods is set to boost the inland water freight transport market growth. Mass conveyance deals with the transport of sizeable amounts of goods or materials. Dealing with significant quantities is a forte of inland water freight transport, making it a preferred choice for mass conveyance. For example, as stated by gov.uk, a UK public sector information site, in July 2023, UK ports handled an overall cargo of 458.9 million tonnes in 2022, marking a 3% rise from 2021. Therefore, this surging need for mass conveyance of goods is being instrumental in pushing the growth of the inland water freight transport market.

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How Is the Inland Water Freight Transport Market Segmented by Type, Application, and Region?
The inland water freight transport market covered in this report is segmented -

1) By Type: Liquid Bulk Transportation, Dry Bulk Transportation
2) By Fuel Type: Heavy Fuel Oil, Diesel, Biofuel, Other Fuels
3) By Vessel Type : Cargo Ships, Container Ships, Tankers, Other Vessel Types

Subsegments:
1) By Liquid Bulk Transportation: Transportation Of Chemicals, Transportation Of Petroleum Products, Transportation Of Food-Grade Liquids
2) By Dry Bulk Transportation: Transportation Of Agricultural Products, Transportation Of Minerals, Transportation Of Construction Materials

What Are the Key Trends Driving Growth in the Inland Water Freight Transport Market?
Leading firms in the inland water freight transport market have begun freight operations to increase operational proficiency, diminish transportation expenses, and boost service dependability, while catering to the rising need for environmentally friendly logistics solutions. These operations are also aimed at fostering tourism via better access to waterway routes. By improving the infrastructure for passenger vessels and leisure boating, the responsible bodies hope to entice tourists and invigorate local economies. For instance, in December 2023, The Andhra Pradesh Inland Waterways Authority, a body based in India, initiated cargo transport operations with the aim of boosting cargo and tourism via the growth of inland waterways. They have commenced freight operations, including the operation of Roll-on/Roll-off (Ro-Ro) services on National Waterway-4 (NW-4), specifically between Ibrahimpatnam and Lingayapalem on the Krishna River. This service primarily aids the transportation of stone chips for construction, highlighting the capabilities of efficient cargo transfer through inland waterways.

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Who Are the Leading Companies Driving Growth in the Inland Water Freight Transport Market?
Major companies operating in the inland water freight transport market include 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., Limited Liability Company Fesco Integrated Transport, 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., 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

Which Is the Leading Region in the Global Inland Water Freight Transport Market?
Western Europe was the largest region in the inland water freight transport market in 2024. 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

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