Inland Waterways Vessels Market
For sale by Maximize Market Research 31 Aug 2018 6:58 pm
is estimated to reach US$ XX Bn by 2026 in terms of revenue at CAGR of XX % in the forecasting period. Rising trading activities through waterways across the globe coupled with benefits provided by these vessels will primarily drive the industry growth. The high preference towards inland waterways can be attributed to their advantages such as reliability and congestion-free transportation. Moreover, the usage of inland waterways is environment-friendly and economical, which in turn will positively impact the global Inland Waterways Vessels Market over the forecast timeframe. Government initiatives to enhance port facilities will also escalate the market share over the study period. For instance, in March 2018, the ports sector of India was awarded USD 10 billion that will be benefiting the service providers for their tasks such as operation & maintenance, pilotage & harbors, etc. Rising inland traffic along with heavy investments is further pointing towards a healthy outlook for the industry in future. Rising penetration of digital systems result in improvement of the operational performance and minimizing the cost & risks involving human error. Multiple sensors are deployed in ships offering ship monitoring which will enhance the overall performance as well. Incorporation of automation technologies is a prominent trend that will positively influence the regulatory procedures, business operations, maintenance, and navigation. Shipping may also implement technologies from oil and gas industry such as system for remote monitoring, data mining and diagnostics. These advancements are likely to further induce immense potential to the market over the next couple of years. Inland Waterways Vessels Market is majorly segmented by the vessel, fuel, and region. Based on vessel segment, non-passenger type is expected to dominate the global Inland Waterways Vessels Market in 2016. Substantial revenue generation is attributed to the high prominence of work boats including fishing vessels and general cargo ships in the industry. Moreover, high usage of tugboats and freight vessels for the transportation of goods will contribute significantly towards the industry growth. Under fuel segment, diesel oil held highest market share in 2016. It is attributed to the strong prevalence of the fuel in the industry. Diesel is pre-dominantly used in majority of the vessels across the globe, supporting its dominance. LNG is likely to grow significantly owing to increase in operational efficiency and reducing its environmental impact. Industry players are developing methods for increasing penetration of LNG fuel for inland vessels owing to extensive focus on improving safety and reducing operational & technical risk. Positive investment for port development with facilities such as bunkering and enhanced safety features at the port will further fuel the industry demand. Asia-Pacific held the highest market share in 2016. High demand from the countries including South Korea, Japan, and China will primarily contribute to the revenue generation. From 2010 to 2014, these countries have constructed 84% of new tankers, 95% of the bulk carriers, and 94% of the LNG carriers. The Chinese shipbuilding industry mainly focuses on commercial ships such as tankers, containers, and bulkers. Moreover, South Korea emerged as a significant player in the industry owing to government support, skilled & low-cost labor, and favourable exchange rate. Key player across the inland waterways vessels industry are iking, Sanmar, Rhenus Group, and European Cruise Service. The industry participants are focusing on expansion of their fleet in order to attract more customers. For instance, in March 2018, Viking unveiled its plans to construct six more vessels, that will be delivered over the next few years. In April 2017, the company signed an agreement with Italian shipbuilder, Fincantieri to construct two more vessels for strengthening their portfolio. Merger and acquisitions is another strategy adopted by the competitors. For instance, in October 2017, Rhenus Group acquired RCS logistics, a third-party distribution and storage business. Moreover, in March 2017, the company acquired 40% stakes of Arkon shipping, a company managing a fleet of over 120 seagoing vessels, to expand its presence in European inland waterways. These strategies are likely to offer stable prospects to the global market size till 2024.
Inland Waterways Vessels Market - Market Scope
Inland waterways vessels Market, By Vessel
• Passenger Ships o Car Ferries o Ro-Ro Ferries o Cruise Ships o Yachts • Non-Passenger Vessels o Freight Vessels Cargo Ships Container Ships Tankers o Tug Boats Harbour River o Work Boats General Cargo Ships Fishing Vessels
Inland waterways vessels Market, By Fuel
• LNG • Low Sulphur Fuel Oil • Diesel Oil • Heavy Fuel Oil • Biofuel
Inland waterways vessels Market, By Geography
• North America • Europe • Asia-Pacific • Middle East & Africa • Latin America
Key Players operating in the market:
• Viking • Sanmar • Rhenus Group • European Cruise Service • Sneed Shipbuilding • CMA CGM Group • Bayliner • Windcat Workboats • Seacontractors • DFDS • Norfolk Tug Company • CIWTC
Maximize Market Research, a global market research firm with dedicated team of specialists and data has carried out extensive research about the current Inland Waterways Vessels Marketoutlook. Report encompasses the Inland Waterways Vessels Market by different segments and region, providing the in-depth analysis of overall industry ecosystem, useful for taking informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Inland Waterways Vessels Market. The driving forces as well as considerable restraints have been explained in depth. In addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Inland Waterways Vessels Marketpositioning of competitors.
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