Inland Waterways Vessels Market Demand, Growth Opportunities and Forecast To 2024
Category: #headlines  By Ronak Bora  Date: 2021-09-07
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Inland Waterways Vessels Market Demand, Growth Opportunities and Forecast To 2024

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.

A recent instance validating the authenticity of the aforementioned statement is the Jal Marg Vikas Project undertaken by the Indian government that may be a potential game changer for transportation through the Ganges. The $809 million project is being designed to be economically and environmentally potent and may effectively enhance trade and commerce through the Gangetic route. The rejuvenation of the Ganges may emerge as one of many driving forces inevitably stimulating the regional Market share.

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Since most of the inland waterways vessels naturally use diesel as fuel, diesel oil has been forecast to account for 90% of Market share by 2024. However, since diesel is not quite the most ecofriendly fuel, companies have been developing vessels that would be run by electricity and will be virtually free of any kind of emission. In fact, such barges have already been designed and are being released to operate from Amsterdam, Rotterdam and Antwerp, for moving goods in the inland waterways of Netherlands and Belgium. In 2018 alone, five such barges, which can accommodate up to twenty-four 20 ft containers, are being released and if they succeed in their operation, they will be potentially taking 23,000 trucks off the roads.

The rising preference for energy efficient and technologically advanced solutions for the transportation of goods is certain to add stimulus to inland waterways vessels industry. Another factor augmenting the commercialization scale of this vertical is the expanding tourism industry that is becoming more and more ecologically tolerant by the day. With a base valuation of $1,500 billion in 2016, inland waterways vessels market size is projected to be pegged at $2,250 billion by 2024 driven by a plethora of trading activities, favorable government support, and the growing demand for congestion-free transportation.

It is rather overt that the development and maintenance of internal water inlets are imperative for the growth of inland waterways vessels industry. The St Lawrence Seaway in Canada is an example of a successful waterway which has added a commendable boost to the regional inland waterways vessels market for the last 60 years and has proved to be quite a competitive means of moving cargo like iron ore, coal, stone, cement and salt. Indeed, St. Lawrence Seaway seems to have trumped surveys when it comes to competitive options for tonnage movement, as reported by logistic professionals who study movement routes to be adopted for the most profitable means of transportation. Thus, more vessels came to be deployed to operate on this route – close to 2,270 vessels alone had been used in 2017.

It will be prudent to mention that cargo movement makes up for a bulk of inland waterways transportation requirement. On these grounds, non-passenger inland waterways vessels market is expected to attain the dominant position in this industry. As per estimates, non-passenger vessels are forecast to account for a mammoth 80% of the inland waterways vessels industry share by 2024.

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Partial Chapter of the Table of Content

Chapter 4  Inland Waterways Vessels Market, By Vessel

4.1  Market share by vessel, 2017 & 2024

4.2  Passenger ship

4.3  Non-passenger ship

Chapter 5  Inland Waterways Vessels Market, By Fuel

5.1  Market share by fuel, 2017 & 2024

5.2  LNG

5.3  Low sulphur fuel oil (LSFO)

5.4  Diesel oil

5.5  Heavy fuel oil

5.6  Biofuel

Charts & Figures

FIG. 1    Inland waterways vessels market segmentation

FIG. 2    Industry landscape, volume & revenue (Units) (USD Million), 2013 - 2024

FIG. 3    Industry ecosystem analysis

FIG. 4    Cost structure analysis, 2017

FIG. 5    Regional bunker demand, 2017

FIG. 6    European cruise market (2011-2016)

FIG. 7    Inland waterways vessels market Porter’s analysis

FIG. 8    Growth potential analysis

FIG. 9    Global inland waterways vessel market company market share analysis, 2017

FIG. 10    PESTEL analysis

FIG. 11    Inland waterways vessels market volume share by vessel, 2017 & 2024

FIG. 12    Market volume share by fuel, 2017 & 2024

FIG. 13    Market volume share by region, 2017 & 2024

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/inland-waterways-vessels-market

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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