Deep-sea, Coastal & Inland Water Transportation Market is Projected to Reach US$ 3,185.46 Billion at a CAGR of 9.4% by 2034 | Fact.MR Report

Rockville, MD , Jan. 06, 2025 (GLOBE NEWSWIRE) — According to a new industry report compiled by Fact.MR, a market research and competitive intelligence provider, valuation of the global Deep-sea, Coastal & Inland Water Transportation Market is analyzed to reach US$ 1,298.07 billion in 2024 and increase at a noteworthy CAGR of 9.4% during the assessment period (2024 to 2034).

Governments and private organizations are investing in modernizing port infrastructure to lift capacity and efficiency. Upgraded ports need to handle larger vessels, improve cargo handling practices, and reduce turnaround times to meet the growing demands of international trade. By simplifying inland waterway, coastal, and deep-sea transportation operations, these advancements guarantee the quicker and smoother transit of commodities.

Intelligent shipping systems, self-governing ships, and sophisticated navigation systems are just some of the technical innovations that are revolutionizing maritime transportation by making it more reliable and efficient. Smart systems are the main investment made by end users to upgrade because they enable automation and real-time monitoring, which enhances safety and cargo management.

Due to its enormous marine infrastructure and pivotal role in global trade, East Asia holds a strong position with a substantial market share in deep-sea, coastal, and inland water transportation. A significant amount of the world’s freight is handled by big, stable economies, including China, Japan, and South Korea, which makes them crucial trading hubs.

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Key Takeaways from Market Study:

• The worldwide market for deep-sea, coastal & inland water transportation is projected to reach a value of US$ 3,185.46 billion by 2034.
• Turnover of the market in the East Asia region is analyzed to reach 875.57 billion by 2034.
• The market in North America is evaluated to register a revenue of US$ 79.73 billion in 2024.
• The market in China is approximated to generate a revenue of US$ 445.69 billion by 2034-end.
• The market in the United States is projected to expand at a notable CAGR of 10.1% between 2024 and 2034.
• The market in Japan is estimated to account for revenue of US$ 105.07 billion in 2024.
• By product and service, the demand for container transportation is forecasted to reach US$ 1,286.53 billion by 2034.

“To meet the growing demand, key deep-sea, coastal, and inland water transportation companies are continuously expanding their fleets with larger, newer, and more fuel-efficient vessels,” says a Fact.MR analyst

Leading Players Driving Innovation in the Deep-sea, Coastal & Inland Water Transportation Market:

Maersk Line Ltd.; Alnmaritec Ltd.; MSC Mediterranean Shipping Company Inc.; Bayliner Boats; COSCO Shipping Holdings Co., Ltd.; Rhenus Group; American Commercial Barge Line Inc.; Kirby Inland Marine; Ingram Barge Company Ltd.; Nippon Yusen; China COSCO Shipping Corporation Limited; Hapag-Lloyd AG; CMA CGM S.A.; Deutsche Post AG; Carnival Corporation; Hyundai Merchant Marine America

Container Transportation Continue to be Ideal Option Globally:

Compared to other services, container transportation is rising in demand since it facilitates international trade and offers cost-effectiveness, efficiency, and flexibility. Because it offers the standardized, secure, and efficient transportation of a wide range of goods, from consumer goods and machinery to electronics and textiles, this category accounts for a sizeable portion.

Containers’ intermodal design makes it simple for them to travel between trucks, trains, and ships, improving supply chain flexibility and reducing the risk of theft or damage during transit. Due to the growing popularity of containerized shipping, shipping costs have significantly dropped, providing businesses with more affordable freight options and allowing shipping companies to take advantage of economies of scale.

Deep-sea, Coastal & Inland Water Transportation Industry News:

• In October 2024, Prime Minister Narendra Modi unveiled a long-term strategy plan for the blue economy and inaugurated maritime projects worth Rs 23,000 crore. According to an official release, the program outlines strategic objectives aimed at improving port facilities, encouraging sustainable practices, and facilitating international cooperation.

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More Valuable Insights on Offer:

Fact.MR, in its new offering, presents an unbiased analysis of the deep-sea, coastal & inland water transportation market, presenting historical demand data (2019 to 2023) and forecast statistics for 2024 to 2034.

The study divulges essential insights into the market based on product and service (container transportation, dry bulk transportation, liquid bulk transportation, passenger transportation) and major market (developing economies, developed economies), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).

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