Global Inland Waterways Vessels Market is estimated to reach US$ 17 Bn by 2026 in terms of revenue at CAGR of 6.5 % in the forecasting period.
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 workboats 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.
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 & harbours, etc. Rising inland traffic along with heavy investments is further pointing towards a healthy outlook for the industry in future.
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Rising penetration of digital systems result in the 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 the 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.
In terms of region, 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 favorable exchange rate.
Key players operating on the market are, Viking, Sanmar, Rhenus Group, European Cruise Service, Sneed Shipbuilding, CMA CGM Group, Bayliner, Windcat Workboats, Seacontractors DFDS, Norfolk Tug Company, and CIWTC.
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Scope of Global Inland Waterways Vessels Market:
Global Inland waterways vessels Market, By Vessel:
• Passenger Ships
• Non-Passenger Vessels
Global Inland waterways vessels Market, By Fuel:
• LNG
• Low Sulphur Fuel Oil
• Diesel Oil
• Heavy Fuel Oil
• Biofuel
Global Inland waterways vessels Market, By Geography:
• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• Latin America
Key Players operating in the Global Inland waterways vessels market:
• Viking
• Sanmar
• Rhenus Group
• European Cruise Service
• Sneed Shipbuilding
• CMA CGM Group
• Bayliner
• Windcat Workboats
• Seacontractors
• DFDS
• Norfolk Tug Company
• CIWTC
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MAJOR TOC OF THE REPORT
Chapter One: Inland Waterways Vessels Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Global Inland Waterways Vessels Market Competition, by Players
Chapter Four: Global Inland Waterways Vessels Market Size by Regions
Chapter Five: North America Inland Waterways Vessels Revenue by Countries
Chapter Six: Europe Inland Waterways Vessels Revenue by Countries
Chapter Seven: Asia-Pacific Inland Waterways Vessels Revenue by Countries
Chapter Eight: South America Inland Waterways Vessels Revenue by Countries
Chapter Nine: Middle East and Africa Revenue Inland Waterways Vessels by Countries
Chapter Ten: Global Inland Waterways Vessels Market Segment by Type
Chapter Eleven: Global Inland Waterways Vessels Market Segment by Application
Chapter Twelve: Global Inland Waterways Vessels Market Size Forecast (2019-2026)
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