The introduction of new tank barges with more storage capacity has increased the usage of water transportation mode as it is cheaper, reliable and less polluting. Tank barges are craft used to transport cargo or passengers through river and other inland waterways. Usage of this mode has increased among the companies to transport the liquid-bulk cargo.
THE BUSINESS RESEARCH COMPANY VALUED THE GLOBAL WATER TRANSPORTATION MARKET AT $396 BILLION IN 2017
Asia Pacific was the largest geographic region in the market, accounting for nearly half of the global market.
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According to The Business Research Company’s Consultant, Nitin Gianchandani, an automated routing system, aligned with historic routes of large cargo sailors, will allow cargo ships to reach their destination as quickly, and at a much cheaper cost. Companies can implement this for faster transportation. Companies can invest in towing kite wind propulsion systems for modern means of sea travel and transportation. These systems make the operation of ships more profitable, safe, environment friendly, and independent of scarce oil resources. The Skysails system consists of a large towing kite similar to a paraglider, which is navigated by a fully- automated control pod and is connected to the ship via a towing rope.
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A.P. Møller-Maersk was the biggest player in the global water transportation market, with revenues exceeding $36 billion in 2016. Moller’s strategy aims at solutions for its energy businesses, integrating and transforming the transport and logistics business and strengthening the governance. The acquisition of Hamburg is an important part of Maersk’s growth strategy.
The water transportation market is segmented into Deep Sea, Coastal, And Great Lakes; Inland.
Deep Sea, Coastal, And Great Lakes industry comprises establishments primarily engaged in providing deep sea, coastal, Great Lakes, and St. Lawrence Seaway water transportation.
Inland industry comprises establishments primarily engaged in providing inland water transportation.
Water Transportation Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $6000 for an individual user. To use across your office, the price is $9000 and $12000 if you wish to use across a multinational company.
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