Inland Waterways Vessels Market: Introduction
- According to Organization for Economic Co-operation and Development (OECD), inland waterway vessels are defined as floating craft particularly designed for the carriage of goods and/or public transport of passengers, navigating predominantly in areas where port regulations apply (i.e. navigable inland waterways or in waters within, or closely adjacent to sheltered waters of a country)
- Rise in globalization has significantly boosted the import and export of various products among countries. Therefore, the need for transportation of various consumer goods and/or transport of public from region to region is expected to offer lucrative opportunity for the inland waterways vessels market.
Key Drivers of Inland Waterways Vessels Market
- Rapid expansion of the logistics and shipping industry is likely to propel the global inland waterways vessels market. Rise in trading activities across various industries around the world is likely to increase preference for inland waterways vessels attributed to the benefits offered such as congestion free and reliable transportation. Additionally, ships offer more benefits such as lower emissions, larger cargo loading capacity, and budget-friendly transportation, as compared to trucks and railcars. This, in turn is, expected to boost the global inland waterways vessels market.
- Increase in government support in terms of flexible transportation policies and investments are anticipated to drive the global inland waterways vessels market. For instance, the Norfolk Southern and the state and federal government contributed US$ 74 million and $16 million, respectively, toward the Charlotte Regional Intermodal Facility, NC, U.S. In March 2018, Government of India awarded the port sector of the country US$ 10 billion for the upgrade and maintenance of port facilities to boost inland waterways vessels business across the country.
- Rise in trend of e-commerce and increased use of smartphones is further boosting the global inland waterways vessels market. It takes very little amount of time to purchase a product from a vendor online, and it can be done from the convenience of a mobile phone, without requiring a consumer to be present at the shop physically. A vendor/distributor can comply with orders and ship the required consumer goods using inland waterways vessels. This, in turn, is boosting the global inland waterways vessels market.
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Global Inland Waterways Vessels Market: Restraint
- Development of any port land requires considerable investments in terms of amount of funding, availability of land, labor resources, connectivity to roadways, and the most crucial factor, availability of inland waterways. High initial cost of establishing the facility is expected to restrain the global market.
North America and Europe combined are anticipated to dominate Inland Waterways Vessels Market
- In terms of region, the global inland waterways vessels market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa
- North America and Europe, cumulatively, dominated the global market, due to flexible government policies and a rise in the demand for cargo transport. Moreover, the availability of technologically advanced manufacturing companies catering to global inland waterways vessels market, high government funding, abundant land, and availability of inland waterways in North America and Europe are key factors boosting the market in these regions.
Key Players Operating in Inland Waterways Vessels Market
The global inland waterways vessels market is highly concentrated due to the owing of top manufacturers. A few key players operating in the global inland waterways vessels market are:
- CIWTC (Central Inland Water Transport Corporation Limited)
- CMA CGM Group
- Construction Navale Bordeaux
- Daewoo Shipbuilding & Marine Engineering Company Limited
- Damen Shipyards Group
- EURO-RIJN B.V.
- European Cruise Service
- Hodder Tugboat Co. Ltd
- Hyundai Heavy Industries
- McKeil Marine Limited
- Mediterranean Shipping Company S.A
- Meyer Werft GmbH & Co., KG
- Norfolk Tug Company
- NYK Bulk & Projects Carriers Ltd.
- Rhenus Group
- Royal Wagenborg
- Sanmar Group
- Suderman & Young Towing Company
- Torvald Klaveness
- Viking Cruises
- Windcat Workboats
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Global Inland Waterways Vessels Market: Research Scope
Global Inland Waterways Vessels Market, by Vessel Type
- Passenger Ships
- Car Ferries
- Cruise Ships
- Non-Passenger Vessels
- Freight Vessels
- Cargo Ships
- Container Ships
- Tug Boats
- Work Boats
- General Cargo Ships
- Fishing Vessels
Global Inland Waterways Vessels Market, by Fuel Type
- Low Sulfur Fuel Oil
- Diesel Oil
- Heavy Fuel Oil
Global Inland Waterways Vessels Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.