The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The global water transport market size is expected to grow from $544.7 billion in 2022 to $575.68 billion in 2023 at a compound annual growth rate (CAGR) of 5.7%. The water transport market is expected to grow to $694.19 billion in 2027 at a CAGR of 4.8%.

What will drive the water transport market?

Sensor technologies are increasingly being used by water transportation service providers to monitor ships in remote regions.

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Who are the major players in the market?

Major Market Players in the water transport market include A.P. Møller-Mærsk A/S, China Ocean Shipping Company Limited, Cargill Incorporated; CMA CGM S.A., Hapag-Lloyd AG, Nippon Yusen.

Which trend is gaining popularity in the water transport market?

Sensor technologies are increasingly being used by water transportation service providers to monitor ships in remote regions. A sensor is a device that detects and reacts to input from the physical world. The specific input could be light, heat, motion, wetness, pressure, or any of the ship’s other environmental phenomena. Sensors in ships’ remote locations collect data independently and communicate it to the control room in real time. The sensor’s data allows shipowners to optimise the total maintenance cycle of visits, which includes condition monitoring and condition-based monitoring.

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How is the water transport market segmented?

Global Water Transport Market Segments Include:

• By Type: Deep Sea, Coastal, And Great Lakes, Inland Water Transport
• By Application: Onshore, Offshore
• Subsegments Covered: Deep Sea Transport, Coastal and Great Lakes Transport, Inland Water Freight Transport, Inland Water Passenger Transport
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global water transport market in 2021.

The Water Transport Global Market Report 2023  provides an overview of the water transport market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The water transport market forecast analyzes water transport market size, water transport market share, leading competitor and their market positions.

Water transport is a kind of transportation that transports people, products, and freight using ships, barges, and boats that can float on water surfaces. This means of transportation is less expensive than rail, road, and air transportation, and it is useful for transporting large items over great distances in international trade. It is also employed in military operations to defend marine borders.

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