(USGovernment-News.Com, January 22, 2023 ) As per Maximize Market research, a global business research and consultancy firm, the total global market for Water Transport was USD 507.70 Bn in 2021 and is expected to grow at a CAGR of 6 percent over the forecast period to reach USD 809.20 Bn by 2029
For the research, the Water Transport Market has been divided into two major segments: type and application. Further, the major segments of the Water Transport Market have been divided into various sub-segments. The report provides an analysis of the current activities and trends with revenue at the global, regional and local levels. The report contains an analysis of market estimates and trends in 22 countries. The market report is majorly a result of intense secondary research and rigorous primary interviews with industry stakeholders. More than 1000 verified secondary sources were used to collect the data. More than 10 extensive primary interviews were conducted to acquire quantitative and qualitative insights. For market estimation, bottom-up approach was used for the analysis.
The high demand for affordable cargo transportation majorly drives the market. Compared to other means of transportation, water transportation is affordable and cheap for heavy items. During the forecast period the fluctuating price of crude oil is expected to hamper the market growth.
Water Transport Market Regional Insights
In 2021, the Asia Pacific region held the largest market share of the global water transport market. The water transport market of the region is expected to grow at a high CAGR during the forecast period. Water transport accounts for 70 percent of India’s trade value and 95 percent of its trade volume.
Maximize Market Research is leading Automotive and Transportation research firm, has also published the following reports:
Water Taxi Market -The market size is expected to reach USD 612.18 billion by 2029 at a CAGR of 4.05 percent during the forecast period. It is expected to be driven by improvement in global economic conditions, popularity of green movement and increasing preference for water taxis.
Rail Transportation Market - The market size is expected to reach USD 34.26 billion by 2029 at a CAGR of 4.5 percent during the forecast period. The market is expected to be driven by the increasing investment in infrastructure.
About Maximize Market Research:
Maximize Market Research provides B2B and B2C research on 6,500 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Industry resource center today to browse our selection of 600+ complimentary Industry magazines, white papers, webinars, podcasts, and more. Get popular titles including: