(MoneyNewsWire.Net, July 20, 2018 ) The water transportation market includes establishments primarily engaged in providing waterborne transportation of cargo and passengers along the lakes, rivers and other inland waterways. This can involve ships, ferries, cruise ships, submarines and other water-borne crafts. Ship transport is primarily used for the carriage of people and non-perishable goods, generally referred to as cargo.
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The market was valued at $394 billion in 2017, and is expected to be driven by the growth of emerging markets, such as Singapore, Shanghai and Hong Kong, which have some of the busiest and largest ports in the world. Most of the merchant fleet like general cargo ships, container ships, crude oil tankers, and bulk carriers operate from there. Asia Pacific was the largest geographic region in 2017, accounting for around half of the global market share.
The water transportation market in The Business Research Company’s report is divided into the following segments: deep sea, coastal, great lakes and inland.
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China was the largest country in water transportation market in 2017, accounting for around one-fifth of the global market share.
The top five competitors in the market are A.P. Mřller-Maersk, Mediterranean Shipping Company (MSC), CMA-CGM, Evergreen Marine Corporation, and Nippon Yusen Kabushiki Kaisha (NYK). Maersk has been the largest container ship and supply vessel operator in the world in 2017. It is a Danish company, with revenues more than $25 billion. It operates in the transport and logistics and energy sectors. The company is based in Copenhagen, Denmark.
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