Overview and Scope
Deep sea, coastal, and great lakes transportation refer to modes of maritime transportation using intercontinental routes and crossing oceans, along the shoreline, in the sea, or in the ocean, and in the great lakes to carry goods and cargo from one place to another using watercraft such as ships, barges, and boats.
Sizing and Forecast
The deep sea, coastal, and great lakes market size has grown strongly in recent years. It will grow from <b>$563.52 billion in 2023 to $596.12 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. </b> The growth in the historic period can be attributed to global trade and economic growth, commodity transport, maritime infrastructure development, manufacturing and consumer goods.
The deep sea, coastal, and great lakes market size is expected to see strong growth in the next few years. It will grow to <b>$729.44 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. </b> The growth in the forecast period can be attributed to digitalization and automation, resilience and climate change mitigation, supply chain diversification, maritime safety and security. Major trends in the forecast period include alternative fuels and energy transition, emission reduction and sustainability, digitalization and automation, port infrastructure expansion.
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Segmentation & Regional Insights
The deep sea, coastal, and great lakes market covered in this report is segmented –
1) By Type: Deep Sea Transport, Coastal and Great Lakes Transport
2) By Application: Onshore, Offshore
<b>Asia-Pacific</b> was the largest region in the deep sea, coastal, and great lakes transportation market in 2023. <b>Western Europe</b> was the second largest region in the deep sea, coastal, and great lakes transportation market. The regions covered in the deep sea, coastal, and great lakes transportation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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Major Driver Impacting Market Growth
Water transportation service companies are increasingly using sensor technologies to enable monitoring of remote locations of ships. A sensor is a device that detects and responds to some type of input from the physical environment. The specific input could be light, heat, motion, moisture, pressure, or any one of several other environmental phenomena present on the ship. Sensors in remote locations of ships collect data autonomously and relay the data to the control room in real-time. The data captured by the sensor allows ship owners to improve the overall maintenance cycle of visits, including condition monitoring and condition-based monitoring. For instance, NoraSens and Silicon Radar are some of the company’s manufacturing sensors for ships.
Key Industry Players
Major companies operating in the deep sea, coastal, and great lakes market include <b> AP Moller – Maersk A/S, China Ocean Shipping Company Limited, Cargill Incorporated, CMA CGM S.A., Hapag-Lloyd AG, Evergreen Marine Corp, K-Line, Hyundai Merchant Marine Co. Ltd., Nippon Yusen, Kuehne + Nagel International AG, Mediterranean Shipping Company SA, Carnival Corporation, Seacor Holdings Inc., Crowley Maritime Corporation, Matson Inc., American President Lines, Ltd., Maersk Line, Royal Caribbean Cruises Ltd., Norwegian Cruise Line Holdings Ltd., Princess Cruises, Celebrity Cruises, Holland America Line, MSC Cruises, Crystal Cruises, Silversea Cruises, Regent Seven Seas Cruises, Oceania Cruises, Azamara Cruises, Viking Cruises, Hurtigruten.</b>
The deep sea, coastal, and great lakes market report table of contents includes:
1. Executive Summary
2.Deep Sea, Coastal, And Great Lakes Market Characteristics
3.Deep Sea, Coastal, And Great Lakes Market Trends And Strategies
4.Deep Sea, Coastal, And Great Lakes Market analysis
5.Deep Sea, Coastal, And Great Lakes Market Size And Growth
6.Deep Sea, Coastal, And Great Lakes Segmentation
7.Deep Sea, Coastal, And Great Lakes Regional And Country Analysis
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27.Deep Sea, Coastal, And Great Lakes Competitive Landscape And Company Profiles
28.Deep Sea, Coastal, And Great Lakes Key Mergers And Acquisitions
29.Deep Sea, Coastal, And Great Lakes Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
AP Moller – Maersk A/S
China Ocean Shipping Company Limited
Cargill Incorporated
CMA CGM S.A
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