Deep sea transportation refers to the maritime transport of various types of products/goods on intercontinental routes, crossing oceans; as divergent to the short sea transportation over relatively short distances. Key operators in this market provide deep-sea, coastal and inland water transportation. Both deep-sea and coastal water transportation comprises the movement of freight and passengers over major waterways in scheduled & unscheduled manner. Inland water or great lakes transportation includes the movement of passengers and freight via rivers, lakes, canals, and waterways such as inside harbors. This transportation service provides significantly high-load carrying capacity, as compared to that provided by other transportation services. This transportation service is significantly inexpensive, as compared to the rail and road transportation. This industry excludes various marine operations like port operations and stevedoring.
As per analysis, “Deep Sea, Coastal, And Great Lakes Global Market Report 2020-30: Covid 19 Impact and Recovery” some of the key organizations that are currently working in the global deep sea, coastal and great lakes industry include MSC Mediterranean Shipping Company SA; Carnival Corporation; A.P. Moller; K-Line America; Seacor Holdings Inc.
Growth in integration of modern technology in water transportation would increase the adoption of deep sea and coastal transportation service. Water transportation service players are gradually more using a variety of sensor technologies to enable the monitoring of remote locations of the ships. A sensor is a device or gadgets that detects or responds to various kind of input from the physical environment. The definite input could be motion, heat, pressure, moisture, light, or any one of numerous other environmental phenomena present in the ship. Sensors in remote locations of various ships collect data autonomously and convey the data to control room in the real-time. This data is captured by the sensor allows ship owners for improving the overall maintenance cycle of visits such as condition monitoring and condition-based monitoring. A sensor integrated in these transportation services is expected to enhance the ship performance and safety considerably. Moreover, sensors assist to minimize the operating costs. Additionally, sensors integrated in the water transportation continuously monitor the performance and offer the quick information in terms of any errors or damages. Introduction of GNSS, GPS systems in water transportation is expected to propel the deep sea, coastal and great lakes transportation service market across the globe.
Growth in economy, increase in investment in the transportation industry and rise in government initiatives are some major factors, which are responsible for growth of deep sea, coastal and great lakes market. Apart from this, growth in infrastructure & maintenance cost is a restraint factor for global market. Additionally, growth in trade activities is a key opportunity for market. Moreover, increase in government support for transformation of port facilities is a major trend for global market.
By regional analysis, the Asia-Pacific region dominates the global deep sea, coastal and great lakes market due to shipment of bulk freight coupled with insufficient pipeline across the region. The North-America, followed by Europe region is anticipated to witness higher growth rate owing to growth in transportation of agricultural products during the forecast period.
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Ankur Gupta, Head Marketing & Communications