Rise in manufacturing and business activities to bolster U.S. ocean freight revenues


CLEVELAND, July 21, 2021 / PRNewswire / – U.S. waterway freight revenues are expected to grow 3.3% annually in nominal terms through 2025, according to Inland waterway freight: United States, a report recently published by Freedonia Focus Reports. Ocean freight activity will be supported by advances in agricultural, manufacturing and mining production, and by international trade activity. Shipping companies face competition from alternative modes of transport, namely rail and truck, but also air freight. However, inland freight carriers will benefit from the ability to integrate their operations with rail and trucking companies to capture intermodal transportation business. In 2021, revenues are expected to increase 6.6% as the industry recovers from declines caused by the COVID-19 pandemic. Manufacturers’ shipments are expected to increase 5.7% in 2021 after contracting 7.5% in 2020. The volume of mining materials handled is expected to increase 3.6% in 2021, a reversal from declines of 4 , 1% in 2020.

Revenues generated by US shipping operations on the coast and the Great Lakes are expected to remain the largest segment. Maritime activity on the Great Lakes will be supported by growth in the construction and manufacturing sectors, which should boost shipments of raw materials such as industrial minerals, sand and lumber. Continued gains in the manufacturing sector will stimulate demand for the transportation of finished products such as motor vehicles, parts and machinery, as well as the raw materials needed as inputs.

This and other key information is presented in Inland waterway freight: United States. This report forecasts through 2021 and 2025 U.S. waterway freight revenues for businesses with and without employers in nominal and real dollars (adjusted for inflation). Total revenues in nominal and real terms are segmented by type of establishment in terms of:

  • coastal and Great Lakes
  • deep sea
  • waterway

To illustrate historical trends, total income in nominal and real terms and the various segments are provided in annual series from 2010 to 2020. Additionally, United States international merchandise trade is provided in annual series from 2010 to 2020.

Revenues from river transport support activities are also forecast for 2021 and 2025, and provided for the historical period 2010-2020. Total revenues in nominal terms are segmented by type of establishment in terms of:

  • sea ​​freight handling
  • shipping services
  • port and port operations
  • other support activities

The total revenue of the United States Freight Forwarding Industry for the period 2010-2020 is also provided and segmented by mode as follows:

  • a truck
  • rail
  • pipeline
  • the water
  • air

The scope of this report includes the revenues of the for-hire water transport companies, as well as the fleets of rental vehicles that are dedicated to a particular customer. Captive water transport services (i.e. companies that maintain their own boats, ships or barges to transport goods or company employees) are excluded.

More information on the report is available at:

https://www.freedoniafocusreports.com/Freight-by-Waterway-United-States-FF85027/?progid=91541

About Freedonia Focus Reports

Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new and updated Freedonia Focus reports providing fresh and unbiased analysis across a wide variety of markets and industries. Published in 20 to 30 pages, the Focus report covers raw materials, finished manufactured goods and related services such as freight and construction. Additional Industrial reports can be purchased at Freedonia Focus Reports or MarketResearch.com.

The analysis aims to guide the busy reader through relevant topics in rapid succession, including:

  • total historical market size and industrial production
  • segmentation by products and markets
  • identification of market drivers, constraints and key indicators
  • segment by segment outlook in the five-year forecast
  • a supply base survey
  • suggested resources for further study

Press contact:
Corinne Gangloff
+1 440.842.2400
[email protected]

SOURCE The Freedonia Group

Related links

http://www.freedoniagroup.com


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