The US waterborne freight market experienced fluctuations in value volume from 2013 through 2023. From 2013 to 2019, the value showed minor year-on-year variations, with slight decreases every year. A dramatic dip occurred in 2020, with a significant 44.16% decrease attributed to the pandemic's impact on logistics and transportation. Nevertheless, the market rebounded in 2021 with a remarkable 69.16% increase, almost returning to pre-pandemic levels. By 2023, the value volume settled at 2.24 billion short tons, reflecting a modest decline from 2022. The average annual variation over the last five years shows a marginally negative trend with a CAGR indicating a stable market with minor fluctuations.
Looking forward, the forecasted data from 2024 to 2028 suggest a slight decrease in the waterborne freight volume, with an anticipated average annual decrease (CAGR) of -0.22%. Future trends that should be watched include:
- Environmental regulations impact on shipping practices and fuel types.
- Technological advancements in logistics and freight automation.
- Economic factors influencing global trade and freight demand.
- Infrastructure investments in ports and waterways.
