The domestic waterborne freight market in the US has shown fluctuating trends over the years. After reaching a peak in 2014, the market saw a general decline with a significant drop in 2020. However, the market partly recovered in 2021 and continued a moderate recovery into 2022. By 2023, the volume stood at 865.34 million short tons, indicating a -0.56% year-on-year change. The 5-year CAGR from 2018 to 2023 was -0.58%, reflecting slight overall declines.

Looking ahead, the forecasted data from 2024 to 2028 suggest a continued downward trend with an estimated 5-year CAGR of -0.46%. This translates into a forecasted total growth decline of approximately -2.29% by 2028.

Future trends to watch for include:

Potential impacts of environmental regulations on waterborne freight operations.
Technological advancements in shipping and logistics that could optimize capacity and efficiency.
Market responses to economic and trade policies that influence domestic shipping demand.