The Ocean and Coastal Transportation industry has experienced relatively strong growth over the five years to 2017, as demand for industry services has gradually improved. Initially, rapid economic growth in emerging markets and the growing need for Canadian natural resources enabled industry shipping companies to benefit from Canada's substantial dry and liquid-bulk exports. Moreover, as income levels gradually increased during the five-year period, demand for cruises continued to climb, as price-conscious consumers were encouraged to increase spending on discretionary vacations. Over the five years to 2022, modest economic growth in emerging markets, an abating Eurozone crisis and continued growth in both the US and Canadian economies are projected to fuel demand for the industry's freight transportation services. Moreover, as domestic consumer conditions continue to improve, demand for cruise services will likely increase, bolstering industry revenue growth.
Operators in this industry primarily transport freight and passengers using deep sea, coastal and Great Lakes water transportation. This industry also includes ocean-going cruise ships.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.