Barge Transportation Market- Description
Barge is defined as a flat surface vessel that usually transports cargo through waterways only.
The usage of inland waterways within the transportation of chemical, agricultural, and farm products has propelled the expansion of the market.
Also, the import-export of crude oil and petrochemical is extensively dependent upon marine transportation and the rise in demand for oil as well as petroleum products strengthens trade has boosted the growth of the barge transportation market.
Barge Transportation Market- Overview
The Barge Transportation Market is valued at USD 126.17 billion in 2022 and is projected to reach a value of USD 165.12 billion in 2030 expanding at a CAGR of 3.42% over the forecast period.
A barge is defined as a long boat with a flat bottom that is used for transporting passengers and heavy goods through rivers, canals, and lakes.
It is also widely preferred over heavy freight shipping as it is economical and environment-friendly and can be easily employed for transporting bulk commodities that includes, grains, coal, and petroleum.
Presently, the significant growth in the international trade of chemicals, minerals, petroleum, agricultural, electronic, pharmaceutical, and food products has been positively influencing the demand for barge transportation around the world.
Click Here To Access The Free Sample Report @ https://wemarketresearch.com/sample-request/barge-transportation-market/462/
Barge Transportation Market- Key Market Trends
• Increasing offshore production of oil and gas has boosted the market growth
Every market has its growth determinant and challenges. One of the major factor that has fuelled the market growth over the forecast period is the increasing offshore production of oil and gas. The rapid industrialization acts as a major growth-inducing factor that catalyses the demand for barge transportation. Also, the rising consumption of packaged food products on account of hectic lifestyles, the escalating demand for medical supplies, and the thriving agriculture industry have fuelled the market growth over the forecast period.
• High operating costs associated with barge transportation has hindered the market
One of the major restrain to the market growth over the forecast period is the high operating costs associated with barge transportation. While, the increase in government support for the development of regional waterways infrastructure strengthens the industry growth and has provided lucrative opportunities for the market over the forecast period.
Barge Transportation Market- Segmental analysis of the market
Based on Product
• Dry Cargo
• Liquid Cargo
• Gaseous Cargo
The dry cargo segment has dominated the market growth over the forecast period.
Based on Barge Fleet
• Open Barge
• Covered Barge
• Tank Barge
The open barge segment has dominated the market growth over the forecast period.
Based on Application
• Coal and Crude Petroleum Products
• Agricultural Products
• Coke and Refined Petroleum Products
• Metal Ores and Fabricated Metal Products
• Chemicals, Rubber and Plastic, Nuclear Fuel
• Food Products, Beverages, and Tobacco
• Others
The coal and crude petroleum products segment has dominated the market growth over the forecast period.
Barge Transportation Market- Geographical analysis of the market
The barge transportation market is segmented into 4 main regions namely, North America, Europe, Asia Pacific, Latin America, and Middle east and Africa. Among these, Latin America has dominated the market growth over the forecast period. This is because Brazil is one of the largest suppliers of metal ore in the world, and is responsible for substantial exports. For every developing country, the amount of export and import increases at a very high scale. In addition, increase in sales of automobiles and rise in construction activities boost the demand for metal ores over the forecast period.
Barge Transportation Market- Competitive Landscape
Some of the prominent companies operating in the market are ABC India Ltd., American Commercial Barge Liner (ACBL), Alter Logistics Continental Corporation, American Commercial Lines LLC, Argosy International Inc., ATS Inc., Blessey Marine Services, Inc, Bouchard Transportation Co. Inc., Campbell Transportation Company Inc.
Report Scope
Barge Transportation Market: Historical Period- 2018-2021
Barge Transportation Market: Industry and Forecast Period- 2022-2030
Barge Transportation Market 2022- USD 126.17 billion
Barge Transportation Market 2030- USD 165.12 billion
Barge Transportation Market CAGR- 3.42%
Major Segments Covered
• Product (Dry Cargo, Liquid Cargo and Gaseous Cargo)
• Barge Fleet (Opened, Covered, and Tank Barge)
• Application (Coal and Crude Petroleum, Agricultural Products, Coke and Refined Petroleum Products, Metal Ores, Secondary Raw Materials and Wastes, Food Products, Beverages, and Tobacco, and Basic Metals, Fabricated Metal Products)
Key Countries and Regions Covered
• North America (United States, Canada)
• Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa
Top companies profiled- ABC India Ltd., American Commercial Barge Liner (ACBL), Alter Logistics Continental Corporation, American Commercial Lines LLC, Argosy International Inc., ATS Inc., Blessey Marine Services, Inc, Bouchard Transportation Co. Inc., Campbell Transportation Company Inc.
Read Full Research Report @ https://wemarketresearch.com/reports/barge-transportation-market/462/
Key Questions Answered in the Report:
- What will be the development pace of market? What is the growth rate of the global market?
- Who are the key manufacturers in the market space? Who are the world’s leading manufacturers?
- What are sales, revenue, and price analysis of the top manufacturers of market?
- Who are the distributors, traders, and dealers of market? What are the key factors driving the Global market?
- What are the market opportunities and threats faced by the vendors in the industries?
- What are deals, incomes, and value examinations by types and applications of the market?
- What are the primary factors driving market?
- What are the market’s advantages, disadvantages, and risks, as well as an overview of the market?
- Who are the Top Manufacturers in the Market in Terms of Sales, Revenue, and Price Analysis?
- Analysis of Industry Revenue, Sales, and Pricing, what is the difference between Equipment by region, type, and application?
COVID-19 Impact Analysis on Barge Transportation Market report published by Value Market Research provides a detailed market analysis comprising market size, share, value, growth and trends for the period 2020-2027.
Moreover, this market report also covers regional and country markets in detail.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the barge transportation market include ABC India Ltd., American Commercial Barge Liner (ACBL), Alter Logistics, Continental Corporation, American Commercial Lines LLC.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Barge Transportation Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/barge-transportation-market/download-sampleMarket DynamicsThe increasing concern about maintaining environmental laws will drive the growth of the market.
The market is receiving greater attention due to the growing demand for the environmentally sounding transportation system and also due to policies where environmental goals are given greater weight in transportation decisions.
Also, barge-related accidents and fatalities are significantly lower than those attributed to rail and trucking transportation, this is another attractive factor that contributes to the increased demand.
This market report also allows you to identify the future opportunity and growth rate of the leading segment based on regions and countries.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the barge transportation market include ABC India Ltd., American Commercial Barge Liner (ACBL), Alter Logistics, Continental Corporation, American Commercial Lines LLC.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Barge Transportation Market Research Report" by requesting FREE Sample Copy athttps://www.valuemarketresearch.com/contact/barge-transportation-market/download-sampleMarket DynamicsThe increasing concern about maintaining environmental laws will drive the growth of the market.
The market is receiving greater attention due to the growing demand for the environmentally sounding transportation system and also due to policies where environmental goals are given greater weight in transportation decisions.
Also, barge-related accidents and fatalities are significantly lower than those attributed to rail and trucking transportation, this is another attractive factor that contributes to the increased demand.
The nations are widely adopting barge transportation, as it enhances economic vitality and trade growth, and the productivity of commerce.
A barge is a flat-bottomed ship, built mainly for river and canal transport of heavy goods.
Some barges are not self-propelled and must be towed or pushed by towboats, canal barges or towed by draft animals on an adjacent towpath.Growing export and import trade coupled with improving economic conditions in most part of the world are particularly playing a significant role in stimulating market growth.
Increasing domestic trade is boosting the need for an efficient mode of transportation.
Additionally, advancements in barge manufacturing technologies are anticipated to further trigger the growth of the market over the forecast period.The market holds immense growth potential over the forecast period owing to several factors, including increasing investments and initiatives undertaken by various governments for development of effective inland water infrastructure and research activities undertaken by major industry incumbents to develop new designs and upgrade existing designs of barges.
For instance, hybrid LNG barges can be considered as a fuel-efficient and environment-friendly alternative for conventional diesel-fired ones.Get An Exclusive Sample Of the Research Report at: https://www.trendsmarketresearch.com/report/sample/3220Barges can be majorly divided into three types, namely covered, open, and tank.
Covered type is primarily used to haul dry goods such as agricultural produce, pharmaceutical products, and electronic & digital appliances.
A latest report published by Fact.MR takes into account the barge transportation market from a global as well as local viewpoint.
The market size of the barge transportation market is anticipated to reach at highest revenue until the end of 2027.
Further, the barge transportation market is expected to grow at higher CAGR over the forecast period 2019-2027.
In this barge transportation market study, the following years are considered to project the market footprint:History Year: 2013 - 2018Estimated Year: 2027Forecast Year: 2019 – 2027However, the report by Fact.MR distinguishes vendors in the global Barge Transportation market among three key groups subjected to their regional concentration and focuses on the Barge Transportation market.
Key players in the Barge Transportation market which broadly concentrates on Barge Transportation and has business and sales footprint across the world.
The companies such as American Commercial Barge Line LLC., INGRAM Marine Group, Kirby Corporation, SEACOR Holdings Inc., Campbell Transport Company, Heartland Barge, Bouchard Transportation, Canal Barge, Magnolia Marine Transport, Marquette Transportation among others key companies exhibit top position in the global market for Barge Transportation.The market for the barge transportation in the MEA region will face stiff competition between the global market participants for gaining higher market share.
