Global Barge Transportation Market by Types, Barge Fleets, Applications, and Regions — Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020–2026
The global barge transportation market was valued at USD 40 billion in 2019 and is expected to reach USD 50 billion by 2026, expanding at a CAGR of around 4% during the forecast period, 2020–2026. Growing activities related to trade activities of commodities such as metal ores and refines petroleum around the globe is expected to drive the market growth. Rising offshore production of crude oil is contributing to market revenue. Additionally, the use of advanced technologies for further communication & navigation integrated with declining cost of electronic goods is expected to drive the market demand. Rising agricultural export and import activities along with growing production across the globe are providing positive influence to market growth.
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A flat surfaced vessel known as barge is used to transport goods through waterways. In order to transport cargo, barge is a popular mean of transport for large industries. Barges are toed or tugged in water bodies by naval vessels. Additionally, barges are mainly used in water bodies such as canals, lakes, and rivers. Currently, barge transportation is mostly used at sea ports. The fundamental forces of supply and demand is expected to positively influence the market growth which are affected by various factors such as domestic weather patterns, crop production, navigation circumstances, and trade policies.
Market Trends, Drivers, Restraints, and Opportunities:
- High return on investment is expected to contribute to the growth of the market.
- Growing intermodal transportation in various industries is driving the growth of the market.
- Rising security and safety factors are expected to positively influence the adoption rate.
- Growing export and import trade within emerging economies is fuelling the market growth.
- Improvements made in barge manufacturing technologies is estimated to further accelerate the market growth.
- High operation cost related to barge transportation, such as repair, fuel, maintenance, labor, and replacement may hamper the market growth.
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Competitive Landscape:
Major companies in the global barge transportation market include American Commercial Barge Line, ABC India Ltd., PACC Offshore Services Holdings, Ingram Marine Group, Kirby Corporation, SEACOR Holding, Campbell Transportation, Heartland Barge, and PTC Logistics. The competition in the global barge transportation market is highly intense and competitors use strategies such as collaborations, ventures, partnerships, acquisitions, new product launches, and agreements to gain new market share. Rising expenditure on R&D activities by major competitors is resulting in development of new advanced technologies and advancement in operations of the fleet, in turn intensifying the competition.
The global barge transportation market has been segmented on the basis of
Types
- Dry Cargo
- Liquid Cargo
- Gaseous Cargo
Barge Fleets
- Open
- Covered
- Tank
Applications
- Coal & Crude Petroleum
- Agricultural Products
- Coke & Refined Petroleum Products
- Metal Ores
- Nuclear Fuel
- Chemicals
- Others
Regions
- Asia Pacific
- Europe
- North America
- Middle East & Africa
- Latin America
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Table of Contents
- Executive Summary
- Assumptions and Acronyms Used
- Research Methodology
- Barge Transportation Market Overview
- Global Barge Transportation Market Analysis and Forecast by Type
- Global Barge Transportation Market Analysis and Forecast by Application
- Global Barge Transportation Market Analysis and Forecast by Sales Channel
- Global Barge Transportation Market Analysis and Forecast by Region
- North Barge Transportation Market Analysis and Forecast
- Latin Barge Transportation Market Analysis and Forecast
- Europe Barge Transportation Market Analysis and Forecast
- Asia Pacific Barge Transportation Market Analysis and Forecast
- Middle East & Africa Barge Transportation Market Analysis and Forecast
- Competition Landscape
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