The global barge transportation market size is anticipated to reach USD 140.62 billion by 2025, according to a new report by Grand View Research, Inc., rising at a CAGR of 3.4% during the forecast period.
The
market is projected to witness significant growth over the forecast period,
thanks to growing intermodal transportation in several industries including
petrochemicals, crude oil, and food processing. Several initiatives undertaken
by various governments to encourage inland water transport and continued
investments being made by various governments to develop inland water transport
infrastructure. North America is expected to offer tremendous growth opportunities
for the barge transportation market owing to the presence of several barge
manufacturers and service providers, growing exports and imports, and abundance
of waterways.
Barge
transportation can be considered a cost-effective and high-capacity mode of
transportation as compared to other modes of transport, such as road, rail, and
air. Barges can support higher loads and ensure safety, particularly when it
comes to transportation of large volumes of cargos. As a result, the adoption
of barges is expected to increase over the forecast period.
Increasing
spending on research and development activities and subsequent advancements in
technology are resulting in the development of technologically advanced barges.
LNG-fired barges are emerging as an environmentally-friendly alternative for
conventional barges powered by diesel engines. Advancements in communication
and navigation technologies coupled with the growing adoption of IoT and other
smart technologies are triggering the efficiency and safety factor of barges.
The
barge transportation market remains highly vulnerable to developments in the
end-use industries, particularly the crude oil and petrochemical industries.
The growth in the petrochemical industry and emerging opportunities in ethanol
production are expected to positively influence the growth of the market. For
instance, Kirby Corporation has recently acquired Higman Marine, Inc. owing to
increasing opportunities in petrochemical and ethanol transportation
activities.
Full Research Report On Barge Transportation Market Visit Here:
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Barge
Transportation Market Report Highlights
- The demand
for barges is projected to increase significantly in line with growth in
the economy and rising demand for petrochemicals
- The demand
for tank barges is rising due to the increasing demand for crude oil and
the growing production of ethanol. Burgeoning output of shale oil in the
U.S. is expected to increase the adoption of barges for transportation
- Barge
manufactures are focusing on developing technologically advanced products
that can ensure the safety of cargo throughout the transportation
- The dry cargo
segment is expected to hold the largest market share and expand at a CAGR
of 2.9% from 2018 to 2025
- The liquid
cargo segment is projected to grow at the highest CAGR over the forecast
period.
- A large
number of barge manufacturers are located in North America and Europe, as
these regions have well-developed waterways. The two regions account for a
sizeable cumulative share in the global market
- Key players
in the market include Campbell Transportation Company, Inc.; Alter
Logistics; American Commercial Lines LLC; Heartland Barge; and Kirby
Corporation; SEACOR Marine Holdings Inc.
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Barge
Transportation Market Segmentation
Grand View Research has
segmented the global barge transportation market on the basis of type of cargo,
barge fleet, application, barge activities, and region:
Barge
Transportation Type of Cargo Outlook (Revenue, USD Million, 2014 - 2025)
- Liquid cargo
- Gaseous cargo
- Dry cargo
Barge
Transportation Barge Fleet Outlook (Revenue, USD Million, 2014 - 2025)
- Covered barge
- Open barge
- Tank barge
Barge
Transportation Application Outlook (Revenue, USD Million, 2014 - 2025)
- Coal
- Crude and petroleum products
- Liquid chemicals
- Food pulp and other liquids
- Agricultural products
- Metal ores and fabricated metal products
- Pharmaceuticals
- Dry and gaseous chemicals
- LPG, CNG, and other gaseous products
- Electronics and digital equipment
- Others
Barge
Transportation Barge Activities Outlook (Revenue, USD Million, 2014 - 2025)
- Intracoastal transportation
- Inland water transportation
Barge
Transportation Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- The U.S.
- Canada
- Europe
- Germany
- The U.K.
- France
- Netherlands
- Asia Pacific
- China
- Japan
- South America
- Brazil
- MEA (the Middle East and Africa)
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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