The global Barge Transportation Market size is expected to reach US$ 56.68 billion by 2027 and is expected to grow at an impressive double-digit rate of 3.8% from 2020 to 2027.
The study includes drivers and restraints of this market. The study provides an analysis of the global Barge Transportation Market for the period 2016-2027, wherein 2020 to 2027 is the forecast period and 2020 is considered as the base year.
Why should you invest in this report?
If you are aiming to enter the global Barge Transportation Market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for Barge Transportation are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2020-2027, so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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Growth Factors
Numerous benefits offered by barge transportation in terms of efficiency, cost, and security & safety of cargo propel the growth of the market. Rising import & export business along with improving economic condition across different parts of the world plays significant role in triggering the market growth. In addition, the barge transportation market holds intense growth potential in the near future due to increasing initiatives and investment by the government f different regions for development of inland water infrastructure. Further, various research activities are carried out by the industry participants to develop new and upgrade the existing barge designs. For instance, hybrid LNG barge is more environment-friendly and fuel-efficient alternative for conventional ones.
However, rapid development for advanced railway transportation projected to restrict the market growth. Moreover, increasing domestic trade and attractive return on investment induce significant growth potential for the market players in the coming years.
Report Highlights
- Europe dominated the global barge transportation market in 2019 with prominent market value share of around 40%. Increasing import and export trade activities across the region account for the prime factor driving the market growth.
- By product, dry cargo led the global barge transportation market owing to increasing demand for iron ore, coal, and grains especially in the Asia Pacific, Germany, and the U.S. The segment is projected to cross the revenue of USD 22 Billion by 2027. High production volume of dry cargo products triggers the competition for advanced transportation, making it a preferred choice for the end-users.
- In 2019, agriculture application accounted for significant revenue share and exceeded the market value of USD 4 Billion. Positive growth in the agricultural products creates huge demand for enhanced & efficient logistics services, supporting the accelerating growth of the market.
- Increasing cross border import & export of petrochemicals and chemicals attributed for the significant growth of tank barges in the year 2019. The segment contributes nearly 25% of the value share in the global barge transportation market.
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Key Market Players and Strategies
- SEACOR Holdings
- American Commercial Barge Line (ACBL)
- Ingram Marine Group
- Campbell Transportation Company
- Kirby Corporation
- APL Logistics
- Crowley Maritime Corporation
Major Market Segments Covered:
By Barge Fleet
- Covered
- Open
- Tank
By Product
- Liquid Cargo
- Dry Cargo
- Gaseous Cargo
By Application
- Agricultural Products
- Coal & Crude Petroleum
- Metal Ores
- Coke & Refined Petroleum Products
- Food Products
- Secondary Raw Materials & Wastes
- Beverages & Tobacco
- Rubber & Plastic
- Chemicals
- Nuclear Fuel
Regional Analysis:
The geographical analysis of the global Barge Transportation Market has been done for North America, Europe, Asia-Pacific, and the Rest of the World.
The North American market is again segmented into the US, Canada, and Mexico. Coming to the European market, it can be segmented further into the UK, Germany, France, Italy, Spain, and the rest. Coming to the Asia-Pacific, the global Barge Transportation Market is segmented into China, India, Japan, and Rest of Asia Pacific. Among others, the market is segmented into the Middle East and Africa, (GCC, North Africa, South Africa and Rest of the Middle East & Africa).
Key Questions Answered by the Report:
- What will be the size of the global Barge Transportation Market in 2027?
- What is the expected CAGR for the Barge Transportation Market between 2020 and 2027?
- Which are the top players active in this global market?
- What are the key drivers of this global market?
- How will the market situation change in the coming years?
- Which region held the highest market share in this global market?
- What are the common business tactics adopted by players?
- What is the growth outlook of the global Barge Transportation Market?
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