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 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, 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 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 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 petrochemicals 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.
Browse full research report on Barge
Transportation Market:
https://www.grandviewresearch.com/industry-analysis/barge-transportation-market
Further key
findings from the report suggest:
- The demand for barges is projected to increase
significantly in line with growth in economy and rising demand for
petrochemicals
- The demand for tank barges is rising due to
increasing demand for crude oil and growing production of ethanol.
Burgeoning output of shale oil in the U.S. is expected to increase adoption
of barges for transportation
- Barge manufactures are focusing on developing
technologically advanced products that can ensure 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 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.
Browse request sample of this report by
Grand View Research:
https://www.grandviewresearch.com/industry-analysis/barge-transportation-market/request/rs1
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
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Netherlands
- Asia Pacific
- China
- Japan
- South America
- Brazil
- MEA (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.
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