Barge is flat surfaced vessel that is used to transport cargo through waterways. Barges are tugged or toed by naval vessels in the water bodies. Furthermore, barges are generally utilized in water bodies such as rivers, canals, and lakes; however barge transportation is now extensively used at sea ports. Barge is a popular means for transportation adopted by large industries in order to transport their cargo.
The barge transportation market is estimated to expand at a significant pace during the forecast period due to rising import and export among countries. Barge transportation was a highly popular way of transportation until the invention of steam engines and the introduction of railways. Railway transportation hampered the barge transportation market as it was faster way of transportation; however, transportation of cargo through waterways, between different nations, coupled with high carrying capacity of barges has boosted the barge transportation market in the last few decades. Rising industrialization, globally, is likely to boost the barge transportation market during the forecast period.
The global barge transportation market can be segmented based on fleet, product, application, and region. Based on fleet, the covered barge segment is anticipated to hold a major share of the market, as popularity of the covered barge has been consistently increasing. The tank barge segment is estimated to witness significant expansion during the forecast period due to the rise in transportation of petrochemicals by barge.
Based on the product to be transported, the dry cargo segment is likely to hold a major share of the market, as other than oil and gas industry, most products are dry product, which is attributable for the large market share held by the dry cargo segment. The dry cargo segment is anticipated to maintain its dominance during the forecast period; however, liquid and gas cargo segments are likely to expand at a significant pace during the forecast period.
In terms of application, the barge transportation market is segmented on the basis of major industries. Among all the industries, crude oil and coal industry segment is anticipated to hold a notable share of the market. It is anticipated to maintain its dominant position in the market during the forecast period due to rising industrialization, which consumes the byproduct of crude oil and coal industry as their fuel. Barge transportation has been one of the most important mode for the transportation of agricultural products, thus the agricultural segment is likely to expand at a significant growth rate during the forecast period.
In terms of region, North America is a leading market for barge transportation, followed by Asia Pacific. Barge transportation in North America is rising consistently due to a well-established network of waterways in the region including the major rivers such as Mississippi, Illinois, and Ohio. Government in the region is supporting to raise the fund for the development of the waterway transportation, thus boosting the barge transportation market.
Key players operating in the global barge transportation market include Kirby Corporation, Ingram Marine Group, neska Container Line B.V., SEACOR, and Campbell Transportation Company, Inc. Most key players are focusing on mergers and acquisitions in order to expand their business.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.