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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players 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.