Barge Transportation Market Growth In Transportation Industry to 2024 Profiling SEACOR Holdings, PACC Offshore Services Holdings, Bouchard Transportation, ACBL
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Industry Growth drivers:
1. Large capacity of barges and quality of inland waterways
2. Rising demand for petrochemical shipments
3. Port modernization
According to a new research report by Global Market Insights, Inc., the Barge Transportation Market size is estimated to surpass USD 170 billion by 2024
The coal and crude petroleum segment will showcase significant gains at over 3.5% from 2018 to 2024 owing to the increasing petroleum shipments globally. The introduction of innovative oil exploration techniques including directional drilling and hydraulic fracturing are further proliferating the segment revenue over the projected timeframe. Increasing oil exports from North America and the Middle East will foster the barge transportation market growth till 2024.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. ABC India Ltd.
2. American Commercial Barge Liner (ACBL)
3. Alter Logistics
4. Continental Corporation
5. American Commercial Lines LLC
6. Argosy International Inc.
7. ATS, Inc.
8. Blessey Marine Services, Inc
9. Bouchard Transportation Co. Inc.
10. Campbell Transportation Company, Inc.
11. Canal Barge
12. Contargo Waterway Logistics BV
13. Crounse Corporation
14. Heartland Barge
15. Ingram Marine Group
16. Kirby Corporation
17. Marquette Transportation Company LLC
18. Neska Container Line
19. PACC Offshore Services Holdings Ltd. (POSH)
Barge Transportation Market, By Application
• Coal and crude petroleum
• Agricultural products
• Coke and refined petroleum
• Metal ores
• Secondary raw materials and wastes
• Food products, beverages, and tobacco
• Basic metals, fabricated metal products
• Chemicals, rubber and plastic, nuclear fuel
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Adoption of propulsion nozzles and restructuring of thruster tunnels reduces the barge transportation costs by 10% to 15%, thereby increasing the overall operating efficiency of the barges. The utilization of LNG for powering the barges improves the efficiency and significantly reduces the carbon emissions adhering to the stringent government regulations. The integration of GPS equipment provides real time monitoring and scheduling of barges enables the service providers to efficiently manage their shipments, positively influencing the barge transportation market share.
Covered barge fleet will account for the maximum volume share of over 4 shipments-billion tons in 2017. This can be attributed to the benefits offered by these barges compared to the counterparts including safety for the goods, enhanced protection from uncertain weather conditions, and larger load carrying capacity. The requirement for affordable and safe barge transportation services for moving agricultural products will further drive the segment demand.
Asia Pacific barge transportation market will account for the maximum volume share of over 5.5 shipments-billion tons by 2024. This can be credited to the availability of vast waterways channels across the region. The growing demand for petroleum products along with increasing waterways freight traffic will further propel the industry growth till 2024.
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The prominent players in the barge transportation marketplace include Kirby Corporation, American Commercial Barge Line (ACBL), Campbell Transportation, and SEACOR Holdings. Other notable players include PTC Logistics, Blessey Marine Services, Heartland Barge, and.Canal Barge.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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