Barge Transportation Market: Increasing Public Private Partnerships (PPP) in Ports || Key Players: American Commercial Barge Line LLC., INGRAM Marine Group, Kirby Corporation, SEACOR Holdings Inc.
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The import-export of crude oil and petrochemical is extensively depended upon marine transportation, and increasing demand for oil & petroleum products strengthen the trade, results in the growth of barge transportation market. The strong interconnectivity of canal and rivers across the countries and regions will fuel the business and will lead to an increases demand for petrochemical transportation. As a result, could boost the manufacturing of Tank Barges. Advantages of barges transportation in terms of emissions, fuel usage and capacity compare to railcars and trucks are the key factors deriving the growth of barge transportation market in the near future.
The rising consumption of North American oil is escalating lot of barges, as several petrochemical and energy companies mainly turn to the canal, coastal and rivers waterways to get North American crude to refineries in U.S. and Canada and will increase the usage of liquid cargo barge over the forecast period.
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With expanding petrochemical industry rise the shipments across the regions. The expanding usage of inland waterways in the transportation of chemical, agricultural and farms products will further propel the growth of barge transportation market.
Increasing Ocean Trade Activities
During the past few years, ocean freight has witnessed a positive growth in SEA and Western Europe countries. Counties in this region have large logistical operations. These logistical operations need large vessel for inland, offshore and ocean transportation. This creates potential demand for barge transportation across the globe.
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However, the report by Fact.MR distinguishes vendors in the global Barge Transportation market among three key groups subjected to their regional concentration and focuses on the Barge Transportation market. Key players in the Barge Transportation market which broadly concentrates on Barge Transportation and has business and sales footprint across the world. The companies such as American Commercial Barge Line LLC., INGRAM Marine Group, Kirby Corporation, SEACOR Holdings Inc., Campbell Transport Company, Heartland Barge, Bouchard Transportation, Canal Barge, Magnolia Marine Transport, Marquette Transportation among others key companies exhibit top position in the global market for Barge Transportation. The tier I manufacturing companies in Barge Transportation segments, however, account for the significant share of the global Barge Transportation business and the tier II players in the global Barge Transportation market is regional operators, which are primarily based out of the US and Europe, and predominantly are Chinese companies.
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