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Barge Transportation Market | 2024 Industry Players - SEACOR Holdings, PACC Offshore Services Holdings, McAllister Towing, Bouchard Transportation, Marquette Transportation, American Commercial Barge, Canal Barge
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In fact, Asia Pacific is forecast to procure a significant portion of the overall industry, with a massive revenue collection by the end of 2024. However, North America is also slated to emerge as a crucial regional barge transportation market, on account of the rising shale oil production.
Asia Pacific is one of the most lucrative regional markets for barge transportation Market. Indeed, APAC barge transportation industry held USD 34 billion in 2017, accounting for the highest revenue of the market share, primarily driven by the rising foreign exchange and trade activities. Furthermore, the growing number of oil imports from the Middle East and North America will add to the industry growth.
The major industry participants in the barge transportation market place include SEACOR Holdings, Campbell Transportation, American Commercial Barge Line (ACBL), and Kirby Corporation. Other significant players include Canal Barge, Heartland Barge, Blessey Marine Services, and PTC Logistics. Industry participants are focusing on constructing new barge with enhanced loading capacities and technically advanced features.
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Another factor that will add to the growth of the APAC barge transportation industry is the availability of huge waterways in addition to the escalating vessel freight traffic, especially alongside the coastal areas. As per estimates, Asia Pacific barge transportation market shipments will be 5.5 billion tons by 2024.
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