What's driving the Barge Transportation Market Growth? Campbell Transportation Company, Inc., Canal Barge, Contargo Waterway Logistics BV, Crounse Corporation, Heartland Barge, Ingram Marine Group, Kirby Corporation, Marquette Transportation Company LLC,

The barge transportation market has benefitted from the extensive river routes in Asian countries, which pass through a large number of cities, providing a means of affordable coal and crude supply. China, for instance, has over 110,000 kms of navigable rivers with more than 1200 million tons of goods being transported on these rivers every year. For the record, the APAC barge transportation industry was valued at USD 34 billion in 2017.

Growing local and international trade has substantially propelled barge transportation market, with consistent advancement of industries like automobile manufacturing, energy, construction, oil & gas and food processing. The expansion of these sectors has primarily been influenced by the increased purchasing power of consumers which has escalated the demand for goods and power, enabling global businesses to utilize international and domestic transportation channels. Characterized by being more cost effective and causing lower emissions as compared to some other alternatives, rising preference among exports to use barges for intercontinental conveyance has propagated the barge transportation industry.

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Studies have proven what most of the industries are already aware of, that barges are one of the most efficient means of transport. Goods-specific barges can perform even better, and the barge transportation industry is gradually becoming a crucial part of the energy policies of countries focused on utilizing lesser fuel. The previous year, a report commissioned by the U.S. National Waterways Foundation revealed that inland river barge transportation was delivering better fuel efficiency than road or rail. The study showed that a ton of cargo can be moved 647 miles on a barge with 1 gallon fuel, where as the numbers for train and trucks were 477 miles and 145 miles per gallon respectively. Subsequently, increased adoption of waterways for transporting goods and resources will give tremendous propulsion to the global barge transportation market.

The Asia-Pacific (APAC) region, particularly, has been a major importer and consumer of crude over the past decade, mostly driven by the enormous population base which proliferates the automobile and power generation sectors. Statistics indicate that the demand for crude in APAC had gone up from 9.1 million bpd in 1973 to 34.6 million bpd in 2017, which is effectively a 280% increase. Countries like China and India witnessed accelerated growth rate over the past 20 years, offering opportunities for crude petroleum exporters as well as companies in the shipping and barge transportation industry.

According to the International Energy Agency, China would be overtaking U.S. as the world's biggest crude oil importer over the next five years, with APAC estimated to contribute nearly 60% of global demand during the period. Coal, which is burnt to generate electricity, is also a lucrative application area for the barge transportation market as it still powers 40% of energy consumption in emerging markets. Reports say that throughout 2017, coal-powered electricity generation plants had increased across most of APAC's key economies, boosting demand for the natural resource and presenting growth prospects for coal providers in countries like Australia, where the quality of coal is high.

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Some Point from Table of Contents:

Chapter 5. Barge Transportation Market, By Product
5.1. Key trends by product
5.2. Dry cargo
5.2.1. Market estimates and forecast, 2015 - 2026
5.3. Liquid cargo
5.3.1. Market estimates and forecast, 2015 - 2026
5.4. Gaseous cargo
5.4.1. Market estimates and forecast, 2015 - 2026
Chapter 6. Barge Transportation Market, By Barge Fleet
6.1. Key trends by barge fleet
6.2. Opened
6.2.1. Market estimates and forecast, 2015 - 2026
6.3. Covered
6.3.1. Market estimates and forecast, 2015 - 2026
6.4. Tank barge
6.4.1. Market estimates and forecast, 2015 - 2026

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