Barge Transportation Market Development Strategies, Demand With Key Players Analysis 2021-2027
Barges are deployed by diverse industry verticals to transport or carry bulk goods over long distances. Sea routes play a vital role in facilitating trades across countries at an affordable price. Mounting private and government sector investments geared towards exploring new offshore drilling activities could stimulate the demand for Barge Transportation Market. On this note, a study conducted by Global Market Insights, Inc., estimates that the barge transportation market may cross USD 50 billion by the year 2026.
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Gaseous cargo barges are expected to witness an exponential growth on account of surging number of international trades of non-renewable & gaseous products like gaseous chemicals, Liquefied Natural Gas (LNG), Liquefied Petroleum Gas (LPG), and Compressed Natural Gas (CNG). Gas products are primarily transported over tank barges as they ensure maximum efficiency and safety. Growing concerns over leakages linked to gas carrying pipelines could massively boost the adoption of Market.
In terms of application, the Market is categorized under agricultural products, coal & crude petroleum, metal ores, refined & petroleum coke products, food products, secondary raw materials and wastes, basic metals & fabricated metal products, beverages & tobacco, rubber & plastic, chemicals, and nuclear fuel.
Out of these, the secondary raw materials and the waste sector segment is likely to record substantial growth owing to escalating manufacturing projects, especially across Asia Pacific. Manufacturers prefer to transport their raw material inventory in bulk amounts to prevent price instability.
Barge transportation comes as the ideal alternative for transporting bulk wastes and raw materials due to its bulk carrying capabilities and cost-effectiveness.
Elaborating on the regional front, the Middle East and Africa is considered to be a lucrative front for the regional barge transportation industry. MEA is renowned to home numerous large fleets of barges, especially in countries such as Qatar, Kuwait, and Saudi Arabia.
Evidently, these major ports normally handle heavy cargos. Earlier in 2019, the Saudi Ports Authority (MAWANI) published a report stating Saudi ports operated over 21 million tons of total cargo tonnage, an increase of nearly 3 percent compared to the previous year. Meanwhile, the number of containers has scaled up to 622,000, recording a growth of almost 22 percent.
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Industry participants like Kirby Corporation, American Commercial Barge Line (ACBL), SEACOR Holdings, Ingram Marine Group, Campbell Transportation Company and APL Logistics are pioneering the global barge transportation industry with regular innovation strategies and value-added services.
Table of Contents (ToC) of the report:
Chapter 4. Competitive landscape
4.2. Company market share, 2019
4.3. Competitive analysis of major market players, 2019
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
6.2.1. Market estimates and forecast, 2015 – 2026
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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About Global Market Insights, Inc.
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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