Barge Transportation Market: Industry Overview, Trends and Growth Opportunities Forecasted Till 2027

Barge Transportation Market Outlook 2027 -

Barge is a flat surface vessel that transports cargo through waterways only. Usage of inland waterways within the transportation of chemical, agricultural, and farm products propels the expansion of the market. The import-export of crude oil and petrochemical is extensively dependent upon marine transportation. Increase in demand for oil & petroleum products strengthens trade and boosts the growth of the barge transportation market. Moreover, barge is a popular means for transportation adopted by large industries to transport their cargo and is expected to grow significantly in the future.

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COVID-19 scenario analysis:

The rapid spread of coronavirus had a major impact on the global shipping market, which included transportation by water.

Exports and imports have completely been shut for months now, which led to many serious loses for most of the companies.

During the pandemic, water transportation is utilized only for transporting necessities and medical aid such as medicine and PPE kits.

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Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis

Growth in demand for cost-effective transportation and increase in trade of metal ores across the globe are expected to boost the market growth.

However, high operating costs associated with barge transportation restrain the growth of the market. Further, increase in government support for the development of regional waterways infrastructure strengthens the industry growth and provides lucrative opportunities for the market.

The barge transportation market trends are as follows:

Growth in demand for cost-effective transportation:

Barge transportation holds a majority of the market due to its cost-effective nature and increased demand. Several advantages, such as protection of goods from extreme & uncertain weather conditions, fuel the growth of the global barge transportation market. It is primarily used to move dry cargo, such as agricultural products, on account of its high cost-effectiveness. Transport by sea allows to ship large volumes with lesser cost than other means of transportation.

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Increase in trade of metal ores across the globe:
Metal ore is estimated to capture a significant industry share during the forecast period due to rise in local and international trade of metal ores globally. Brazil is one of the largest suppliers of metal ore in the world, and is responsible for substantial exports. For every developing country, the amount of export and import increases at a very high scale. In addition, increase in sales of automobiles and rise in construction activities boost the demand for metal ores. Therefore, this is projected to fuel the growth of the barge transportation market.

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