Barge Transportation Market Expanding at a CAGR of 3.46% during 2022-2027

According to IMARC Group latest report titled" Barge Transportation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", offers a comprehensive analysis of the industry, which comprises insights on barge transportation market. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global barge transportation market reached a value of US$ 122 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 149.6 Billion by 2027, exhibiting a CAGR of 3.46% during 2022-2027.

The barge refers to a flat surface vessel that aids in transporting passengers and heavy goods through waterways, including canals, rivers, and lakes. It is widely used by consumers since it is environment-friendly and economical and can be easily employed for transporting bulk commodities, such as coal, petroleum, and grains. At present, the import-export of crude oil and petrochemical, minerals, food products, and electronics is extensively dependent upon marine transportation. Additionally, inland waterways are beneficial for the transport of agricultural, chemicals, and farm products. The demand for barge transportation is rising across the globe due to its increasing popularity across large industries.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Market Trends:

The global market is majorly driven by the growing demand for an efficient transportation system. This, in confluence with the rising offshore production of oil and gas as a result of the growing demand for petrochemical products across developed as well as developing countries, is significantly supporting the market globally. Moreover, advancements in barge manufacturing technologies and the widespread integration with the internet of things (IoT) are creating a positive market outlook. Apart from this, continual improvements in the e-commerce infrastructure and the development in the supply chain distribution is positively influencing the market. Other factors driving the market further include rapid industrialization and ease in import and export regulations, are further projected to drive the market.

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Competitive Landscape with Key players:

The report has also analysed the competitive landscape of the market with some of the key players being.
• Alter Logistics (Goldstein Group Inc.)
• American Commercial Barge Line
• Anderson Trucking Service Inc
• Bouchard Transportation Co. Inc.
• Campbell Transportation Company Inc
• Heartland Barge Management LLC
• Ingram Marine Group
• Kirby Corporation
• McAllister Towing and Transportation Co. Inc.
• PACC Offshore Services Holdings Ltd.
• Poh Tiong Choon Logistics Ltd.
• SEACOR Marine Holdings Inc

Barge Transportation Market Segmentation:

Our report has categorized the market based on region, type of cargo, barge fleet, application and activities.

Breakup by Type of Cargo:
• Dry Cargo
• Liquid Cargo
• Gaseous Cargo

Breakup by Barge Fleet:
• Open Barge
• Covered Barge
• Tank Barge

Breakup by Application:
• Coal and Crude Petroleum Products
• Agricultural Products
• Coke and Refined Petroleum Products
• Metal Ores and Fabricated Metal Products
• Chemicals, Rubber and Plastic, Nuclear Fuel
• Food Products, Beverages, and Tobacco
• Others

Breakup by Activities:
• Intracoastal Transportation
• Inland Water Transportation

Breakup by Region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

We are updating our reports, If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Competitive landscape, etc. Click request free sample report, the report will be delivered to you in PDF format via email within 24 to 48 hours after the payment confirmation.

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