According to IMARC Group latest report titled” Barge Transportation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market is currently witnessing strong growth. The global barge transportation market size to grow at a CAGR of 4% during 2021-2026. A barge is used to transport passengers and heavy goods via rivers, canals, and lakes. It can also be easily utilized for transporting bulk commodities, such as grains, coal, and petroleum. It is preferred over heavy freight shipping as it is economical and environment friendly. Presently, considerable growth in the international trade of minerals, petroleum, chemicals, electronics, and pharmaceutical and food products is catalyzing the demand for barge transportation across the globe.
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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.
Rising offshore production of oil and gas represents one of the major growth-inducing factors positively influencing the demand for barge transportation worldwide. Moreover, increasing consumption of packaged food products due to hectic lifestyles, the rising demand for medical supplies, and the burgeoning agriculture sector are among other key factors bolstering the market growth. Apart from this, governing authorities of various countries are investing in infrastructure for inland waterways, which is projected to strengthen the market growth.
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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
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 (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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