A barge is a flat-bottomed base used for carrying a huge capacity of heavy goods through waterways. A single barge can carry goods with capacity of above 1,500 tons at once which is far more than that of railcars or trucks.
Huge capacity of the barges is expected to drive the growth of market during the forecast period. In addition, one of the major drivers for this market is Growth in world seaborne trade, especially for ethanol transportation. The global ethanol production is witnessing an upward growth after a slight decline in 2012. The US and Brazil are the major ethanol producers. Both the countries held 84%-86% of the global ethanol production in 2016. Rising demand of petrochemical shipments across the globe and increasing crude oil demand especially from developed countries which include US and Japan will further escalate the growth of barge transportation market share over the next few years. North America barge transportation market is anticipated to grow at highest CAGR of over 5% resulted from high demand for petrochemical shipments from the region. Asia Pacific barge transportation market is expected to maintain its position over the forecast period on account of rapid industrialization and increasing population.
Market Snapshot
A recently published report by OMR Market Research, titled “Global Barge Transportation Market Size, Status and Forecast 2022” gives an overview of the overall Barge Transportation market. This section sheds light on key impact-rendering drivers and constraints that are impacting the growth. It permits users to understand the different shortcomings and how they may hamper the development afterward. This segment is considered to be one of the most crucial segments of the report as it helps readers comprehend the impact of various macro and microeconomic factors on development. The role of various sectors, including small-scale and large-scale, in the expansion has also been discussed in the report. Additionally, the industry experts have put forth the current trends and prospects, which are likely to aid the growth in the upcoming years.
The global Barge Transportation market size is projected to reach US$ 112880 million by 2027, from US$ 93650 million in 2020, at a CAGR of 2.7% during 2021-2027.
Impact of Covid-19 Outbreak
This section of the report has explored the overall status of the Covid scenario and has offered valuable insights into the changes in supply chain disruption, fluctuations in demand, etc. The analysts have also focused on the key measures that the companies are opting to withstand the harsh scenario.
Segmental Analysis
The report has been segmented into product and application segments. The researchers have documented all the products present today in the Barge Transportation market. They have also shed light on the new product innovations and launches by the key players. In the segmental analysis, the analysts have provided revenue forecast figures based on type and application for the period 2016-2027. They have also discussed about the growth rate and potential of each segment for the period 2016-2027.
Barge Transportation Breakdown Data by Type
Open Barge
Covered Barge
Tank Barge
Barge Transportation Breakdown Data by Application
Coal & Crude Petroleum
Agricultural Products
Coke & Refined Petroleum Products
Metal Ores
Secondary Raw Materials & Wastes
Food Products
Beverages & Tobacco
Basic Metals & Fabricated Metal Products
Chemicals
Regional Analysis
The significant regions that are studied in the research report encompass North America, Europe, Asia Pacific, Central and South America, and the Middle East and Africa. In this section of the report, the specialists have explored various areas that are contributing to the development and can present lucrative growth prospects for the manufacturers in the forthcoming years. The report also provides region-wise and country-wise sales and revenue forecast data for the period 2021-2027.
Competitive Landscape
This segment focuses on the key players operating in the industry. It underlines all the current and future activities by the prominent manufacturers. By understanding various initiatives being taken up by different players, readers will gain the ability to settle on correct business choices. The authors of the report have provided accurate revenue figures of the companies for the period 2016-2021. The clients are sure to gain the upper hand once they get hold of this report. Key players studied in the research report include
ACBL
Danser Group
Ingram Marine Group
Kirby
SEACOR
Frequently Asked Questions
What factors will challenge the Barge Transportation market growth
Which end-use segment will expand at the fastest CAGR in the Barge Transportation market
Which are the emerging players in the Barge Transportation market
How concentrated is the Barge Transportation market
Which factors are positively contributing to the Barge Transportation market growth
Which are the novel product innovations in the Barge Transportation market
Which product segment will emerge as the most lucrative in the Barge Transportation market
Which factors are increasing the competition in the Barge Transportation market
Which are the strategic measures taken by the Barge Transportation industry players
Which region will witness inactive growth during the forecast period.
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Global Barge Transportation Market Share, Industry Size, Growth, Opportunities and Market Forecast – 2021 to 2027
