Transparency Market Research (TMR) provides key insights on the barge transportation market in its latest report titled “Barge Transportation Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026.” According to the report, rising industrialization across the globe is predicted to drive the barge transportation market during the forecast period.
The report has segmented the global barge transportation market based on fleet, product, application, and region. In terms of the product to be transported, the dry cargo segment is likely to hold a major share of the market, as other than oil and gas industry, most products are dry product, which is attributable for the large market share held by the dry cargo segment. The dry cargo segment is anticipated to maintain its dominance during the forecast period; however, liquid and gas cargo segments are likely to expand at a significant pace during the forecast period.
Based on application, the barge transportation market is segmented on the basis of major industries. Among all the industries, crude oil and coal industry segment is anticipated to hold a notable share of the market. It is anticipated to maintain its dominant position in the market during the forecast period due to rising industrialization, which consumes the byproduct of crude oil and coal industry as their fuel. Barge transportation has been one of the most important mode for the transportation of agricultural products, thus the agricultural segment is likely to expand at a significant growth rate during the forecast period.
In terms of region, North America is a leading market for barge transportation, followed by Asia Pacific. Barge transportation in North America is rising consistently due to a well-established network of waterways in the region including the major rivers such as Mississippi, Illinois, and Ohio. Government in the region is supporting to raise the fund for the development of the waterway transportation, thus boosting the barge transportation market.
Prominent players operating in the global barge transportation market are included in this report to give a better competitive analysis and these are Kirby Corporation, Ingram Marine Group, neska Container Line B.V., SEACOR, and Campbell Transportation Company, Inc.
For more information on Barge Transportation Market, please visit Transparency Market Research.
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