Barge Transportation Market size is valued at US$ 130 Bn in 2017 and expected to grow at a CAGR of 4% in the forecasting period. A barge is a flat-bottomed base used for carrying a huge capacity of heavy goods through waterways. The movement of barges can be categorized as pushing and towing through tow boats or self-propelled. A single barge can carry up to 1,500-2,000 tons of weight normally. Maximum traders and petrochemical companies use barge transportation as the major means of transportation. Increasing imports and exports across the world will boost the barge transportation market growth in the forecast timespan. Increasing intermodal transportation in various industries is driving the barge transportation market size. Capabilities to facilitate effective customer service and contribution toward greater regional accessibility will provide stable growth prospects over the forecast timeline. Increased safety and security factors along with user-friendly software solutions are likely to result in significant adoption rates.
Barge Transportation Market
The Barge Transportation market is segmented based on product, barge fleet, application and geography. By product segment, the market is segmented into dry cargo, liquid cargo and gaseous cargo. By barge fleet, the market is segmented as open, covered and tank. Covered barge is the major segment where the Barge Transportation is highly demanded and thus, it is expected to hold major market share in the forecast period owing to increased usage of covered barges across the globe due to uncertain weather conditions. Shifting preference towards covered barges is also attributed to their larger capacity as compared to open barges. By application segment, the market is segmented into 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, rubber & plastic and nuclear fuel. Geographically, the Barge Transportation market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. Asia Pacific is expected to be largest market for Barge Transportation during the forecast period. Increasing local and international trading activities of non-renewable materials and chemicals will propel the regional growth in the forecast timeline. Moreover, rising freight traffic on inland and coastal waterways across the region has fostered the Asia Pacific market growth. Key player across the Barge Transportation industry are Kirby Corporation, American Commercial Barge Line (ACBL), Ingram Marine Group, and SEACOR Holdings. Industry players focus on adopting aggressive strategies such as mergers and acquisitions for strengthening their foothold. For instance, in March 2016, Kirby Corporation acquired SEACOR Holdings’ inland fleet from its subsidiaries that included 27 inland barges and 13 towboats at USD 88 million to increase its customer base and expand its fleet. In October 2015, ACL completed the acquisition of AEP River operations at USD 550 million for expansion of operations in shipment and logistics.
Barge Transportation Market Scope
Barge Transportation Market, By Product
• Dry Cargo • Liquid Cargo • Gaseous Cargo
Barge Transportation Market, By Barge Fleet
• Open • Covered • Tank
Barge Transportation Market, 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 • Rubber & Plastic • Nuclear Fuel
Barge Transportation Market, By Geography
• North America • Europe • Asia-Pacific • Middle East & Africa • Latin America
Key Players operating in the Barge Transportation Market:
• Kirby Corporation • American Commercial Barge Line (ACBL) • Ingram Marine Group • SEACOR Holdings • Heartland Barge • Campbell Transportation • ABC India Ltd. • Canal Barge • PTC Logistics • PACC Offshore Services Holdings (POSH)
Maximize Market Research, a global market research firm with dedicated team of specialists and data has carried out extensive research about the current Barge Transportation market outlook. Report encompasses the Barge Transportation market by different segments and region, providing the in-depth analysis of overall industry ecosystem, useful for taking informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Barge Transportation market. The driving forces as well as considerable restraints have been explained in depth. In addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Barge Transportation market positioning of competitors.