Barge Transportation Market Size, Industry Analysis Report By Product (Dry Cargo, Liquid Cargo, Gaseous Cargo), By Barge Fleet (Open Barge, Covered Barge, Tank Barge), 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) & Region – Forecasts By 2030
- PUBLISHED ON
- 2024-09-27
- NO OF PAGES
- 239
- CATEGORY
- Automotive & Transportation
The Barge Transportation Market is valued at USD 126.17 billion in 2022 and is projected to reach a value of USD 165.12 billion in 2030 expanding at a CAGR of 3.42% over the forecast period.
A barge is defined as a long boat with a flat bottom that is used for transporting passengers and heavy goods through rivers, canals, and lakes.
It is also widely preferred over heavy freight shipping as it is economical and environment-friendly and can be easily employed for transporting bulk commodities that includes, grains, coal, and petroleum.
Presently, the significant growth in the international trade of chemicals, minerals, petroleum, agricultural, electronic, pharmaceutical, and food products has been positively influencing the demand for barge transportation around the world.
Barge is defined as a flat surface vessel that usually transports cargo through waterways only.
The usage of inland waterways within the transportation of chemical, agricultural, and farm products has propelled the expansion of the market.
Also, the import-export of crude oil and petrochemical is extensively dependent upon marine transportation and the rise in demand for oil as well as petroleum products strengthens trade has boosted the growth of the barge transportation market.
Barge Transportation Market - Key Market Trends
• Increasing offshore production of oil and gas has boosted the market growth
Every market has its growth determinant and challenges. One of the major factor that has fuelled the market growth over the forecast period is the increasing offshore production of oil and gas.
• High operating costs associated with barge transportation has hindered the market
One of the major restrain to the market growth over the forecast period is the high operating costs associated with barge transportation. While, the increase in government support for the development of regional waterways infrastructure strengthens the industry growth and has provided lucrative opportunities for the market over the forecast period.
Barge Transportation Market - Segmental Analysis
Based on Product
• Dry Cargo
• Liquid Cargo
• Gaseous Cargo
The dry cargo segment has dominated the market growth over the forecast period.
Based on Barge Fleet
• Open Barge
• Covered Barge
• Tank Barge
The open barge segment has dominated the market growth over the forecast period.
Based on 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
The coal and crude petroleum products segment has dominated the market growth over the forecast period.
Barge Transportation Market - Geographical Analysis
The barge transportation market is segmented into 4 main regions namely, North America, Europe, Asia Pacific, Latin America, and Middle east and Africa. Among these, Latin America has dominated the market growth over the forecast period. This is because Brazil is one of the largest suppliers of metal ore in the world, and is responsible for substantial exports. For every developing country, the amount of export and import increases at a very high scale. In addition, increase in sales of automobiles and rise in construction activities boost the demand for metal ores over the forecast period.
Barge Transportation Market - Competitive Landscape
Some of the prominent companies operating in the market are ABC India Ltd., American Commercial Barge Liner (ACBL), Alter Logistics Continental Corporation, American Commercial Lines LLC, Argosy International Inc., ATS Inc., Blessey Marine Services, Inc, Bouchard Transportation Co. Inc., Campbell Transportation Company Inc.
Major Segments Covered
• Product (Dry Cargo, Liquid Cargo and Gaseous Cargo)
• Barge Fleet (Opened, Covered, and Tank Barge)
• Application (Coal and Crude Petroleum, Agricultural Products, Coke and Refined Petroleum Products, Metal Ores, Secondary Raw Materials and Wastes, Food Products, Beverages, and Tobacco, and Basic Metals, Fabricated Metal Products)
Key Countries and Regions Covered
• North America (United States, Canada)
• Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
Frequently Asked Questions
What is the market size and growth projections?
The Barge Transportation Market is valued at USD 126.17 billion in 2022 and is projected to reach a value of USD 165.12 billion in 2030 expanding at a CAGR of 3.42% over the forecast period.
What are the drivers shaping various markets?
Increasing offshore production of oil and gas has boosted the market growth: - Every market has its growth determinant and challenges. One of the major factor that has fuelled the market growth over the forecast period is the increasing offshore production of oil and gas. The rapid industrialization acts as a major growth-inducing factor that catalyses the demand for barge transportation.
Who are the key competitors of market Players?
Some of the major players operating within the market are ABC India Ltd., American Commercial Barge Liner (ACBL), Alter Logistics Continental Corporation, American Commercial Lines LLC, Argosy International Inc., ATS Inc., Blessey Marine Services, Inc, Bouchard Transportation Co. Inc., Campbell Transportation Company Inc.
What are the top performing segments, and countries / regions of each of the markets?
The barge transportation market is segmented into 4 main regions namely, North America, Europe, Asia Pacific, Latin America, and Middle east and Africa. Among these, Latin America has dominated the market growth over the forecast period. This is because Brazil is one of the largest suppliers of metal ore in the world, and is responsible for substantial exports.
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