Barge transportation Market report delivers future development strategies, key companies, Possibility of competition, major challenges analysis. The reports elaborate the expansion rate of the Barge transportation market supported the highest company profile analysis. This report providing an in-depth analysis, market size, and evaluation for the developing segment among the industry. Barge transportation Market report will help you take expert decisions, recognize opportunities, plan effective professional tactics, plan new schemes, analyse drivers and restraints and give you a vision on the Barge transportation Market forecast.
The Barge transportation Market report discusses the primary industry growth drivers and challenges that the vendors and the market as a whole face and provides an overview of the key trends emerging in the market. It also talks about the market size of different segments and their growth aspects along with key leading countries in Americas, Asia-Pacific, Europe, the Middle East, and Africa regions.
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The barge transportation market size is anticipated to value USD 140.62 billion until 2025. It is also expected to register a CAGR of 3.4% over the forecasted years, 2018 to 2025. The increasing need for transportation of crude oil, petrochemicals and cargo are expected to drive the market growth.
The application segment of crude & petroleum dominated the market in 2017 on account of their rising demand as a substitute for coal. While the segment of agricultural products is also gaining traction across the globe owing to increasing need to haul food and agricultural produce in remote locations.
In 2017, the segment of tank barge dominated the market due to the rising demand for petrochemicals and crude oil across the globe. On the other hand, the covered barge segment is also expected to witness substantial growth in the upcoming years on account of rising usage of barges to haul agricultural produce over long distances.
North America is expected to witness the fastest growth with 4.3% CAGR during the forecasted period due to well-developed inland waterway transport across countries like the U.S. and Canada. The Asia Pacific is also projected to hold second-largest promising growth on account of many initiatives undertaken by statutory governing bodies for the development of inland waterways.
The barge transportation market includes key players such as Kirby Corporation, Heartland Barge, Alter Logistics, and Campbell Transportation Company Inc. They are engaged in developing and designing barges with enhanced capacities. Also, many unorganized players have started entering the market, thereby creating stiff competition among them.
Some of the companies for Barge transportation market are:
Kirby Corporation, Heartland Barge, Alter Logistics and Campbell Transportation Company Inc.
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