Overview and Scope
Barge transportation is described as the shipment of products and cargo by barge, a type of freight-carrying vessel designed for transporting passengers or commodities via rivers or canals. These cargo vessels are typically long, flat-bottomed boats with no self-propelling mechanism.
Sizing and Forecast
The barge transportation market size has grown strongly in recent years. It will grow from $131.2 billion in 2023 to $138.48 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to infrastructure development, bulk cargo demand, environmental benefits, reliability and capacity, supply chain efficiency.
The barge transportation market size is expected to see steady growth in the next few years. It will grow to $166.42 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. The growth in the forecast period can be attributed to sustainability initiatives, global trade expansion, intermodal integration, resilience to disruptions, demand for bulk commodities. Major trends in the forecast period include market diversification, focus on safety measures, inland waterway development, containerized cargo, efficiency improvement.
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Segmentation & Regional Insights
The barge transportation market covered in this report is segmented –
1) By Barge Type: Dry Bulk Cargo Barge, Liquid Cargo Barge, Car-Float Barge, Power Barge, Construction Barge
2) By Vessel Type: Open Barge, Covered Barge, Tank Barge
3) By Propulsion: Towed Barge, Self-Propelled Barge
4) By Activities: Intracoastal Transportation, Inland Water Transportation
5) By Application: Coal And Crude Petroleum Products, Food Products, Beverages, Tobacco, Metal Ores And Fabricated Metal Products, Chemicals, Rubber And Plastic, Nuclear Fuel, Other Applications
Asia-Pacific was the largest region in the barge transportation market in 2023. The regions covered in the barge transportation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising international trade is expected to propel the growth of the barge transportation market going forward. Imports are products and services purchased by people of a nation but manufactured outside the country. International trade refers to exchanging products and services across international boundaries or territories whenever goods or services are required or desired. For instance, in February 2022, according to the United Nations Conference on Trade and Development, a Switzerland-based intergovernmental body, the value of international trade hit a new high of $28.5 trillion in 2021, a 25% rise over 2020. Therefore, the rising international trade is driving the barge transportation market.
Key Industry Players
Major companies operating in the barge transportation market report are Carrier Global Corporation, Emerson Electric Co., AmeriCold Logistics LLC, Lineage Logistics LLC, Digi International Inc., ORBCOMM Inc., Cryoport Inc., Controlant AGM, Sensitech Inc., SpotSee Holdings LLC, ELPRO-BUCHS AG, Berlinger & Co AG, Hanwell Solutions Ltd., Tippmann Group, Cryopak Industries Inc., Savi Technology Inc., Rotronic AG, Maven Systems Pvt. Ltd., Klinge Corporation, Monnit Corporation, LogTag Recorders Ltd., Testo SE & Co. KGaA, Verigo, SecureRF Corporation, BT9 Ltd., Zest Labs Inc., Blulog, Gemini Data Loggers UK Ltd., Intelleflex Corporation, Infratab Inc.
The barge transportation market report table of contents includes:
1. Executive Summary
2. Barge Transportation Market Characteristics
3. Barge Transportation Market Trends And Strategies
4. Barge Transportation Market – Macro Economic Scenario
5. Global Barge Transportation Market Size and Growth
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31. Barge Transportation Market Other Major And Innovative Companies
32. Global Barge Transportation Market Competitive Benchmarking
33. Global Barge Transportation Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Barge Transportation Market
35. Barge Transportation Market Future Outlook and Potential Analysis
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