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Increasing requirement to transport heavy industrial goods is expected to augment barge transportation market size over the coming years. Countries worldwide are actively investing in port infrastructure development activities to enhance barge transportation activities. Some countries are considering pouring in huge investments for initiating port modernization projects.
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Barge Transportation Market Share, Trend & Growth Forecast to 2026
KeyInsights Barge Transportation Market: • Increasing requirement to transport heavy industrial goods is expected to augment barge transportation market size over the coming years. Countries worldwide are actively investing in port infrastructure development activities to enhance barge transportation activities. Some countries are considering pouring in huge investments for initiating port modernization projects. • Barges are deployed by diverse industry verticals to transport or carry bulk goods over long distances. Sea routes play a vital role in facilitating trades across countries at an affordable price. Mounting private and government sector investments geared towards exploring new offshore drilling activities could stimulate the demand for barge transportation systems.The barge transportation market may cross USD 50 billion by the year 2026.
Continued… • In terms of application, the barge transportation market is categorized under agricultural products, coal & crude petroleum, metal ores, refined & petroleum coke products, food products, secondary raw materials and wastes, basic metals & fabricated metal products, beverages & tobacco, rubber & plastic, chemicals, and nuclear fuel. • Gaseous cargo barges are expected to witness an exponential growth on account of surging number of international trades of non-renewable & gaseous products like gaseous chemicals, Liquefied Natural Gas (LNG), Liquefied Petroleum Gas (LPG), and Compressed Natural Gas (CNG). Gas products are primarily transported over tank barges as they ensure maximum efficiency and safety. Growing concerns over leakages linked to gas carrying pipelines could massively boost the adoption of barge transportation systems.
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Major Companies Barge Transportation Market : • American Commercial Barge Liner (ACBL) • Alter Logistics • Continental Corporation • American Commercial Lines LLC • Argosy International Inc.
Regional Barge Transportation Market : • Elaborating on the regional front, the Middle East and Africa is considered to be a lucrative front for the regional barge transportation industry. MEA is renowned to home numerous large fleets of barges, especially in countries such as Qatar, Kuwait, and Saudi Arabia.
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