The Barge Transportation Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Barge Transportation Global Market Report 2024, 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.
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.
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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
Technological innovations are the key trend gaining popularity in the barge transportation market. Major companies operating in barge transportation are focused on developing innovative technologies to strengthen their position in the market. For instance, in June 2023, Cargill Incorporated, a US-based manufacturer of barge and carrier vessels, in collaboration with KOTUG, a Netherlands-based maritime and towage company, launched Kotug’s zero-emission E-Pusher and E-Barges. These are one of the world’s first electric-propelled boats and barges for cocoa bean transportation. The emissions-free vessel, which is furnished with innovative state-of-the-art technology and cutting-edge propulsion systems, removes hazardous pollutants such as carbon dioxide (CO2), sulfur oxides (SOx), nitrogen oxides (NOx), and particulate matter (PM).
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 analysis
5. Barge Transportation Market Size And Growth
6.Barge Transportation Segmentation
7. Barge Transportation Regional And Country Analysis
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27. Barge Transportation Competitive Landscape And Company Profiles
28. Barge Transportation Key Mergers And Acquisitions
29. Barge Transportation Future Outlook and Potential Analysis
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