Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Barge Transportation Market Report by Type of Cargo, Barge Fleet, Application, Activities, and Region 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global barge transportation market continues to flourish, with expectations for it to reach a noteworthy valuation of US$ 154.6 billion by 2028. Demonstrating a steady growth at a CAGR of 3.4% from 2022-2028, the market reflects a resilient trajectory owing to several key drivers. As reported in this research report, the market which stood at US$ 126.5 billion in 2022, is on an upward trend driven by various influencing factors.
Barging ahead with efficiency and environmental benefits, barge transport is increasingly becoming the transport mode of choice for heavy and bulk commodities. This comprehensive report analyzes the market dynamics, segmenting the findings by type of cargo, such as dry, liquid, and gaseous; the barge fleet consisting of open, covered, and tank barges; applications including transportation of coal, crude petroleum, and agricultural products; and delineating activities between intracoastal and inland water transportation.
Dynamic Market Trends
Several notable trends are fostering the expansion of the barge transportation market. Oil and gas offshore production, alongside rapid industrialization, is significantly amplifying the utilization of barge transport, as insights within the research publication reveal. The rise in consumption of packaged goods, alongside an increase in pharmaceutical supplies and a robust agricultural sector, further augments market growth.
Moreover, investments directed towards inland waterway infrastructure by various governments are aiding market enlargement. Corporate strategies including mergers and acquisitions, collaborations, and partnerships are also reshaping the landscape, with major industry contenders focusing on innovation and technological advancements, like the adoption of IoT, to optimize barge transportation operations.
Key Regional Insights
Across geographic regions, including North America, Asia-Pacific, Europe, Latin America, and the Middle East and Africa, the report delivers a granular analysis. It offers valuable insights on the market dynamics within key countries such as the United States, Canada, China, Japan, India, and others, examining their individual market contributions and potential growth areas.
The barge transportation industry showcases a competitive arena featuring prominent players like Alter Logistics, American Commercial Barge Line, and Kirby Corporation, to name a few. The research publication includes a detailed competitive landscape section that scrutinizes the strategic moves of these leading market participants.
Impact Analysis and Market Segments
Evaluating the impact of the COVID-19 pandemic on the barge transportation market forms a critical part of the market research, providing stakeholders with necessary insights for informed decision-making. The detailed segmentation according to cargo type, fleet composition, and applications, gives readers a comprehensive overview, thus allowing for a focused understanding of individual segments driving the overall market growth.
Companies Mentioned
- Alter Logistics (Goldstein Group Inc.)
- American Commercial Barge Line (American Commercial Lines Inc.)
- Anderson Trucking Service Inc.
- Bouchard Transportation Co. Inc.
- Campbell Transportation Company Inc. (Blue Danube Incorporated)
- Heartland Barge Management LLC
- Ingram Marine Group
- Kirby Corporation
- McAllister Towing and Transportation Co. Inc.
- PACC Offshore Services Holdings Ltd.
- Poh Tiong Choon Logistics Ltd.
- SEACOR Marine Holdings Inc.
For more information about this report visit https://www.researchandmarkets.com/r/4q5sqv
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