Rise in port infrastructure development activities across the globe is likely to favor the expansion of barge transportation market. Several countries are making huge investments in developing economical modes of transportation and port modernization to cater to the rising trade activities, which in turn is facilitating barge adoption and deployment.
For instance, deck barges are the open rectangular barges with flat surface decks. Thee barges are commonly utilized for handling non-perishable commodities such as coal and iron ore. However, open barges lack walls and can’t be used for goods that require containerization. Deck barges are experiencing high demand for carrying heavy equipment loads.
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The key factor responsible for the escalating product demand is the cost-effectiveness of these open fleet barges as compared to its counterparts. Estimates suggests that global barge transportation market size will exceed US$50 billion in terms of annual valuation by the end of 2026.
Will a rise in international ores and minerals trade bolster the demand for gaseous cargo barges?
The leakage concerns associated with the gas carrying pipelines, is resulting in need for proper barge transportation systems. Rising international trade of gaseous & non-renewable products such as gaseous chemicals, Liquefied Natural Gas (LNG), Liquefied Petroleum Gas (LPG), CNG and others is bolstering the adoption of gaseous cargo fleet.
In order to ensure maximum safety and transportation efficiency, gases are increasingly being transported using tank barges. Increasing government & private sector investments in exploring new offshore drilling projects to cater to growing energy demand will also favor international trade of ores & minerals which in turn supplement gaseous cargo barge transportation market trends.
How will secondary raw materials & wastes application foster barge transportation industry forecast?
Large-scale industrialization and increasing manufacturing activities, majorly in Asia Pacific countries, is fueling secondary raw materials and the waste sector growth. Over the past few years, barge transportation has become one of the most efficient way of transporting bulk raw materials & wastes on account of bulk carrying capabilities and cost-effectiveness.
As manufacturers tend to manage raw material inventory level in bulk quantities for avoiding price volatility of the product, the demand for barge transportation will sustain notably in the coming years.
What are the key factors influencing Middle East & Africa barge transportation market outlook?
The Middle East and Africa possess large fleet of barges, particularly in the countries such as Qatar, Kuwait and Saudi Arabia. The major ports across the region handle large volume of cargo due to expansive international trade of fuel oils and minerals. According to the MAWANI (Saudi Ports Authority), Saudi ports handled a total cargo of more than 21 million tons in April 2019, which is an increase of around 3% as compared to the same period in the previous year.
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In addition to this, the number of containers used across Saudi ports reached around 622,000, with a jump of nearly 22% from the same period in 2018. The rising stats seem to indicate major opportunities for regional barge transportation industry growth, particularly after the global coronavirus pandemic in 2020 subsides.
Table of Contents (ToC) of the report:
Chapter 1. Methodology and Scope
1.1. Definitions & forecast parameters
1.1.2. Methodology and forecast parameters
1.2. Data Sources
Chapter 2. Barge Transportation Market Summary
2.1. Barge transportation industry 360° synopsis, 2015 – 2026
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Barge fleet trends
2.1.4. Application trends
2.1.5. Regional trends
Chapter 3. Barge Transportation Market Insights
3.1. Industry segmentation
3.2. Industry landscape, 2015 – 2026
3.3. Impact analysis of COVID-19 pandemic
3.3.1. Global outlook
3.3.2. Impact by region
220.127.116.11. North America
18.104.22.168. Asia Pacific
22.214.171.124. Latin America
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