Barge Transportation Market is Estimated to Attain US$ 12.93 billion by 2027

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Precedence Research’s latest report on the global automotive V2X market provides an analysis for the period of 2016 to 2027, wherein, 2020 is the base year, 2016 and before is historical data, and 2020 to 2027 is the forecast period.

The global automotive V2X market size is projected to reach US$ 12.93 Billion by 2027, rising at a market growth (CAGR) of 43.7% during the forecast period. The growth of the automotive V2X market is driven by increasing demand for safety features in an automobile along with a better traffic management system.

Precedence Research provides an in-depth analysis of market size, share analysis, Industry growth, market valuation, market dynamics which includes drivers, restraints, opportunities, trends, challenges, market segmentation, competitive landscape, regional and country breakdowns, and strategies for automotive V2X market. The study reviews the global industry by-products or services offered, downstream fields, end using customers, historic data figures regarding revenue and sales, market context, and more.

The report comprises a detailed value chain analysis, which provides a comprehensive view of this market. The Porter’s Five Forces model for the global market has also been included to help understand the competitive landscape. The study covers market attractiveness analysis, wherein resin types are benchmarked based on their market value, growth rate, and general attractiveness.

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Barge is a flat surfaced vessel used for cargo transportation through waterways. Barges are toed or tugged by naval vessels in the water bodies. Further, they are generally utilized in water bodies such as canals, rivers, and lakes; apart from this barge transportation is now largely used at sea ports. Barge is a popular mode of transportation embraced by major industries for transporting their cargo.

Growth Factors

Numerous benefits offered by barge transportation in terms of efficiency, cost, and security & safety of cargo propel the growth of the market. Rising import & export business along with improving economic condition across different parts of the world plays significant role in triggering the market growth. In addition, the barge transportation market holds intense growth potential in the near future due to increasing initiatives and investment by the government f different regions for development of inland water infrastructure. Further, various research activities are carried out by the industry participants to develop new and upgrade the existing barge designs. For instance, hybrid LNG barge is more environment-friendly and fuel-efficient alternative for conventional ones.

However, rapid development for advanced railway transportation projected to restrict the market growth. Moreover, increasing domestic trade and attractive return on investment induce significant growth potential for the market players in the coming years.

Regional Snapshots

Europe led the global barge transportation market with prominent revenue share of approximately 40% in the year 2019. The accelerating growth of the region attributed to the improved economic condition, significant development in industrialization, and well-established network for inland waterway in the region. European countries have large number of ports and water resources that makes them most favorable region for the growth of barge transportation. For instance, the Netherlands is located at the Rhine-Scheldt Delta that provides an important mode of international transportation. Furthermore, increase in the size of barge transportation fleet along with cooperation between public and private shipping companies significantly drives the growth of barge transportation industry in the country. Some of the European countries have planned out to completely shut down the coal production in the coming years, which will negatively impact the import and export of coal in those countries. For instance, German government announced in January 2020 to completely cut out its coal power by 2038.

The Asia Pacific registered lucrative growth for the barge transportation market during the forecast period. It follows Europe in terms of revenue share owing to major initiatives taken by the government along with rapid growth in the regional economy. Asia Pacific has enormous water resources and their extensive network. For instance, China has total 24,000 km of waterways network that comprises of Yangtze River, Grand Canal, and many other tributaries and canals.

Report Highlights

  • Europe dominated the global barge transportation market in 2019 with prominent market value share of around 40%. Increasing import and export trade activities across the region account for the prime factor driving the market growth.
  • By product, dry cargo led the global barge transportation market owing to increasing demand for iron ore, coal, and grains especially in the Asia Pacific, Germany, and the U.S. The segment is projected to cross the revenue of USD 22 Billion by 2027. High production volume of dry cargo products triggers the competition for advanced transportation, making it a preferred choice for the end-users.
  • In 2019, agriculture application accounted for significant revenue share and exceeded the market value of USD 4 Billion. Positive growth in the agricultural products creates huge demand for enhanced & efficient logistics services, supporting the accelerating growth of the market.
  • Increasing cross border import & export of petrochemicals and chemicals attributed for the significant growth of tank barges in the year 2019. The segment contributes nearly 25% of the value share in the global barge transportation market.

Key Players of the global automotive V2X market are:

  • SEACOR Holdings
  • American Commercial Barge Line (ACBL)
  • Ingram Marine Group
  • Campbell Transportation Company
  • Kirby Corporation
  • APL Logistics
  • Crowley Maritime Corporation

Segments Covered in the Report:

Market Segment

By Barge Fleet

  • Covered
  • Open
  • Tank

By Product

  • Liquid Cargo
  • Dry Cargo
  • Gaseous Cargo

By Application

  • Agricultural Products
  • Coal & Crude Petroleum
  • Metal Ores
  • Coke & Refined Petroleum Products
  • Food Products
  • Secondary Raw Materials & Wastes
  • Beverages & Tobacco
  • Rubber & Plastic
  • Chemicals
  • Nuclear Fuel

Regional Segment

  • North America (United States, Canada)
  • Europe (Germany, France, UK,  Italy, Russia, and Rest of Europe)
  • Asia-Pacific (China, Japan, India, Southeast Asia, Korea, and Rest of Asia Pacific)
  • Latin America (Brazil and the Rest of Latin America)
  • The Middle East and Africa (GCC, North Africa, South Africa, and Rest of the Middle East & Africa)

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