New York City, NY: Aug 09, 2019 – (Wired Release): A latest professional intelligent research report published by MarketResearch.Biz with title Global Barge Transportation Market Report 2028 has the potential to help the decision makers of the crucial market in the world that has play a significant vital role in making a successive impact on the global economy. The Global Barge Transportation Market report offers and showcases a robust vision of the worldwide scenario in terms of market size, potentials and competitive landscape.
The global barge transportation market revenue is expected to expand at a lucrative CAGR over the forecast period. Rising number of government initiatives for the development of inland water infrastructure across the world is expected to drive revenue growth of barge transportation market.
Introduction:
Barge transportation is a popular mode for transportation for large industries in order to transport their cargo from one place to other. The barge is flat surfaced vessel toed to naval vessels used to transport cargo through waterways. Barges are generally utilized in water bodies such as rivers, canals, and lakes.
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Market Dynamics:
Growing demand for crude oil in developing economies such as India and China is a major factor expected to drive revenue growth of global barge transportation market over the forecast period. Moreover, benefits related to barge transportation such as cost-effectiveness, safety and security, and efficiency is another factor expected to drive revenue growth of target market over the next 10 years.
Cargo Type Insights:
On the basis of cargo type, the liquid cargo segment is expected to account for major revenue share in the global barge transportation market. Liquid cargo segment includes transportation of petroleum products, petrochemicals, liquid fertilizers, etc.
Barge Fleet Insights:
On the basis of barge fleet, the tank segment is expected to hold a major revenue share in the global market. Increasing demand for crude oil and petroleum products across the globe is major factor expected to drive revenue growth of this segment over the forecast period.
Application Insights:
On the basis of application, the crude and petroleum segment is expected to grow at a moderate rate over the forecast period. Increasing demand for crude oil and petroleum products in various end-use industries is major factor expected to drive revenue growth of this segment over the forecast period.
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Regional Insights:
Europe accounts for the major revenue share contribution of the global barge transportation market, followed by markets in North America, Asia Pacific, Middle East & Africa, and Latin America respectively. Europe market is estimated to account for major revenue share in the global target market and is expected to maintain its dominance over the forecast period. The growth of the barge transportation market in the region is attributed to the well-established inland waterways. Increasing number of government initiatives for barge transportation is expected to support revenue growth of barge transportation market in Europe. Moreover, the presence of a large number of companies providing barge transportation in the region is another factor expected to drive revenue growth of target market in Europe.
Key players operating in the global barge transportation market include American Commercial Barge Line LLC, Campbell Transportation Company, Inc., Heartland Barge, PACC Offshore Services Holdings Ltd., Kirby Corporation, Ingram Marine Group, McAllister Towing and Transportation Co., Inc., Bouchard Transportation, ABC India Ltd., and Alter Logistics.
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