Global Barge Transportation Market 2018-2022
About Barge Transportation
Bargetransportation service providers engaged in the global barge transportation market purchase barge fleet from barge manufacturers or lessors and offer transportation services for both dry and liquid bulk cargo transportation end-users.
Technavio’s analysts forecast the global barge transportation market to grow at a CAGR of 3.83 % during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global barge transportation market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of barge transportation.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Barge Transportation Market 2018-2022
Technavio recognizes the following companies as the key players in the global barge transportation market: ACBL, Danser Group, Ingram Marine Group, Kirby, and SEACOR
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is high opportunities in ethanol transportation. The global ethanol production is witnessing an upward growth after a slight decline in 2012. The US and Brazil are the major ethanol producers. Both the countries held 84%-86% of the global ethanol production in 2016. Europe, China, and Canada also are contributors to the global ethanol production. The ethanol market is well-established in North America, whereas in APAC and Europe, the market is still in its growth stage. It is expected that the ethanol market in Europe is expected to witness a progressive growth during the forecast period.”
According to the report, one of the major drivers for this market is Growth in world seaborne trade. The global seaborne trade has been increasing since 2010. In 2015, it was valued that the global outcome of sea freight was around $370 - $390 billion which is equal to around 4%-5.2% of the global trade. Between 2009-2014, the global seaborne trade was primarily dominated by the dry bulk trade, followed by the container trade. However, during the middle of 2015 the slowdown of coal imports by China, one of the major contributors to the growth of the global seaborne trade, of around 32% affected the global seaborne dry bulk transportation. The oil trade is acquiring a higher share in the world seaborne trade than dry bulk trade.
Further, the report states that one of the major factors hindering the growth of this market is Decreasing sea freight rates. The overall sea freight rates across the globe have been fluctuating since 2006. The high dependency of sea freight rates on marine trade opportunities and marine cargo quantity is the key reason for the fluctuation of the sea freight rates. Therefore, the change in trade function and marine cargo capacity will directly reflect on the sea freight rates.
ACBL, Danser Group, Ingram Marine Group, Kirby, and SEACOR
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