What is Barge Services Market Scope?
The recent development done for oil and gas shipments and transportation within the western regions has fuelled up the market for Barge services across the globe majorly in coastal regions. The key manufacturers in this market have made good earnings due to the rise in marine fuel sales across the world. Hence still an ongoing demand for the products that need to be transported through the water lines is driving the market in a certain way.
The Barge Services market study is being classified by Type (Water Transport, Heavy-Haul Inland Transport, Heavylift Site Erection Services and Other), by Application (Chemicals and Allied Products, Coal, Crude Materials, Food and Farm Products and Petroleum Products) and major geographies with country level break-up.
Analysts at AMA predicts that Manufacturers from United States will contribute to the maximum growth of Global Barge Services market throughout the predicted period.
Intermarine (Italy), Campbell Transportation Company (United States), Lynden Inc. (United States), Livingston International (Canada), Cooper/T. Smith Corporation (United States), Westar Marine Services (United States), Columbia Group (United States) and Pelagic Marine Services (Australia) are some of the key players profiled in the study.
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Barge Services market by Type, Application and Region.
On the basis of geography, the market of Barge Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
On April 23rd, 2019, The United States Maritime Administration has awarded USD 6.79 million in federal marine highway grants to container-on-barge projects in Louisiana and Virginia and a waterborne service that will move farm products between Long Island and Connecticut.
Influencing Market Trend
- Rising trend of Using Water as the Source of Medium for Transportation oil and Gas
- The Import-Export of Crude Oil and Petrochemical is Extensively Depended upon Marine Transportation and has Become the Trend for Barge Transportation
- Increasing Public-Private Partnerships (PPP) in Ports
Market Drivers
- The Heavy Dependency on Crude Oil across the world Majorly in Middle East Region
- Rising Benefits of these Barges such as Easy Inland Transportation, Large Carrying Capacity
Opportunities
- New Oil Discoveries Gives this Industry an Opportunity
- The Strong Interconnectivity of Canal and Rivers across the Countries and Regions will Fuel the Industry
Restraints
- Self-Propelled Barge is Costlier while Non Powered barge is Slow
- Stringent Regulations for Reducing Emissions and Improving the Efficiency of the Barges
Challenges
- Higher Acquisition and Maintenance Costs
- Preference of Shifting from Barges to Pipelines for Transportation of Liquid Cargo may Hamper the Market
Key Target Audience
Potential Investors, Government Bodies and Associations, Up and Down Stream Vendors, Private Research Organizations, Suppliers and Distributors and Others
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