Barge Transportation Market in APAC Region is Expected to Cross USD 5.5 Billion Tons By 2024

Asia Pacific is one of the most lucrative regional markets for barge transportation market. Indeed, APAC barge transportation industry held USD 34 billion in 2017, accounting for the highest revenue of the market share, primarily driven by the rising foreign exchange and trade activities. Furthermore, the growing number of oil imports from the Middle East and North America will add to the industry growth.
Another factor that will add to the growth of the APAC barge transportation industry is the availability of huge waterways in addition to the escalating vessel freight traffic, especially alongside the coastal areas. As per estimates, Asia Pacific barge transportation market shipments will be 5.5 billion tons by 2024.
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Barge transportation market has indeed gained a velocity in the past few years, and is in the midst of experiencing a profound commercialization portfolio, primarily driven by the escalating crude petrochemical shipments across the world. In this regard, it is important to note that U.S. and Japan are the two major economies where crude oil demand is significantly high, which quite aptly translates the profitability quotient of the barge transportation market in these regions. In fact, Asia Pacific is forecast to procure a significant portion of the overall industry, with a massive revenue collection by the end of 2024.
Global barge transportation industry to surpass USD 170 billion by the end of 2024. Growing investments in fleet modernization and increment in the barge number has substantially driven the market dynamics over the years. For instance, Kirby Corporation, one of the renowned barge transportation market giants, had spent almost USD 135 million in 2014 for the construction of 66 new island barges.
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Some of the other biggies involved in barge transportation market include American Commercial Barge Line, Campbell Transportation, Blessey Marine Services, Canal Barge, PTC Logistics, and Heartland Barge. The overall industry is restrained by some of the crucial factors such as huge initial cost associated with fleet construction, limitations of international water ways, and climatic conditions. However, leading companies are continuously focusing on overcoming these challenges as much as possible by incorporating technology in the business module. For instance, GPS integration has helped the operators get a clear picture of the climatic conditions and the delivery time.
Some Point from Table of Contents:
Data Tables:
TABLE 1. Barge transportation industry 3600 synopsis, 2013 - 2024
TABLE 2. Barge transportation industry volume and revenue, 2013 - 2017, (Million tons) (USD Million)
TABLE 3. Barge transportation industry volume and revenue, 2018 - 2024, (Million tons) (USD Million)
TABLE 4. Barge transportation industry volume by product, 2013 - 2017 (Million tons)
TABLE 5. Barge transportation industry volume by product, 2018 - 2024 (Million tons)
TABLE 6. Barge transportation industry revenue by product, 2013 - 2017 (USD Million)
TABLE 7. Barge transportation industry revenue by product, 2018 - 2024 (USD Million)
TABLE 8. Barge transportation industry volume by barge fleet, 2013 - 2017 (Million tons)
TABLE 9. Barge transportation industry volume by barge fleet, 2018 - 2024 (Million tons)
TABLE 10. Barge transportation industry revenue by barge fleet, 2013 - 2017 (USD Million)
TABLE 11. Barge transportation industry revenue by barge fleet, 2018 - 2024 (USD Million)
TABLE 12. Barge transportation market volume by application, 2013 - 2017 (Million tons)
TABLE 13. Barge transportation industry volume by application, 2018 - 2024 (Million tons)
TABLE 14. Barge transportation industry revenue by application, 2013 - 2017 (USD Million)
TABLE 15. Barge transportation market revenue by application, 2018 - 2024 (USD Million)
TABLE 16. Barge transportation market volume by region, 2013 - 2017 (Million tons)
TABLE 17. Barge transportation market volume by region, 2018 - 2024 (Million tons)
TABLE 18. Barge transportation industry revenue by region, 2013 - 2017 (USD Million)
TABLE 19. Barge transportation industry revenue by region, 2018 - 2024 (USD Million)
TABLE 20. Inland barge fleet by operator, 2017
TABLE 21. Vendor matrix
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