The global Barge Transportation Market share report provides numbers for applications and regional segments of the industry covering historical as well as forecast data for decision makers. The huge carrying capacity of load carriers may drive the demand for barge transportation during the forecast period.
A common load carrier has the same capacity as that of 216 rail cars pulled by six locomotives and 1,050 trucks. Moreover, load carriers can move miles on one-gallon fuel with a ton of cargo, whereas trucks can move the same ton of cargo 145 miles on one gallon and trains can move same ton cargos 477 miles per gallon.
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For fatalities, 22 rail deaths and 79 truck deaths occur for one load carrier associated death. In addition, the rate of oil spills is very low in water load carriers as compared to other means of conveyance. A lesser number of accidents through inland waterways leads to an increase in the barge transportation market size.
The inland waterways for load carriers are restricted to the cities having rivers, seas, oceans, and canals. Route flexibility gives customers a suitable path for goods transfer with lesser efforts via ports equipped with appropriate equipment for goods storage and further having access to rails or roads. Route flexibility and low geographical access may act as restraining factors for the growth of the barge transportation industry size over the forecast period.
Development and modernization of existing fleet may create opportunities for the industry. Advancements in the fleet may include wireless communication, real-time vehicle tracking, theft detection, tracking the container having leakage, safety and security of goods, and alarms for unknown activities. With advanced features, customers may use inland waterways as the means for goods movement.
The petroleum industry is expected to have the maximum barge transportation market share in North America owing to manufacturers interest in crude oil production from untapped regions. Asia Pacific is estimated to have a considerable growth rate during the forecast period owing to large geographical access.
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Major players of the industry are Kirby Corporation, Ingram Marine Group, and SEACOR Holdings. Other players in the barge transportation market are American Barge Commercial Lines, Campbell Transportation, Canal Barge, ABC India, Poh Tiong Choon Logistics, and PACC Offshore Services Holdings.
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