May 8, 2017 - 11:23 AM EDT
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Top 3 Trends Impacting the Barge Transportation Market in Europe Through 2021: Technavio

Technavio’s latest market research report on the barge transportation market in Europe provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.

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Technavio has published a new report on the barge transportation market in Europe from 2017-2021. (G ...

Technavio has published a new report on the barge transportation market in Europe from 2017-2021. (Graphic: Business Wire)

Sharan Raj, a lead analyst from Technavio, specializing in research on the logistics sector, says, “In European corridors, barge transportation is used as an alternative to other modes of inland transportation such as road and rail. It is a sustainable and environment-friendly mode of transportation as it reduces CO₂ emission and energy consumption. Barge transportation is also highly economical as it is used in rivers that are naturally formed and infrastructure requirement is also limited.”

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The top three emerging market trends driving the barge transportation market in Europe according to Technavio research analysts are:

  • Development and modernization of existing fleets
  • Implementation of fuel cell technology
  • Volatile crude oil prices

Development and modernization of existing fleets

Manufacturers have not only developed new barge vessels but are also modernizing the existing fleets, with respect to retrofitting and structural alterations. This includes the replacement or renewal of the new power system, which improves the performance of vessels and aids in less fuel consumption. This also includes the addition of propulsion nozzles, which increases the efficiency of the system and helps to reduce fuel consumption by 8%-10%. Manufacturers also restructure the thruster tunnels in vessels to enhance the efficiency of vessels. All these can reduce transportation costs by 10%-15%.

Implementation of fuel cell technology

Fuel cell technology offers stationary power generation, portable power, and combined heat and power (CHP). This technology offers very low or negligible carbon emissions. Diesel generators are replaced using fuel cell technology. Hydrogen fuel cells have longer lives, which cuts down the requirement for barge operators to refuel the vessel time and again. With fuel cell technology implemented in barges, transit operations can last up to 3.5 days, without the need to refuel the system. In fuel systems, batteries supply about 65%-75% of the energy and the hydrogen fuel cell supplies about 20%-26% of the energy.

“During a 3.5 to 4-day trip, the CO₂ emission by fuel cells is negligible when compared with a diesel-powered barge, which would emit about 0.14 tons of CO₂,” says Sharan.

Though this system is extremely beneficial for the environment and enhances the economic performance, implementation of fuel cells is very expensive which hinders the manufacturers from switching to fuel cells.

Volatile crude oil prices

Crude oil, a petroleum product, is one of the major commodities that is carried by barges across Europe. Crude oil and other petroleum products are transported through barges as it is a safe mode of transportation when compared with road and rail transportation. Accidents and collisions during transportation of crude oil and other petroleum products on rail or road transportation can have a widespread impact on the environment and society apart from the loss of the commodity itself. Such widespread impact is not seen when they are transported through barges. Also, floating barriers have been placed in accident-prone areas, which curbs the spread of commodity, making it easier for the clean-up team to recover it.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at [email protected].

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 208 123 1770

Source: Business Wire (May 8, 2017 - 11:23 AM EDT)

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