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. (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.
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