Latest News - Barge Transportation Market: Dry cargo barge is expected to lead the Type segment during 2024-2028

The Barge Transportation Market is being driven by Rising crude oil movement by barges

The Barge Transportation Market is expected to grow at a CAGR of 5.39% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 38.3 billion. The US barge transportation market is poised for growth due to the increasing demand for petrochemical shipments within the domestic market. The petrochemical industry's reliance on marine transportation, particularly barges, is a significant factor driving market expansion. The agricultural heartland in the US has access to the extensive inland waterway system for transporting farm products, such as agricultural chemicals, via the marine system, which encompasses barges. Petrochemicals are indispensable in various industries, including construction, automobile manufacturing, and packaging, which are experiencing growth and consequently boosting the global petrochemicals market. 

Get more information on Barge Transportation Market by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Dry cargo barge
  • Liquid cargo barge
• Application
  • Agricultural products
  • Coal and crude petroleum
  • Food and beverage
  • Others
• Geography
  • APAC
    • China
    • Japan
  • North America
    • US
  • Europe
    • Germany
    • The Netherlands
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rising crude oil movement by barges
• Rising demand for barges from grain transportation
• Growing e-commerce industry

However, the market also witnesses some limitations, which are as follows:

• High entry barrier in barge transportation market
• Presence of alternative
• Volatility in oil prices

Benefits of Buying Global Barge Transportation Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Barge Transportation Market Research Report

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The Barge Transportation Market is experiencing significant growth due to the increasing cargo volumes and the need to mitigate urban traffic congestion. Inland waterway transportation via barges is a cost-effective and eco-friendly alternative to traditional trucking and rail transport for bulk commodities like grains, liquid cargo, and dry bulk cargo. The modernization of waterway infrastructure, including dredging operations, is crucial for accommodating larger vessels and oversized loads. Waterways, such as canals and rivers, offer intercoastal routes for goods transportation, reducing the reliance on long-haul trucking and shipping industry routes. Flat-bottomed vessels, commonly used in barge transportation, can navigate through shallow waters and can carry larger loads than boats. The regional waterway infrastructure plays a vital role in the growth of the barge transportation market, enabling efficient trade and logistics. Overall, the streamlined nature of barge transportation makes it an attractive option for businesses looking to optimize their supply chains and reduce transportation costs.

Market Research Overview

The global diversified support services market encompasses businesses offering labor-intensive services to corporations and governments. This sector comprises companies providing commercial cleaning, dining and catering, equipment repair, industrial maintenance, auctioneering, storage and warehousing, transaction services, uniform rental, and other business support solutions. According to Technavio's market analysis, the commercial services and supplies industry's size is determined by the consolidated revenue generated by firms offering products and services in commercial printing, environmental and facilities, office services and supplies, security and alarm services, and diversified support services. The expansion of the global diversified support services market will be fueled by the rising outsourcing trend of support functions among businesses. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/