Authored By: Sarah
11 Jul 2024

 Barge Transportation Market Size to grow by USD 38.3 billion between 2024-2028

According to a research report “ Barge Transportation Market” by Type (Dry cargo barge, Liquid cargo barge) Application (Agricultural products, Coal and crude petroleum, Food and beverage, Others) Geography (APAC, North America, Europe, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 38.3 billion, at a CAGR of  5.39% during the forecast period. The barge transportation market is experiencing significant growth due to the advantages it offers over pipelines for crude oil movement. Barges can transport larger quantities of crude oil at a more cost-effective price point compared to pipelines, which require substantial investments in technology and labor for construction. Additionally, the risk of spillage in pipeline transportation is approximately twice that of barges, making barge transportation a more secure option. Furthermore, the presence of abundant oil sand crude reserves near rivers in North America is driving the demand for barge transportation. With the anticipated rise in oil sand crude production during the forecast period, the need for barge transportation is expected to increase substantially.

Browse market data tables, figures, and in-depth TOC on “Barge Transportation Market” by Type (Dry cargo barge, Liquid cargo barge) Application (Agricultural products, Coal and crude petroleum, Food and beverage, Others) Geography (APAC, North America, Europe, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample

 

By Type, the Dry cargo barge segment is projected to dominate the market size in 2024

In the global barge transportation market, agricultural products represent a substantial segment due to their bulk nature and long-distance transportation requirements. Barge transportation offers distinct advantages over other modes, including cost efficiency and energy savings. With a large carrying capacity, barges can transport various agricultural commodities, such as grains, oilseeds, fruits, vegetables, and livestock feed. The expanding agricultural sector, driven by global population growth, dietary shifts, and the rising demand for biofuels, significantly influences the market demand for barge transportation of agricultural products.

By Application, Agricultural products  segment is expected to hold the largest market size for the year 2024

The global barge transportation market for dry cargo is projected to experience significant expansion during the forecast period. The primary driver of this growth is the increasing dry cargo capacity worldwide. The demand for leased dry containers is expected to surge, primarily due to the expansion of agriculture and manufacturing sectors in countries such as China, India, Australia, Russia, the US, Mexico, South Africa, and Brazil. These nations, with substantial populations and high demand for commodities like agricultural products, electronic goods, textiles, and nonperishable items, are key contributors to the market's growth.

APAC is forecasted to hold the largest market size by region in 2024

The barge transportation market represents a significant segment in the global logistics industry, offering cost-effective and eco-friendly solutions for bulk cargo transport. This mode of transport is particularly advantageous for heavy commodities such as coal, grains, and construction materials. With increasing demand for sustainable and efficient logistics solutions, the barge transportation market is poised for robust growth. This market is characterized by key players investing in advanced technologies and expanding their fleet to cater to the evolving needs of customers.

The Barge Transportation Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Alter Logistics Co.
  • American Commercial Barge Line LLC
  • Argosy International Inc.
  • Blessey Marine Services Inc.
  • Danser Group
  • Dubbelman Container Transporten BV
  • Ergon Inc.
  • Haeger and Schmidt Logistics GmbH
  • Heartland Barge Management LLC
  • Ingram Marine Group
  • Kirby Corp.
  • Livingston International Inc.
  • Marquette Transportation Co. LLC
  • McAllister Towing and Transportation Co. Inc.
  • neska Container Line BV
  • Poh Tiong Choon Logistics Ltd.
  • SEACOR Holdings Inc.
  • Singa KBH Industry Sdn Bhd
  • The Greenbrier Companies Inc.
  • Waalhaven Holding BV
.

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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 Barge Transportation Market encompasses the use of barges for transporting various finished products, specialized goods, and bulk cargo through waterway networks. Solar panels, cocoa beans, and agricultural products are among the many commodities moved via this eco-friendly solution. Opened barges, E-pushers, and E-barges are modern innovations that offer zero-emission transportation, reducing the carbon footprint in vessel operations. Bulk cargo, including coal, ores, and construction materials, is a significant application segment in the market. Inland waterway transportation, intracoastal transportation, and intermodal terminals are crucial transportation routes for cargo transfer. Manufacturing plants and agriculture rely on barge transportation for supply chain logistics, as it streamlines the movement of goods and reduces urban traffic congestion. However, challenges such as travel restrictions, theft, tampering, and unauthorized access pose security concerns. Barge transportation infrastructure includes waterways, waterway infrastructure, and modernization projects like dredging operations. Navigable rivers, dams, and seaports are essential water bodies for water freight activities. Regulations, supportive policies, and industry expertise are driving the market's growth. Modernization initiatives include the use of propulsion systems, streamlined designs, and the development of pipelines, trains, and trucks as alternative transportation methods. Competitive pressure, adverse weather, and accidents are some challenges faced by the industry. Barge transportation offers a climate-friendly option for transporting large volumes of cargo, including liquid cargo materials, minerals, and dry bulk cargo, using split hopper barges, tank barges, covered barges, and open barges. Tugboats and barracks barges are essential support vessels for towing operations and crew mobility. The market caters to various industries, including manufacturing, agriculture, and trade, with seaport expansions and river projects playing a crucial role in the growth of the barge transportation market.

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

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