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Barge Transportation Market– Global Industry
Analysis Report, Share, Size, Growth, Price Trends
and Forecast, 2024: Global Market Insights Inc.
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. Global barge transportation shipment volume is
expected to cross 12 billion tons till 2024. Huge capacity of the barges will majorly
drive the growth during the forecast timespan.
A single barge can carry goods with capacity of above 1500 tons at once which is far
more than that of railcars or trucks. Rising demand of petrochemical shipments
across the globe and increasing crude oil demand especially from developed
countries which include U.S. and Japan will further escalate the growth of barge
transportation market share over the next few years.
Rising investment from industry players to enhance their infrastructure and quality of
their fleet will fuel the barge transportation market growth over the forecast timespan.
Addition of propulsion nozzle helps in increasing the overall efficiency. Moreover,
restructuring of thruster tunnels reduces the transportation costs by 10-15%. These
advancements contribute to a significant reduction in greenhouse emissions. In
addition, integration of communication and navigation technology will induce
immense potential to the barge transportation market size till 2024.
GPS integration helps the operators to know about estimated delivery time and the
climatic conditions. LNG barge technology is increasingly gaining prominence in the
barge transportation market. It is an environment-friendly solution and helps to
reduce Sulphur, Nitrogen, and CO2 emissions by 30-80%. Moreover, this technology
helps cater to the mandatory standards and regulations. These technological
advancements are anticipated to escalate the industry growth over the forecast
timespan. Surging demand from applications including petrochemicals and
agricultural products is also responsible for substantial growth of barge
Dry cargo will account for highest barge transportation market share surpassing USD
79 billion till 2024. Rising demand from low-value bulk industries for transportation of
municipal wastes and recyclable materials will support the industry dominance.
Rising need of safe transportation of dry products such as farm products, coal, ore,
steel, lumber, and gravel will escalate the dry cargo market growth in the forecast
Liquid cargo is poised to exhibit highest CAGR over the forecast timeframe owing to
increased demand for liquid chemicals, crude oil, and agriculture fertilizers. Shifting
preference of oil & gas industries due to less spillage and damage is also
responsible for the substantial growth of the industry over the forecast timeline.
Coal and crude is anticipated to dominate the barge transportation market over the
forecast timespan with over 18% share owing to increasing coal shipments through
barges for accomplishment of trading activities in countries with coal scarcity. Rising
demand of petrochemical shipments has increased the production of crude oil, thus
fostering the industry growth till 2024. Technological advancements including
hydraulic fracturing and horizontal drilling will further escalate the industry size. Coke
& refined petroleum products is expected to showcase an exponential growth owing
to shifting preference towards barge transportation due to higher capacity and lesser
spillage than other transportation modes.
U.S. Barge Transportation Market Size, By Product, 2013 – 2024 (USD Billion)
Covered barges are anticipated to exhibit maximum share of over 37% till 2024
owing to increasing marine transportation across the globe due to lesser probability
of damages by uncertain weather conditions.
High revenue generation is also attributed to their larger capacity than open barges.
Tank barges will witness a substantial growth from 2017 to 2024 owing to increasing
petrochemical shipments from various regions, especially North America. Rising
investments from barge transportation market players for construction of new tank
barges and enhancement of their current fleet.
Asia Pacific barge transportation market is expected to cross USD 45 billion over the
forecast timeframe. The revenue generation is attributed to the availability of vast
waterways channel. Rising inland and coastal waterways freight traffic will further
support the industry growth till 2024.
North America barge transportation market is anticipated to grow at highest CAGR of
over 5%. This growth is attributed to high demand for petrochemical shipments from
the region. Moreover, presence of numerous industry players will further fuel the
industry growth till 2024.
American Commercial Barge Line (ACBL), Kirby Corporation, SEACOR Holdings,
and Campbell Transportation are among the prominent players in the barge
transportation market. Other notable players include Blessey Marine Services, PTC
Logistics, Canal Barge, and Heartland Barge. Industry players focus investing
heavily on modernization of their fleet for strengthening their foothold. For instance,
Kirby Corporation invested USD 135 million for construction of 66 new barges in
Segmentation of Barge Transportation Market:
Barge Transportation market research report includes in-depth coverage of the
industry with estimates & forecast in terms of volume in billion tons and revenue in
USD billion from 2013 to 2024, for the following segments:
Barge Transportation Market By Product
Barge Transportation Market By Application
Coal and crude petroleum
Coke and refined petroleum
Secondary raw materials and wastes
Food products, beverages, and tobacco
Basic metals, fabricated metal products
Chemicals, rubber and plastic, nuclear fuel
Barge Transportation Market By Barge Fleet
The above information has been provided for the following regions and countries:
• Middle East & Africa
Browse Related Report:
Marine Diesel Engines Market Size By Technology (Low Speed, Medium Speed,
High Speed), By Application (Merchant [Container Vessels, Tankers, Bulk Carriers,
Gas Carriers, Roll On/Roll Off], Offshore [Drilling Rigs And Ships, Anchor Handling
Vessels, Offshore Research Vessels, Floating Production Units, Platform Supply
Vessels], Cruise And Ferry [Cruise Vessels, Passenger Ferries, Cargo Ferries, Fast
Ferries, Yachts], Navy), Industry Analysis Report, Regional Outlook (U.S., Canada,
Germany, Italy, Norway, UK, France, Russia, Denmark, China, Japan, South Korea,
India, Australia, Vietnam, UAE, Saudi Arabia, Iran, Angola, Egypt, South Africa,
Mexico, Brazil, Argentina) Application Potential, Price Trends, Competitive Market
Share & Forecast, 2017 – 2024
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