NEW
YORK, July 4, 2024 /PRNewswire/ -- The
global barge transportation market size is estimated to grow
by USD 38.3 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of 5.39% during the forecast period. Rising crude oil movement by
barges is driving market growth, with a trend
towards growth opportunities in petrochemical industries.
However, high entry barrier in barge transportation market
poses a challenge. Key market players include 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., and Waalhaven
Holding BV.
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Type (Dry cargo barge
and Liquid cargo barge), Application (Agricultural products, Coal
and crude petroleum, Food and beverage, and Others), and Geography
(APAC, North America, Europe, South America, and Middle East and
Africa)
|
Region
Covered
|
APAC, North America,
Europe, South America, and Middle East and Africa
|
Key companies
profiled
|
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., and Waalhaven
Holding BV
|
Key Market Trends Fueling Growth
The US barge transportation market is set to expand due to the
rising demand for petrochemical shipments within the country. The
petrochemical sector's reliance on marine transportation,
particularly barges, is a significant factor fueling this growth.
The agricultural industry, which has extensive access to the inland
waterway system, also contributes to the demand for barges for
transporting farm products like agricultural chemicals. The global
petrochemicals market's expansion, driven by the construction,
automobile, and packaging industries, further boosts the barge
transportation market. In 2022, petrochemical companies increased
their production capacity in the US Gulf Coast by over 2397.09
million tons. These new plants, operational during the forecast
period, will necessitate the use of barges for transporting
petrochemicals, creating lucrative opportunities for barge
transportation service providers. As a result, the petrochemical
industry's growth trends are a major driver for the global barge
transportation market's growth during the forecast
period.
The barge transportation market is experiencing significant
growth due to the development of waterway infrastructure, making
waterways an attractive alternative to traditional road and rail
transport. With urban traffic congestion increasing, streamlined
logistics through waterways is becoming a popular solution for
moving bulk cargo, such as grains, food products, and dry bulk
cargo, over long distances. Manufacturing plants are also turning
to barge transport services to move raw materials and finished
products, including solar panels and eco-friendly solutions like
zero-emission barges, e-barges, and e-pushers. Cargo volumes are
increasing, particularly in sectors like cocoa beans and chemicals.
Travel restrictions and crew mobility challenges are being
addressed through innovative vessel operations. The market is also
seeing a shift towards carbon neutrality, with a focus on using
renewable energy sources and reducing emissions from vessels.
Waterway networks, including rivers and canals, are being expanded
to accommodate larger vessels carrying a variety of specialized
goods, from crude oils and metal ores to liquid cargo and finished
products.
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Market Challenges
- The barge transportation market is characterized by significant
capital investments for barge line operators. The Jones Act, a US
protectionist policy, increases the cost of US-built barges, which
are approximately four times more expensive than foreign-built
ones. Ongoing expenses, such as upgrading, cleaning, crew wages,
and docking charges, add to the high maintenance costs. These
factors contribute to the high entry barrier in the US market,
making it challenging for global barge transportation market growth
during the forecast period. US citizens must own and build barges
under the Jones Act, limiting foreign competition in the US marine
transportation industry.
- Barge transportation plays a crucial role in moving bulk cargo
across various water bodies. However, the industry faces several
challenges. Designing efficient barges that can navigate through
dams and other obstacles is a significant hurdle. Propulsion
systems require continuous improvement to enhance transportation
capacity. Green logistics initiatives are essential to reduce
carbon footprint and comply with regulations. Navigable rivers and
water bodies serve as transportation routes, but dams and other
infrastructure can limit access. Industry expertise and supportive
policies are vital to overcome these challenges. Regulations
regarding safety and security are crucial, with concerns over
unauthorized access, theft, and tampering. The dry cargo segment,
including grain, aggregates, and construction materials, dominates
the market. Coal, ores, and agricultural products are common
cargos. Security benefits make barge transportation an attractive
option for industries like manufacturing and transportation of
sensitive goods like nuclear fuel, beverages, tobacco, and
fabricated metal products. Modernization of barge fleet, including
open barges, covered barges, and tank barges, is essential to meet
evolving demand. Intracoastal and inland water transportation
play a significant role in the industry. Dredging operations are
necessary to maintain transportation capacity. Application segments
include agricultural products, rubber and plastic, and various
industries like nuclear fuel, beverages, tobacco, and fabricated
metal products.
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challenges - Download a Sample Report
Segment Overview
This barge transportation market report extensively covers
market segmentation by
- Type
- 1.1 Dry cargo barge
- 1.2 Liquid cargo barge
- Application
- 2.1 Agricultural products
- 2.2 Coal and crude petroleum
- 2.3 Food and beverage
- 2.4 Others
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Dry cargo barge- The global barge transportation
market for dry cargo is projected to expand during the forecast
period. The primary driver for this growth is the increasing dry
cargo capacity worldwide. The demand for leased dry containers will
increase due to the expanding agriculture sector and the production
of electronic goods, home appliances, textiles, and other bulk
materials in countries like China,
India, Australia, Russia, the US, Mexico, South
Africa, and Brazil. These
nations, with large populations and high demand for commodities
such as agricultural products, electronic goods, textiles, and
nonperishable items, will fuel the growth of the dry container
segment in the barge transportation market. In 2022, China, India,
the US, and Brazil were
significant producers, consumers, and importers of food products,
with a focus on nonperishable agricultural produce like wheat,
which is transported using dry containers. As a result, the growth
in the production of wheat and other nonperishable products will
propel the dry containers segment of the global barge
transportation market forward during the forecast period. (Word
count: 98)
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Research Analysis
The barge transportation market encompasses the use of boats and
large vessels for moving goods on inland waterways, including
rivers and canals. This mode of transport is particularly popular
for bulk cargo, such as dry bulk commodities like grains and coal,
as well as liquid cargo like oil and chemicals. Barges are
flat-bottomed vessels, making them ideal for navigating shallow
waterways and intercoastal routes. Inland waterway transportation
is a crucial component of the shipping industry, offering
streamlined logistics and reducing urban traffic congestion.
Regional waterway infrastructure plays a significant role in the
market's growth, with ongoing modernization and dredging operations
to accommodate larger vessels and increased cargo volumes. Inland
waterways transport is an essential alternative to traditional
trucking and rail transportation for oversized loads and bulk
commodities.
Market Research Overview
Barge transportation is an essential mode of cargo freight,
particularly for bulk goods such as grains, food products, metal
ores, crude oils, chemicals, and minerals. It utilizes large
vessels, including flat-bottomed boats and shallow-draft vessels,
to transport goods through inland waterways, rivers, and canals.
This carbon-neutral option reduces the need for road freight
transportation and helps decrease carbon footprints. However, it
faces challenges such as accidents, fatalities, and fuel
consumption. Tugboats tow large ocean-going barges, while barracks
and liquid cargo barges carry crew members and cargo materials,
respectively. Split hopper barges facilitate the transportation of
dry bulk cargo, while conveyor belts and port infrastructure
streamline the loading and unloading process. Seaports and river
projects are key areas of investment for the barge transportation
market, with seaport expansions and trade driving growth. The
industry faces competition from rail, trucks, pipelines, and modal
shift initiatives, necessitating innovative barge design,
propulsion systems, and green logistics initiatives. Navigational
channels, locks, and weather conditions also impact the efficiency
and safety of barge transportation.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- 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
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
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/
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