PUBLISHER: Grand View Research | PRODUCT CODE: 1611745
PUBLISHER: Grand View Research | PRODUCT CODE: 1611745
The global barge transportation market size is estimated to reach USD 168.49 billion by 2030, registering to grow at a CAGR of 3.7% from 2025 to 2030 according to a new report by Grand View Research, Inc. The market is projected to witness significant growth over the forecast period, thanks to growing intermodal transportation in several industries including petrochemicals, crude oil, and food processing. Several initiatives undertaken by various governments to encourage inland water transport and continued investments being made by various governments to develop inland water transport infrastructure. North America is expected to offer tremendous growth opportunities for the barge transportation market owing to the presence of several barge manufacturers and service providers, growing exports and imports, and abundance of waterways.
Barge transportation can be considered a cost-effective and high-capacity mode of transportation as compared to other modes of transport, such as road, rail, and air. Barges can support higher loads and ensure safety, particularly when it comes to transportation of large volumes of cargos. As a result, the adoption of barges is expected to increase over the forecast period.
Increasing spending on research and development activities and subsequent advancements in technology are resulting in the development of technologically advanced barges. LNG-fired barges are emerging as an environmentally-friendly alternative for conventional barges powered by diesel engines. Advancements in communication and navigation technologies coupled with the growing adoption of IoT and other smart technologies are triggering the efficiency and safety factor of barges.
The barge transportation market remains highly vulnerable to developments in the end-use industries, particularly the crude oil and petrochemical industries. The growth in the petrochemical industry and emerging opportunities in ethanol production are expected to positively influence the growth of the market. For instance, Kirby Corporation has recently acquired Higman Marine, Inc. owing to increasing opportunities in petrochemical and ethanol transportation activities.