PUBLISHER: The Business Research Company | PRODUCT CODE: 1427718
PUBLISHER: The Business Research Company | PRODUCT CODE: 1427718
Barge transportation involves the movement of goods and cargo using barges, specialized freight-carrying vessels designed for navigation through rivers or canals. These vessels do not have self-propelling mechanisms and are typically flat-bottomed boats.
The primary types of barge transportation include dry bulk cargo barges, liquid cargo barges, car-float barges, power barges, and construction barges. Dry bulk cargo barges are used for transporting dry, unpackaged materials such as charcoal or grain. These vessels can be open barges, covered barges, or tank barges. Propulsion methods include towed barges and self-propelled barges. Barge transportation activities encompass Intracoastal and inland water transportation, serving various applications such as the movement of coal, crude petroleum products, food products, beverages, tobacco, metal ores, fabricated metal products, chemicals, rubber and plastic, nuclear fuel, and other commodities.
The barge transportation market research report is one of a series of new reports from The Business Research Company that provides barge transportation market statistics, including barge transportation industry global market size, regional shares, competitors with a barge transportation market share, detailed barge transportation market segments, market trends and opportunities, and any further data you may need to thrive in the barge transportation industry. This barge transportation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The barge transportation market size has grown strongly in recent years. It will grow from $131.2 billion in 2023 to $138.48 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period of barge transportation can be attributed to several factors, including robust infrastructure development, increasing demand for bulk cargo transportation, environmental benefits associated with barge transport, reliability and capacity advantages, and the overall enhancement of supply chain efficiency. These factors contributed to the historical expansion of barge transportation as a viable and efficient mode for moving goods and commodities.
The barge transportation market size is expected to see steady growth in the next few years. It will grow to $166.42 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. The anticipated growth in the forecast period for barge transportation is expected to be driven by sustainability initiatives, the expansion of global trade, increased integration with intermodal transportation systems, the resilience of barge transport to disruptions, and a continued demand for bulk commodities. Additionally, major trends in the forecast period are expected to include market diversification, a heightened focus on safety measures, the development of inland waterways, the handling of containerized cargo, and ongoing efforts to improve overall efficiency in barge transportation.
The surge in global trade is poised to significantly propel the barge transportation sector's expansion. Imports, referring to products and services acquired by a nation but originating from outside its borders, contribute to this growth. International trade, denoting the exchange of goods and services across international territories, witnessed a substantial increase. Notably, in February 2022, the United Nations Conference on Trade and Development reported a record-high international trade value of $28.5 trillion in 2021, marking a 25% upsurge from the previous year. This surge in international trade activity continues to be a driving force behind the barge transportation market.
The burgeoning e-commerce industry is expected to be a key catalyst for the growth of the barge transportation market in the foreseeable future. E-commerce, involving online buying and selling of goods and services, relies significantly on efficient logistics. Barge transportation serves as a crucial element in e-commerce logistics, particularly for the cost-effective and eco-friendly movement of bulk cargo and containers along waterways. Notably, as of November 2023, the International Trade Administration indicated the UK possessed the world's third-largest e-commerce market, following China. By January 2021, U.S. consumer e-commerce constituted 36.3% of the UK's total retail market, with projections foreseeing e-commerce revenue hitting $285.60 billion by 2025. Consequently, the expansion of the e-commerce sector remains a driving force propelling growth within the barge transportation market.
Technological advancements have emerged as a prominent trend driving the evolution of the barge transportation sector. Key industry players are prioritizing the development of cutting-edge technologies to solidify their market positions. A noteworthy example occurred in June 2023 when Cargill Incorporated, a US-based barge and carrier vessels manufacturer, collaborated with KOTUG, a Netherlands-based maritime and towage company, to introduce Kotug's zero-emission E-Pusher and E-Barges. These groundbreaking electric-propelled vessels represent a pioneering innovation in the transportation of cocoa beans. Equipped with state-of-the-art technology and advanced propulsion systems, these emissions-free vessels effectively eliminate hazardous pollutants such as carbon dioxide (CO2), sulfur oxides (SOx), nitrogen oxides (NOx), and particulate matter (PM).
Key players within the barge transportation industry are intensifying their efforts to introduce novel river barges, aiming to gain a competitive advantage. River barges, specifically designed for transportation on rivers and inland waterways, have become a focal point for market enhancement. An illustrative case took place in August 2022, involving Samus Shipyard, a Russia-based shipping company. Samus Shipyard launched its inaugural river barge for the Yenisei River Shipping Company, collaborating with Nornickel, an operator in the field. The construction of these barges commenced at the Samus shipyard following a contract signed in May 2021, amounting to over 2 billion rubles for the construction of 10 barges. These vessels, adopting the standard design of project RDB 66.68M, underwent modifications tailored to meet the specific operational requirements of Nornickel. This customization allows the barges to efficiently navigate both river and sea conditions, ensuring optimized performance.
In August 2021, SEACOR Holdings Inc., a US-based company involved in barge transportation and the petroleum industry, acquired U.S. Shipping Corp for an undisclosed amount. This acquisition has positioned SEABULK, part of the SEACOR family of enterprises, as one of the major Jones Act tanker operators, boasting a fleet of 15 coastwise tankers ranging in capacity from 150,000 to 330,000 gallons. The strategic move is geared towards providing enhanced flexibility, top-notch equipment, and excellent services to their respective customer bases in the future. U.S. Shipping Corp is a US-based company specializing in barge transportation of petroleum and chemicals.
Major companies operating in the barge transportation market report are Carrier Global Corporation, Emerson Electric Co., Americold Logistics LLC, Lineage Logistics LLC, Digi International Inc., ORBCOMM Inc., Cryoport Inc., Controlant AGM, Sensitech Inc., SpotSee Holdings LLC, ELPRO-BUCHS AG, Berlinger & Co AG, Hanwell Solutions Ltd., Tippmann Group, Cryopak Industries Inc., Savi Technology Inc., Rotronic AG, Maven Systems Pvt. Ltd., Klinge Corporation, Monnit Corporation, LogTag Recorders Ltd., Testo SE & Co. KGaA, Verigo, SecureRF Corporation, BT9 Ltd., Zest Labs Inc., Blulog, Gemini Data Loggers UK Ltd., Intelleflex Corporation, Infratab Inc.
Asia-Pacific was the largest region in the barge transportation market in 2023. The regions covered in the barge transportation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the barge transportation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The barge transportation market includes revenues earned by entities by shale barges, deck barges, hopper barges, and ocean barges. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Barge Transportation Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on barge transportation market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for barge transportation ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The barge transportation market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.