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The global barge transportation industry is being driven by the rapid industrialisation worldwide. This can be attributed to the increasing investments in the development and expansion of commercial and industrial sectors, especially in emerging economies. In addition, the growing demand for barge transportation in the petrochemical industry is also supporting the market growth. Additionally, the rising demand for transportation of agricultural produce is also expected to catalyse the market growth. The rapid technological advancements such as the development of accurate navigation system and improved marine communication systems are expected to aid the market growth in the coming years. The expanding trade activities, fuelled by the adoption of favourable government policies and investments in the marine transportation sector are anticipated to aid the market growth.
The growing investments by the leading market players to expand barge fleet are expected to support the market growth in the forecast period. For instance, in April 2021, Kirby Corporation (NYSE: KEX) announced the acquisition of Savage Marine Inland’s inland barge fleet, which is an operator in the inland tank barge transportation in the United States. Furthermore, another leading vendor of marine transportation, SEACOR Marine Holdings Inc. (NYSE: SMHI) announced the acquisition of US Shipping Corporation, a leading vendor of marine long-haul transportation for chemicals and petroleum cargo across the United States. Such developments are expected to positively impact the growth of the barge transportation industry in the forecast period.
Market Breakup by Type, Barge Fleet, Application, Barge Activities, and Region:
Key Findings of the Report:
Key Offerings of the Report:
The major players in the global barge transportation market are Campbell Transportation Company, Inc., Alter Logistics, American Commercial Lines LLC, Heartland Barge, and Kirby Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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