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Global Barge Transportation Market to Grow at a CAGR of 3.50% During 2022-2027, Aided by the Rising Industrialisation Worldwide

According to a new report by EMR titled, ‘Global Barge Transportation Market Report and Forecast 2022-2027’, the market attained a value of around USD 130.9 billion in 2021. The industry is further expected to grow at a CAGR of 3.50% between 2022 and 2027 to reach a value of USD 160.7 billion by 2027.

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:

  • The market is divided, based on type, into liquid cargo, gaseous cargo, and dry cargo.
  • On the basis of barge fleet, the market can be distributed into covered barge, open barge, and tank barge.
  • Based on application, the industry is segregated into crude and petroleum products, coal and crude petroleum products, food products, beverages, and tobacco, metal ores and fabricated metal products, and chemicals, rubber and plastics, and nuclear fuel, among others.
  • The industry is segmented, on the basis of barge activities, into intracoastal transportation and inland water transportation.
  • Region-wise, the global market for barge transportation can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for barge transportation is being driven by the rapid industrialisation worldwide.
  • The increased demand for barge transportation in the petrochemical sector has significantly contributed to the market expansion.
  • The rapid technological advancements are also aiding the industry growth.
  • The rising investments by the governments in the development and expansion of the marine transportation sector are further propelling the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for barge transportation for the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the types, barge fleets, applications, barge activities, and regions of barge transportation.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

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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