Barge Transportation Market Size By Product (Dry Cargo, Liquid Cargo, Gaseous Cargo), By Barge Fleet (Open, Covered, Tank), By Application (Coal & Crude Petroleum, Agricultural Products, Coke & Refined Petroleum Products, Metal Ores, Secondary Raw Materials & Wastes, Food Products, Beverages & Tobacco, Basic Metals & Fabricated Metal Products, Chemicals, Rubber & Plastic, Nuclear Fuel), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024

Published Date: Sep 2018  |  Report ID: GMI1945  |  Authors: Ankita Bhutani

Report Format: PDF   |   Pages: 300   |   Base Year: 2017

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Barge Transportation Market size valued at USD 121 billion in 2017 and is estimated to garner over 5% CAGR from 2018 to 2024. Growing intermodal transportation services in various industries across the globe is driving the market revenue.

The enhanced customer service solutions along with greater regional accessibility will provide significant growth prospects over the projected timeframe. Increasing user friendly software solutions coupled with enhanced safety of the barges will further contribute to increased adoption rates.

Barge Transportation Market

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The advantages offered by the barge ships including optimum fuel usage, emissions, better loading capacity in comparison with railcars and trucks will escalate the industry demand over the forecast timeframe. Increasing petrochemical and crude oil shipments demand along with the modernisation of existing barge boats will further escalate the barge transportation market share.

The vast network of the barges for transporting goods across countries makes this system ideal for transporting bulk products. The barge transportation is preferred by the agricultural industry from transporting goods for export to various international markets owing to their low cost.

The introduction of several innovative features including navigational aids, GPRS facilities, and GPS location tracking will play a key role in enabling efficient and fast travel of the barges making them ideal for major companies involved in export and import of goods. The increasing adoption of safety equipment in the barges such as the double hulls, and integrated inner and outer hulls results in lesser spills and lower the probability of accidents, thereby providing a positive outlook for the barge transportation industry.

High cost associated with the construction and maintenance of barge fleet are considered as a major limiting factor for the barge transportation service providers. The climatic conditions, international waterways regulations, and increased delivery timelines may hamper the market demand. However, high returns on investment from these vessels will attract investments from service provides positively influencing the industry growth.

Barge Transportation Market Report Coverage
Report Coverage Details
Base Year: 2017 Market Size in 2017: 121 Billion (USD)
Historical Data for: 2013 to 2017 Forecast Period: 2018 to 2024
Forecast Period 2018 to 2024 CAGR: 5% 2024 Value Projection: 170 Billion (USD)
Pages: 300 Tables, Charts & Figures: 378
Geographies covered (13): U.S., Canada, Germany, UK, France, France, Belgium, Netherlands, China, India, Japan, Brazil, Mexico
Segments covered: Product, Barge Fleet, Application and Region
Companies covered (23): ABC India Ltd., American Commercial Barge Liner (ACBL), Alter Logistics, Continental Corporation, American Commercial Lines LLC, Argosy International Inc., ATS, Inc., Blessey Marine Services, Inc, Bouchard Transportation Co. Inc., Campbell Transportation Company, Inc., Canal Barge, Contargo Waterway Logistics BV, Crounse Corporation, Heartland Barge, Ingram Marine Group, Kirby Corporation, Marquette Transportation Company LLC, McAllister Towing & Transportation Co. Ltd., Neska Container Line, Olson Marine Inc., PACC Offshore Services Holdings Ltd. (POSH), Poh Tiong Choon Logistics Limited, SEACOR Holdings, Inc
Growth Drivers:
  • Large capacity of barges and quality of inland waterways
  • Rising demand for petrochemical shipments
  • Port modernization
Pitfalls & Challenges:
  • High barge operating expenses
  • Stringent government regulations
  • Replacement of barges with pipelines for liquid cargo

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Market by Product

In 2017, dry cargo accounted for over 45% volume share in the barge transportation market and will continue its dominance owing to increased shipments of agricultural products, coal, and metal ores. Increasing fleet size coupled with efficient mode of transportation will further strengthens its dominance. Moreover, the increasing requirement for transporting municipal wastes and recyclable materials including glass, metal scraps, and paper will further proliferate the business growth over the study timeframe.

Liquid cargo will grow substantially in the coming years due to rising petrochemical shipments across the globe. Increasing offshore exploration activities along with the increasing demand for agricultural fertilizers, crude oil, and liquid chemicals will support the segment growth. The shale oil exploration in North America along with the increasing exports specially to India will further proliferate the industry demand.

Market by Application

The coal and crude petroleum segment of the barge transportation industry is projected to cross 2,600 shipment-million tonnes by 2024. Exports of coal from major countries including Canada, Russia, and the U.S. will support the segment dominance. The advanced exploration techniques including directional drilling and hydraulic fracturing results in the increase of oil production thereby driving the business share.

The coke and refined petroleum products segment will showcase a significant growth rate of over 3.5% in the forecast period. This can be credited to the increasing petroleum production in the U.S., China, and India. Further, rising crude oil prices are positively influencing the profitability of the Oil Marketing Companies supporting the segment growth. The OMCs prefer barge transportation owing to their cost benefit and lowering the overall midstream and downstream expenses.

Market by Barge Fleet

The open barge fleet is set to exceed $56 billion by 2024. The increasing transportation of non-perishable and heavy commodities including coal and iron ore will support the segment dominance. The cost effectiveness of these flatboats compared to the counterparts will further accelerate the market revenue generation over the next six years.

The barge transportation market size from covered barge fleet will register 3.1% growth to 2024. This can be attributed to the increased usage of covered barge narrowboats due to uncertain weather conditions. The larger load carrying capacities along with enhanced safety for the goods as compared to the open barges will further strengthen the segment share.

Market by Region

Asia Pacific accounted for the highest market revenue of over $34 billion in 2017 driven by increasing foreign exchange and trade activities related to chemical, and non-renewable materials. Increasing oil imports from North America and Middle East further strengthens the regional dominance. The availability of vast waterways channel along with continuously rising vessel freight traffic along the coastal areas are driving the market share.

North America barge transportation market value will grow significantly at 4% CAGR between 2018 and 2024. Increasing oil export activities from North Dakota and Saskatchewan to other states along with the increasing shale oil production fuels the regional growth. Further, the adoption of navigable inland waterways in Canada for carrying bulk freight coupled with the insufficient capacity of the existing pipelines will provide a positive outlook for the market.

Competitive Market Share

Kirby Corporation, SEACOR Holding, American Commercial Barge Line (ACBL), and Ingram Marine Group are among the prominent players in the market. Other notable players include Campbell Transportation, Heartland Barge, Canal Barge, ABC India Ltd., PACC Offshore Services Holdings (POSH), and PTC Logistics. Industry participants are actively involved in mergers and acquisitions for increasing their market share.

Frequently Asked Questions (FAQ) :

North America market will grow significantly at 4% CAGR between 2018 and 2024 led by increasing oil export activities from North Dakota and Saskatchewan to other states along with the increasing shale oil production.
The dry cargo product segment dominates the market with over 45% market volume share in 2017 and will continue its dominance owing to increased shipments of agricultural products, coal, and metal ores.
The coal and crude petroleum segment of the barge transportation industry is projected to cross 2,600 shipment-million tonnes by 2024.
Kirby Corporation, SEACOR Holding, American Commercial Barge Line (ACBL), and Ingram Marine Group are among the prominent players in the market.

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