US Barge Transportation Market Size and Forecast (2020 – 2030)
US Barge Transportation Market Size and Forecast (2020 – 2030), Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Liquid Cargo, Gaseous Cargo, and Dry Cargo), Barge Fleet (Covered Barge, Open Barge, and Tank Barge), Application (Coal, Petroleum Products, Chemicals, Metal Products, Food Products, and Others), and Country
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Description
Rise in Investments by Government to Improve Waterways Infrastructure is Creating Opportunities for the US barge transportation market Growth
While American ports are an important part of the economy, obsolete infrastructure and the COVID-19 epidemic have put them under strain. According to the American Society of Civil Engineers (ASCE) 2021 Report Card for America’s infrastructure, American ports were the source of more than 30 million jobs and contributed 26% to the national GDP in 2018. In March 2022, the Biden-Harris administration funded more than US$ 2.7 billion to Army Corps projects focused on enhancing ports and waterways around the country. President Biden’s Bipartisan infrastructure deal is set to invest in transformative projects that have the potential to stimulate the growth of other critical elements of US transportation infrastructure and supply chains, which is deemed as the largest federal investment in American port infrastructure and freight networks. The US Department of Transportation (DOT) has plans to permit port authorities to repurpose project cost savings to address supply chain issues. The Biden-Harris administration would continue to seek better flexibility and alternative solutions to address infrastructure needs related to supply chains. The administration has plans to invest additional US$ 110 billion in the maintenance of roads and bridges as well as to support the progress of big transformative projects. The wise delegation of these resources can significantly enhance supply chains and product mobility in the US. In response to the increased government emphasis on infrastructure renewal, the demand for port and multimodal transportation within marine transportation is anticipated to rise significantly in the coming years. Thus, a rise in government investments to improve waterways infrastructure presents a notable opportunity for companies in the US barge transportation market.
The US barge transportation market analysis is carried out by identifying and evaluating key players in the market. Alter Logistics, American Commercial Barge Line, Campbell Transportation Company, Inc., Ingram Marine Group, Kirby Corporation, Livingston International, and Blessey Marine Services, Inc are among the key players analyzed in the US barge transportation market report. The US barge transportation market report also includes growth prospects in light of current US barge transportation market trends and driving factors influencing the market growth.
Companies operating in the US barge transportation market highly adopt inorganic strategies such as mergers and acquisitions. The market initiative is a strategy adopted by companies to expand their footprint across the world and to meet the growing customer demand. The players present in the market are mainly focusing on product and service enhancements by integrating advanced features and technologies into their offerings to increase their US barge transportation market share.
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Metal and mineral mining is one of the major industries in the US as it contributes significantly to the growth of the national economy. According to American Mine Services, as of 2019, there were ~13,000 active mines, with an estimated valuation of US$ 61 billion, in the country. Their worth indicates the importance of the mining sector in revenue generation and employment opportunities. The growing mineral and metal extraction activities boost the contribution of the US in the global metal trade. Owing to an upsurge in local and international trade activities in the US, metal ore is expected to account for a significant share of the cargo industry throughout the forecast period. The US is one of the world’s leading exporters of metal ore. Automotive sales and construction activities are the major contributors to the demand for metal ores. According to a report by the US International Trade Commission (USITC), the domestic mineral and metal exports value grew by US$ 8.2 billion (8%) to reach US$ 108 billion in 2021, compared to the previous year. The country has also marked an increase in the exports of unprocessed and refined gold, precious metals and non-numismatic coins, steel mill products, ferrous scrap, copper, unwrought aluminum, zinc ore, and concentrates. In terms of value, mineral and metal imports in the US climbed by US$ 17.2 billion (9%) to reach US$ 200.1 billion in 2021, compared to the previous year. Imports of steel mill goods, precious metals, unwrought aluminum and aluminum mill products, copper and associated items, and ferroalloys recorded the biggest nominal rise. Thus, the increasing scale of metal trade propels the growth of the US barge transportation market size.
The increasing trade of agricultural, and oil and gas commodities is driving the US barge transportation market growth. The barge transportation of commodities such as wheat, soybeans, steel, lumber, coal, scrap iron, refined petroleum products, gypsum, rock, and manufactured equipment was valued at US$ 2–3 billion annually from the Arkansas River in the US in 2020.
Annual Barge Movement in US, by Agricultural Commodity, 2019–2021 (Million Ton)
Agricultural Commodity
2019
2020
2021
Wheat
3.97
4.2
4.4
Soyabean
31.19
31.22
31.6
Rice
1.89
1.95
1.98
Other Commodities
63.53
63.54
63.58
Feed Products
9.5
9.57
9.58
Corn
22.1
22.15
22.20
Sources: US Government
With growing exports and imports through waterways, the US is expected to offer tremendous growth opportunities to service providers and barge fleet operators. Barge transportation is also perceived as a cost-effective and high-capacity mode compared to road, rail, and air transportation. The US is spending considerable amounts on research and development to develop technologically advanced barges. The country also supports LNG-powered (i.e., liquefied natural gas-powered) barge fleets as an environmentally friendly alternative to conventional diesel-powered barges. The barge transportation industry is highly influenced by the latest communication and navigation technologies that increase the safety and efficiency of barges. Developments and price fluctuations in crude oil and petrochemical industries impact the US barge transportation market. According to the US Department of Energy, the US produced over 13.9 billion gallons of ethanol in 2020, becoming the world’s largest producer. Thus, the biofuel industry offers notable opportunities for the market in the US.
The US barge transportation market analysis is based on the following segments: type, fleet, and application. Based on type, dry cargo is estimated to hold a significant US barge transportation market share by 2030. The increased production of dry bulk commodities, innovation in dry cargo shipping, and growth in online freight platforms drive the dry cargo segment. On the basis of barge fleet, the market is segmented into the covered barge, open barge, and tank barge. The market for the covered barges segment is anticipated to grow the highest CAGR during the forecast period owing to their ability to aid protection against weather conditions. On the basis of application, the US barge transportation market share is segmented into coal, petroleum products, chemicals, metal products, food products, and others. The market for the petroleum products segment is anticipated to grow substantially in the coming years due to the expansion of the industrial sector and a high fuel consumption rate.
Bulk liquid commodities are often crude oil or oil distillation products or liquid gases carried at extremely low temperatures [-160°C for natural gas and -80°C for liquid petroleum gas (LPG)]. A few food products and beverages (wine, oil, etc.), and chemicals (ammonia) are also delivered in the form of these commodities. Pumping is required in all stages of liquid handling, including embarkation (loading from land) or disembarkation (unloading from vessels) of products. Large volumes of liquids are transported on specially designed boats called liquid bulk cargos, such as tankers. Liquid chemicals, petroleum products, and crude oil are examples of liquid cargo. The chemical industry is one of the major contributors to the US economy, as it contributes to more than 25% of the national GDP. Moreover, it is a crucial industry for the manufacturers of commercial and household goods. Such a well-established chemical industry has the potential to bolster the demand for liquid cargo barges in the US.
Americold Logistics Inc., Lineage Logistics LLC, United States Cold Storage Inc, Interstate Warehousing Inc, Newcold Cooperatief, Kloosterboer, Arcadia Cold Storage & Logistics, CTW Logistics, Burris Logistics, and VersaCold Logistics Services are among the key players analyzed in the US barge transportation market report. The report also includes growth prospects in light of current US barge transportation market trends and driving factors influencing the market growth.
The US barge transportation market report includes an analysis carried out by identifying and evaluating key players in the market. These companies highly adopt inorganic strategies. The market initiative is a strategy adopted by companies to expand their footprint across targeted geographies and to meet the growing customer demand. The players present in the US barge transportation market are also focusing on product and service enhancements by integrating advanced features and technologies into their offerings. A few recent developments by the key market players, as per their press releases, are listed below:
Year
News
2023
SEACOR Holdings Inc. announced signing a definitive agreement to sell Inland River Transport Holdings LLC to Ingram Barge Company LLC, a division of Nashville-based Ingram Marine Group.
2021
Centerline Logistics acquired Former Bouchard Transportation’s articulated tug and barge (ATB) units. This acquisition strengthened its ability to carry liquid petroleum products over the areas including the East, Gulf and West Coasts, as well as Hawaii and Alaska.
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TABLE OF CONTENTS
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
2.2.1 By Barge Fleet
2.2.2 By Type
2.2.3 By Application
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. US Barge Transportation Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
4.4 Average Barge Freight Rates
4.5 US Domestic Covered Barge Commodity, By Volume, 2022
4.6 Average Marine Freight Rates
4.7 Company wise barge fleet
4.8 US Fleet Analysis
5. US Barge Transportation Market – Key Market Dynamics
5.1 US Barge Transportation Market – Key Market Dynamics
5.1.1 Market Drivers
5.1.1.1 Increasing Demand for Cost-Effective Transportation
5.1.1.2 Surging Trade of Agriculture commodities and Metal Ores
5.1.2 Market Restraints
5.1.2.1 High Operating Cost of Barges
5.1.3 Market Opportunities
5.1.3.1 Rise in Investments by Government to Improve Waterways Infrastructure
5.1.4 Future Trends
5.1.4.1 Growing Demand for Green Transport
5.2 Impact of Drivers and Restraints:
6. US Barge Transportation Market Analysis
6.1 US Barge Transportation Market Revenue (US$ Million), 2022–2030
6.2 US Barge Transportation Market Forecast and Analysis
7. US Barge Transportation Market Analysis – by Type
7.1 Liquid Cargo
7.1.1 Overview
7.1.2 Liquid Cargo: US Barge Transportation Market – Revenue and Forecast to 2030 (US$ Million)
7.2 Gaseous Cargo
7.2.1 Overview
7.2.2 Gaseous Cargo: US Barge Transportation Market – Revenue and Forecast to 2030 (US$ Million)
7.3 Dry Cargo
7.3.1 Overview
7.3.2 Dry Cargo: US Barge Transportation Market – Revenue and Forecast to 2030 (US$ Million)
8. US Barge Transportation Market Analysis – by Barge Fleet
8.1 Covered Barge
8.1.1 Overview
8.1.2 Covered Barge: US Barge Transportation Market – Revenue and Forecast to 2030 (US$ Million)
8.2 Open Barge
8.2.1 Overview
8.2.2 Open Barge: US Barge Transportation Market – Revenue and Forecast to 2030 (US$ Million)
8.3 Tank Barge
8.3.1 Overview
8.3.2 Tank Barge: US Barge Transportation Market – Revenue and Forecast to 2030 (US$ Million)
9. US Barge Transportation Market Analysis – by Application
9.1 Coal
9.1.1 Overview
9.1.2 Coal: US Barge Transportation Market – Revenue and Forecast to 2030 (US$ Million)
9.2 Petroleum Products
9.2.1 Overview
9.2.2 Petroleum Products: US Barge Transportation Market – Revenue and Forecast to 2030 (US$ Million)
9.3 Chemicals
9.3.1 Overview
9.3.2 Chemicals: US Barge Transportation Market – Revenue and Forecast to 2030 (US$ Million)
9.4 Metal Products
9.4.1 Overview
9.4.2 Metal Products: US Barge Transportation Market – Revenue and Forecast to 2030 (US$ Million)
9.5 Food Products
9.5.1 Overview
9.5.2 Food Products: US Barge Transportation Market – Revenue and Forecast to 2030 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others: US Barge Transportation Market – Revenue and Forecast to 2030 (US$ Million)
10. US Barge Transportation Market – Impact of COVID-19 Pandemic
10.1 Pre & Post COVID-19 Impact
11. Competitive Landscape
11.1 Heat Map Analysis by Key Players
11.2 Company Positioning and Concentration
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 Merger and Acquisition
13. Company Profiles
13.1 Blessey Marine Services Inc
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 McAllister Towing and Transportation Co Inc
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Livingston International Inc
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Kirby Corp
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Southern Devall
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Campbell Transportation Co Inc
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Marquette Transportation Company LLC
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 American Commercial Barge Line LLC
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Alter Logistics Co
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Ingram Barge Co LLC
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Research Team
LIST OF TABLES
Table 2. List of Vendors
Table 3. Average Barge Freight Rates
Table 4. Covered Barge Volume by Commodity
Table 5. Average Marine Freight Rates
Table 6. Company wise barge fleet
Table 7. US Barge Transportation Market – Revenue and Forecast to 2030 (US$ Million)
Table 8. US Barge Transportation Market – Revenue and Forecast to 2030 (US$ Million) – by Type
Table 9. US Barge Transportation Market – Revenue and Forecast to 2030 (US$ Million) – by Barge Fleet
Table 10. US Barge Transportation Market – Revenue and Forecast to 2030 (US$ Million) – by Application
Table 11. Heat Map Analysis by Key Players
LIST OF FIGURES
Figure 2. Impact Analysis of Drivers and Restraints
Figure 3. US Barge Transportation Market Revenue (US$ Million), 2022–2030
Figure 4. US Barge Transportation Market Share (%) – by Type, 2022 and 2030
Figure 5. Liquid Cargo: US Barge Transportation Market– Revenue and Forecast to 2030 (US$ Million)
Figure 6. Gaseous Cargo: US Barge Transportation Market– Revenue and Forecast to 2030 (US$ Million)
Figure 7. Dry Cargo: US Barge Transportation Market– Revenue and Forecast to 2030 (US$ Million)
Figure 8. US Barge Transportation Market Share (%) – by Barge Fleet, 2022 and 2030
Figure 9. Covered Barge: US Barge Transportation Market– Revenue and Forecast to 2030 (US$ Million)
Figure 10. Open Barge: US Barge Transportation Market– Revenue and Forecast to 2030 (US$ Million)
Figure 11. Tank Barge: US Barge Transportation Market– Revenue and Forecast to 2030 (US$ Million)
Figure 12. US Barge Transportation Market Share (%) – by Application, 2022 and 2030
Figure 13. Coal: US Barge Transportation Market– Revenue and Forecast to 2030 (US$ Million)
Figure 14. Petroleum Products: US Barge Transportation Market– Revenue and Forecast to 2030 (US$ Million)
Figure 15. Chemicals: US Barge Transportation Market– Revenue and Forecast to 2030 (US$ Million)
Figure 16. Metal Products: US Barge Transportation Market– Revenue and Forecast to 2030 (US$ Million)
Figure 17. Food Products: US Barge Transportation Market– Revenue and Forecast to 2030 (US$ Million)
Figure 18. Others: US Barge Transportation Market– Revenue and Forecast to 2030 (US$ Million)
Figure 19. Company Positioning and Concentration
The List of Companies – US Barge Transportation Market
o Alter Logistics
o American Commercial Barge Line
o Campbell Transportation Company Inc
o Ingram Marine Group
o Kirby Corporation
o Livingston International
o Blessey Marine Services, Inc
o McAllister Towing and Transportation Co Inc
o Southern Devall
o Marquette Transportation Company LLC
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