The US barge transportation market report includes growth prospects in light of current US barge transportation market trends and driving factors influencing the market growth. Key stakeholders in the market ecosystem include shippers, freight forwarders, terminal operators, barge operators, and end users. These stakeholders work together to transport cargo and handle equipment from origin to destination along the entire end-to-end supply chain. A shipper is a company responsible for organizing and transporting goods from one point to another. Freight forwarders act as intermediaries between the shipping company and the final market for goods. A port or terminal operator moves the cargo through a port at a contracted minimum level of productivity. Barge operators operate freight vessels on inland waterways such as rivers and canals or along coastal shipping routes. End users in the US barge transportation market can vary from businesses and domestic markets to ports from which exports are executed. Benefits associated with barge transportation include efficiency, security, and cargo safety, which favor the market in the US. An increase in dry cargo volumes and improvements in waterways logistics and transportation infrastructure further bolster the US barge transportation market growth.
A barge is a long, flat-bottomed boat specifically designed to carry cargo or transport passengers through waterways. It does not have a self-propelling mechanism and must be pulled by a tow or a tugboat. Challenges associated with heavy freight shipping such as not having a self-propelling mechanism are paving the way for barges as they are less expensive and more convenient to carry heavy loads. A standard barge that measures 195 feet in length and 35 feet in width has a capacity of 1,500 tons. Open-top and covered barges are employed to transport coal, grain, oil, chemicals, recyclable materials, sand, gravel, timber, iron ore, and other minerals. In the US, barges are gaining high popularity, which is evident from ~30,000 barges operating on the country’s waterways. The US inland waterways system includes 12,000 miles of commercially navigable channels. Inland marine highways move commodities to and from 38 states at low costs, contributing significantly to environment preservation and limiting traffic congestion.
The US barge transportation market is anticipated to grow significantly due to the intermodal transportation networks in the country, government initiatives to encourage water transport, and continued investments to upgrade waterway infrastructure. In December 2021, the US Department of Transportation’s Maritime Administration (MARAD) awarded US$ 12.6 million in grants to 9 marine highway projects under America’s Marine Highway Program (AMHP). The funding aims to address the supply chain disruptions and enhance waterborne freight services in Delaware, Hawaii, Indiana, Kentucky, Louisiana, North Carolina, New York, New Jersey, Tennessee, Texas, and Virginia. The AMHP and the Administration’s Port Action Plan are working toward modernizing port operations and initiating new inland waterway construction projects. An additional US$25 million has been provided by the Bipartisan Infrastructure Law to support marine highway and waterways projects in the US. The country is also actively involved in federal investments in ports by allocating significant budgets for port infrastructure development. Thus, the growing port infrastructure development is contributing to the growth of US barge transportation market size.
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US Barge Transportation Market: Strategic Insights
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 26,178.20 Million |
| Market Size by 2030 | US$ 50,010.20 Million |
| Global CAGR (2022 - 2030) | 8.4% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2030 |
| Segments Covered |
By Type
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| Regions and Countries Covered | United State
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| Market leaders and key company profiles |
The List of Companies - US Barge Transportation Market
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.
Cargo transportation through barges helps protect commodities from harsh and unpredictable weather conditions. Owing to their cost-effectiveness, barges are largely used to transport dry cargo, such as agricultural products. Sea routes are suitable for the shipment of large volumes at costs lower than other modes of transportation. Transit and transportation organizations in the US are adopting digital technologies to boost throughput, improve security, and provide a better customer experience. Transportation authorities are forming public–private partnerships to propel multimodal transportation.
According to the Global Infrastructure Outlook, a yearly investment of more than US$ 2 trillion in transportation infrastructure would be required through 2040 to support economic growth of US. Rapid urbanization, rising freight demand, and the COVID-19 response stimulus plans put pressure on stakeholders to accelerate infrastructure construction in the last couple of years. As freight activity grows in the US, air emissions from freight are projected to outpace growth in emissions from all other modes of transportation, including passenger transportation.
Alter Logistics, American Commercial Barge Line, Campbell Transportation Company, Inc., Ingram Marine Group, Kirby Corporation, Livingston International, and Blessey Marine Services, Inc are the key market players operating in the global US barge transportation market.