US Barge Transportation Market Growth and Recent Trends by 2030

The US barge transportation market size is projected to grow from US$ 26,178.20 million in 2022 to US$ 50,010.20 million by 2030; it is expected to register a CAGR of 8.4% during 2022–2030.

Analyst Perspective:

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.

Market Overview:

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

US Barge Transportation Market

• Market Size 2022
  US$ 26,178.20 Million
• Market Size 2030
  US$ 50,010.20 Million

Market Dynamics

GROWTH DRIVERS

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FUTURE TRENDS

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OPPORTUNITIES

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Regional Overview

• United State

Market Segmentation

Type

• Liquid Cargo
• Gaseous Cargo
• Dry Cargo

Barge Fleet

• Covered Barge
• Open Barge
• Tank Barge

Application

• Coal
• Petroleum Products
• Chemicals
• Metal Products
• Food Products

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Market Driver:

Increasing Demand for Cost-Effective Transportation Propels US Barge Transportation Market

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. In August 2023, Morgan Stanley Infrastructure Partners (MSIP) and Crowley (a maritime, energy, and logistics solutions leader) announced the commission of a new joint venture to advance offshore wind port and barge solutions for the US. The MSIP operates as a part of the Morgan Stanley Investment Management (MSIM). Such initiatives signify that investors recognize the potential of barge transportation as a cost-effective mode of transportation.

Cost of the barge transportation is low compared to other modes of transportation. In 2021, the daily average of freight transportation systems in the US reached 53.6 million tons of freight, with a value of ~US$ 54 billion. The cost of transportation of the harvested commodities from the Mississippi River is nearly US$ 23.34 per ton. According to the Arkansas Waterways Commission, the cost per ton mile for barge is around US$ 0.97 per ton per mile, compared to US$ 2.53 per ton per mile for rail, and US$ 5.35 per ton per mile for truck transportation in the US. Thus, low cost and high load-carrying capacities of barges fuel the US barge transportation market growth.

The following chart provides a comparison between the barge capacity with rail and truck capacities.

Segmental Analysis:

Based on type, the market is segmented into liquid cargo, gaseous cargo, and dry cargo. The dry cargo segment held a major US barge transportation market share in 2022, and it is further anticipated to record the fastest CAGR during the forecast period. The growth of the US barge transportation market for the dry cargo segment is attributed to the increasing grain, steel, cement, fertilizer, and coal transportation activities, among other bulk commodity products. Dry cargo makes up most of the freight in the US. The country is home to some prominent businesses with substantial positions in the domestic inland barge dry cargo industry; these businesses own and operate a significantly large fleet of dry barges. Open barges are commonly used for transporting items such as bulk commodities, heavy equipment, construction materials, and oversized cargo. The design of open barges allows for easy loading and unloading of cargo, making them versatile for various types of shipments. They are often towed by tugboats or pushed by towboats along rivers, canals, and other inland waterways. Open barges come in different sizes and configurations to accommodate different types of cargo and shipping needs. They are well-suited for transporting bulk commodities such as coal, aggregates, grain, ores, and other raw materials. The open design allows for efficient loading and unloading of large quantities of loose materials. They offer a cost-effective and environmentally friendly means of moving large quantities of goods, especially in regions with well-developed waterway infrastructure.

The others segment includes products such as gravel, waste material, manufactured equipment, and processed materials. Investments by the US government in waterway development have allowed inland communities to compete in global markets, boosting pricing, cutting input costs, and allowing access to more profitable marketing options. Materials from the dredger are placed onto barges stationed near the dredger. The cargo is then transported to a predetermined spot, where it is unloaded from the barges by releasing it through the bottom of the barges using cables or hydraulically driven doors. Barges are also used for the transportation of concrete aggregates. On average, one barge can transport approximately 6,200 tons of concrete aggregates, which is equivalent to 390 trucks.

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Key Player Analysis:

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 covered in the US barge transportation market report.

Recent Developments:

Inorganic strategies such as mergers and acquisitions are highly adopted by companies in the US barge transportation market. The companies adopt these strategies to expand their footprint across the targeted geographies and to meet the growing customer demand. The market players mainly focus on product and service enhancements by integrating advanced features and technologies into their offerings. A few recent developments by the key US barge transportation market players, as per their press releases, are listed below:

US Barge Transportation Report Scope