Barge Transportation Market

Barge Transportation Market Size & Overview – Key Insights & Forecast

Base Year: 2023 Historical Data: 2020-22
  • Report ID: TBI-14141
  • Published Date: Feb, 2024
  • Pages: 237
  • Category: Automotive & Transportation
  • Format: PDF
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Market Introduction

The global barge transportation market generated USD 132.57 billion revenue in 2023 and is projected to grow at a CAGR of 3.41% from 2024 to 2033. The market is expected to reach USD 185.38 billion by 2033. The surge in demand for oil and petroleum products bolsters trade and fosters the expansion of the barge transportation market. Moreover, the advantages offered by barge transportation, including cost-effectiveness, operational efficiency, and enhanced safety and security for cargo, are poised to drive market growth. Furthermore, the escalation in governmental backing for enhancing regional waterway infrastructure serves to fortify the industry's expansion, thereby presenting lucrative prospects for market advancement.

Barge transportation involves the movement of cargo, goods, and materials via flat-bottomed vessels known as barges. These vessels are primarily used for navigating inland waterways such as rivers, canals, and intercoastal routes. Barge transportation is a vital component of the shipping industry, offering an efficient and cost-effective means of transporting bulk commodities and oversized loads. Barges come in various sizes and configurations, ranging from small, shallow-draft vessels to large, ocean-going barges capable of carrying substantial cargo. Tugboats typically towed or pushed them, which provides the necessary propulsion and steering. One of the key advantages of barge transportation is its capability to transport huge quantities of goods with minimal fuel consumption, making it a climate-friendly option compared to other modes of transportation, such as trucks or trains. Barges can also accommodate a wide range of cargo, including bulk commodities like coal, grain, petroleum products, and construction materials. Barge transportation also offers flexibility regarding access to remote areas and ports that may not be easily reachable by road or rail. Additionally, barges can navigate shallow waters, allowing them to access inland ports and inaccessible terminals to larger vessels. Overall, barge transportation is crucial in facilitating trade and commerce, providing a reliable and efficient means of transporting goods domestically and internationally.

Barge Transportation Market Size

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Recent Development

  • In February 2024: Future-Ready Shipping (FRS), a pioneering initiative supported by the European Union through the Flagships project, in collaboration with the ZEM Ports NS project funded by Interreg, unveils the revolutionary H2 Barge 2. This innovative hydrogen-powered vessel represents a significant leap towards sustainable shipping practices, enabling the transportation of goods with zero emissions along the Rhine route linking Rotterdam (Netherlands) and Duisburg (Germany).
  • In June 2023: Cargill has joined Kotug International in a groundbreaking partnership to deploy Kotug's cutting-edge zero-emission E-Pusher (the world's first fully electric pusher boat) and E-Barges (the world's first fully electric pusher barges). These vessels are set to revolutionize the transportation of cocoa beans. Operating from the Port of Amsterdam, the global epicenter for cocoa imports, they will seamlessly ferry cargo to Cargill's cocoa facility in Zaandam, the Netherlands. Recognizing the pivotal role of pushers and barges in efficient waterborne logistics from Dutch ports to destinations within the Netherlands and beyond, Cargill has taken a historic step by becoming the inaugural company to integrate fully electrified vessels for inland shipping. This landmark initiative eradicates emissions and significantly reduces noise pollution, marking a momentous leap towards sustainable shipping practices.
  • In May 2023: ADM has partnered strategically with HGK Shipping to charter a cutting-edge barge featuring hybrid propulsion technology. This climate-smart barge is scheduled for completion this year and represents a pioneering European venture designed to transport dry goods. The barge is poised to slash CO2 emissions by an impressive 30% compared to prevailing industry standards. Notably, equipped with solar panels adorning its hatches, the vessel can generate up to 90 MWh of power, curbing CO2 emissions by a remarkable 70 tonnes annually. With future-oriented fuel options, the new hybrid barge is primed for transition to alternative energy sources. It operates on a hybrid engine, employing a diesel-electric drive configuration and a convenient drag-and-drop system to accommodate hydrogen power. This forward-thinking design incorporates designated hatches ready to receive hydrogen tanks, ensuring seamless integration of this sustainable power source to propel the vessel forward.
  • In March 2023: Campbell Transportation Company, Inc. (CTC), headquartered in Houston, Pennsylvania, has revealed its latest development: the signing of a definitive acquisition deal to acquire a significant portion of marine assets held by NGL Marine, LLC, a subsidiary of NGL Energy Partners LP, based in Tulsa, Oklahoma. The assets for the deal include a fleet comprising 13 towboats and 25 tank barges, serving as vital conduits for transporting refined products and crude oil to clientele along the Gulf Coast, according to NGL. Campbell will secure the lion's share of this fleet, while the remaining portion will be allocated to an undisclosed buyer. This acquisition underscores Campbell's strategic initiative to broaden its marine business operations, positioning the company for further diversification, as highlighted in its official statement.

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This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global barge transportation market based on below-mentioned segments:

Global Barge Transportation Market by Barge Fleet:

  • Open Barge
  • Covered Barge        
  • Tank Barge 

Global Barge Transportation Market by Type of Cargo:

  • Dry Cargo             
  • Liquid Cargo
  • Gaseous Cargo             

Global Barge Transportation Market by Application:

  • Agricultural Products
  • Coal and Crude Petroleum Products   
  • Coke and Refined Petroleum Products
  • Chemicals, Rubber and Plastic, Nuclear Fuel
  • Food Products, Beverages, and Tobacco
  • Metal Ores and Fabricated Metal Products
  • Others

Global Barge Transportation Market by Activities:

  • Intracoastal Transportation
  • Inland Water Transportation 

Global Barge Transportation Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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