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The growth of the US petrochemical industry will be one of the major US barge transportation market drivers. There is a growing demand for petrochemical shipments in the US. The refineries and petrochemical facilities in the US are established along the navigable inland waterways since the petroleum and petrochemical industries heavily depend on the marine transportation system. Additionally, several US farm belts also use inland waterway systems such as barges for the transportation of farm products and agricultural chemicals. Furthermore, with the development of various industries such as the construction, automobile, and packaging that widely use petrochemicals the need for petrochemical shipments will increase in the coming years. With the growing demand, petrochemical companies have increased the capacity of their plants over the US Gulf Coast. This will in turn, drive the need for barge transportation, driving the barge transportation market growth.
The rise in construction of new tank barges and tugboats will be one of the primary barge transportation market trends. The rising need for crude oil in the US is one of the major factors driving the usage of tank barges through inland waterway transportation. Moreover, with the increasing demand for shipping services to transport liquid cargo, the adoption of tank barges is expected to increase in the US during the forecast period.
The barge transportation market in the US is highly concentrated due to the presence of few dominating vendors. Some of the major challenges for the vendors include the expenses incurred for the maintenance of barges and the aging barge fleet. Moreover, the vendors in the market primarily compete based on the price. However, due to increased emphasis on safety, environment, and quality, the trend is slowly shifting toward the single-source supply of all these services and the capability to handle a variety of tank barge requirements.
According to the barge transportation market analysis report, some of the key vendors are:
Other prominent vendors in the market include AgriChem Marine Transportation, Alter Logistics, Argosy Transportation, ATS International Services, Barge America, Blessey Marine Services, Bouchard Transportation, Campbell Transportation, Canal Barge, Ceres Barge Lines, Heartland Barge, and McAllister Towing and Transportation.
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The dry cargo barge segment accounted for the maximum barge transportation market share during 2016 and will continue to dominate the market for the next few years. One of the major factors responsible for the market segment’s growth is the transportation of mined coal through barges in the US.
According to the barge transportation market forecast report, coal accounted for the largest volume of the products transported in the barge transportation market in the U during 2016. However, with the declining demand for crude oil and natural gas, the market share of coal and crude oils segments will fall during the predicted period.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by type of barge fleet
PART 07: Market segmentation by products transported
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Key vendor analysis
PART 15: Appendix
PART 16: Explore Technavio
Tags: transport companies, canal barge, logistics services, international logistics, transportation and logistics market forecast, transportation and distribution market outlook,
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