US Barge Transportation Market Size and Forecast 2020 - 2030, Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type, Barge Fleet, Application, and Country

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.

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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