Barge Transportation Market Regional Analysis:
European Market Insights
The Europe industry is poised to account for largest revenue share of 35% by 2035. Over the years, the European barge transport industry has been positively influenced by increasing investment in port development. For example, QTerminals announced a USD 120 million investment in the development of its port terminal in Ukraine in February 2020. The development of ports has led to increased oil and bulk trade, containers, and work for tugs in the country. A network of 2,000 kilometers of inland waterways in the United Kingdom offers ample opportunities for service providers to compete in the market.
The demand for barges in the region is being driven by factors such as improving economic conditions and a well-established network of inland waterways. The Netherlands has developed waterways to a high standard. In addition, various initiatives have been implemented by the Netherlands Government to develop a barge transportation management system in that country.
North American Market Insights
The barge transportation market share in the North America region is estimated to reach 28% by the end of 2035. The market in this region is driven by a well-established inland waterway infrastructure in the United States.
The United States is a resource-rich country in need of an efficient transportation network. With that in mind, a significant infrastructure of locks and dams, water storage reservoirs, hydropower stations, levees, and other facilities are located there which bodes well for the sector. There is also a huge potential for barge transport due to an increase in shale oil production in the U.S.
