Barge Transportation Market Is Driven By Growing Waterways Trade...

Barge Transportation Market Is Driven By Growing Waterways Trade Activities

Posted 2024-04-17 11:59:04

Barge transportation involves the use of non-self-propelled vessels or towed vessels for commercial purposes on inland waterways, rivers, oceans, and seas. It is commonly used to transport bulk cargo such as grains, coal, ores, stones, and other bulk goods in large quantities over long distance. Barges are highly cost-effective and environment-friendly mode of transportation for cargo when compared to road or rail transport. Factors such as increasing agricultural production, mining and industrial activities have increased the demand for bulk cargo transportation, thereby supporting the growth of the barge transportation market.

The Global Barge Transportation Market is estimated to be valued at US$ 175.83 Bn in 2024 and is expected to exhibit a CAGR of 3.7% over the forecast period from 2024 to 2031. Barge transportation allows bulk shipments at low costs, helping several industries and economies worldwide. It reduces inland logistics costs and carbon footprint of supply chains.

Key Takeaways

Key players operating in the Barge Transportation are ABC India Ltd., Alter Logistics, American Commercial Barge Line (ACBL), Anderson Trucking Service Inc., Bouchard Transportation Co. Inc., Blessey Marine, Canal Barge Company, Campbell Transportation Company Inc., Crowley Maritime Corporation, Heartland Barge Management LLC, Ingram Marine Group, Kirby Corporation, McAllister Towing and Transportation Co. Inc., Marquette Transportation Company LLC, Neska Container Line B.V., PACC Offshore Services Holdings Ltd., Poh Tiong Choon Logistics Ltd., SEACOR Marine Holdings Inc., Summit Eleven Inc.

The growing trade in agricultural, mining and industrial bulk commodities across major global Barge Transportation Market Trends economies is propelling the demand for barge transportation. Key industries such as food & beverages, chemicals and petroleum products widely rely on barge transport for supply chain logistics.

Major barge operators are focusing on fleet expansion and global geographical reach to leverage the growing seaborne trade opportunities. Several markets in Asia Pacific and South America are witnessing increasing adoption of barge transportation for domestic waterways cargo movement. This is expected to drive the global expansion of the barge transportation market during the forecast period.

Get more insights, On Barge Transportation Market