Barge Transportation Market Is Set To Grow Exponentially Driven By Increasing Trade Activities
The barge transportation market involves the use of non-self-propelled vessels or flat-bottomed boats to transport goods via rivers, canals, and coastal waters. Barges can carry very heavy loads at low costs for distances between 100-1000 miles. They are a more economical mode of transportation as they can carry over 3000 tonnes of cargo in a single trip.
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 2024 to 2031.
The Barge Transportation Market Trends growing demand for cost-effective transportation of bulk commodities like coal, petroleum products, grains, and other raw materials is fueling market growth. The availability of extensive inland waterways in countries like the US, China, and Brazil is further driving the demand.
Barge transportation refers to a commercial cargo service that involves transportation of goods, commodities, and other bulk cargoes such as grains, coal, and oil through barges via inland waterways, oceans, seas, and lakes. Barges are generally used for transporting large quantities of bulk cargo over long distances cost-effectively in domestic as well as international waters. Barges have a large carrying capacity and ability to transport construction materials, heavy machinery, chemicals and petroleum products at lower freight rates compared to other modes of transport.
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