Bulk Carrier Market: Information by Type, Application & Geography – Forecast to 2030
NEW YORK, NEW YORK 10013, UNITED STATES, Jan 14, 2022 /EINPresswire.com/ – Overview of the bulk transportation market:
The Dry Bulk Market is projected to be valued at $ 5,479.71 million by 2030, which is a 4% CAGR over the forecast period (2022-2030).
Several factors driving market growth
During the projection period, the worldwide Bulk transportation industry is expected to increase significantly. The expansion of maritime trade and an increase in iron ore and coal transports should drive demand for bulk carriers. International trade, the bulk transportation of raw materials, and the import / export of food and manufactured goods are all critical components of any economy. According to the International Chamber of Shipping, the international shipping industry handles around 90% of world trade. The increasing industrialization and liberalization of the national economies has led to an increasing demand for iron ore and coal, which is mainly covered by industry through maritime trade. Coal and iron ore are the most important raw materials for generating electricity and building long-term infrastructure. The rapid increase in electricity demand has increased the need for coal imports and exports. Such factors fuel the bulk carrier market.
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List of key companies portrayed in the dry cargo shipping industry research report are:
Scorpio Bulkers Inc (Monaco)
Golden Ocean (Bermuda)
Star Bulk Carriers Corporation (Greece)
Dampskibsselskabet Norden A / S (Denmark)
Pacific Basin Shipping Limited. (Hong Kong)
DryShips Inc (Greece)
Diana Shipping Inc. (Greece)
Western Bulk (Norway)
Marine Services Co. Ltd. (Saudi Arabia)
Belships ASA (Norway)
Masterbulk Pte Ltd (Singapore)
Ultrabulk A / S (Denmark)
Genco Shipping & Trading Limited (USA)
Western Bulk (Norway)
Marine Services Co. Ltd. (Saudi Arabia)
Marquette Transportation Company LLC. (US)
Search the in-depth 110-page dry matter shipping market research report: https://www.marketresearchfuture.com/reports/dry-bulk-shipping-market-8308
Sustainability dominates the shipping industry as the countries agree on CO2 neutrality. Different fleets of ships seem to be following the norm of investing in future fuels and carbon-free technologies. To comply with environmental regulations, fleets can use electric or hybrid motors, which can require significant ship modernization. The Danish shipping company NORDEN has provided a fleet for testing alternative fuels or wind drive technologies. The changes observed by many shipping companies can serve as a solid indicator of future business.
In early 2021, Castor Maritime Inc. acquired a Panamax bulk carrier to expand its fleet. Due to the increased trade in raw materials, this acquisition should generate enormous profits.
COVID-19 pandemic will have a positive impact on the market
The COVID-19 pandemic has shifted the supply of goods and raw materials to the ocean, with bulk shipping making the biggest gains. Businesses are investing in bulk carriers as the pandemic worsens and lockdown signals become more frequent. Due to the pandemic border restrictions, the demand for sea coal has increased sharply. Geopolitical conflicts between nations have spurred shipping and bulk carrier business. However, the increased use of containers in ports and export via marine freight have reduced the impact of bulk shipping. The collaboration between logistics companies and port operators has the potential to continue to provide the industry with advantages.
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Global bulk shipping has been segmented by type and application.
Based on the type, the global bulk transport market has been divided into Capesize, Panama, Supramax and Handysize.
Based on the application, the global dry bulk ship market has been divided into iron ore, coal, grain, bauxite / alumina, and phosphate rock.
China becomes world market leader
During the forecast period, China is expected to lead the bulk carrier market. China’s GDP rate was 6.9% in 2017. This high rate of growth bodes well for Chinese shipping and maritime trade, especially bulk shipping. This expansion is supported by a significant increase in iron ore imports to China, a revival of the global coal trade and improved growth in smaller bulk goods. Overall, China’s robust import demand for iron ore is the main driver of global dry matter trade growth.
China’s industrial activities and production improved a lot in 2017. In 2017, industrial production rose 6.5%, compared to a 6% increase in 2016. According to UNCTAD, China was the largest ship-owning country in 2018 with 5,512 merchant ships weighing 1,000 tons or more. Taken together, these factors are driving the expansion of the country’s bulk cargo market.
India follows China
Due to the global demand for coal and soybeans, India is also forecast to develop extremely well. Rising steel production is expected to drive demand in the bulk carrier market. In addition, the country’s status as a staunch importer and exporter of goods has increased its growth potential. India is a major supplier of rice. The product is shipped in bulk or in bags on Supramax carriers. The oil trade between the country and its neighbors can encourage investment in the country’s shipping. However, the lack of large ports can limit its growth.
Segmentation Of The Market Covered By The Research:
Information by type (Capesize, Panama, Supramax and Handysize), application (iron ore, coal, grain, bauxite / aluminum oxide and phosphate rock) and geography – forecast to 2027
Table of Contents:
1.1 Global market for bulk material transport according to type 12
1.1.1 Global Dry Freight Transport Market by Application 13
2.1 Definition 14
2.2 Market structure 14
2.3 Important purchase criteria 15
3 research methodology
3.1 Research process 16
3.2 Primary research 17
3.3 Desk research 18
3.4 Estimation of the market size 18
3.5 Forecast model 19
3.6 List of assumptions 20
3.7 Analysis of the macro factor indicators 20
4 market dynamics
4.1 Introduction 21
4.2 Driver 22
4.2.1 Growth in sea trade 22
4.2.2 Increase in iron ore and coal transport 23
4.2.3 Influence analysis of the drivers 23
4.3 Limitations 24
4.3.1 Stagnating economic situation 24
4.3.2 Impact analysis of restrictions 24
5 Market Factor Analysis
5.1 Supply chain analysis 25
5.1.1 Supply of goods 25
5.1.2 Owner & operator 25
5.1.3 End users 25
6 Global Bulk Carriage Market by Type
6.1 Overview 26
6.1.1 Cap size 26
6.1.2 Panamax 26
6.1.3 Supramax / Handymax 27
6.1.4 Cell phone size 27
7 Global Bulk Transportation Market By Application
7.1 Overview 29
7.1.1 Iron ore 29
7.1.2 Coal 29
7.1.3 Grit 29
7.1.4 Bauxite / aluminum oxide 30
7.1.5 Phosphate rock 30
7.1.6 Iron ore 31
8 Global Bulk Carrier Market by Region
8.1 Overview 33
8.2 China 36
8.2.1 Overview 36
8.3 Europe 38
8.3.1 Overview 38
8.4 North America 40
8.4.1 Overview 40
8.5 India 42
8.6 Japan 43
8.7 South America 45
8.7.1 Overview 45
8.8 Middle East & Africa 47
8.9 Rest of the world 49
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