The global dry bulk shipping market is expected to grow at a CAGR of 4.14% to reach $399.353 billion by 2024 from $313.077 billion in 2018. A bulk carrier is a seagoing vessel that is specially designed to transport that have a higher tolerance to heat and cold and unpackaged bulk cargo such as grains, coal, ores etc. in its cargo holds. As dry cargo shipment doesn’t require special types of precautions (as required for carrying liquid and gases), dry bulk carriers don’t have onboard temperature control equipment. Today, bulk of international trade is carried out by thousands of dry cargo carriers transporting goods to ports across the world.
Factors such as high economic growth, rising population and rapid urbanization, and growing steel production are boosting the need for shipping various materials used across different industries. Stronger industrial production across the globe has benefitted the dry bulk shipping market. Improving charter rates will also have positive impact on the market during the forecast period. As the name suggests, dry bulk cargoes need to be kept dry, any moisture that finds its way into the cargo could ruin the entire load, at considerable cost to the ship owner. It may also be surprising to learn that many dry bulk cargoes are classified as ‘Dangerous Goods’ requiring special attention during loading, transportation and discharge, as they could shift during shipment, causing ship instability and is also hampering the growth of the market during the forecast period.
The Global Dry Bulk Shipping Market – Forecasts from 2019 to 2024” is an exhaustive study that aims to present the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key market, drivers, restraints, and opportunities in the current market. The report analyzes key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyzes the market through comprehensive market segmentation by Commodity Type, Vessel Type and geography.
Based on Commodity type, the market has been segmented as Iron ore, Coal, Grain, Bauxite and Others. On the basis of Vessel type, global dry bulk shipping market is segmented as Capesize, Handysize, Panamax and Handymax.
Regional analysis has been provided with detailed analysis and forecast for the period 2019 to 2024. The global market has been broken down into North America, South America, Europe, Middle East and Africa, and Asia Pacific regions. The report also analyzes major countries across these regions with thorough analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the manufacturers.
Major players in the Dry Bulk Shippingmarket have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in Dry Bulk Shipping market.