Dry Bulk Shipping Market to Witness Widespread Expansion By 2030, Finds TMR

Published : 3 years ago, on 05/10/2021

Dry bulk shipping is the movement of major commodities carried in bulk, or lot, including iron ore, coal, and grain together with ships carrying steel products including steel plates, steel rods, and iron ore. Lumber or log and other commodities are classified as minor bulks. Dry bulk shipping service includes storage and modification including technical issues and/or pre-delivery inspections that are carried out before shipping of material or parts to the customer. Major bulks include iron ore, coal and grain, while minor bulks include sugar, cement, and steel products. Among major bulks, coal is extensively traded in terms of volume in dry bulk.

Key drivers of Dry Bulk Shipping Market

Rapid urbanization, industrialization, and economic growth is likely to propel the dry bulk shipping market across the globe. Growing infrastructure development, which requires significant use of steel products, is a key factor for driving the dry bulk shipping market across the globe. Major investments across the globe by various governments in transportation are anticipated to boost the dry bulk shipping market. Rise in transportation of coal and steel products is likely to boost the dry bulk shipping market across the globe.

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Developments in the supply chain management system are boosting the adoption of automotive production planning systems. Rise in sea transportation across the globe is estimated to boost the dry bulk shipping market, as sea transportation is the cheapest mode of transportation. Increase in technological developments including tracking of shipping material and assigning of an identification number to individual parts are likely to propel the dry bulk shipping market across the globe.

Asia Pacific and Europe to hold prominent share of global dry bulk shipping market

Europe is projected to hold a major share of the global dry bulk shipping market due to an increase in iron ore and coal transportation across the region. Europe has presence of major production industries, which would help boost the dry bulk shipping market across Europe. Followed by Europe, Asia Pacific is projected to hold a significant share of the global dry bulk shipping market due to an increase in industry production across the region. China is estimated to be a highly lucrative market for dry bulk shipping, which is likely to fuel the dry bulk shipping market across the region. China is a leading importer of iron ore and coal across the globe, which would help propel the dry bulk shipping market in Asia Pacific.

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Key Players Operating in Global Dry Bulk Shipping Market

The global dry bulk shipping market is highly concentrated owing to the presence of top manufacturers. A few of the key players operating in the dry bulk shipping market are:

• Diana Shipping, Inc.
• Star Bulk Carriers Corp
• Scorpio Bulkers, Inc.
• Genco Shipping & Trading Limited
• GAC
• Freeseas Inc.
• NYK Line
• Globus Maritime Limited
• Western Bulk
• Berge Bulk

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

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