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Dry Bulk Shipping Market Size, Share, Statistics & Trends Analysis Report By Type, By Application, By Region, and Segment Forecasts, 2021 - 2027
Published Date: October 2021
|
Report Code: QYRE-Othe-4A274
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Dry Bulk Shipping Market

Dry Bulk Shipping Market Size, Share, Statistics & Trends Analysis Report By Type, By Application, By Region, and Segment Forecasts, 2021 - 2027

Code: QYRE-Othe-4A274
Report
October 2021
92 Pages
QYResearch
Region: Global, Europe, North America,
Description
Table of Content
Tables & Figures

Dry Bulk Shipping Market Outlook 2021

The global dry bulk shipping market size is projected to grow from USD 35 billion in 2020 to USD 101 billion by 2027; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 16% from 2021 to 2027. Major factors driving the growth of dry bulk shipping market size are rising population, accelerating economic growth, higher urbanization, rising steel production, and growing coal industry. On the contrary, the growth of high transportation and infrastructure costs along with the act of piracy and trading obstructions might hinder the growth of dry bulk shipping market size.

Dry Bulk Shipping Market

A bulk carrier is a seagoing vessel that is specially designed to transport unpackaged bulk cargo such as grains, coal, ore, and cement in its cargo holds. A dry bulk shipping company such as Golden Ocean Group simply owns a fleet of these ships that it then uses to transport bulk cargo for a customer in exchange for money. As these shipping firms effect the transport of large quantities of these goods across the oceans and between different companies, they are critical to international trade.

The dry bulk shipping industry appears to be quite strong, with slowly increasing global trade volumes. Time charter rates were broadly lower in the first quarter of 2018 compared to the fourth quarter of 2017 but this does not appear to be due to lower shipping volume. The number of Capesize ships in the global fleet is expected to steadily increase over the next few years.

The dry bulk shipping market size is expected to be driven by the seaborne trade of iron ore and coal. The primary raw materials required to generate electricity and to develop a sustainable infrastructure are coal and iron ore. The rapid rise in electricity demand has increased the need for coal import and export. The rise in industrialization and the liberalization of national economies has led to the demand for iron ore and coal, which is mainly met through seaborne trade by industries.

Dry Bulk Shipping Market Size

The Capesize segment is expected to hold the largest dry bulk shipping market share during the forecast period.

Iron ore is the most important cargo for the Capesize segment. Robust iron ore prices have spurred miners to increase their output, which has resulted in better demand for dry bulk shipping. Chinese iron ore imports have increased year on year. Furthermore, exports from Western Australia have also increased dramatically. The number of Capesize ships in the global fleet is expected to steadily increase over the forecast period. 

Based on the region, the dry bulk shipping market is expected to hold the largest market share during the forecast period.

This dominance is attributed to the increasing transportation of coal and iron ore across the region. Europe is also home to major production industries which are further fueling the dry bulk shipping market size in the region.

Due to an increase in industrial production across the region, Asia Pacific is also projected to hold a significant share in the global dry bulk shipping market.

China is expected to be a highly lucrative dry bulk shipping market in the Asia-Pacific region. Furthermore, China is the world's leading importer of iron ore and coal, which will help drive the Asia Pacific dry bulk shipping industry.

Major Players in the Dry Bulk Shipping Market

  •  Diana Shipping
  • Dry Ships, Inc.
  • Genco Shipping & Trading Ltd
  • Baltic Trading
  • Navios Maritime Holdings
  • Star Bulk Carriers
  • Baltic Trading
  • Navios Maritime Holdings
  • Others

“We can also add the other companies as you want”

Dry Bulk Shipping Market Segmentation

Dry Bulk Shipping Market data by Type

  • Time Charter
  • Voyage

Dry Bulk Shipping Market data by Application

  • Iron Ore
  • Coal
  • Grain
  • Steel Products
  • Lumber or Log
  • Other Commodities

Scope of the Dry Bulk Shipping Market Report

Report Metric

Details

Report Name

Dry Bulk Shipping Market

The market size in 2020

USD 35 Billion

The revenue forecast in 2027

USD 101 Billion

Growth Rate

CAGR of 16% from 2021-2027

Base year considered

2020

Forecast period

2021-2027

Forecast units

Value (USD)

Segments covered

Type, End-User, Offerings, and Region

Report coverage

Revenue & volume forecast, company share, competitive landscape, growth factors, and trends

Geographic regions covered

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Frequently Asked Questions About This Report

1. What will be the global dry bulk shipping market size from 2020 to 2027?

Ans. The global dry bulk shipping market size is projected to grow from USD 35 billion in 2020 to USD 101 billion by 2027.

2. What is the growth rate of the global dry bulk shipping market during the forecast period?

Ans. The global dry bulk shipping market is estimated to grow with a Compound Annual Growth Rate (CAGR) of 16% during the forecast period.

3. Who are the top companies hold the market share in the dry bulk shipping market?

Ans. Some key players operating in the dry bulk shipping market are Diana Shipping Dry Ships, Inc., Genco Shipping & Trading Ltd, Baltic Trading, Navios Maritime Holdings, Star Bulk Carriers, Baltic Trading, Navios Maritime Holdings, Others.

4. What are the upcoming trends or opportunities in the dry bulk shipping market?

Ans. Major factors driving the growth of dry bulk shipping market size are accelerating economic growth, higher urbanization, rising steel production, and growing coal industry. On the contrary, the growth of high transportation and infrastructure costs along with the act of piracy and trading obstructions might hinder the growth of dry bulk shipping market size.

5. Which region & countries will provide more business opportunities for dry bulk shipping in the future?

Ans. Europe is will provide more business opportunities for dry bulk shipping in the future.

6. Which is the most influencing segment growing in the global dry bulk shipping market report?

Ans. The Capesize segment is expected to hold the largest dry bulk shipping market share during the forecast period.

7. Does the report provide COVID-19 impact analysis?

Ans. Yes, the report includes a COVID-19 impact analysis. Also, it is further extended into every individual segment of the report.

TABLE OF CONTENT

 

LIST OF TABLES & FIGURES

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