Dry Bulk Shipping Market size to grow by USD 930.41 million from 2021 to 2026, Increasing use of container security and tracking solutions to be an emerging market trend - Technavio

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Apr 07, 2023, 00:30 ET

NEW YORK, April 7, 2023 /PRNewswire/ -- Technavio has been monitoring the dry bulk shipping market, and it is expected to grow by USD 930.41 million from 2021 to 2026. As per the latest report, the market's growth momentum will decelerate at a CAGR of 3.59% during the forecast period. This report aids business leaders with an up-to-date analysis that includes the study of the current market scenario, the latest trends and drivers that are likely to influence the market growth, and the overall market environment. The increasing use of container and security solutions is an emerging trend driving the market growth during the forecast period. There is a growth in safety concerns among end-user industries in the global market following a rise in piracy and armed robbery incidents. Containers installed with a GPS tracking system are easily tracked. Hence, factors such as growing safety and security concerns, the increasing need to optimize logistics management systems to improve digital connectivity, and the growing global use of the Internet of things (IoT) are expected to drive the growth of the market during the forecast period. Download the Latest Sample Report!

Technavio has announced its latest market research report titled Global Dry Bulk Shipping Market

Dry Bulk Shipping Market 2022-2026: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our dry bulk shipping market report covers the following areas:

The market is fragmented and the degree of fragmentation will decelerate during the forecast period. Bulk Marine, Dampskibsselskabet Norden A/S, Diana Shipping Inc., Egon Oldendorff Management GmbH, Golden Ocean Group Ltd, Mitsui O.S.K. Lines Ltd., Nippon Yusen Kabushiki Kaisha, Pacific Basin Shipping Limited., Star Bulk Carriers Corp, and Western Bulk are some of the major market participants. Although the rising seaborne trade across the world will offer immense growth opportunities, volatility in steel prices will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Dry Bulk Shipping Market 2022-2026: Major Driver

The rising seaborne trade across the world is notably driving the dry bulk shipping market growth. Compared to barges and other shipping vessels, cargo through seaways can be transported in dry containers with minimal damage. Seaborne trade plays a vital role in economic growth in various countries. And distant suppliers have made it necessary for delivering goods through seaways. Some of the goods transported through container ships in bulk include coal, grains, and ores. Growth in seaborne trade is expected to drive the demand for ships, which, in turn, creates the need for marine electronics. Major emerging economies such as China and India have become crucial sources of manufacturing goods and commodities.

Key Challenge

One of the key challenges for the dry bulk shipping market growth is the volatile prices of steel pipes. Steel extracted from iron ore is a key raw material for manufacturing dry carriers and is considered to be the second-highest price-fluctuating commodity after oil, which will negatively affect the profit margins of shipping container manufacturers. Thus, the prices of steel need to be moderate and stable for healthy financial operations of shipping container manufacturers. Hence, the volatility of steel prices is estimated to have a negative impact on the dry bulk shipping market during the forecast period.

Dry Bulk Shipping Market 2022-2026: Segmentation

Type

Capesize
Panama
Supramax
Handysize

Geography

APAC
Europe
North America
South America
MEA

The market share growth by the capsize segment will be significant during the forecast period. The ships belonging to the largest class are known as capsize, and they can carry a variety of cargo in bulk predominantly. The growth in industrialization and liberalization of emerging economies has resulted in an increase in demand for commodities such as coal and iron ore. Furthermore, these large-sized vessels have to be passed through the Cape of Good Hope because they are unable to pass through narrow channels such as Panama. Hence, the vast size of the capsize vessels is expected to drive the segment growth during the forecast period.

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Dry Bulk Shipping Market 2022-2026: Vendor Analysis

We provide a detailed analysis of around 25 vendors operating in the dry bulk shipping market, including Bulk Marine, Dampskibsselskabet Norden A/S, Diana Shipping Inc., Egon Oldendorff Management GmbH, Golden Ocean Group Ltd, Mitsui O.S.K. Lines Ltd., Nippon Yusen Kabushiki Kaisha, Pacific Basin Shipping Limited., Star Bulk Carriers Corp, and Western Bulk. Backed with competitive intelligence and benchmarking, our research reports on the dry bulk shipping market are designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.

Vendor Offerings

Bulk Marine - The company offers transportation for both major and minor bulks including Iron Ore, Coal, Coking Coal, Petcoke and Mineral Concentrates (major bulks) and Alumina, Cement Clinker, Fertiliser, Grain, Gypsum, Limestone, Steel & Scrap and Sugar.
Dampskibsselskabet Norden A/S - The company offers dry operator which offers advanced risk management, market analytics, and a trading-oriented mindset to match cargos such as grain, wood pellets, and coal to an ever-changing fleet of Panamax, Supramax, and Handysize vessels.
Diana Shipping Inc. - The company offers a quality and experienced team for shipping transportation services in dry bulk shipping.

Dry Bulk Shipping Market 2022-2026: Key Highlights

CAGR of the market during the forecast period 2022-2026
Detailed information on factors that will assist dry bulk shipping market growth during the next five years
Estimation of the dry bulk shipping market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the dry bulk shipping market
Analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of dry bulk shipping market vendors

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Related Reports:
The shipping container market size should rise by 22.29 million TEU from 2021 to 2026 at a CAGR of 8.78%. The report extensively covers market segmentation by type (dry containers, reefer containers, tank containers, and special containers) and geography (APAC, North America, Europe, South America, and MEA). The growing global shipping container liners traffic is notably driving the market growth.

The tanker shipping market size is expected to increase by 164.10 million tons from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.59%. The report extensively covers tanker shipping market segmentation by tanker type (oil tankers and liquid gas tankers) and geography (APAC, Europe, MEA, North America, and South America). The growth in the global oil and gas logistics market is notably driving the tanker shipping market growth.

Dry Bulk Shipping Market Scope
Report Coverage	Details
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Decelerate at a CAGR of 3.59%
Market growth 2022-2026	USD 930.41 million
Market structure	Fragmented
YoY growth 2021-2022 (%)	3.97
Regional analysis	APAC, Europe, North America, South America, and MEA
Performing market contribution	APAC at 57%
Key countries	China, US, Germany, India, and Denmark
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	Bulk Marine, Dampskibsselskabet Norden A/S, Diana Shipping Inc., Egon Oldendorff Management GmbH, Golden Ocean Group Ltd, Mitsui O.S.K. Lines Ltd., Nippon Yusen Kabushiki Kaisha, Pacific Basin Shipping Limited., Star Bulk Carriers Corp, and Western Bulk
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Table Of Contents :

Executive Summary

Market Landscape

Market ecosystem
Value chain analysis

Market Sizing

Market definition
Market segment analysis
Market size 2021
Market outlook: Forecast for 2021 - 2026

Five Forces Analysis

Bargaining power of buyers
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
Market condition

Market Segmentation by Type

Market segments
Comparison by Type
Capesize - Market size and forecast 2021-2026
Panama - Market size and forecast 2021-2026
Supramax - Market size and forecast 2021-2026
Handysize - Market size and forecast 2021-2026
Market opportunity by Type

Customer landscape

Geographic Landscape

Geographic segmentation
Geographic comparison
APAC - Market size and forecast 2021-2026
Europe - Market size and forecast 2021-2026
North America - Market size and forecast 2021-2026
South America - Market size and forecast 2021-2026
MEA - Market size and forecast 2021-2026
Key leading countries
Market opportunity by geography
Market drivers
Market challenges
Market trends

Vendor Landscape

Vendor landscape
Landscape disruption

Vendor Analysis

Vendors covered
Market positioning of vendors
Bulk Marine
Dampskibsselskabet Norden A/S
Diana Shipping Inc.
Egon Oldendorff Management GmbH
Golden Ocean Group Ltd
Mitsui O.S.K. Lines Ltd.
Nippon Yusen Kabushiki Kaisha
Pacific Basin Shipping Limited.
Star Bulk Carriers Corp
Western Bulk

Appendix

Scope of the report
Currency conversion rates for US$
Research methodology
List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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