The Global Bulk Terminals Market was valued at US$ 17411.5 Million in 2021 and is expected to surpass US$ 23271.4 Million by 2030, registering a CAGR of 3.5% during the forecast period (2022-2030), according to the Global Bulk Terminals Market, By Bulk Type (Dry Bulk (Grain, Coal, Iron ore and Others) and Liquid Bulk (Oil and Gas)), and by Region (North America, Latin America, Europe, APAC and Middle East & Africa), published by Coherent Market Insights.
Dry bulk is a commodity, which is shipped in large amounts and unpackaged situation by a bulk carrier. Generally, these dry bulk commodities are classified as major dry bulk and Minor dry bulk, major dry bulk comprises Grains, Coal And Iron Ore, Minor bulk includes Minerals, fertilizer, cement, woods, sugar, Bauxite/Alumina, etc. There are many transport companies which are specialized in dry bulk delivery. Dry bulk commodity is highly regulated in transport, the effect of an accident can cause badly to the environment. Iron ore is found in nature in the form of rocks, usually mixed with other elements, all forms of iron ore undergoes the various industrial processes. Steel industry is one the largest consumer of iron ore in the world. Iron ore is major bulk commodity with the largest volume trade in seaborne trade, over coal and grain. It comprises almost. Iron ore is the main bulk in a dry bulk commodity which contributes more than 30% in world seaborne trade of dry bulk.
Despite current slowdown in the global seaborne trade, the minor bulk trade expanded significantly. According to Coherent Market Insights’ analysis, global minor bulk traded expanded up to 1.74 billion tons. According to the same source, the manufacturing of steel and forest products accounted for 43% of minor bulk trade. Moreover, metals and minerals accounted for 37% followed by agricultural products, which is 20% of the minor bulk trade. Rising population, increasing urbanization combined with construction, and manufacturing activities are expected to boost the demand for minor bulk commodities in the near future. Thus, these factors are expected to boost the global bulk terminals market growth over the forecast period.
Key Developments
- Key companies are focused on product development, in order to enhance their product portfolio. For instance, in February 2020, Xiaomi, a designer and manufacturer of consumer electronics introduced two power bank variants with 10,000 mAh and 20,000mAh.
Global Bulk Terminals Market - Impact of Coronavirus (Covid-19) Pandemic:
Many governments around the world, including those in India, Spain, and Italy, have enacted a nationwide lockdown to stop the COVID-19 sickness from spreading. India, for instance, enforced a lockdown from March 25 through May 1 until further notice. But the lockdown caused a labour shortage at the ports. And then the ports started having trouble moving the cargoes because of a personnel shortage. Additionally, there aren't enough trucks or trains or other forms of transportation so it hindered their supply chain and logistic. Hence, the global bulk terminals market witnessed slow growth during the pandemic.
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Key Trends and Analysis of the Global Bulk Terminals Market:
- Countries such as Jordan, Pakistan, and Egypt commenced the import of LNG in 2015. These countries have set up floating LNG receiving terminals in order to avoid costs associated with setting up traditional onshore terminals. Thus, the adoption of floating LNG terminals is expected to increase, especially in countries with relatively lower import volumes.
- Decent storage of various types of bulks according to its grade, quality, customer, and time of delivery along with appropriate safety is a major concern associated with management of bulk terminals. In order to deal with all these issues and reduce the operations time and cost, several bulk terminal operators are adopting automation in their facilities. Various companies like DBIS (TAREX corp.), Central Systems & Automation Ltd., Solvo Ltd., CyberLogitec, Netherlands-based TBA, and many other electromechanical companies offer integrated hardware and software solutions for bulk terminal automation. The bulk terminal automation solution includes the intelligent integration of software and mechanical devices, which works on feedback and command system in order to perform the given task. Also, proper inventory management, record keeping, automatic scheduling, and safety features are some other major aspects of terminal automation system.
- Major players operating in the global Bulk Terminals market include Thessaloniki Port Authority SA., Ultramar Group, Global Ports Investments PLC, Noatum Ports, S.L.U., Ports America, Inc., DP World Ltd., China Merchants Port Holdings Co. Ltd, Yilport Holding Inc., APM Terminals, HES International B.V., DaLian Port (PDA) Company Limited, Puerto Ventanas S.A., and Euroports Holdings S.à r.l.
