Global Dry Bulk Shipping Market Share
The dry bulk shipping market was valued at US$ 300.23 million globally in 2020 and is projected to grow at a compound annual growth rate (CAGR) of 4.8% to reach US$ 476.53 million by 2030. The dry bulk shipping industry is divided into five regions: North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. North America leads in the worldwide dry bulk shipping market, followed by Europe. Due to the expansion of shipping and marine trade in the area, China is anticipated to be the primary target market over the projection period. Furthermore, there has been a surge in the importation of iron ore into China, contributing to the growth of the target market in the area. On the other hand, due to the better increase in small bulk trades, Europe is expected to be the second most crucial target market throughout the predicted period.