Dry Bulk Materials Global Market To Reach Value Of $389 Billion In 2025
28 Sep, 2021
The dry bulk materials trucking market consists of sales of dry bulk materials trucking services by entities (organizations, sole traders, and partnerships) that provide over-the-road transportation of dry bulk materials. Only goods and services traded between entities or sold to end consumers are included.
Global Dry Bulk Materials Market Size And Drivers:
The global dry bulk materials market is expected to grow from $284.86 billion in 2020 to $306.53 billion in 2021 at a compound annual growth rate (CAGR) of 7.6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $389.46 billion in 2025 at a CAGR of 6.2%. Rising demand for raw material for the manufacturing, defense, and infrastructure sectors is driving the growth of the dry bulk material trucking market.
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Trends In The Global Dry Bulk Materials Market
The dry bulk material trucking market is increasingly using technology for higher output and efficiency which is gaining significant popularity in the dry bulk materials trucking market. The use of technology includes artificial intelligence, automation, the use of apps, and others. For instance, in April 2020, Roger, a technology company for trucks has developed an app that will provide real-time information about the status and location of all their current loads boosting the efficiency of the businesses. The technology reduces information generation time, digitizes paperwork, tickets, and back-and-forth communication. The app will have features such as paperless tickets, fast digital payment processing, integrations with major industry ERPs, and a digital freight marketplace.
Global Dry Bulk Materials Market Segments:
The global dry bulk materials market is further segmented –
By Commodity Type: Iron Ore, Coal And Pet Coke, Grains And Agricultural Products, Cement/ Aggregates, Fertilizers, Others
By Application: Food And Beverages, Construction, Automotive, Energy And Mining, Agriculture, Chemicals, Others
By Vessel Type: Capesize, Handysize, Pananmax, Handymax
By End Use: Iron Ore, Steel Products, Lumber or Log, Others
By Geography: The global dry bulk materials market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Read More On The Report For The Global Dry Bulk Materials Market At:
https://www.thebusinessresearchcompany.com/report/dry-bulk-materials-global-market-reportDry Bulk Materials Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides dry bulk materials market overviews, analyzes and forecasts market size and growth for the global dry bulk materials market, dry bulk materials market share, dry bulk materials market players, dry bulk materials market segments and geographies, dry bulk materials market’s leading competitors’ revenues, profiles and market shares. The dry bulk materials market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.