Bulk Terminals Market 2022 | Current and Future Demand, Analysis, Growth and Forecast By 2030
Despite recent declines in global seaborne trade due to the COVID-19 pandemic, global minor bulk trade has expanded significantly. Future Market Insights (FMI) analysts estimate that global minor bulk traded has increased to 1.74 billion tonnes. Bulk terminals play an important role in industrial infrastructure by ensuring the safe and efficient movement of critical resources.
Steel and forest products make up 43% of minor bulk trade,
according to the FMI report. In addition, metals and minerals make up about 37%
of minor bulk trade, with agricultural products coming in second at 20%.
Operators and owners must boost the productivity and
adaptability of their expensive bulk assets if they want to compete in markets
with fierce competition and steady demand for raw materials. Advanced supply
chains prioritise manufacturing method automation and long-term digital
ecosystem penetration. The agricultural yield is concentrated primarily in
nations like the United States, Argentina, Brazil, China, and India, which
account for more than 34% of grain export and import as minor bulk commodities.
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Bulk Terminals Market Size Study
- Sales
of bulk terminals to remain stable over forecast period, 2020-2030
- Dry
bulk continues to generate greater total returns to shareholders (TRS)
- Nearly
190 terminals were under expansion worldwide in June 2019, with additional
49 under construction
- Markets
in Europe and North America to generate relevant value through 2030
“Majority of global trades are performed through
coastal routes, as such, proper functioning of maritime transport is
quintessential in overall progress of countries participating in global trade.
Port operation accents for heavy investments in manpower and equipment.
Consequently, various countries are embracing Public-Private Partnership (PPP),
wherein operations and management duties are outsourced to private firms, while
respective governments own certain land and assets,” says analyst at FMI.
COVID-19 Impact on Bulk Terminals Market
Due to strict lockdown measures, the COVID-19 pandemic is
causing massive supply chain disruptions in the bulk terminals market,
particularly in Asian supplier regions. Such stringent measures have resulted
in a labour shortage – truck drivers and labourers – at port terminals.
Furthermore, the market is suffering from a lack of
transportation facilities such as. According to studies, the number of trucks
and containers dropped by about half due to a decrease in the number of trailers
and a lack of drivers. This has slowed transshipment operations at terminals
even more.
Because of growing concerns about worker safety, several
end-use industrial operators have temporarily halted manufacturing processes,
reducing demand for bulk terminals. Upgrading automation capabilities will be
critical for staying afloat during the COVID-19 crisis.
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Bulk Terminals Market – Competitive Intelligence
Leading players in global bulk terminals market are focused
on inorganic growth strategies such as mergers and acquisitions (M&A) as
well as contracts in order to boost theor market presence. Case in point,
- Ultramar
Group has entered into transshipment collaboration with Acron Group to
transship over 1.2 million tons per year (tpy) of mineral fertilizers.
- Noatum
Maritime has taken over multi-purpose bulk terminal business from Noatum
Ports.
- Teck
Resources and Westshore Terminals have entered into an agreement for new
throughput contract for export of metallurgical coal beginning in April
2021. The contract will witness 5-7 million mt of metallurgical coal
exported from April through December 2021.
To Know More About Bulk Terminals Market:
A new market research report published by Future Market
Insights (FMI) on the global bulk terminals market report offers comprehensive
insights into the market demand trends and analysis of opportunities over the
forecast period, 2020-2030. The report examines the bulk terminals market
through two different segments – bulk type, and region. The bulk terminals
market report also provides extensive assessment of pricing by different key
market dynamics, life cycle analysis, and technologies that are being deployed
in the manufacturing of barcode printers and product adoption across several
end-use industries.
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