Bulk Terminals Market is Estimated to Witness High Growth Owing to Increasing Demand for Efficient Transportation of Resources.
The bulk terminals market involves the transfer of bulk resources such as coal, fertilizers, lumber, grains and iron ore from one mode of transportation to another. Bulk terminals are large port facilities that enable transfer of resources from sea vessels or barges to rail cars, trucks or pipelines in an efficient manner. The growing demand for coal, iron ore and grains has led to higher trade volumes, thereby driving the need for efficient bulk terminals. Bulk terminals allow seamless transfer of resources from one mode of transportation to another through specialized loading and unloading infrastructure like conveyor belts, cranes and silos. They help minimize transportation costs and improve overall supply chain efficiency.
The Global Bulk Terminals Market was valued for US$ 17411.5 Mn in 2021 is expected to exhibit a CAGR of 3.5% % during the forecast period.
Key Takeaways
Key players operating in the bulk terminals market are AP Moller - Maersk, DP World, Global Ports Investments PLC and Shanghai International Port Group Co., Ltd.
Growth opportunities in the Bulk Terminals Market Demand include expansion into emerging economies with rising trade volumes and investments towards modernizing aging infrastructure at existing ports.
Technological advancements such as automated guided vehicles, real-time cargo tracking solutions and smart logistics platforms will help drive operational efficiencies and optimize resource utilization at bulk terminals.
Market Drivers
Rising global seaborne trade: Majority of world trade is carried out through sea routes. Growth in international trade volumes especially for bulk commodities will drive demand for high capacity bulk terminals.
Investments in port infrastructure development: Several countries are investing heavily in expanding and modernizing port infrastructure to catalyze economic growth. This will create opportunities for new bulk terminal facilities.
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