Dry Bulk Shipping Market Eyeing Growth at an 5.10% CAGR by 2027
The global dry bulk shipping market size is set to expand at a CAGR of 5.10% CAGR over the forecast period (2020-2027), according to Market Research Future (MRFR).
The market is driven by naval trade and increasing exports of commodities. Rise in iron ore and coal demand coupled with need for foodgrains are driving the market growth. Coal and iron are prime raw materials required in energy and steel production. According to the International Chamber of Shipping, shipping is accountable for 90% of world trade.