The global bulk terminals market is expected to grow from US$5.20 billion in 2016 to $7.41 billion by 2023 with a CAGR of 5.1%, according to a report by Stratistics MRC.
Bulk Terminals – Global Market Outlook (2017-2023) has seen demand increase due to industrial output, with the use of bulk commodities and affordability in emerging countries fuelling the growth.
The dry bulk segment has acquired the largest market share as developing countries' cleaner energy approach has restricted coal consumption.
China and North America have been forecasted large growth due to increasing demand in their grain bulk terminals.
However, the downfall of coal consumption and business reforms are factors that are hindering progress for the market as a whole.
