Press release
Bulk Liquid Market Size Forecast: $83.81 Billion by 2029 | Global Outlook
Bulk Liquid Market
What Is the Projected Market Size Valuation of the Bulk Liquid Market by 2025?
The size of the bulk liquid market has seen robust growth over the recent years. This expansion trend indicates a projection from $60.23 billion in 2024 to a promising $64.26 billion in 2025, at a compound annual growth rate (CAGR) of 6.7%. The growth during this historical period can be accredited to a variety of factors including the changes in energy consumption patterns, alterations in regulations, the rise of the petrochemical industry, growth in global trade, and the influence of the industrial revolution.
What Is the Estimated Market Growth Value for the Bulk Liquid Industry in 2029?
The market size for bulk liquid is projected to witness substantial growth in the coming years, reaching a value of $83.81 billion in 2029, with a compound annual growth rate (CAGR) of 6.9%. Factors contributing to this growth during the forecast period include worldwide economic development, changes in energy requirements, environmental regulations, enhancements in supply chain management, and the effects of market volatility. Notable trends during the forecast include changes in consumer habits, the influence of market volatility, risk management and security, infrastructure progress, and the increased need for specialized services.
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What Are the Growth Drivers and Opportunities in the Bulk Liquid Market?
The growth in the bulk liquid market is primarily driven by the increase in chemicals' production and usage. As reported by the American Chemical Council, the chemical industry receives tonnes of products via pipelines, rail, truck and waterborne modes. For example, a report from BASF SE, a chemical firm based in Germany, predicted in February 2023 that global chemical production (excluding pharmaceuticals) will rise by 2.0% in 2023. In the largest chemical market globally, China, chemical production is projected to grow by 5.9%. Hence, high chemical production and consumption and associated products are expected to trigger a substantial demand for bulk liquid truck transportation, bolstering the bulk liquid market's growth.
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What Are the Primary Segments Covered in the Global Bulk Liquid Market Report?
The bulk liquid market covered in this report is segmented -
1) By Liquid Type: Edible liquids, Non-Edible liquids
2) By Properties: Flammable, Non-Flammable
3) By End Use: Chemical, Dairy, Beverages, Other End Users
Subsegments:
1) By Edible Liquids: Cooking Oils, Sauces And Condiments, Juices And Beverages, Dairy Products
2) By Non-Edible Liquids: Industrial Chemicals, Fuels, Cleaning And Hygiene Products, Agricultural Chemicals
What Are the Top Growth Trends in the Bulk Liquid Market?
The trucking industry is progressively embracing Electronic Logging Devices (ELD) to monitor the working hours of truck operators. ELDs, which are employed by commercial motor vehicle (CMV) drivers, automate the documentation of driving duration and hours of service (HOS) records, tracking data on the engine, movement, and mileage of the vehicle. The industry's growth is being catalyzed by heightened digitization and the use of telematics technology. The USA, an early adopter of this technology, has made ELD compulsory for all commercial vehicles. As reported by Geotab Inc., a Canadian telematics solutions corporation, as of July 2022, Canada has also mandated the use of ELD for all commercial motor vehicle drivers to record driver and vehicle operations.
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Which Companies Are Shaping the Future of the Bulk Liquid Market?
Major companies operating in the bulk liquid market include Florida Rock & Tank Lines, Prime Inc., Martin Transport Inc., Quality Distribution Inc., Kenan Advantage Group Inc., Apex Logistics, Tidewater Transit Co., Dupre'Logistics LLC, Eagle Transport Corp., Ruan Transportation Management Systems Inc., HeniffTransportationSystemsLLC, GroendykeTransport, Foodliner, A&RLogistics, J&M TankLines Inc., Grammer LogisticsInc., Cliff Viessman Inc., Coastal Transport Co., HermanR.Ewell Inc., CLI Transport LP, Superior Bulk Inc., Tankstar Inc., Trimac Transportation, Andrews Logistics, CCC Transportation LLC, ATOStransportes auto tanques ochoa - ATOSA, Solar Transport, Service Transport Co., Schilli Corp., Liquid Trucking
Which Region Holds the Largest Market Share in the Bulk Liquid Industry?
Asia-Pacific was the largest region in the bulk liquids market in 2024. North America was the second largest region in the global bulk liquids market share. The regions covered in the bulk liquid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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