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Key Influencer in the Liquid And Bulk Transportation Vessels Market 2025: Increasing International Trade Drives Growth In The Liquid And Bulk Transportation Vessels Market Driver
Liquid And Bulk Transportation Vessels Market Overview
Recent years have seen a consistent growth in the size of the liquid and bulk transportation vessels market. Anticipated to increase from $831.65 $ billion in 2024 to $865.31 $ billion in 2025, the market will achieve a compound annual growth rate (CAGR) of 4.0%. This escalation during the historical period is a result of several factors including an increased demand for specialized vessels, a surge in the need for raw materials, a rising necessity for energy and resources, the growing use of electronic logging devices, and an increase in population and urbanization.
The market for liquid and bulk transportation vessels is predicted to experience consistent growth over the coming years. It is estimated to reach a value of $1002.41 billion by 2029, with a compound annual growth rate (CAGR) of 3.7%. This growth during the forecast period is attributed to the growing demand for oil and gas production, cost-effective and reliable transportation methods, increased economic growth and international trade, heightened economic activity, and the need for energy sources. Key future trends include the introduction of advanced vessel designs and propulsion systems, the integration of the Internet of Things (IoT) and automation to streamline logistics, the adoption of autonomous technologies, growing demand for environmentally-friendly vessels, and an increased focus on green shipping.
What Factors Are Propelling the Expansion of the Liquid And Bulk Transportation Vessels Market?
The growth of the liquid and bulk transportation vessels market is projected to be driven by the surge in international trade. The international exchange of goods, services, and capital is known as international trade, which comprises the import and export of goods among nations. Factors such as trade accords, economic expansion, and liberal exchange rate policies are causing a rise in global trade. Liquid and bulk transportation vessels support cost-efficient global trade by transporting large volumes of cargo and accommodating special systems for dangerous goods. The efficiency and safety features of these vessels provide a steady flow of essential goods crucial for economic growth. In August 2024, data from the US Census Bureau, an American governmental institution, revealed that exports rose to $265.9 billion in June, a $3.9 billion increase from May, while imports increased to $339.0 billion, a rise of $2.0 billion from the preceding month. Consequently, the upsurge in international trade is propelling the market for liquid and bulk transportation vessels.
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Which Businesses Are at the Forefront of Liquid And Bulk Transportation Vessels Market Development?
Major companies operating in the liquid and bulk transportation vessels market are CMA CGM Group, Hapag-Lloyd AG, Kawasaki Heavy Industries Ltd., Seaboard Marine, Mitsui O.S.K. Lines, Maersk Tankers A/S, Pacific Basin Limited, Stolt-Nielsen, Seatrium Limited, Scorpio Tankers Inc., Star Bulk Carriers, Teekay Corporation, IINO KAIUN KAISHA LTD., Safe Bulkers, Nordic American Tankers, Odfjell SE, Höegh Autoliners, MOL Chemical Tankers, Zodiac Maritime, Seaspan ULC, Wilhelmsen Ship Management, Ace Tankers
What Are the Latest Innovations in the Liquid And Bulk Transportation Vessels Market?
Top firms in the market for liquid and bulk transportation vessels are concentrating on innovating superior products like chemical transportation tankers to improve safety, functionality, and cargo handling capacity. These specialized ships safely transport both hazardous and non-hazardous liquid chemicals using state-of-the-art containment systems, making them crucial in the chemical industry. For example, in March 2023, Mitsubishi Shipbuilding Co., Ltd., a Japanese shipbuilding and marine engineering firm, unveiled a carrier for liquefied carbon dioxide (LCO2). This novel vessel, aimed at carbon capture, use, and storage (CCUS), marks a significant progress in marine CO2 transport. It is designed to transport LCO2 under high pressure and low temperature conditions, making it suitable for long-haul transportation. The LCO2 carrier features a distinctive cargo tank system that complies with global safety and technical standards.
How Is the Liquid And Bulk Transportation Vessels Market Segmented?
The liquid and bulk transportation vesselsmarket covered in this report is segmented -
1) By Vessel Type: Liquid Vessel, Dry Cargo Vessel, Specialized Vessel
2) By Transport Type: Deep Sea Tankers, Short Sea Tankers, Inland Tankers
3) By Application: Chemical, Natural Gas And Crude Oil, Industrial, Other Applications
Subsegments:
1) By Liquid Vessel: Chemical Tankers, Oil Tankers, Product Tankers, Liquefied Natural Gas (LNG) Carriers, Liquefied Petroleum Gas (LPG) Carriers
2) By Dry Cargo Vessel: Bulk Carriers, General Cargo Ships, Container Ships, Reefer Ships (Refrigerated Cargo), Roll-On/Roll-Off (RoRo) Ships
3) By Specialized Vessel: Research Vessels, Heavy Lift Vessels, Dredgers, Offshore Supply Vessels, Multi-Purpose Vessels.
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Where Is the Liquid And Bulk Transportation Vessels Market Growth Most Prominent?
Europe was the largest region in the liquid and bulk transportation vessels market in 2024. The regions covered in the liquid and bulk transportation vessels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Liquid And Bulk Transportation Vessels Global Market Report?
- Market Size Analysis: Analyze the Liquid And Bulk Transportation Vessels Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Liquid And Bulk Transportation Vessels Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Liquid And Bulk Transportation Vessels Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Liquid And Bulk Transportation Vessels Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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