Press release
Bulk Liquid Market Size Forecasted To Achieve $92.26 Billion By 2029 With Steady Growth
Bulk Liquid
What Is the Expected Bulk Liquid Market Size During the Forecast Period?
Over the past few years, the market size of bulk liquid has seen striking growth. It is expected to expand from $66.37 billion in 2024 to $71.54 billion in 2025, showing a compound annual growth rate (CAGR) of 7.8%. Several factors have contributed to the growth during the previous period, including changes in energy usage norms, regulatory modifications, the emergence of the petrochemical industry, worldwide trade enlargement, and the effects of the industrial revolution.
The size of the bulk liquid market is anticipated to witness robust expansion in the coming years, reaching a valuation of $92.26 billion in 2029 with a compound annual growth rate (CAGR) of 6.6%. The projected expansion during this period can be associated with a variety of factors such as global economic development, shifts in energy needs, environment regulations, enhancements in supply chain management, and the impact of market volatility. Key trends that will shape this period include changes in consumer behavior, the effect of market volatility, the importance of risk management & security, developments in infrastructure, and the rising demand for specialized services.
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What Are the High-Growth Segments in the Bulk Liquid Market?
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
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What Key Drivers Are Expected to Influence Future Bulk Liquid Market Growth?
The bulk liquid market is being propelled by the rising production and consumption of chemicals. The American Chemical Council reports indicate that a significant quantity of products is channeled to the chemical industry through various modes such as rail, truck, waterborne, and pipelines. A report from BASF SE, a German chemicals firm, released in February 2023, forecasts a global chemical production growth (excluding pharmaceuticals) of 2.0% in 2023. Notably, in China, which is the global leader in the chemical market, a growth of 5.9% is predicted in chemical production. Consequently, this upsurge in production and utilization of chemicals and related products is likely to amplify the demand for bulk liquid truck transportation, thereby stimulating the expansion of the bulk liquid market.
Which Companies Hold the Largest Share Across Different Bulk Liquid Market Segments?
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
What Trends Are Driving Growth in The Bulk Liquid Market?
The trucking industry is increasingly implementing electronic logging devices (ELD) to monitor the working hours of truck drivers. This technology, used by commercial motor vehicle (CMV) operators, automatically tracks driving hours and service records, logging details about the vehicle's engine, movement, and miles travelled. The trend towards further digitization and the employment of telematics technology are propelling market growth. The USA was a pioneer in adopting this technology and has made ELD mandatory for all commercial vehicles. For example, as per Geotab Inc., a Canadian telematics solutions provider, Canada enforced the use of ELD for all its commercial motor vehicle drivers to document driver and vehicle movement in July 2022.
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What Are the Emerging Geographies for The Bulk Liquid Market Growth?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Bulk Liquid Market?
2. What is the CAGR expected in the Bulk Liquid Market?
3. What Are the Key Innovations Transforming the Bulk Liquid Industry?
4. Which Region Is Leading the Bulk Liquid Market?
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