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Strong Growth Ahead: Liquid And Bulk Transportation Vessels Market Size To Grow At Arecord 3.7% Cagr By 2029
Liquid And Bulk Transportation Vessels Market
How Big Is the Liquid And Bulk Transportation Vessels Market Size Expected to Be by 2034?
The liquid and bulk transportation vessels market size has grown steadily in recent years. It will grow from $831.65 billion in 2024 to $865.31 billion in 2025 at a CAGR of 4.0%. The growth is attributed to rising demand for specialized vessels, increased need for raw materials, growing energy and resource demand, adoption of electronic logging devices, and rising population and urbanization.
The liquid and bulk transportation vessels market is expected to grow to $1,002.41 billion in 2029, with a CAGR of 3.7%. Growth factors include the rising demand for oil and gas production, economic growth, and the increasing need for cost-effective transportation solutions. Trends include advanced vessel designs, IoT and automation integration, eco-friendly vessels, and green shipping emphasis.
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What Are the Emerging Segments Within the Liquid And Bulk Transportation Vessels Market?
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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What Long-Term Drivers Are Shaping Liquid And Bulk Transportation Vessels Market Trends?
The growth in international trade is expected to boost the liquid and bulk transportation vessels market. International trade involves the exchange of goods and services across borders, with factors such as trade agreements, economic growth, and exchange rate liberalization contributing to its rise. Liquid and bulk transportation vessels are essential for global trade, offering cost-effective solutions to transport large cargo volumes while ensuring safety and efficiency, especially for hazardous goods. For instance, in August 2024, the United States Census Bureau reported that June exports increased by $3.9 billion compared to May, indicating the upward trend in international trade. Therefore, rising trade is driving the growth of the liquid and bulk transportation vessels market.
Who Are the Top Competitors in Key Liquid And Bulk Transportation Vessels Market Segments?
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 Trends Are Driving Growth in The Liquid And Bulk Transportation Vessels Market?
Companies in the liquid and bulk transportation vessel market are developing advanced products like chemical transportation tankers to improve safety, efficiency, and cargo handling capabilities. These vessels transport liquid chemicals using modern containment systems. For instance, in March 2023, Mitsubishi Shipbuilding Co., Ltd., a Japan-based shipbuilding company, launched a liquefied carbon dioxide (LCO2) carrier designed for carbon capture, use, and storage (CCUS). The carrier is designed for long-distance transportation of liquefied CO2, featuring a unique cargo tank system that complies with international safety standards.
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Which Regions Are Becoming Hubs for Liquid And Bulk Transportation Vessels Market Innovation?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Liquid And Bulk Transportation Vessels Market?
2. What is the CAGR expected in the Liquid And Bulk Transportation Vessels Market?
3. What Are the Key Innovations Transforming the Liquid And Bulk Transportation Vessels Industry?
4. Which Region Is Leading the Liquid And Bulk Transportation Vessels Market?
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