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Liquid And Bulk Transportation Vessels Market Expected to Achieve 3.7% CAGR by 2029: Growth Forecast Insights
Liquid And Bulk Transportation Vessels Market
How Large Will the Liquid And Bulk Transportation Vessels Market Size By 2025?
The market size of liquid and bulk transportation vessels has seen consistent growth in recent years. The market, which was valued at $831.65 billion in 2024, is projected to increase to $865.31 billion in 2025, with a compound annual growth rate (CAGR) of 4.0%. The historic growth can be linked to factors such as an increased demand for specialized vessels, a spurt in the demand for raw materials, a rising need for energy and resources, the growing use of electronic logging devices, and the surge in population and urbanization.
How Big Is the Liquid And Bulk Transportation Vessels Market Size Expected to Grow by 2029?
Forecast predictions indicate steady expansion in the liquid and bulk transportation vessels market in the near-term. With an estimated compound annual growth rate (CAGR) of 3.7%, it is expected to increase to a value of $1002.41 billion by 2029. Factors contributing to the projected growth include increased oil and gas production requirements, reliable and economical transportation methods, boosted economic growth, a rise in international trade, enhanced economic activities, and a surge in demand for energy resources. Advanced vessel designs and propulsion systems are projected to be major trends during the forecast, coupled with the incorporation of the Internet of Things (IoT) and automation to improve logistics. Other trends likely to shape the market include the usage of independent technologies, rising demand for environmentally friendly vessels, and a growing focus on green shipping.
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Which Key Market Drivers Powering Liquid And Bulk Transportation Vessels Market Expansion and Growth?
The surge in international trade is anticipated to fuel the expansion of the liquid and bulk transportation vessels market in the future. The trade of goods, services, and capital beyond national boundaries, known as international trade, encompasses the import and export activities between nations. Several factors including trade agreements, economic development, and policies advocating exchange rate liberalization, are causing a rise in global commerce. Liquid and bulk transportation vessels facilitate economical worldwide trade by accommodating extensive cargo volumes and incorporating specific systems for handling hazardous goods. They are known for their efficiency and safety measures, facilitating a steady supply of essential goods pivotal for economic growth and progress. As an illustration, the United States Census Bureau, a US government agency, reported in August 2024, that the country's exports for June escalated to $265.9 billion, seeing an increment of $3.9 billion from May, while imports for June surged to $339.0 billion, rising by $2.0 billion from the prior month. Hence, the escalating international trade is spurring the growth of the liquid and bulk transportation vessels market.
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Which Fast-Growing Trends Are Poised to Disrupt the Liquid And Bulk Transportation Vessels Market?
Leading firms in the liquid and bulk transportation vessel industry are concentrating their efforts on the creation of superior products like chemical transportation tankers, aimed at improving safety, efficiency, and capabilities in cargo handling. Chemical transportation tankers are dedicated vessels equipped with current containment systems for the transportation of both hazardous and non-hazardous liquid chemicals thereby, ensuring safe and compliant inter-regional transport and playing a key role in the chemical sector. For illustration, in March 2023, Mitsubishi Shipbuilding Co., Ltd, a company based in Japan specializing in shipbuilding and marine engineering launched a carrier for liquefied carbon dioxide (LCO2). This groundbreaking vessel is designed for carbon capture, utilization, and storage (CCUS), marking a notable milestone in marine CO2 transportation. It facilitates the transportation of liquefied CO2 under low temperatures and high pressure, positioning it as the perfect choice for long-haul transportation. The LCO2 carrier has a distinctive cargo tank system, designed to comply with international safety and technical standards.
What Are the Emerging Segments in 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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Who Are the Global Leaders in the Liquid And Bulk Transportation Vessels Market?
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
Which are the Top Profitable Regional Markets for the Liquid And Bulk Transportation Vessels Industry?
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.
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