The bulk liquid market has demonstrated robust growth, increasing from $60.58 billion in 2023 to $65.3 billion in 2024, with a notable compound annual growth rate (CAGR) of 7.8%. This growth during the historical period is attributed to shifts in energy consumption patterns, regulatory changes, the emergence of the petrochemical industry, global trade expansion, and the impact of the industrial revolution. Moving forward to 2028, the market is projected to continue its strong growth, reaching $86.59 billion at a CAGR of 7.3%. The anticipated growth is linked to global economic expansion, shifts in energy demands, environmental regulations, supply chain optimization, and market volatility. Key trends expected during this period include shifts in consumer behavior, market volatility impacts, emphasis on risk management and security, infrastructure developments, and a heightened demand for specialized services.
Major Driver In The Bulk Liquid Market
Increasing production and consumption of chemicals drives the demand for the bulk liquid market. According to the American Chemical Council, tonnes of products are supplied to the chemical industry through rail, truck, waterborne modes, and pipelines. According to the Eurostat statistics, 86.4 million tons of environmentally harmful chemicals were consumed in 2021, an enormous 7% rise from the year before. Therefore, high production and consumption of chemicals and related products are projected to generate high demand for bulk liquid truck transportation and subsequently fuel the growth of the bulk liquid market. The market size for bulk liquid transportation is anticipated to reflect the increasing production and consumption of chemicals, with substantial growth expected in 2023, 2024, and beyond.
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Bulk Liquid Market Competitive Landscape
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
Bulk Liquid Market Segmentation
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
By Geography:The regions covered in the bulk liquid market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
Asia-Pacific was the largest region in the bulk liquids market in 2023.
The Bulk Liquid Global Market Report 2024 furnishes information about the global bulk liquid market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
