Bulk Liquid Market Report Global Market To Reach Value Of Almost $61 Billion In 2025
7 Sep, 2021
The bulk liquids trucking market consists of sales of bulk liquids trucking services and related goods by entities (organizations, sole traders, and partnerships) that provide over-the-road transportation of bulk liquids. Only goods and services traded between entities or sold to end consumers are included.
Global Bulk Liquid Market Report Market Size:
The global bulk liquids market is expected to grow from $43.86 billion in 2020 to $47.13 billion in 2021 at a compound annual growth rate (CAGR) of 7.5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $60.82 billion in 2025 at a CAGR of 6.6%.
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Trends In The Global Bulk Liquid Market Report Market
Electronic Logging Devices (ELD) is increasingly being adopted by the trucking industry to regulate the working hours of the truck drivers. An electronic logging device is a technology used by drivers of commercial motor vehicles (CMVs) to automatically record driving time and Hours of service (HOS) records, capture data on the vehicle’s engine, movement, and miles driven. Increased digitization and the use of telematics technology are also boosting growth in the market. The USA is among the early adopter of this technology and has mandated ELD for all commercial vehicles. As of December 2019, all vehicles are expected to be using ELDs to track hours of service in the USA. In June 2019, Canada has also announced mandating of ELD which will come into action in 2021.
Global Bulk Liquid Market Report Market Segments:
The global bulk liquid market report market is further segmented –
By Liquid Type: Edible Liquids, Non-Edible Liquids
By End Use: Chemical, Dairy, Beverages, Others
By Properties: Flammable, Non-Flammable
By Geography: The global bulk liquid market report market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among countries, the Canada bulk liquid market accounts for the largest share in the global bulk liquid market.
Read More On The Report For The Global Bulk Liquid Market Report Market At:https://www.thebusinessresearchcompany.com/report/bulk-liquid-global-market-report
Bulk Liquid Market Report Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides bulk liquid market report market overviews, analyzes and forecasts market size and growth for the global bulk liquid market report market, bulk liquid market report market share, bulk liquid market report market players, bulk liquid market report market segments and geographies, bulk liquid market report market’s leading competitors’ revenues, profiles and market shares. The bulk liquid market report market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.