Liquid and Bulk Transportation Vessels Market Report 2024

This Liquid And Bulk Transportation Vessels market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The liquid and bulk transportation vessel market size has grown steadily in recent years. It will grow from $801.56 billion in 2023 to $831.65 billion in 2024 at a compound annual growth rate (CAGR) of 3.8%. The growth during the historic period can be attributed to several factors, the rise in demand for specialized vessels, increasing demand for raw materials, a heightened need for energy and resources, greater adoption of electronic logging devices, and the effects of rising population and urbanization.

The liquid and bulk transportation vessel market size is expected to see steady growth in the next few years. It will grow to $967.23 billion in 2028 at a compound annual growth rate (CAGR) of 3.8%. The anticipated growth in the forecast period can be attributed to several factors, rising demand for oil and gas production, the need for reliable and cost-effective transportation solutions, economic growth, increasing international trade, heightened economic activity, and growing demand for energy sources. Major trends expected to influence this period include the introduction of advanced vessel designs and propulsion systems, integration of IoT and automation to streamline logistics, adoption of autonomous technologies, rising demand for eco-friendly vessels, and a growing emphasis on green shipping practices.

The growth of international trade is expected to boost the liquid and bulk transportation vessels market in the future. International trade involves the exchange of products, services, and capital across national borders, including the importing and exporting of goods between countries. Several factors, such as trade agreements, economic growth, and exchange rate liberalization policies, are contributing to the rise in global trade. Liquid and bulk transportation vessels facilitate cost-effective global trade by transporting large volumes of cargo and incorporating specialized systems for handling hazardous materials. Their efficiency and safety features are crucial for maintaining a steady supply of essential goods, which supports economic growth and development. For example, in August 2024, the United States Census Bureau reported that exports in June 2024 increased to $265.9 billion, up by $3.9 billion from May, while imports rose to $339 billion, an increase of $2 billion from the previous month. Thus, the expanding international trade is driving the growth of the liquid and bulk transportation vessels market.

Leading companies in the liquid and bulk transportation vessel market are focused on developing advanced products, such as chemical transportation tankers, to improve safety, efficiency, and cargo handling capabilities. Chemical transportation tankers are specialized vessels designed to transport liquid chemicals using modern containment systems suitable for both hazardous and non-hazardous materials. These vessels ensure secure and compliant transportation across regions and are essential in the chemical industry. For instance, in March 2023, Mitsubishi Shipbuilding Co., Ltd., a Japan-based shipbuilding and marine engineering firm, introduced a liquefied carbon dioxide (LCO2) carrier. This new vessel, intended for carbon capture, use, and storage (CCUS), represents a major advancement in marine CO2 transportation. It is designed to transport liquefied CO2 at low temperatures and high pressures, making it suitable for long-distance voyages. The LCO2 carrier features a unique cargo tank system that meets international safety and technical standards.

In March 2024, MOL Chemical Tankers Pte. Ltd., a Singapore-based company specializing in the ocean transport of liquefied chemicals and oil, acquired Fairfield Chemical Carriers for $400 million. This acquisition aims to enhance MOL Chemical Tankers' operational capabilities and market presence by integrating Fairfield's fleet of 36 stainless steel chemical tankers with its own 81 vessels, creating one of the largest chemical tanker fleets globally. Following the acquisition, Fairfield will initially operate as a wholly-owned subsidiary, ensuring continuity of service for existing customers and seeking opportunities to improve service quality through potential synergies. Fairfield Chemical Carriers, a US-based manufacturer, specializes in liquid and bulk transportation vessels, including chemical tankers.

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.

Europe was the largest region in the liquid and bulk transportation vessels market in 2023. 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.

The countries covered in the liquid and bulk transportation vessels market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Liquid and bulk transportation vessels are large ships equipped with specialized storage tanks to transport liquids and bulk cargo across waterways. These vessels are engineered to handle specific types of cargo, including hazardous materials, while ensuring safe and efficient delivery.

The main types of liquid and bulk transportation vessels include liquid vessels, dry cargo vessels, and specialized vessels. Liquid vessels are specifically designed for transporting liquid cargo and are equipped with tanks and systems for safe storage, loading, and unloading. They come in various forms, such as deep-sea tankers, short-sea tankers, and inland tankers, and serve a range of applications, including the transportation of chemicals, natural gas, crude oil, and industrial products.

The liquid and bulk transportation vessels market research report is one of a series of new reports that provides liquid and bulk transportation vessels market statistics, including the liquid and bulk transportation vessels industry global market size, regional shares, competitors with the liquid and bulk transportation vessels market share, detailed liquid and bulk transportation vessels market segments, market trends, and opportunities, and any further data you may need to thrive in the liquid and bulk transportation vessels industry. These liquid and bulk transportation vessels market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The liquid and bulk transportation vessels market consists of sales of tanker barges, bulk carriers, reefer ships, chemical tankers, and flexible tank containers. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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