Key Liquid And Bulk Transportation Vessels Market Trend 2024-2033: Advancements In Chemical Transportation Tankers

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The liquid and bulk transportation vessels market size has seen a steady growth in recent years. The growth from $801.56 billion in 2023 to an estimated $831.65 billion in 2024 at a compound annual growth rate CAGR of 3.8% can be attributed to the rise in demand for specialized vessels, increasing demand for raw materials, and the increased need for energy and resources, among other contributing factors.

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Why Is The Liquid And Bulk Transportation Vessels Market Growing?

The strong growth of the international trade significantly propels the growth of the liquid and bulk transportation vessels market. International trade, the exchange of products, services, and capital across borders, is rapidly increasing due to factors such as economic growth, trade agreements, and exchange rate liberalization policies. Liquid and bulk transportation vessels offer a cost-effective method for global trade by carrying immense cargo volumes and integrating specialized systems for hazardous goods. Their efficiency and safety features ensure a constant supply of vital goods, crucial for economic growth and development. For instance, in August 2024, the United States Census Bureau reported that June exports rose to $265.9 billion, an increase of $3.9 billion compared to May, while June imports grew to $339.0 billion, up by $2.0 billion from the previous month. This increasing international trade consequently drives the liquid and bulk transportation vessels market.

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Who Are The Major Players In The Liquid And Bulk Transportation Vessels Market?

Major companies operating in the liquid and bulk transportation vessels market include 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, and Ace Tankers. These key industry players have been crucial in shaping the market.

What Are The Key Trends In The Liquid And Bulk Transportation Vessels Market?

Major companies in the market have focused on developing advanced products like chemical transportation tankers. These specialized vessels transport liquid chemicals using modern containment systems for both hazardous and non-hazardous materials. They provide secure, compliant transportation across regions and play an important role in the chemical sector. For instance, in March 2023, Mitsubishi Shipbuilding Co., Ltd., a Japan-based company, launched a liquefied carbon dioxide LCO2 carrier intended for carbon capture, use, and storage CCUS.

How Is The Liquid And Bulk Transportation Vessels Market Segmented?

The segments of the liquid and bulk transportation vessels market covered in this report include:
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

Offering a unique perspective on the regional landscape of the market, Europe was the largest region in 2023. The other regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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