DUBLIN–(BUSINESS WIRE)–The “Bulk Liquid Global Market Report 2022: By End Use By Properties” report has been added to ResearchAndMarkets.com’s offering.
The global bulk liquids market is expected to grow from $50.65 billion in 2021 to $55.31 billion in 2022 at a compound annual growth rate (CAGR) of 9.2%. The market is expected to grow to $75.17 billion in 2026 at a compound annual growth rate (CAGR) of 8%.
Major players in the bulk liquids trucking market are Tankstar USA, Kenan Advantage Group Inc, Foodliner, Quality Distribution, Trimac Transportation Services, Heniff Transportation Systems, A&R Logistics, Superior Bulk Logistics, Groendyke Transport, and Ruan.
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.
The main types in the bulk liquids trucking market are edible liquids and non-edible liquids. Edible liquids are anything liquid and edible that is safe for human consumption. The market is segmented by properties into flammable and non-flammable and by end-use into chemical, dairy, beverages, and others.
Asia Pacific was the largest region in the abulk liquids trucking market in 2021. North America was the second largest region in the bulk liquids trucking market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Increasing production and consumption of chemicals drives the demand for the bulk liquids transportation market. According to the American Chemical Council, tons of products are supplied to the chemicals industry through rail, truck, waterborne modes, and pipelines According to the Eurostat statistics released in 2020, the production and consumption of hazardous chemicals in the EU stood at 230 million tons. Therefore, high production and consumption of chemicals and related products are projected to generate high demand for bulk liquids trucking transportation and subsequently fuel the growth of the market.
The driver shortage is one of the major factors restricting the growth of the bulk liquid trucking market. According to the American Trucking Associations report of 2019, there is a need for 60,000 more commercial drivers to keep America’s trucking industry moving. The report also suggests that the industry needs to hire an average of 110,000 drivers per year to meet both increasing demands for new truck drivers and to replace retiring drivers. The severe scarcity of drivers is negatively impacting the growth of the bulk liquid trucking market.
Electronic Logging Devices (ELD) are increasingly being adopted by the trucking industry to regulate the working hours of 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.
Key Topics Covered:
1. Executive Summary
2. Bulk Liquid Market Characteristics
3. Bulk Liquid Market Trends And Strategies
4. Impact Of COVID-19 On Bulk Liquid
5. Bulk Liquid Market Size And Growth
5.1. Global Bulk Liquid Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Bulk Liquid Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Bulk Liquid Market Segmentation
6.1. Global Bulk Liquid Market, Segmentation By Liquid Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
6.2. Global Bulk Liquid Market, Segmentation By End Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
6.3. Global Bulk Liquid Market, Segmentation By Properties , Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7. Bulk Liquid Market Regional And Country Analysis
7.1. Global Bulk Liquid Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Bulk Liquid Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/rtq2p3
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