Liquid Bulk Transportation Vessel Market Revenue to Surpass USD 111.94 Billion by 2032 |
| Market Summary: The global Liquid Bulk Transportation Vessel Market had a valuation of USD 56 billion in 2022, and it is projected to reach USD 111.94 billion by 2032, displaying a robust compound annual growth rate (CAGR) of 8% throughout the forecast period. This growth in market revenue can be primarily attributed to the increasing demand for liquid bulk transportation vessels across various industries, including Oil & Gas (O&G), chemical, and Food & Beverage (F&B). Furthermore, the market’s revenue is being driven by the growing international movement of crude oil and refined petroleum products, as well as the rising need for chemicals and food-grade liquids. The Oil & Gas (O&G) sector stands out as a significant consumer of liquid bulk transportation vessels, primarily for transporting crude oil and other petroleum products from production sites to refineries and storage facilities. The continuous global demand for crude oil has led to an escalated requirement for liquid bulk transportation vessels. Additionally, the chemical industry represents another substantial user of these vessels. Given the necessity for safe and efficient transportation of chemicals, specialized vessels designed for the purpose have witnessed increased demand. These vessels are engineered to transport both hazardous and non-hazardous substances across a broad spectrum of chemical applications, including automotive, construction, and healthcare, contributing to the growing demand for liquid bulk transportation vessels. The Food & Beverage (F&B) sector also plays a prominent role in the utilization of liquid bulk transportation vessels. These vessels are employed for transporting a variety of food-grade liquids such as fruit juices, milk, and edible oils. The upsurge in global demand for food-grade liquids has resulted in an increased need for liquid bulk transportation vessels in this sector. Read More: https://www.reportsanddata.com/report-detail/liquid-bulk-transportation-vessel-market Strategic Developments: • In 2021, Maersk Tankers entered into a Memorandum of Understanding (MoU) with TotalEnergies, laying the foundation for a collaborative effort to explore a carbon-neutral shipping initiative. The primary objective of this project is to spearhead the development of cutting-edge technologies and innovations aimed at mitigating carbon emissions within the shipping industry. • In 2020, Teekay Corporation formalized a long-term time-charter agreement with Cheniere Energy, Inc. for the lease of two liquefied natural gas (LNG) carriers. This contract is strategically aligned with the goal of facilitating Cheniere’s LNG export operations from the United States. • In 2020, Stolt-Nielsen Limited introduced a novel tank container logistics service named Stolt Tank Containers. This service is designed to provide customers with a comprehensive range of logistics solutions for the safe transportation of liquids, chemicals, and other potentially hazardous materials. • In 2020, Odfjell SE disclosed its acquisition of five chemical tanker vessels from Chemical Transportation Group. This acquisition was executed with the aim of expanding Odfjell’s fleet and bolstering its presence within the chemical tanker market. • In 2020, Scorpio Tankers Inc. successfully finalized the acquisition of 19 LR2 tankers from Trafigura Maritime Logistics. This strategic acquisition was undertaken to reinforce Scorpio’s position within the clean tanker market and to expand its overall fleet capacity. Get Free Sample PDF (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.reportsanddata.com/download-free-sample/7406 |