The Bulk Liquid Market Is Shaped By Increasing Chemical Demand And The ELD Technology – World News Report
The Business Research Company’s Bulk Liquid Market Report – COVID-19 Impact and Recovery
LONDON, GREATER LONDON, UK, September 25, 2021 /EINPresswire.com/ — 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. Therefore, high production and consumption of chemicals and related products are projected to generate high demand for bulk liquids trucking transportation and subsequently fueling the growth of the bulk liquid 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. The USA is among the early adopters 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.
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The global bulk liquids market size 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%.
Major players covered in the global bulk liquid 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, Ruan, Dupre Logistics, Eagle Transport Corp., Martin Transport Inc., Florida Rock & Tank Lines, Coastal Transport Co., Apex Logistics, Cliff Viessman Inc., J&M Tank Lines Inc., Andrews Logistics, Grammer Industries, CCC Transportation/ CTL Transportation, Prime Inc., CLI Transport, Transportes Auto Tanques Ochoa, Herman R. Ewell Inc., Solar Transport, Service Transport Co., Tidewater Transit Co., Schilli Corp., Liquid Trucking, Liquid Trucking.
TBRC’s global bulk liquid market report is segmented by liquid type into edible liquids, non-edible liquids, by end use into chemical, dairy, beverages, others, by properties into flammable, non-flammable.
Bulk Liquid Global Market Report 2021 – By Liquid Type (Edible Liquids, Non-Edible Liquids), By End Use (Chemical, Dairy, Beverages), By Properties (Flammable, Non-Flammable), COVID-19 Impact and Recovery is one of a series of new reports from The Business Research Company that provides bulk liquid market overview, forecast bulk liquid market size and growth for the whole market, bulk liquid market segments, and geographies, bulk liquid market trends, bulk liquid market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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