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Allied Market Research

Tank Trucking Market by Fleet Type (For-hire, and Private), Capacity (Light Duty, Medium Duty, and Heavy Duty), Type (Lorry Tank, Truck Trailer, Refrigerated Truck, and Flatbed Truck), and End User (Oil & Gas, Industrial & Manufacturing, Defense, Energy & Mining, Chemicals and Others): Global Opportunity Analysis and Industry Forecast, 2021–2028

A11524
Pages: NA
Aug 2021 | 195 Views
   
Author(s) : Sonia Mutreja
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COVID-19

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Tank Trucking Market Outlook 2028 -

The tank trucking industry includes operators who use trucks and trailers to provide long-distance professional cargo transportation. Goods transported in this industry require specialized equipment for transportation due to their size, weight, shape, or other characteristics. Tank trucking market is classified into low duty tanker truck, medium duty tanker truck, and heavy duty tanker truck. A tank truck is a motor vehicle specially designed to transport goods such as automobiles, oil, coal, iron ores, gases, frozen food, heavy machinery, and other freight that cannot be transported via standard box trailers from one place to another by road. Tank trucks are commonly known by different names such as “Tanker Truck” or “Petroleum Tanker.” They are used on routes that are not connected by pipelines or by a railroad. They are also used to transport fuels as well as toxic or non-toxic chemicals. Hazardous materials are usually transported by tanker trucks so transporters must comply with higher regulations and standards.

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2020–2028

  Base year considered

  2020

  Forecast period

  2021–2028

  Forecast units

  Value (USD)

  Segments covered

  Fleet type, Capacity, Type, End User, and Region

  Regions covered

North America (U.S., Canada and Mexico), Europe (Germany, U.K, France, Russia and rest of Europe), Asia-Pacific (China, Japan, India, South Korea and rest of Asia-Pacific), LAMEA (Latin America, Middle East and Africa)

  Companies covered

Ford Motor Company, Polar Tank Trailer, Seneca Tank, Tremcar, Volvo Group, MAN Truck & Bus AG (Volkswagen), Mercedes (Daimler), Iveco, Hyundai Motor Company, and Tata Motors Limited.


COVID-19 scenario Analysis:

The tank trucking industry all over the world has been affected severely due to government restrictions during the COVID-19 lockdown on delivery of non-essential goods. The pandemic has impacted every sector. However, the pandemic has accelerated the FMCG industry and health care industry, which directly impacts the tank trucking industry in a positive way. An unprecedented global disruption, owing to the COVID-19 outbreak is observed in the tank trucking market, which, in turn, has caused an uncertainty toward demand and supply of trucks. Majority of tank trucking manufacturers are facing major issues such as shutdown of all operations, low production productivity, and shortage of workforce due to government declared lockdowns.

Top impacting factors: market scenario analysis, trends, drivers, and impact analysis

  • Growing economic activities worldwide, technological advancements, increasing production and trade of oil & gas and chemical products are expected to drive demand for the tank trucking market globally.
  • Rules related to loading and unloading of dangerous products such as chemical, petroleum, and other hazardous material are expected to hamper growth of the market.
  • Gradually recovering construction industry and developing healthcare infrastructure is expected to support growth of the tanker trucking market.

Technological advancements

Technological advancements are changing shape, size, and structure of components in tank trucking. Currently, manufacturers are emphasizing on lightweight components and parts that are reliable, durable, and help improve efficiency of vehicles. Tank trucks are used to store fuel, which is used to power vehicles. Composition of theses trucks is more solid and tough, as compared to fuel tanks of other kinds. For instance, in June 2019, Volvo joined with Nvidia Corp to develop artificial intelligence used in self-driving trucks. In addition, in 2020, Tata motors launched their new fleet of refrigerated tank trucks during the pandemic. Expansion and new technological advancements are introduced in the trucking trucks industry, which are expected to propel the market growth.

Key segments covered:

Segments

Subsegments

  Fleet Type

  • For-hire
  • Private

  Capacity

  • Light Duty
  •  Medium Duty
  •  Heavy Duty

  Type

  • Lorry Tank
  •  Truck Trailer
  •  Refrigerated Truck
  •  Flatbed Truck

  End User

  • Oil & Gas
  •  Industrial & Manufacturing
  •  Defense
  •  Energy & Mining
  •  Chemicals
  • Others

  Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa


Key benefits of the report:

  • This study presents the analytical depiction of the tank trucking industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with challenges of the tank trucking market.
  • The current market is quantitatively analyzed from 2020 to 2028 to highlight the tank trucking market growth scenario.
  • We can also determine tank truck will remain a significant revenue shareholder in the tank trucking market through the predictable future.

Questions answered in the tank trucking market research report:

  • Which are the leading market players active in the tank trucking market?
  • What would be the detailed impact of COVID-19 on the market?
  • What current trends would influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the tank trucking market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
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  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
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