Latest News- Tank Trucking Market: For hire is expected to lead the Ownership segment during 2025-2029

The Tank Trucking Market is being driven by Growing demand for oil and natural gas

The Tank Trucking Market is expected to grow at a CAGR of 8.5% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 134.2 billion. In the evolving tank trucking industry, technological innovations are driving shifts in market share, size, and structure. Manufacturers are prioritizing lightweight, robust components and parts for tank trucks, enhancing efficiency and reducing overall vehicle weight. Advanced materials, such as corrosion-resistant aluminum alloys and composites, are increasingly utilized for tank truck construction. This strategic shift results in several benefits, including increased payload capacity, lower fuel consumption, and heightened transportation efficiency. For instance, aluminum alloy tank trucks can save approximately 30-40% in vehicle weight compared to traditional carbon steel counterparts, leading to substantial fuel savings and improved operational performance. 

Get more information on Tank Trucking Market by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Ownership
  • For hire
  • Private
• Capacity
  • Medium duty
  • Heavy duty
  • Light duty
• Application
  • Oil and gas
  • Chemicals
  • Food and beverage
  • Agriculture
  • Others
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
  • APAC
    • China
    • India
    • Singapore
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing demand for oil and natural gas
• Rapid urbanization and industrialization
• Rapidly growing logistic industry

However, the market also witnesses some limitations, which are as follows:

• Leakage issues during transportation of oil and gas
• Stringent regulations hinder market growth
• High costs associated with purchasing tank trucks

Benefits of Buying Global Tank Trucking Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Tank Trucking Market Research Report

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The Tank Trucking Market encompasses various sectors including trailer manufacturing, tanker maintenance, and logistics providers. Freight brokers and third-party logistics (3PL) companies play crucial roles in coordinating transportation. Intermodal transport options like rail and shipping containers are utilized for efficient port operations and warehouse management. Inventory management and supply chain optimization are key considerations, along with fuel cards, driver pay, and welfare. Route planning software, traffic management, weather forecasting, and road conditions are essential for efficient operations. Safety is prioritized through security systems, cargo theft prevention, insurance providers, financing options, and regulatory bodies. Maintenance contracts, fleet management software, fuel consumption monitoring, driver behavior analysis, vehicle tracking, engine diagnostics, preventive maintenance programs, repair shops, and parts distributors ensure optimal fleet performance. Safety audits and compliance certifications, along with driver licensing, are necessary for regulatory compliance.

Market Research Overview

The global tank trucking market encompasses the revenue generated by companies supplying tank trailers, components such as fuel systems and emissions control systems, as well as logistics services for dry van trailers, reefer trailers, and flatbed trailers. According to Technavio's market analysis, the air freight and logistics industry, which includes tank trucking, is projected to expand due to the surge in cross-border e-commerce activities. This growth is driven by customers purchasing goods from foreign sources, necessitating efficient and reliable transportation solutions, including advanced tank trailer technologies and GPS tracking systems.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/