Global Liquid Tank Containers Market Size, Share, and COVID-19 Impact By Type (Stainless Steel, Carbon Steel, and Others), By Application (Chemicals, Food and Beverages, Oil and Gas, Pharmaceuticals, and Others), By End-User (Logistics, Manufacturing, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033.
Industry: Automotive & TransportationGlobal Liquid Tank Containers Market Insights Forecasts to 2033
- The Global Liquid Tank Containers Market Size was estimated at USD 838.92 Million in 2023
- The Market Size is expected to Grow at a CAGR of around 5.66% from 2023 to 2033
- The Worldwide Liquid Tank Containers Market Size is Expected to Reach USD 1454.92 Million by 2033
- North America is expected to Grow the fastest during the forecast period.
Get more details on this report -
The Global Liquid Tank Containers Market Size was worth around USD 838.92 Million in 2023 and is predicted to Grow to around USD 1454.92 Million by 2033, with a compound annual growth rate (CAGR) of 5.66% between 2023 and 2033. The market is driven by the growing need for secure and effective transportation of bulk liquids within different industries, including chemicals, food and beverages, oil and gas, and pharmaceuticals. Additionally, rowing focuses on sustainability and safety compliance in the transportation industry also accelerates the market's growth.
Market Overview
The liquid tank containers market refers are specialized intermodal containers utilized for the carriage of bulk liquids such as chemicals, oils, and food-grade products. They are composed of stainless steel and fitted into a normal ISO frame, making them suitable for secure, efficient transportation through ships, trains, and trucks. Markets are becoming more specialized, and their needs for the transportation of bulk liquids are increasingly specialized as well. This development is a profitable opportunity for producers to provide tailored container solutions that are adapted to fit the unique needs of industries. The qualities of advanced material technologies and leading-edge design capabilities can also add to the attractiveness of these tailored solutions, serving a broad spectrum of uses and fueling market expansion. Moreover, there is an increasing need for bulk transport of liquids such as oils and juices due to a rise in consumer demand for packaged products. The pharmaceutical industry is also seeing rising demand for liquid tank containers for transporting delicate products such as vaccines and intravenous fluids. As reported by the U.S. Transportation Department, liquid bulk transportation will be responsible for more than 25% of total freight shipments in the next decade, illustrating the importance of liquid tank containers in addressing logistical demands from these various sectors.
Report Coverage
This research report categorizes the liquid tank containers market based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyzes the key growth drivers, opportunities, and challenges influencing the liquid tank containers Market. Recent market developments and competitive strategies such as expansion, type launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyzes their core competencies in each sub-segment of the liquid tank containers market.
Global Liquid Tank Container Market Report Coverage
Report Coverage | Details |
---|---|
Base Year: | 2023 |
Market Size in 2023 : | USD 838.92 Million |
Forecast Period: | 2023-2033 |
Forecast Period CAGR 2023-2033 : | 5.66% |
2033 Value Projection: | USD 1454.92 Million |
Historical Data for: | 2019-2022 |
No. of Pages: | 200 |
Tables, Charts & Figures: | 100 |
Segments covered: | By Type (Stainless Steel, Carbon Steel, and Others), By Application (Chemicals, Food and Beverages, Oil and Gas, Pharmaceuticals, and Others), By End-User (Logistics, Manufacturing, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa) |
Companies covered:: | Stolt-Nielsen Limited, Hoyer Group, Bulkhaul Limited, Den Hartogh Logistics, Suttons Group, Eurotainer SA, R.M.I. Global Logistics, M&S Logistics, Tankformator, Dana Transport, Inc., CS Leasing, EXSIF Worldwide, Inc., Seaco Global Ltd., and Others |
Pitfalls & Challenges: | COVID-19 Impact, Challenges, Future, Growth, & Analysis |
Get more details on this report -
Driving Factors
The liquid tank containers market is driven by some major trends. The main growth drivers for the liquid tank containers market are the surging worldwide trade in bulk liquids, especially in the chemical and oil, and gas sectors. As the global chemical industry is expected to expand at a significant rate, the demand for safe and effective transportation options will also increase accordingly. In addition, the oil and gas industry is experiencing large-scale investments and developments, thereby driving the demand for liquid tank containers even more. The containers provide safe and efficient transportation of hazardous and non-hazardous liquids in compliance with strict regulatory standards. Furthermore, a growing emphasis on sustainability and environmental conservation. The application of these containers also supports worldwide efforts to minimize carbon footprints and comply with international environmental regulations. Moreover, innovations in the materials and technologies used in manufacturing liquid tank containers make them more durable and efficient, thus a sought-after option in many industries.
Restraining Factors
The liquid tank containers market encounters certain difficulties that would restrain its development. The major restrainers are the initial high price of liquid tank containers. Advanced materials and manufacturing technologies employed to make the containers more expensive may act as a hindrance to small and medium-sized enterprises (SMEs) seeking to implement these solutions.
Market Segmentation
The liquid tank containers market share is classified into type, application, and end-user.
- The stainless steel segment held the largest share of the market in 2023 and is projected to grow at a substantial CAGR during the forecast period.
Based on type, the liquid tank containers market is segmented into stainless steel, carbon steel, and others. Among these, the stainless steel segment held the largest share of the market in 2023 and is projected to grow at a substantial CAGR during the forecast period. The segmental growth is due to their higher corrosion and contamination resistance, which is imperative for the transportation of chemicals and food-grade fluids. Furthermore, the long life and longevity of stainless-steel tanks render them an economical option in the long term.
- The chemicals segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on application, the global liquid tank containers market is divided into chemicals, food and beverages, oil and gas, pharmaceuticals, and others. Among these, the chemicals segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The growth is driven by the increased demand for bulk transportation of different chemicals, both hazardous and non-hazardous. Additionally, the global exportation of chemicals also increases the demand for these containers.
- The logistics segment accounted for the largest share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on end-user, the global liquid tank containers market is categorized into logistics, manufacturing, and others. Among these, the logistics segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The segment's growth is attributed mainly to the necessity of effective and safe transportation alternatives for different bulk liquids. Moreover, these containers facilitate the secure handling and carriage of hazardous and non-hazardous liquids, making them as a necessity in the world of logistics.
Regional Segment Analysis of the Liquid Tank Containers Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
Asia-Pacific is anticipated to hold the largest share of the liquid tank containers market over the predicted timeframe.
Get more details on this report -
Asia-Pacific is anticipated to hold the largest share of the liquid tank containers market over the predicted period. This dominance is due to the increasing industrialization and growing trade operations in nations such as China, India, and Japan. Furthermore, the strong manufacturing base of the region, especially in the chemical and food, and beverage sectors, greatly supports the market growth.
North America is expected to grow rapidly in the liquid tank containers market during the forecast period. The market in the region is driven by its mature chemical and oil, and gas sectors. Safety and regulatory adherence are top priorities in the region, and these drive demand for liquid tank containers that must adhere to high standards. Moreover, the availability of key market players and the continued evolution of container technology also support the North American market expansion.
Competitive Analysis:
The report offers an appropriate analysis of the key organization markets/companies involved within the liquid tank containers market, along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, business strategies, segment market share, and SWOT analysis. The report also provides an elaborate analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Companies
- Stolt-Nielsen Limited
- Hoyer Group
- Bulkhaul Limited
- Den Hartogh Logistics
- Suttons Group
- Eurotainer SA
- R.M.I. Global Logistics
- M&S Logistics
- Tankformator
- Dana Transport, Inc.
- CS Leasing
- EXSIF Worldwide, Inc.
- Seaco Global Ltd.
- Others
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In June 2023, CIMC Enric Holdings Limited and its subsidiaries (together, "CIMC Enric" or "Group") (Hong Kong stock code: 3899.HK) launched the successful commissioning of its first 40-foot liquid hydrogen tank container at the CIMC Hydrogen Nantong.
Market Segment
This study forecasts revenue at the global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the liquid tank containers market based on the below-mentioned:
Global Liquid Tank Containers Market, By Type
- Stainless Steel
- Carbon Steel
- Others
Global Liquid Tank Containers Market, By Application
- Chemicals
- Food and Beverages
- Oil and Gas
- Pharmaceuticals
- Others
Global Liquid Tank Containers Market, By End-User
- Logistics
- Manufacturing
- Others
Global Liquid Tank Containers Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
Frequently Asked Questions (FAQ)
-
1. What is the CAGR of the liquid tank containers market over the forecast period?The global liquid tank containers market is projected to expand at a CAGR of 5.66% during the forecast period.
-
2. What is the market size of the liquid tank containers market?The global liquid tank containers market size is expected to grow from USD 838.92 million in 2023 to USD 1454.92 million by 2033, at a CAGR of 5.66% during the forecast period 2023-2033.
Need help to buy this report?