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Home » Equipment and Machinery » Tank Trailer Market Report 2030

Tank Trailer Market By Type (Liquid Tank Trailers [Fuel Tankers, Chemical Tankers, Food-Grade Tankers, Water Tankers], Dry Bulk Tank Trailers [Cement Trailers, Grain Trailers], Gas Tank Trailers [LNG Trailers, LPG Trailers]); By Material (Aluminum, Stainless Steel, Carbon Steel); By Capacity (Up to 10,000 Liters, 10,001–30,000 Liters, Above 30,000 Liters); By End-User (Oil and Gas, Chemicals and Petrochemicals, Food and Beverages, Agriculture, Construction); By Geography, Segment revenue estimation, Forecast, 2024–2032.

Published On: DEC-2024   |   Base Year: 2022   |   No Of Pages: 150   |   Historical Data: 2017-2021   |   Formats: PDF   |   Report ID: 98509106

The tank trailer market was USD 7.5 billion in 2023 and is expected to reach USD 10.8 billion by 2030, with a CAGR of 5.3% from 2024 to 2030.

 

Tank Trailers are various trailers that are used for the carriage of liquids, gases, and dry bulk materials. These trailers are essential to the operations of sectors like oil and gas, chemicals, food and beverages, and agriculture. Tank trailers are tank vehicles that can be used to safely transport both hazardous and non-hazardous products due to safety features.

 

Growth factors include the increase in demand for fuel, chemicals, and bulk commodities and technological development in tank trailers. The increase in trade flow, improvement of infrastructure, technological advancement, and regulatory force, especially on safe transport, also contribute to the market's growth.

 

Growth in Energy, Chemical, and Agricultural Transportation Driving Tank Trailer Demand

Rising Demand for Oil and Gas Transportation: The international demand for oil and natural gas has increased transportation requirements. Tank trailers are widely used in oil and gas industries, especially for transporting crude oil, products like petrol and diesel, and LNG. Example: In the USA, due to the increase in shale gas production in 2023, the market demanded 15% more LNG tank trailers.

 

Growth in Chemical and Petrochemical Industries: With the increase in the production and transportation of chemicals and petrochemicals, there is a demand for corrosion- and acid-resistant and hazardous chemical-carrying tank trailers. Example: Chemicals exports rose by 10% in 2023 in Germany, which prospered demand for chemical tank trailers with anti-corrosion linings.

 

Expansion in Agriculture and Food Transportation: In the agricultural and food sector, such as the dairy industry, tank trailers are used to carry bulk liquids, including milk and juices, and bulk solids like edible oils, grains, and fertilizers. Example: Indian consumption increased by 20% in 2023 due to improved efficiency of milk tankers following increased milk production.

 

Opportunities in Emerging Economies and Clean Energy Solutions Shaping Tank Trailer Demand

Increasing Demand in Emerging Markets: Current markets in Asia-Pacific, Latin America, and Africa are under-belled in tank trailers due to increasing industrialization, urbanization, and trade. Example: In Brazil, an increase in sugar and ethanol production in 2023 impacted liquid tank trailers by a similar percentage of 15%.

 

Adoption of Advanced Materials: Advanced lightweight materials such as aluminum and stainless steel applied in tank trailers lower the overhanging mass, allow larger loading coupled with greater durability and offer insight. Example: A new aluminum tank trailer model launched in 2023 in Japan decreased fuel consumption by 10%, which made many fleet operators embrace it.

 

Integration of Smart Technologies: IoT and telematics in tank trailers enable real-time tracking of temperature and pressure and the location of the tank trailers. Example: A fleet of smart Fuel tank trailers deployed in Australia in 2023 optimizes fleet operation by avoiding 15% of costs.

 

Expansion of LNG Infrastructure: Consumers' shifting from conventional fuels to LNG, a safer energy source, has led to ordering more LNG tank trailers. For example, China’s sales of LNG tank trailers increased by 18% in 2023 as the government focused on promoting clean energy solutions.

 

Market Classification and Segmentation of the Tank Trailers Market

By Type

  • Liquid Tank Trailers

    • Fuel Tankers

    • Chemical Tankers

    • Food-Grade Tankers

    • Water Tankers

  • Dry Bulk Tank Trailers

    • Cement Trailers

    • Grain Trailers

  • Gas Tank Trailers

    • LNG Trailers

    • LPG Trailers

 

By Material

  • Aluminum

  • Stainless Steel

  • Carbon Steel

 

By Capacity

  • Up to 10,000 Liters

  • 10,001–30,000 Liters

  • Above 30,000 Liters

 

By End-User

  • Oil and Gas

  • Chemicals and Petrochemicals

  • Food and Beverages

  • Agriculture

  • Construction

 

By Region

  • North America

  • Europe

  • Asia-Pacific

  • Latin America

  • Middle East & Africa

 

Segment Analysis

Leading Type: Liquid Tank Trailers

In 2023, liquid tank trailers held the largest market share of 50% owing to their extensive usage in the oil and gas, chemical, and food sectors. Example: People in Saudi Arabia identified that fuel tank trailers were also instrumental in ferrying crude oil from refineries to ports, boosting its sales by 20 percent in 2023.

 

Leading Material: Stainless Steel

Stainless steel was identified as the market leader in 2023, generating 40% of its revenues, because of its ability to withstand corrosion and to transport chemicals and food products. Example: Most production facilities in Germany required chemical tank trailers made of stainless steel to meet enhanced safety standards in 2023.

 

Leading Capacity: 10,001–30,000 Liters

The 10,001 to 30,000 liter capacity segment garnered 45% of the overall revenues in 2023, optimizing load-carrying capacity and operational adaptability. Example: In Brazil, grain tank trailers with 20,000 liters provided the growing agribusiness, which increased demand by 18% in 2023.

 

Leading End-User: Oil and Gas

The oil and gas segment generated 55% of the market revenue in 2023 due to the increased use of oil and gas for transportation worldwide. For example, Canadian consumption of crude oil tankers increased by 15 percent in 2023 due to higher production and export rates.

 

Regional Insights: Performance by Region

The North American region accounted for 35% of the global revenue in 2023, specifically owing to high demand stimulated by the oil and gas industry and innovative tank trailer construction. Example: In the United States, production and a surge in demand for shale oil in 2023 have boosted fuel tank trailer demand by 20%.

 

The Asia-Pacific region is expanding at a CAGR of 6.8% during the forecast period, driven by industrialization, construction, and agricultural production. For example, in India, the demand for cement tank trailers used for construction projects increased by 25 percent in 2023.

 

Detailed Market Classification: Exploring the Dynamics of Tank Trailer Market Segments

  • Polar Tank Trailer, LLC

  • MAC Trailer Manufacturing, Inc.

  • Heil Trailer International

  • CIMC Group

  • Schmitz Cargobull AG

  • LBT Inc.

  • Fruehauf

  • Wabash National Corporation

  • West-Mark

  • Tremcar

 

Tank Trailer Market Report Coverage

Report Attribute

Details

Forecast Period

2024 – 2030

Market Size Value in 2023

USD 7.5 billion

Revenue Forecast in 2030

USD 10.8 billion

Overall Growth Rate

CAGR of 5.3% (2024 – 2030)

Base Year for Estimation

2022

Historical Data

2017 – 2021

Unit

USD Billion, CAGR

Segmentation

By Type, By Material, By Capacity, By End-User, By Region

By Type

Liquid Tank Trailers (Fuel, Chemical, Food-Grade, Water), Dry Bulk Tank Trailers (Cement, Grain), Gas Tank Trailers (LNG, LPG)

By Material

Aluminum, Stainless Steel, Carbon Steel

By Capacity

Up to 10,000 Liters, 10,001–30,000 Liters, Above 30,000 Liters

By End-User

Oil and Gas, Chemicals and Petrochemicals, Food and Beverages, Agriculture, Construction

By Region

North America, Europe, Asia-Pacific, Latin America, Middle East & Africa

Key Market Drivers

Demand in energy, chemical, and agricultural transport, technological advancements in trailer design, regulatory standards for safety

Market Opportunities

Emerging markets, clean energy solutions, lightweight materials, smart technologies for real-time tracking

Market Restraints

High cost, supply chain challenges, environmental concerns

Key Players

Polar Tank Trailer, MAC Trailer Manufacturing, Heil Trailer International, CIMC Group, Schmitz Cargobull, LBT Inc., Fruehauf, Wabash National

 

Future Market Prospects

The Tank Trailers market is expected to grow steadily over the years due to the spread of industrialization, the development of new materials, and the need for safe and effective means of transportation. New developing economies like those in the Asia-Pacific region and Africa are likely to be key drivers of the industry.

 

By 2030, global market trends will gradually change toward automation, environmental protection, and new technologies to meet market needs and requirements. Technology and market-oriented manufacturers will be more competitive in this emerging market area.

Frequently Asked Question About This Report

The global tank trailer market was valued at USD 7.5 billion in 2023 and is projected to reach USD 10.8 billion by 2030, growing at a CAGR of 5.3% from 2024 to 2030.

Major players in the market include Polar Tank Trailer, LLC; MAC Trailer Manufacturing, Inc.; Heil Trailer International; CIMC Group; and Schmitz Cargobull AG.

North America accounted for 35% of the global revenue in 2023, driven by high demand in the oil and gas industry and innovative tank trailer construction.

Key drivers include increasing demand for fuel, chemicals, and bulk commodities; technological advancements in tank trailers; and regulatory emphasis on safe transportation.

Liquid tank trailers held the largest market share of 50% in 2023, owing to their extensive usage in the oil and gas, chemical, and food sectors.

.

Table of Contents
1.    Executive Summary
o    Overview of the Tank Trailers Market
o    Key Findings and Market Trends
o    Market Attractiveness Analysis by Type, Material, Capacity, End-User, and Region
2.    Market Introduction
o    Definition and Scope of the Market
o    Importance of Tank Trailers in Logistics and Transportation
o    Market Structure Overview
3.    Research Methodology
o    Research Approach and Data Collection Methods
o    Market Estimation and Forecasting Techniques
o    Data Validation and Triangulation
4.    Market Dynamics
o    Drivers
?    Growing Demand for Efficient Liquid and Bulk Transport Solutions
?    Rising Expansion in Oil, Gas, and Chemical Industries
o    Restraints
?    High Maintenance Costs for Specialized Tank Trailers
?    Volatility in Raw Material Prices
o    Opportunities
?    Technological Advancements in Lightweight and Durable Tank Trailers
?    Increasing Use of Tank Trailers in Emerging Economies
o    Challenges
?    Regulatory Compliance for Transporting Hazardous Materials
?    Competition from Alternative Transportation Methods
5.    Global Tank Trailers Market Analysis
o    Market Size and Forecast (2022–2032)
o    By Type:
?    Liquid Tank Trailers
?    Fuel Tankers
?    Chemical Tankers
?    Food-Grade Tankers
?    Water Tankers
?    Dry Bulk Tank Trailers
?    Cement Trailers
?    Grain Trailers
?    Gas Tank Trailers
?    LNG Trailers
?    LPG Trailers
o    By Material:
?    Aluminum
?    Stainless Steel
?    Carbon Steel
o    By Capacity:
?    Up to 10,000 Liters
?    10,001–30,000 Liters
?    Above 30,000 Liters
o    By End-User:
?    Oil and Gas
?    Chemicals and Petrochemicals
?    Food and Beverages
?    Agriculture
?    Construction
o    By Region:
?    North America
?    Europe
?    Asia-Pacific
?    Latin America
?    Middle East & Africa
6.    Regional Analysis
6.1 North America
- Market Size and Forecast by Type, Material, Capacity, and End-User
- Country Analysis:
- U.S.
- Canada
- Mexico
6.2 Europe
- Market Size and Forecast by Type, Material, Capacity, and End-User
- Country Analysis:
- Germany
- U.K.
- France
- Italy
- Rest of Europe
6.3 Asia-Pacific
- Market Size and Forecast by Type, Material, Capacity, and End-User
- Country Analysis:
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
6.4 Latin America
- Market Size and Forecast by Type, Material, Capacity, and End-User
- Country Analysis:
- Brazil
- Argentina
- Rest of Latin America
6.5 Middle East & Africa
- Market Size and Forecast by Type, Material, Capacity, and End-User
- Country Analysis:
- UAE
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
7.    Competitive Landscape
o    Market Share Analysis of Key Players
o    Recent Developments and Innovations
o    Strategic Initiatives by Leading Companies
8.    Company Profiles
o    Polar Tank Trailer, LLC
?    Business Overview
?    Product Portfolio
?    Recent Developments
o    MAC Trailer Manufacturing, Inc.
?    Business Overview
?    Product Portfolio
?    Recent Developments
o    Heil Trailer International
?    Business Overview
?    Product Portfolio
?    Recent Developments
o    CIMC Group
?    Business Overview
?    Product Portfolio
?    Recent Developments
o    Schmitz Cargobull AG
?    Business Overview
?    Product Portfolio
?    Recent Developments
o    LBT Inc.
?    Business Overview
?    Product Portfolio
?    Recent Developments
o    Fruehauf
?    Business Overview
?    Product Portfolio
?    Recent Developments
o    Wabash National Corporation
?    Business Overview
?    Product Portfolio
?    Recent Developments
o    West-Mark
?    Business Overview
?    Product Portfolio
?    Recent Developments
o    Tremcar
?    Business Overview
?    Product Portfolio
?    Recent Developments
9.    Conclusion and Recommendations
o    Key Insights and Strategic Recommendations for Market Stakeholders
10.    Appendix
o    Glossary of Terms
o    Research Methodology Details
o    References
11.    List of Tables and Figures
o    Table: Tank Trailers Market Size by Region (2024–2032)
o    Table: Market Share by Type, 2023 (%)
o    Figure: Competitive Landscape Analysis
o    Figure: Market Attractiveness Analysis by Region

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