Based on a brand new market report revealed by Credence Analysis Inc “Tanker Trucks Market – Development, Share, Opportunities, Competitive Evaluation, and Forecast 2017 – 2025, the tanker trucks market worldwide is predicted to succeed in US$ 1.28 Mn by 2025, growing at a CAGR of 5.5% from 2017 to 2025. The worldwide market for tanker trucks is primarily driven by development in the worldwide the oil and gas industry because it represents the largest commodity for tank truck freight. As well as, stringent rules related to transportation and loading and unloading of petroleum and chemical merchandise are expected to fuel the demand for advance truck models which match necessary transportation necessities. Nations the world over are investing in chemical and petroleum production capability expansion. Steady rebound in the worldwide building business is also anticipated to drive the demand for tanker trucks used for water and concrete mixture. All these components are expected to increase the demand for tanker trucks globally.
Asia Pacific represents the most important regional market for tanker trucks adopted by North America. The tanker trucks market in Asia Pacific is primarily influenced by the rising demand for petroleum merchandise within the region. India and China are expected to witness appreciable development within the area. The U.S. reaction kettle represents the biggest tanker trucks market in North America. The petroleum segment (gasoline, diesel, and aviation gas) is the largest application phase for tanker trucks in North America and accounted for almost 50% of the overall tank truck freights. The tanker truck market is anticipated to witness a substantial growth within the area with growing growth in chemical and oil and fuel industry. The U.S. is predicted to invest US$ 125 Bn to US$ 150 Bn within the growth of chemical business. In addition, stringent regulations in transportations of hazardous liquid and chemicals are expected to drive the demand for tanker trucks within the region. US Division of Transportation (DOT) and the American Society of Mechanical Engineers (ASME) have launched some codes and obligatory specification associated to transportation of hazardous liquid tank our bodies consists of DOT406, DOT407 and MC331.
Primarily based on capacity of tanker trucks, the market is segment into Small Obligation (Lower than 1,000 gallons), Medium Duty (Between 1,000 gallons and four,000 gallons) and huge Duty (More than four,000 gallons). Medium capacity tanker trucks represents the most important section in the general tanker trucks market. This section is predicted to maintain its dominating place throughout the forecast interval with rising demand for these types of trucks from petroleum and chemical industries.
The tanker trucks market represents consolidated market of bulk feed tank trucks, coded tank truck, water tank truck, sewer jetters and others. Coded tanker trucks segment dominated in the general tanker trucks market by truck sort. This class is also expected to witness the fastest development by way of the forecast 2017 – 2025.
The worldwide tanker trucks market is very competitive and dominated by multination players. Some of the important thing players in the worldwide tanker trucks market include Ford Motor Firm, Polar Tank Trailer, LLC, Seneca Tank, Tremcar, Volvo Group, MAN Truck & Bus AG (Volkswagen), Mercedes (Daimler), Iveco, Hyundai Motor Company, Kenworth, Tata Motors Limited, Scania AB (Volkswagen), Freightliner Trucks (Daimler), Navistar International Corporation and others.
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