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.

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

 

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.