Tank Container Market Size By Product Type (Multi-compartment tank, Lined tank, Reefer Tank, Cryogenic & Gas Tanks, and Swap Body Tank), Transport Mode (Road, Rail, and Marine), Application (Chemical, Petrochemical, Food & Beverages, Pharmaceuticals, Industrial Gas), Regions, Segmentation, and Projection till 2029
CAGR: 8.7%Current Market Size: USD 1483.00 MillionFastest Growing Region: North America
Largest Market: APACProjection Time: 2022-2029Base Year: 2021
Global Tank Container Market- Market Overview:
The Global Tank Container market is expected to grow from USD 1483.00 million in 2021 to USD 2890.53 million by 2029, at a CAGR of 8.7% during the Projection period 2022-2029. This market growth is mainly driven by continued growth in the seaborne trade, making it safer and faster to transport.
A tank container which is also called a tank container is an intermodal container that is widely used for transporting gases, liquids, and powders as bulk cargo. It is built to the ISO standards, making it suitable for different modes of transportation; as such, it is also called an ISO tank. Tank containers are widely used to transport hazardous and non-hazardous materials via road, sea, and rail routes. It is usually a stainless-steel body that is enclosed by insulation and protected with a layer of polyurethane and aluminum. The main vessel of the container is placed inside a steel frame. Usually, tank containers are loaded from the top and unloaded from the bottom. A standard-size tank container usually consists of a manhole, one valve at the bottom, and a minimum one at the top. Tank containers are mostly used in the transportation and handling of liquid products such as oil, chemicals, and liquid food products.
The increasing growth in seaborne transport drives the market’s growth coupled with the increasing demand for tank containers to transport all kinds of liquids, gases, and solids.
Request Sample:- Global Tank Container Market
Market Dynamics:
Drivers:
- Growth of the container shipping industry
The increasing growth of the shipping industry is expected to drive the market’s growth. The increasing demand for tank containers to transport various commodities and to meet the increasing demand of the shipping industry to transport liquid and gaseous materials drive the growth of the market. The increasing industrialization increases the need for raw materials, which in turn increases the demand for transportation of raw materials from one country to another, propelling the growth of the market.
Restraints:
- Increasing competition
The major problem associated with a tank container is the fact that the competition in the tank container is increasing rapidly, which leads to pressurizes on the market players to invest much in the market and has to invest in the latest technological developments, which also adds to the cost of the products. Such Problems associated with using Tank Containers may hamper the growth of the global market to some extent during the Projection period.
Opportunities:
- The increasing governmental initiatives
The increasing initiative by the government to promote the export capacity of multiple commodities via all modes of transport provides an opportunity for the market’s growth. The increasing transport of commodities is expected to bring an inflow of foreign currency for the growth of the economy. This athleisure trend is projected to create lucrative growth opportunities for the market. For instance, the European Union’s increasing agricultural commodity trade project is working towards strengthening the export capacity of Asia Pacific countries across industries such as forestry, livestock, agriculture, and more.
Challenges:
- Availability of cheap products in the market
The global Tank Container market is considerably fragmented with the presence of several international and local players. Hence, the unorganized Tank Container sector creates cheaper alternatives as local manufacturers compete strongly with global suppliers in various countries. The global industry is seeing a huge supply of cheap products manufactured using cheap raw materials. Also, several developing countries are seeing the emergence of small players in the market, which manufacture Tank containers with cheap products at low prices to attract more consumers. This has posed a considerable challenge for leading market players.
Segmentation Analysis:
The global Tank Container market has been segmented based on Product Type, Transport Mode, Application, and regions.
By Product Type
The Product Type segment includes multi-compartment tanks, lined tanks, reefer tanks, cryogenic & gas tanks, and swap body tanks. The multi-compartment tank segment led the Tank Container market with a market share of around 25.09% in 2021. This is attributed to the multiple advantages of the multi-compartment container to carry out multiple types of freight. In addition, such types of tank containers are also useful for transporting liquids, solids, and gases, fueling the growth of the multi-compartment tank segment.
By Transport Mode
The Transport Mode segment includes road, rail, and marine. The road segment led the Tank Container market with a market share of around 59.85% in 2021. The growth of this segment is mainly driven by the proliferation of an efficient logistical support system. The significant improvement in road vehicles coupled with improvement in road infrastructure propels the segment’s growth. Furthermore, the gradual removal of regulations restricting road freight carriage supplements the segment’s growth.
By Application
The Application segment includes chemical, petrochemical, food & beverages, pharmaceuticals, and industrial gas. The petrochemical segment led the Tank Container market with a market share of around 38.17% in 2021. The increasing demand for oil across various countries provides an opportunity for the segment’s growth. The demand for petrochemical is expected to exceed gasoline and diesel by 2030, which supplements the segment’s growth. New process technologies are expected to change the entire chemical landscape providing growth opportunities for the segment. All of the factors mentioned above contribute to the growth of this segment.
By Regional Analysis:
The regions analyzed for the Tank Container market include North America, Europe, South America, Asia Pacific, and the Middle East, and Africa. Asia Pacific region dominated the Tank Container market and held a 36.1% share of the market revenue in 2021.
- Asia Pacific region has registered the highest value for the year 2021 due to the swift economic development and industrial development. China in the region is one of the leading producers of shipping containers and has witnessed extensive development of manufacturing abilities. This has created lucrative growth opportunities for the market.
- The North American region is expected to witness the highest growth rate during the Projection period. Several factors include better transportation services in the region. The US is the leading country for container transport, followed by Canada, which is projected to be opportunistic for the market's growth.
Global Tank Container Market- Country Analysis:
- Germany
Germany's Tank Container market size was valued at USD 53.87 million in 2021 and is expected to reach USD 94.6 million by 2029, at a CAGR of 7.3% from 2022 to 2029.
The availability of better transportation services in the region propels the growth of the market in the region. Furthermore, growing urbanization along with an increase in construction activities, are likely to increase the demand for tank containers in the German region.
- China
China Tank Container's market size was valued at USD 196.99 million in 2021 and is expected to reach USD 431.56 million by 2029, at a CAGR of 10.3% from 2022 to 2029. This country's increasingly expanding population and economy have mainly driven the growth of the tank container market. In addition, China is one of the biggest producers of shipping containers and has witnessed an extensive development of manufacturing abilities. Moreover, there is also an increase in the economic and trade development of the country. The growth in China’s international trade has also increased the demand for tank containers.
- India
India Tank Container's market size was valued at USD 113.48 million in 2021 and is expected to reach USD 213.17 million by 2029, at a CAGR of 8.2% from 2022 to 2029.
India, in recent times, has started manufacturing tank containers on a large scale which has led to a reduction in the sale of Chinese tank containers. India is already paying up to 40% more on the actual price of imported containers due to hefty taxes on both countries' products and higher shipping costs. India is considered to be a budding market for tank containers during the Projection period as several market players are setting up manufacturing units in India as labor charges are very less in the country.
Key Industry Players Analysis:
To increase their market position in the global Tank Container business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
- Danteco industries
- Meeberg
- Tankformator
- THIELMANN
- Tankcon
- Stolt-Nielsen Limited
- Bertschi AG
- Bulkhaul Limited
- China International Marine Containers (Group) Ltd.
- Welfit Ody
Latest Development:
- In July 2021, Arkema collaborated with Nexxiot, a Swiss company that offers digital logistics solutions. This collaboration aims at digitizing Arkema's tank container and rail freight wagon fleets, utilizing Nexxiot's IoT devices and intelligent cloud platform to help Arkema clients achieve end-to-end visibility, increase quality standards, and improve the overall service experience.
Report Metrics
|
Report Attribute |
Details |
|
Study Period |
2021-2029 |
|
Base year |
2021 |
|
CAGR (%) |
8.7% |
|
Market Size |
1483.00 million in 2021 |
|
Projection period |
2022-2029 |
|
Projection unit |
Value (USD) |
|
Segments covered |
Product type, Transport Mode, Application, and Regions |
|
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
|
Companies covered |
Danteco industries, Meeberg, Tankformator, THIELMANN, Tankcon, Stolt-Nielsen Limited, Bertschi AG, Bulkhaul Limited, China International Marine Containers (Group) Ltd., Welfit Ody, among others. |
|
By Product Type |
|
|
By Transport Mode |
|
|
By Application |
|
|
Regional scope |
|
Scope of the Report
Global Tank Container Market by Product Type:
- Multi-compartment tank
- Lined tank
- Reefer Tank
- Cryogenic & Gas Tanks
- Swap Body Tank
Global Tank Container Market by Transport Mode:
- Rail
- Road
- Marine
Global Tank Container Market by Application:
- Chemicals
- Petrochemical
- Food & Beverages
- Pharmaceuticals
- Industrial Gas
Global Tank Container Market by Region:
- North America
- USA
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Russia
- Asia-Pacific
- Japan
- China
- India
- Korea
- Southeast Asia
- South America
- Brazil
- Peru
- Middle East and Africa
- UAE
- South Africa
- Saudi Arabia
Frequently Asked Questions
How Big is Tank Container market?
Global Tank Container market size is USD 1483.00 million in 2021
What is the growth rate of Tank Container Market?
Tank container market is expected to reach USD 2890.53 million by 2029 at rate of CAGR of 8.7% from 2022 to 2029.
What is the driving factor for Tank Container Market?
The growth of the container shipping industry is projected to influence the market in the upcoming years.
What is the most significant Transport Mode of Tank Container?
Road segment led the Tank Container market with a market share of around 59.85% in 2021
What is the opportunity for the Tank Container market?
The increasing government initiatives are expected to provide an opportunity for the growth of the Tank Container market over the Projection period.
Which are the leading market players active in the Tank Container market?
Leading market players active in the global Tank Container market are Danteco industries, Meeberg, Tankformator, THIELMANN, Tankcon, Stolt-Nielsen Limited, Bertschi AG, Bulkhaul Limited, China International Marine Containers (Group) Ltd., Welfit Ody among others.
Political Factors- There is a strong correlation between this growing maritime conflict and the political processes anticipated by the general theory of hegemonic stability. But "hegemony" and "power" are distinct concepts. Instability in international shipping arises neither from America's loss of power in shipping nor from challenges from Europe and the Third World. The increasing initiative by the government to promote the export capacity of multiple commodities via all modes of transport provides an opportunity for the market’s growth. The increasing transport of commodities is expected to bring an inflow of foreign currency for the economy's growth. This athleisure trend is projected to create lucrative growth opportunities for the market. For instance, the European Union’s increasing agricultural commodity trade project is working towards strengthening the export capacity of Pacific countries across industries such as forestry, livestock, agriculture, and more.
Economical Factors- This method uses approximations to determine the so-called grass root cost, which is a cost approximation including labor, installation, and maintenance cost. Adding all the different elements bought, a total estimated investment cost is obtained. While not extremely precise, this cost indicates how expensive the process is and can give indications about its feasibility. Furthermore, the increasing competition in the market is forcing market players to invest in the overall manufacturing cost of tank containers. This is expected to increase the overall manufacturing cost of the tank containers.
Social Factor- The swift economic development and industrial development. China in the region is one of the leading producers of shipping containers and has witnessed extensive development of manufacturing abilities. Better transportation services in the North American region adds to the market's growth and increases the transportation of raw materials for several industries globally. For instance, in recent times, India has started manufacturing tank containers on a large scale which has led to a reduction in the sale of Chinese tank containers. India is already paying up to 40% more on the actual price of imported containers due to hefty taxes on both countries' products and higher shipping costs. India is considered a budding market for tank containers during the Projection period as several market players are setting up manufacturing units in India as labor charges are very low in the country.
Technological Factors- A growing number of technologies are being developed to produce different high-added-value products, such as phytochemicals, ethanol, and other chemicals from biomass, representing an important trend that needs to be evaluated. Using the latest technologies to manufacture durable and compact tank containers also influences using the latest technologies. Manufacturing tank containers with the help of ISO mandates help abide by the rules and regulations provided for the manufacturing of tanks.
Environmental Factors- The use of tank container multi-mode transport instead of the current traditional transport mode. If this new kind of logistics operation mode is promoted, it can improve the degree of chemical logistics standardization. Besides, this model is safe; environmental protection saves resources and reduces losses. It can also decrease the inventory level of chemical materials or products in the supply chain. This kind of transport mode can realize low-lot and door-to-door logistics services. It doesn't operate cargos directly to avoid pollution and leakage.
Legal Factors- Arkema collaborated with Nexxiot, a Swiss company that offers digital logistics solutions. This collaboration aims at digitizing Arkema's tank container and rail freight wagon fleets, utilizing Nexxiot's IoT devices and intelligent cloud platform to help Arkema clients achieve end-to-end visibility, increase quality standards, and improve the overall service experience.
- Introduction
- Objectives of the Study
- Market Definition
- Research Scope
- Research Methodology and Assumptions
- Executive Summary
- Premium Insights
- Porter’s Five Forces Analysis
- Value Chain Analysis
- Top Investment Pockets
- Market Attractiveness Analysis By Product Type
- Market Attractiveness Analysis By Transport Mode
- Market Attractiveness Analysis By Application
- Market Attractiveness Analysis By Region
- Industry Trends
- Market Dynamics
- Market Evaluation
- Drivers
- Growth of the container shipping industry
- Restraints
- Increasing competition
- Opportunities
- The increasing governmental initiatives
- Challenges
- Availability of cheap products in the market
- Global Tank Container Market Analysis and Projection, By Product Type
- Segment Overview
- Multi-compartment tank
- Lined tank
- Reefer Tank
- Cryogenic & Gas Tanks
- Swap Body Tank
- Global Tank Container Market Analysis and Projection, By Transport Mode
- Segment Overview
- Road
- Rail
- Marine
- Global Tank Container Market Analysis and Projection, By Application
- Segment Overview
- Chemical
- Petrochemical
- Food & Beverages
- Pharmaceuticals
- Industrial Gas
- Global Tank Container Market Analysis and Projection, By Regional Analysis
- Segment Overview
- North America
- USA
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Asia-Pacific
- Japan
- China
- India
- South America
- Brazil
- Middle East and Africa
- UAE
- South Africa
- Global Tank Container Market-Competitive Landscape
- Overview
- Market Share of Key Players in the Tank Container Market
- Global Company Market Share
- North America Company Market Share
- Europe Company Market Share
- APAC Company Market Share
- Competitive Situations and Trends
- Product Type Launches and Developments
- Partnerships, Collaborations, and Agreements
- Mergers & Acquisitions
- Expansions
- Company Profiles
- Danteco industries
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Product Type Portfolio
- Recent Developments
- SWOT Analysis
- Meeberg
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Product Type Portfolio
- Recent Developments
- SWOT Analysis
- Tankformator
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Product Type Portfolio
- Recent Developments
- SWOT Analysis
- THIELMANN
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Product Type Portfolio
- Recent Developments
- SWOT Analysis
- Tankcon
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Product Type Portfolio
- Recent Developments
- SWOT Analysis
- Stolt-Nielsen Limited
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Product Type Portfolio
- Recent Developments
- SWOT Analysis
- Bertschi AG
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Product Type Portfolio
- Recent Developments
- SWOT Analysis
- Bulkhaul Limited
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Product Type Portfolio
- Recent Developments
- SWOT Analysis
- China International Marine Containers (Group) Ltd.
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Product Type Portfolio
- Recent Developments
- SWOT Analysis
- Welfit Ody
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Product Type Portfolio
- Recent Developments
- SWOT Analysis
- Danteco industries
List of Table
- Global Tank Container Market, By Product Type, 2021–2029(USD Million)
- Global Multi-compartment Tank Container Market, By Region, 2021–2029(USD Million)
- Global Lined Tank Container Market, By Region, 2021–2029(USD Million)
- Global Reefer Tank Container Market, By Region, 2021–2029(USD Million)
- Global Cryogenic & Gas Tank Container Market, By Region, 2021–2029(USD Million)
- Global Swap Body Tank Container Market, By Region, 2021–2029(USD Million)
- Global Tank Container Market, By Transport Mode, 2021–2029(USD Million)
- Global Rail Tank Container Market, By Region, 2021–2029(USD Million)
- Global Road Tank Container Market, By Region, 2021–2029(USD Million)
- Global Marine Tank Container Market, By Region, 2021–2029(USD Million)
- Global Tank Container Market, By Application, 2021–2029(USD Million)
- Global Chemical Tank Container Market, By Region, 2021–2029(USD Million)
- Global Petrochemical Tank Container Market, By Region, 2021–2029(USD Million)
- Global Food & Beverages Tank Container Market, By Region, 2021–2029(USD Million)
- Global Pharmaceuticals Tank Container Market, By Region, 2021–2029(USD Million)
- Global Industrial gas Tank Container Market, By Region, 2021–2029(USD Million)
- Global Tank Container Market, By Region, 2021–2029(USD Million)
- North America Tank Container Market, By Product Type, 2021–2029(USD Million)
- North America Tank Container Market, By Transport Mode, 2021–2029(USD Million)
- North America Tank Container Market, By Application, 2021–2029(USD Million)
- USA Tank Container Market, By Product Type, 2021–2029(USD Million)
- USA Tank Container Market, By Transport Mode, 2021–2029(USD Million)
- USA Tank Container Market, By Application, 2021–2029(USD Million)
- Canada Tank Container Market, By Product Type, 2021–2029(USD Million)
- Canada Tank Container Market, By Transport Mode, 2021–2029(USD Million)
- Canada Tank Container Market, By Application, 2021–2029(USD Million)
- Mexico Tank Container Market, By Product Type, 2021–2029(USD Million)
- Mexico Tank Container Market, By Transport Mode, 2021–2029(USD Million)
- Mexico Tank Container Market, By Application, 2021–2029(USD Million)
- Europe Tank Container Market, By Product Type, 2021–2029(USD Million)
- Europe Tank Container Market, By Transport Mode, 2021–2029(USD Million)
- Europe Tank Container Market, By Application, 2021–2029(USD Million)
- Germany Tank Container Market, By Product Type, 2021–2029(USD Million)
- Germany Tank Container Market, By Transport Mode, 2021–2029(USD Million)
- Germany Tank Container Market, By Application, 2021–2029(USD Million)
- France Tank Container Market, By Product Type, 2021–2029(USD Million)
- France Tank Container Market, By Transport Mode, 2021–2029(USD Million)
- France Tank Container Market, By Application, 2021–2029(USD Million)
- UK Tank Container Market, By Product Type, 2021–2029(USD Million)
- UK Tank Container Market, By Transport Mode, 2021–2029(USD Million)
- UK Tank Container Market, By Application, 2021–2029(USD Million)
- Italy Tank Container Market, By Product Type, 2021–2029(USD Million)
- Italy Tank Container Market, By Transport Mode, 2021–2029(USD Million)
- Italy Tank Container Market, By Application, 2021–2029(USD Million)
- Spain Tank Container Market, By Product Type, 2021–2029(USD Million)
- Spain Tank Container Market, By Transport Mode, 2021–2029(USD Million)
- Spain Tank Container Market, By Application, 2021–2029(USD Million)
- Asia Pacific Tank Container Market, By Product Type, 2021–2029(USD Million)
- Asia Pacific Tank Container Market, By Transport Mode, 2021–2029(USD Million)
- Asia Pacific Tank Container Market, By Application, 2021–2029(USD Million)
- Japan Tank Container Market, By Product Type, 2021–2029(USD Million)
- Japan Tank Container Market, By Transport Mode, 2021–2029(USD Million)
- Japan Tank Container Market, By Application, 2021–2029(USD Million)
- China Tank Container Market, By Product Type, 2021–2029(USD Million)
- China Tank Container Market, By Transport Mode, 2021–2029(USD Million)
- China Tank Container Market, By Application, 2021–2029(USD Million)
- India Tank Container Market, By Product Type, 2021–2029(USD Million)
- India Tank Container Market, By Transport Mode, 2021–2029(USD Million)
- India Tank Container Market, By Application, 2021–2029(USD Million)
- South America Tank Container Market, By Product Type, 2021–2029(USD Million)
- South America Tank Container Market, By Transport Mode, 2021–2029(USD Million)
- South America Tank Container Market, By Application, 2021–2029(USD Million)
- Brazil Tank Container Market, By Product Type, 2021–2029(USD Million)
- Brazil Tank Container Market, By Transport Mode, 2021–2029(USD Million)
- Brazil Tank Container Market, By Application, 2021–2029(USD Million)
- Middle East and Africa Tank Container Market, By Product Type, 2021–2029(USD Million)
- Middle East and Africa Tank Container Market, By Transport Mode, 2021–2029(USD Million)
- Middle East and Africa Tank Container Market, By Application, 2021–2029(USD Million)
- UAE Tank Container Market, By Product Type, 2021–2029(USD Million)
- UAE Tank Container Market, By Transport Mode, 2021–2029(USD Million)
- UAE Tank Container Market, By Application, 2021–2029(USD Million)
- South Africa Tank Container Market, By Product Type, 2021–2029(USD Million)
- South Africa Tank Container Market, By Transport Mode, 2021–2029(USD Million)
- South Africa Tank Container Market, By Application, 2021–2029(USD Million)
List of Figures
- Global Tank Container Market Segmentation
- Tank Container Market: Research Methodology
- Market Size Estimation Methodology: Bottom-Up Approach
- Market Size Estimation Methodology: Top-Down Approach
- Data Triangulation
- Porter’s Five Forces Analysis
- Value Chain Analysis
- Global Tank Container Market Attractiveness Analysis By Product Type
- Global Tank Container Market Attractiveness Analysis By Transport Mode
- Global Tank Container Market Attractiveness Analysis By Application
- Global Tank Container Market Attractiveness Analysis By Region
- Global Tank Container Market: Dynamics
- Global Tank Container Market Share By Product Type (2021 & 2029)
- Global Tank Container Market Share By Transport Mode (2021 & 2029)
- Global Tank Container Market Share By Application (2021 & 2029)
- Global Tank Container Market Share by Regions (2021 & 2029)
- Global Tank Container Market Share by Company (2020)
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