A report by ARC estimated that the mobile tanks market will surpass $809 million by 2026, representing an average annual growth rate of 4 percent from 2019 to 2026. Infrastructural development activities are taking places across the globe and government is focusing on development of outskirts region. Continuous construction activities are carried out in order to bridge this development gap and mobile tanks as expected to be more cost effective transportation solution for carrying of fuel, oil, and water to various remote areas.
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The mobile tanks are used to transfer oil & gas, water and other material from one place to another. Mobile tanks are very helpful in transportation of water to places were the land is challenging. Mostly the mobile tanks are used to transport water to remote locations. Mobile liquid tanks are more capable for offsite locations where activities only last for a short period of time.
Major factors expected to drive the growth of the global mobile tanks market are rising development activities in developed and developing countries, growing water demand, coupled with government approach towards providing water to remote places. In addition, developing oil & gas sector in developing countries, along with adoption of mobile tanks for transportation of fuel to where there is limited access to places due to challenging land is another factor expected to boost the growth of the global market.
Moreover, deployment of mobile tank feet by manufactures in order to transfer chemical and fuel at various in house stations and across various industry verticals is another factor expected to further support the growth of the target market to a certain extent.
However, high cost associated to manufacturing and maintenance of tanks is a major factor expected to hamper the growth of the global mobile tanks market. In addition, limited carrying capacity is expected to limit the adoption thus challenging the growth of the target market.
Technological advancements in development of more advanced tanks material is expected to create new opportunities in terms of revenue for players operating in the target market over the forecast period. In addition, business development activities in order to increase customer base is expected to further revenue support the growth of the target market.
The global mobile tanks market is segmented into material type, and region. The regional market is further bifurcated into North America, Europe, Asia Pacific, Latin America, and Middle East. The market in North America is expected to contribute a major revenue share in 2018. This can be attributed to rising demand from chemical industry. Flourishing chemical sector, increasing spending smart transportation solution is resulting in growing demand for mobile water tanks. In addition, increasing presence of major manufacturers, coupled with introduction of new products with better quality is expected to boost the growth of the target market in this region.
The Asia Pacific is expected to witness faster growth, owing to developing economic situation, high spending on oil & gas sector, coupled with introduction of mobile tanks by manufacturers in order to carry oil & gas to remote locations. In addition, rising offsite construction and development activities coupled with approach towards increasing efficiency by deploying mobile tanks on these locations is expected to further boost the growth of target market in this region. Increasing merger and acquisition activities in order to expand business is another factor expected to support the target market growth in this region.
The mobile tanks market in segmented in to material type and application. The material type segment is bifurcated into Carbon Steel, High-Density Polyethylene (HDPE), and Stainless Steel. The stainless steel segment is expected to account for significant revenue share as compared to other product segment. This can be attributed to increasing demand from water industry and oil & gas industry. Stainless steel tanks are majorly used to transport water, fuel oil, chemicals and as do not react with the liquid in the tank.
The global mobile tanks market was valued at around US$ 580 Mn in 2018. Among the material type segment the High-Density Polyethylene (HDPE) segment is expected to contribute significant revenue shares in the market globally.
The profiles of the leading players are done with the analyzing of the Porter’s Five Force model and SWOT analysis to understand the competitive landscape in the mobile tanks market. The study also encompasses market attractiveness, wherein the services are benchmarked based on market share, market size, and growth rate.
Some of the major players operating in the global mobile tanks market are Generac, Abi Attachments, GEI Works, Pro Tank & Equipment, Wastecorp Pump, Gas- Safe-T-Tank, Hill Welding, Transcube, Western Global, and Central Plains Ind. The market players are focused on the introduction of more advanced products at low cost in order to expand the product portfolio and attract new customers.
Market Segment Analysis:
Acumen Research report focuses on market attractiveness by assessing the key market segments. The report also combines region-wise segments for a better understanding of the supply and demand ratio of the global mobile tanks market. This exclusive study of the report analyzes the present and future market scenario and the industry trends that are influencing the growth of the segments. Besides, the report also covers the value chain analysis, supply chain analysis, and year-on-year basis analysis of the global mobile tanks market.
Market By Material Type:
- Carbon Steel
- High-Density Polyethylene (HDPE)
- Stainless Steel
Market By End Use:
- Oil & Gas
Market Regional Analysis:
Based on the regions, the global mobile tanks market is segmented into -North America (US and Canada), Europe (UK, Germany, France, Spain and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea and Rest of Asia-Pacific), Latin America (Mexico, Brazil and Rest of Latin America), Middle East & Africa (GCC, South Africa and Rest of MEA)
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There are 3 types of Mobile Tanks Market, They are followings-
- Carbon Steel
- High-Density Polyethylene (HDPE)
- Stainless Steel
The major companies operating in the global mobile tanks market are Generac, Abi Attachments, GEI Works, Pro Tank & Equipment, Wastecorp Pump, Gas- Safe-T-Tank, Hill Welding, Transcube, Western Global, and Central Plains Ind.
According to the ARC, The value of the mobile tanks market was US$ 580 Mn in 2018.
According to the ARC, The global mobile tanks market value is expected to reach around US$ 809 million by 2026.
The Mobile Tanks Market projected to grow at a CAGR of 4% during the forecast time frame 2019 to 2026.