Home / Automotive & Transportation / Oil Tank Truck Market: Growth, Future Prospects & Competitive Analysis, 2018 - 2026

Oil Tank Truck Market: Growth, Future Prospects & Competitive Analysis, 2018 - 2026

Overview:

Tank trucks are majorly used for bulk liquid transportation. Tank trucks are utilized by oil refineries and oil trading companies to safely deliver oil and petroleum products to the distribution point. Tank trucks have capacity to carry wide range of liquids and may act as an interface between two different modes of transport. Thus, it plays a vital role in transporting oil from production areas to rail terminals and pipelines.

Increasing demand for crude oil and subsequent rise in oil production has triggered the need for reliable transportation. While small capacity oil tank trucks are logistically ideal for short distances, medium and large capacity tank trucks are economically viable for long hauls. Majority of oil trade cross borders take place through medium and large capacity oil tank trucks. For instance, several oil companies in Canada are using large capacity tank trucks for transporting oil to different states in the U. S. Growth in the overall oil & gas industry worldwide has increased the tank truck freight. The crude oil transportation to coastal refineries was carried out through oceangoing tankers and pipelines till recently. However, increasing demand and rise in crude oil production has provoked the need for transportation capacity expansion. Thus, several oil companies are expanding their oil tank truck fleets, leading to fresh oil tank trucks demand.

In addition, stringent regulations related to transportation, loading, and unloading of petroleum and chemical products is expected to fuel the demand for oil tanker trucks that need to comply with mandatory transportation requirements. For instance, US Department of Transportation (DOT) and the American Society of Mechanical Engineers (ASME) have introduced some codes and mandatory specifications for transportation of hazardous liquid tank bodies including DOT406, DOT407, DOT412 and MC331. Furthermore, as the demand for crude oil is increasing and as more oil reserves are being developed and discovered in the Middle East, and Latin America, need for more oil tank trucks is growing at an incremental rate.

The global oil tank truck market is segmented on the following bases:

  • Capacity
    • Small (Less than 3000 gallons)
    • Medium (3000 – 8000 gallons)
    • Large (Above 8000 gallons)
  • Material Type
    • Aluminum Tank Truck
    • Stainless Steel Tank Truck
  • Application
    • Crude Oil Transportation
    • Diesel Transportation
    • Gasoline Transportation
  • Geography
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Rest of Europe
    • Asia-Pacific
      • Japan
      • China
      • India
      • Rest of Asia Pacific
    • Rest of World
      • Middle East & Africa
      • Latin America

Key Players Identified for Oil tank truck Market Include but are Not Limited to:

Amthor International, Paragon Enterprises LLC, Oilmen’s Equipment Corporation, Dongfeng.Su, Mann Tek, CSCTRUCK, Foton Motor Inc., FAW Group Corporation, Sinotruk Limited, ISUZU Motors Limited, and JSGS Company Ltd.

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