The tanker trucks market encompasses vehicles specifically designed to transport liquids and gases in bulk. These trucks are equipped with large tank bodies that are either insulated or non-insulated, depending on the type of liquid or gas they are transporting. Tanker trucks are vital to industries such as petroleum, chemicals, food, and sanitation, as they provide a crucial means of transporting their respective commodities from manufacturing plants to different distribution points. A brief overview of the tanker trucks market indicates that it is experiencing steady growth, driven by the increasing demand for liquid and gas transportation across various sectors. The market is projected to expand at a Compound Annual Growth Rate of 5.17% over the forecast period. This growth is fueled by the rising global demand for oil and gas, coupled with stringent regulations on the transportation of hazardous materials which necessitate the use of specialized tanker trucks. Additionally, advancements in truck technology and increased focus on safety and efficiency are contributing to the expansion of the market. As industries worldwide continue to emphasize the importance of reliable and safe transport solutions for liquids and gases, the tanker trucks market is set to maintain its critical role in the global logistics and transportation landscape.

On the basis of capacity, the tanker trucks market is classified into low-duty tanker trucks, medium-duty tanker trucks, and heavy-duty tanker trucks. In the Medium-duty tanker trucks segment, we have considered tankers with a capacity between 1,000 gallons to 4,000 gallons. This type of tanker can either be operated as truck/trailer packages or as frame-carried. Medium duty truck tankers are used for the transportation of gas, fuel, and water. Medium duty trucks are accounted for the largest revenue as well as volume share compared to other types of truck categories by capacity and commonly used in oil and gas, chemical, and construction industries for transportation. The segment is also expected to witness the fastest growth with the increasing outlook of the oil and gas and construction industry.

The report also includes market estimates in terms of both revenue (US$ Bn) and volume shipment (thousand units) for each product segment. The report also includes cross-sectional market estimates at regional and country-level (e.g. North American market by product type and U.S. market by product type). This research study includes an in-depth analysis of the tanker trucks industry in the following regions and countries:

The research study on the tanker trucks market identifies key market drivers, restraints, and opportunities in the global market. The report highlights current and future market trends in the global, regional, and country-specific tanker trucks market. The study also includes an exhaustive analysis of demand-supply, technology development, and pricing trends. High-level analysis such as an attractive proposition, competitive analysis, value chain and market attractive analysis included in the report helps industry players to identify key investment areas in this industry.

The global tanker trucks market comprises a large number of multinational players. The report includes profiles of major players in the global tanker trucks industry. Each profile includes detailed information about business overview, product portfolio related to tanker trucks, major competitors, recent developments strategies and financials of the company for last three years. The report also includes detailed information regional positioning of these manufacturers. The report also provides highlights degree of competition and market winning strategies adopted by the key players to strengthen their market position in the global tanker trucks market. Some major players profiled in the global tanker truck market include Ford Motor Company, 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.

In terms of type, coded type of tanker trucks are commonly used for transportation oil and gas and chemical-related products. This segment accounted for more than one third of revenue share in 2021 and is expected to maintain its dominating position through the forecast period 2023 – 2030. The segment is expected to maintain its dominating position in the near future with increasing demand from oil and gas industry and chemical industry as well as with introduction of advanced tankers to meet loading and unloading regulations.  

In 2021, Asia Pacific accounted for the largest share, in terms of revenue and shipment of new trucks, of the global tanker trucks market. The region contributed to nearly 35% of the total market revenue generated worldwide, in 2021. The market for tanker trucks in the Asia Pacific is expected witness significant growth with the increasing trade of petroleum products in the region as well as with growing chemical industry in the region. North America is the second-largest regional market for tanker trucks followed by Europe. Stringent regulations for periodic testing of tankers and to improve the safety for transportation of dangerous oil and gas and chemical products is expected to support the growth of tanker trucks in North America and Europe. Improving outlook of construction industry also expected increase the demand for water tanker trucks globally.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Tanker Trucks market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Tanker Trucks market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Tanker Trucks market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Tanker Trucks market?
• Which is the largest regional market for Tanker Trucks market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Tanker Trucks market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Tanker Trucks market worldwide?