Patched breach: A spike in demand from downstream industries will temper revenue declines

The Metal Tank Manufacturing industry has experienced some volatility over the five years to 2018. Revenue increased in the beginning of the period as exports rose and a weaker US dollar led to less import penetration. However, revenue declined in 2015 and 2016 as collapsing oil prices halted new drilling, which decreased demand for many of the industry's heavy-gauge products. In 2017, the trend reversed as the price of oil recovered, contributing to revenue growth. Over the five years to 2023, the industry is expected to continue declining, albeit at a decelerated rate. The level of imports is expected to decline, which is expected to contribute to this deceleration. Furthermore, exports' share of revenue is expected to rise, even as total export value continues to decline...purchase to read more.

Industry Statistics & Market Size
Revenue
$8bn
Annual Growth 13-18
-4.1%
Forecast Growth 18-23
Profit
Employment
34,258
Businesses
725

Industry Threats & Opportunities

  • Revenue declined as collapsing oil prices halted new drilling, which decreased demand for industry products
  • US manufacturers, unlike their foreign counterparts, can offer custom-fabricated metal tanks and vessels
  • Industrial manufacturing markets are expected to experience solid cyclical expansion over the next five years
  • Industry Report - Industry Locations Chapter

    IBISWorld estimates that in 2018, the Metal Tank Manufacturing industry will be most concentrated in the Southeast, Southwest and Great Lakes regions of the United States, due to these regions' proximity to major manufacturing industries and population centers. These regions will account for a combined total of 63.4% of industry establishments.The concentration of metal tank manufacturers in the Southwest region (23.7%) is largely due to Texas's dominance in the industry. Texas has the second-largest economy in the country, largely accounting for the high proportion of players in the Southwest region. Tex...purchase to read more.

    Additional Insights for the Metal Tank Manufacturing Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Metal Tank Manufacturing Industry are

  • Ability to vary services to suit different needs
  • Provision of superior after sales service
  • Having a diverse range of clients
  • IBISWorld analysts also discuss how external factors such as World price of steel and Demand from dairy farms in the Metal Tank Manufacturing industry impact industry performance..

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    What's in this report

    What is the Metal Tank Manufacturing Industry?

    Operators in this industry manufacture tanks, vessels and other containers by cutting, forming and joining heavy-gauge metals. Industry products include acetylene cylinders, cryogenic tanks, farm storage tanks, fermentation tanks, gas storage tanks, liquefied petroleum gas cylinders, oil storage tanks, septic tanks, storage tanks, water tanks and vats. Industry operators may also provide valued-added services such as installation and product design.

    Industry Products
  • Metal tanks and vessels (custom-fabricated and field-erected)
  • Pressure tanks
  • Gas cylinders
  • Metal tanks and vessels (custom-fabricated at the factory)
  • Metal storage tanks
  • Pressure tanks (24 in/more out. diameter)
  • Industry Activities
  • Manufacturing light gauge metal tanks and vessels
  • Manufacturing gas cylinders
  • Manufacturing heavy gauge metal tanks
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • World price of steel
  • Demand from dairy farms
  • Demand from heavy engineering construction
  • Demand from petrochemical manufacturing
  • Trade-weighted index

  • Current Performance
  • Fluctuating demand
  • Global advantage
  • Industry structure
  • Chart: Revenue Growth

  • Industry Outlook
  • Major markets
  • Industry trends
  • Table: Metal Tank Manufacturing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Metal Tank Manufacturing Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Heavy Engineering Construction
  • Dairy Product Production
  • Breweries
  • Wineries
  • Distilleries
  • Petroleum Refining
  • Petrochemical Manufacturing
  • Oxygen & Hydrogen Gas Manufacturing
  • Farm Product Storage & Warehousing
  • Specialized Storage & Warehousing

  • Key Selling Industries
  • Aluminum Manufacturing
  • Copper Rolling, Drawing & Extruding
  • Metal Pipe & Tube Manufacturing
  • Nonferrous Metal Refining
  • Petrochemical Manufacturing
  • Power Tools & Other General Purpose Machinery Manufacturing
  • Steel Rolling & Drawing

  • Products & Services
  • Pressure tanks
  • Metal tanks and vessels (custom-fabricated and field-erected)
  • Metal tanks and vessels (custom-fabricated at the factory)
  • Metal storage tanks
  • Pressure tanks (24 in/more out. diameter)
  • Other
  • Gas cylinders
  • Chart: Metal Tank Manufacturing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Industrial manufacturers
  • Petrochemical manufacturers
  • Biomedical manufacturers
  • Exports
  • Chart: Major Market Segmentation for the Metal Tank Manufacturing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profitability
  • Purchases
  • Labor costs
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Metal Tank Manufacturing

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Metal Tank Manufacturing Industry

  • Industry Globalization
    Worthington Industries Inc., Chart Industries, Trinity Industries Inc.,
  • Table: Worthington Industries Inc. - financial performance
  • Table: Chart Industries - financial performance
  • Table: Trinity Industries Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Metal Tank Manufacturing Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Metal Tank Manufacturing Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Exports (2009-2023)
  • Imports (2009-2023)
  • Wages (2009-2023)
  • Price of steel (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
    Computer-Aided Design (Cad)
  • The use of computer technology to aid the design and drafting of a part or product using software tools that can create two-dimensional drawings or three-dimensional models.
  • Offshore
  • The transfer of manufacturing operations to another country, regardless of whether the work is outsourced or stays within the corporation or company.
  • Original Equipment Manufacturer (Oem)
  • A company that manufactures products or components that are purchased by a company and retailed under the purchasing company's brand name.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Industry Market Report on Metal Tank Manufacturing is a comprehensive guide to market size and growth prospects. Ensure due diligence in your research with our strategic analysis of the factors influencing companies, including new product developments; economic, lifestyle and demographic influences; distribution and supply chain factors; and pricing issues.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Metal Tank Manufacturing:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Metal Tank Manufacturing market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Metal Tank Manufacturing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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