Long haul: Continued economic recovery will further lift demand for industry services

Over the five years to 2017, demand for the Tank and Refrigeration Trucking industry's services has increased amid improving conditions in the US economy. In particular, strong growth in US oil and gas production has overwhelmed US pipeline infrastructure, causing increasing volumes of oil, gas and related chemicals to be transported by tanker trucks. Additionally, steady increases in per capita disposable income have fueled consumer spending, stimulating demand for the transportation of manufacturing inputs, automobiles and other specialized freight. Over the five years to 2022, industry revenue is forecast to continue increasing, as increased consumer spending, rising construction activity and growing oil and gas production continue to bolster demand for industry services...purchase to read more.

Industry Statistics & Market Size
Annual Growth 12-17
Forecast Growth 17-22
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • Steady increases in per capita disposable income have fueled consumer spending, stimulating industry demand
  • Operators have experienced mounting competition from railways and cargo ships
  • Increasing construction activity will raise demand for the transportation of construction material and equipment
  • Industry Report - Industry Key Buyers Chapter

    The Tank and Refrigeration Trucking industry has a low level of market share concentration, as the industry's four largest players are estimated to account for less than 10.0% of total industry revenue in 2017. Many of the industry's largest companies subcontract owner-operators instead of expanding their own trucking fleets. For instance, Landstar System Inc. relies on nearly 9,500 independent contractors and brokers to fulfill its transportation contracts. Additionally, specialized trucking companies require little capital to begin operating, which makes it easy for new players to enter the industry and compete with established companies for market share. As a result, this industry is dominated by small-scale operators; an estimated 57.1% o...purchase to read more.

    Additional Insights for the Tank & Refrigeration Trucking Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Tank & Refrigeration Trucking Industry are

  • Optimum capacity utilization
  • Incorporation of long-term sales contracts
  • Access to the latest available and most efficient technology and techniques
  • IBISWorld analysts also discuss how external factors such as Freight transportation services index and Consumer spending in the Tank & Refrigeration Trucking industry impact industry performance..

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    What's in this report

    What is the Tank & Refrigeration Trucking Industry?

    This industry comprises operators that provide long-distance specialized transportation of cargo using trucks and trailers. The industry moves cargo that, because of size, weight, shape or other characteristics, requires specialized equipment for transportation. Companies within this industry transport items such as automobiles, gravel, sand, dirt, chemicals, frozen goods, livestock, milk and petroleum.

    Industry Products
  • Bulk liquids and gases
  • Climate-controlled packed goods
  • Automobiles
  • Dry bulk
  • Standard packed goods
  • Other transportation and value-added services
  • Industry Activities
  • Long-distance automobile carrier trucking
  • Long-distance bulk liquid trucking
  • Long-distance agricultural products trucking (including livestock)
  • Long-distance flatbed trucking
  • Long-distance gravel hauling services
  • Long-distance refrigerated and frozen products trucking
  • Long-distance garbage and waste hauling
  • Long-distance tanker trucking
  • Long-distance hazardous and non-hazardous waste hauling services
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Freight transportation services index
  • Consumer spending
  • Total trade value
  • US oil and gas production index
  • Value of construction
  • Price of diesel

  • Current Performance
  • Expansion
  • Speed bumps
  • Industry landscape
  • Chart: Revenue Growth

  • Industry Outlook
  • Renewed expansion
  • Profit and participation
  • Table: Tank & Refrigeration Trucking Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Tank & Refrigeration Trucking Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Agriculture, Forestry, Fishing and Hunting
  • Frozen Food Production
  • Dairy Product Production
  • Petrochemical Manufacturing
  • Car & Automobile Manufacturing
  • SUV & Light Truck Manufacturing
  • Wholesale Trade

  • Key Selling Industries
  • Auto Parts Wholesaling
  • Automobile Wholesaling
  • Gasoline & Petroleum Wholesaling
  • Heating & Air Conditioning Equipment Manufacturing

  • Products & Services
  • Other transportation and value-added services
  • Bulk liquids and gases
  • Climate-controlled packed goods
  • Automobiles
  • Dry bulk
  • Standard packed goods
  • Chart: Tank & Refrigeration Trucking Industry Products and Services Segmentation

  • Demand Determinants
  • Nondurable goods manufacturers
  • Petroleum refineries and chemical processors
  • Automotive manufacturers
  • Agricultural producers
  • Construction companies

  • Major Markets
  • Manufacturers
  • Retailers and wholesalers
  • Chemical and petroleum industries
  • Agriculture clients
  • Other
  • Chart: Major Market Segmentation for the Tank & Refrigeration Trucking Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Wages
  • Depreciation
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Tank & Refrigeration Trucking

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Tank & Refrigeration Trucking Industry

  • Industry Globalization
    There are no major players in this industry. This report includes analysis of other companies.
    Capital Intensity
  • Chart: Level of Capital Intensity for the Tank & Refrigeration Trucking 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 Tank & Refrigeration Trucking Industry
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • US oil and gas production index (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
  • A strategy to improve profitability by reducing inventory and purchasing the raw materials that are needed for the immediate term only.
  • North American Free Trade Agreement (Nafta)
  • A duty-free agreement signed by the governments of Canada, Mexico and the United States, creating a trilateral trade bloc across North America.
  • Reefer
  • Industry term used to describe any climate-controlled shipping container.
  • Truckload
  • Any shipment that weighs more than 10,000 pounds.
  • What Our Customers Say

    Why buy this report?

    The Tank & Refrigeration Trucking industry market report contains data and analysis of the most influential current and future trends shaping the industry. IBISWorld’s in-depth industry market research is presented in a logical, user-friendly format, and provides growth and profit forecasts for a five-year outlook period.

    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 Tank & Refrigeration Trucking:
    • 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 Tank & Refrigeration Trucking 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 Tank & Refrigeration Trucking, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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