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

Industry growth has been constrained by shocks to the price of crude oil, which have limited the ability of operators to generate revenue through fuel surcharges. Ultimately, over the five years to 2018, industry revenue is expected to grow at an annualized rate of 1.9% to $44.5 billion, including an expected increase of 4.8% in 2018. Over the five years to 2023, industry revenue is forecast to increase at an annualized rate of 2.6% to $50.7 billion 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
Revenue
$45bn
Annual Growth 13-18
1.9%
Forecast Growth 18-23
Profit
Employment
192,797
Businesses
20,709
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
  • Industry Report - Industry Analysis Chapter

    The Tank and Refrigeration Trucking industry has had a bumpy ride over the five years to 2018. Operators in this industry primarily transport niche goods such as automobiles, oil, coal, iron ores, gases, frozen food, heavy machinery and other freight that cannot be transported via standard box trailers. As a result, the industry is highly sensitive to changes in overall consumer spending and industrial activity. The industry has benefited during the five-year period from positive US economic conditions, which have encouraged consumers to spend more on commercial goods and stimulated production and construction activity among the industry’s major downstream clients. Mor...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 Price of diesel 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 & gases
  • Climate-controlled packed goods
  • Automobiles
  • Dry bulk
  • Waste
  • Livestock
  • 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
  • Price of diesel
  • Total trade value
  • US oil and gas production index
  • Consumer spending
  • Consumer price index

  • 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 & gases
  • Climate-controlled packed goods
  • Automobiles
  • Dry bulk
  • Waste
  • Livestock
  • 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 and fuel industries
  • Food and 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
    ProfitPurchasesWagesDepreciationOther
  • 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
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • World price of crude oil (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
    Just-In-Time
  • 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?

    IBISWorld’s Industry Market Report on Tank & Refrigeration Trucking 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 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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