Dublin, Oct. 21, 2024 (GLOBE NEWSWIRE) -- The "United States Tank Trucking - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024-2029)" report has been added to ResearchAndMarkets.com's offering.

The United States Tank Trucking Market size is estimated at USD 59.69 billion in 2024, and is expected to reach USD 70.86 billion by 2029, growing at a CAGR of 3.42% during the forecast period (2024-2029).

Several factors contribute to the growth of the US tank trucking market. A stronger economy, technological advancements, and increased production and trade of gas, oil, and chemical products drive the market's expansion. Tank trucks are important in transporting goods to inaccessible areas by rail or pipeline, increasing demand. Furthermore, the slow recovery of the US construction industry and growth in healthcare infrastructure are expected to drive market growth.

Tank trucks are essential for transporting hazardous chemicals and must adhere to the United States' stringent regulations and safety standards. Operators in this sector handle a wide range of specialty items, including heavy machinery, frozen food, automobiles, and gases that cannot be transported using standard trailers. The industry's performance is closely related to fluctuations in American industrial activity and consumer spending habits.

Despite its growth potential, the sector encounters hurdles from global and domestic market uncertainties, including escalating borrowing rates, inflationary pressures, and the looming specter of a recession. The projected worldwide downturn in crude oil prices over the next five years poses a threat to the US tank trucking industry, potentially diminishing surcharges and profitability.

Despite these obstacles, the aftermath of the pandemic has expedited the expansion of the fast-moving consumer goods (FMCG) and healthcare sectors in the United States, thereby providing a boon to the tank trucking industry. While consumer spending patterns may lean toward experiences over tangible goods, the replenishment of stocks will increase freight demand, fortifying the US tank trucking sector.

U.S. Tank Trucking Market Trends

• Fuel Tank Trailers as Petroleum Carriers are Boosting the Market's Growth in the United States

• US Tank Trucking Industry Benefiting from Advanced Technologies

United States Tank Trucking Industry Overview

In the United States, there are a lot of small and medium-sized players in the tank trucking market, which makes it hard to tell who is the strongest. The market is also highly competitive. Driver scarcity or availability has a significant impact on a player's ability to generate revenue.

As technology changes the shape, size, and structure of parts, the US tank trucking business is also changing. Manufacturers are putting a lot of effort into making lightweight parts and components that are reliable and strong and help trucks work better. The US tank trucking market is growing, and new technologies like artificial intelligence are being used, which is expected to keep the market growing.

Power cars using fuel are also stored throughout the nation using tank trucks. The construction of these power car trucks is more durable and robust than that of other types of fuel tanks. Thus, these trucks are in high demand across the nation.

Some of the most important companies in the US tank trucking market are Kenan Advantage Group, Trimac Transportation Inc., Superior Bulk Logistics Inc., Martin Transport Inc., and Miller Transporters Inc.

Some other major players in the market are Dupre Logistics LLC, Foodliner/Quest Liner Inc., Ruan Transportation Management Systems, Groendyke Transport Inc., Tankstar USA, Eagle Transport Corp., Florida Rock & Tank Lines Inc., etc.

Key Topics Covered

1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET INSIGHTS
4.1 Current Market Scenario
4.2 Overview - US Trucking Industry (Analysis on Trucking Fleet, Demand, Goods Flow, and Emerging Trends)
4.3 Spotlight - Role of Transportation in the US Energy Sector
4.4 Insights on Intermodal Transport (Special Addendum on Rail Tank Transport)
4.5 Brief on Regulations and Safety
4.6 Review and Commentary on Freight Rates
4.7 Technology Snapshot - Trends and Automation
4.8 Impact of COVID-19 on the Market

5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Rise in Demand for Oil and Natural Gas
5.1.2 Technological Advancements
5.2 Market Restraints
5.2.1 Increasing Regulatory Burden and Compliance Costs
5.2.2 Volatility of Fuel Prices
5.3 Market Opportunities
5.3.1 Rising Demand for Food Grade Transportation
5.4 Value Chain/Supply Chain Analysis
5.5 Industry Attractiveness - Porter's Five Forces Analysis
5.6 PESTLE Analysis

6 MARKET SEGMENTATION
6.1 By Fleet Type
6.1.1 For-hire
6.1.2 Private
6.2 By Capacity
6.2.1 Light Duty
6.2.2 Medium Duty
6.2.3 Heavy Duty
6.3 By Product Category
6.3.1 Crude Petroleum
6.3.2 Petroleum Products (Gasoline, Diesel, and Aviation Fuels)
6.3.3 Chemicals
6.3.4 Food and Beverages
6.3.5 Fertilizers
6.3.6 Other Product Categories

7 COMPETITIVE LANDSCAPE
7.1 Market Concentration Overview
7.2 Company Profiles
7.2.1 Kenan Advantage Group
7.2.2 Trimac Transportation Inc.
7.2.3 Superior Bulk Logistics Inc.
7.2.4 Martin Transport Inc.
7.2.5 Miller Transporters Inc.
7.2.6 Foodliner/Quest Liner Inc.
7.2.7 Dupre Logistics LLC
7.2.8 Groendyke Transport Inc.
7.2.9 Ruan Transportation Management Systems
7.2.10 Eagle Transport Corp
7.2.11 Tankstar USA
7.2.12 Florida Rock & Tank Lines Inc.
7.3 Other Companies (Slay Transportation Co. Inc., Apex Logistics LLC, Mission Petroleum Carriers, Genox Transportation Inc., J&M Tank Lines Inc., CLI Transport LP, Tidewater Transit Co. Inc., Herman R Ewell Inc., Service Transport Company, Schilli Bulk Carriers Group, Andrews Logistics, and CTL Transportation LLC)

8 Future of the Market

For more information about this report visit https://www.researchandmarkets.com/r/nvda8

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