Tanker Truck Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024

Description

The Global Tanker Truck Market was valued at USD 131.6 billion in 2023 and is expected to grow at a CAGR of 4.7% between 2024 and 2032. The rising demand for chemicals and fuels across industries is a major factor driving market expansion. Key sectors rely on tanker trucks for the safe and efficient transport of bulk liquids, including chemicals and fuels. As industrial activities increase globally, particularly in emerging markets, the need for specialized tanker trucks to transport hazardous and non-hazardous materials is on the rise. In addition, growth in petrochemical production and the rising energy demand are contributing to an intensified need for fuel distribution logistics, further supporting the tanker truck market.

Strict regulations on safe transportation also boost demand for modern, compliant tanker trucks with advanced safety features. The growing urban population is another major driver of market growth. Increasing urbanization, especially in developing cities, is leading to higher demand for essential resources such as water, fuel, and construction materials, all of which are frequently transported via tanker trucks. The rapid expansion of urban infrastructure further elevates the need for reliable transportation services to meet the requirements of growing cities.

This includes the movement of large quantities of materials for construction projects, municipal water supply, and fuel needs. As industrial and urban development continues to accelerate, the demand for efficient tanker truck services is expected to grow accordingly. In terms of capacity, the market is segmented into four categories: less than 1,000 gallons, 1,000 to 5,000 gallons, 5,000 to 10,000 gallons, and more than 10,000 gallons. The 5,000 to 10,000 gallons segment held the largest market share in 2023, accounting for over 33% and projected to surpass USD 67.5 billion by 2032. This size range offers an ideal balance between load capacity and operational efficiency, making it highly popular across multiple industries.When categorized by propulsion, diesel-powered tanker trucks continue to dominate the market, accounting for 68% of the share in 2023. Diesel engines are favored for their power and fuel efficiency, especially for long-haul transport tasks. The North American market accounted for over 33% of the global share in 2023, with an expected valuation of USD 66 billion by 2032, supported by advanced infrastructure and growing fuel transportation needs.

Market Scope
Start Year	2023
Forecast Year	2024-2032
Start Value	$131.6 Billion
Forecast Value	$196.4 Billion
CAGR	4.7%

Product Code: 11444

Chapter 1 Methodology & Scope

1.1 Research design
- 1.1.1 Research approach
- 1.1.2 Data collection methods
1.2 Base estimates and calculations
- 1.2.1 Base year calculation
- 1.2.2 Key trends for market estimates
1.3 Forecast model
1.4 Primary research & validation
- 1.4.1 Primary sources
- 1.4.2 Data mining sources
1.5 Market definitions

Chapter 2 Executive Summary

2.1 Industry 360° synopsis, 2021 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Supplier landscape
- 3.2.1 Manufacturers
- 3.2.2 Component suppliers
- 3.2.3 Tanker truck leasing companies
- 3.2.4 Transportation and logistics companies
- 3.2.5 End-users
3.3 Profit margin analysis
3.4 Price analysis of different tanker trucks
3.5 Technology & innovation landscape
3.6 Patent analysis
3.7 Key news & initiatives
3.8 Regulatory landscape
3.9 Impact forces
- 3.9.1 Growth drivers
  - 3.9.1.1 Increasing demand for chemicals and fuels in various industries
  - 3.9.1.2 Industrialization and economic growth across the world
  - 3.9.1.3 Advancements in tanker truck technology
  - 3.9.1.4 Rising population and urbanization in developing cities
- 3.9.2 Industry pitfalls & challenges
  - 3.9.2.1 Rising cost of fuel
  - 3.9.2.2 Shortage of qualified drivers
3.10 Growth potential analysis
3.11 Porter's analysis
3.12 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix

Chapter 5 Market Estimates & Forecast, By Capacity, 2021 - 2032 ($Bn, Units)

5.1 Key trends
5.2 Less than 1,000 gallons
5.3 1,000 to 5,000 gallons
5.4 5,000 to 10,000 gallons
5.5 More than 10,000 gallons

Chapter 6 Market Estimates & Forecast, By Propulsion, 2021 - 2032 ($Bn, Units)

6.1 Key trends
6.2 Diesel
6.3 Electric
6.4 Natural gas
6.5 Hybrid

Chapter 7 Market Estimates & Forecast, By Material, 2021 - 2032 ($Bn, Units)

7.1 Key trends
7.2 Stainless steel
7.3 Aluminum
7.4 Carbon steel
7.5 Composite

Chapter 8 Market Estimates & Forecast, By Type, 2021 - 2032 ($Bn, Units)

8.1 Key trends
8.2 Single-axle tankers
8.3 Multi-axle tankers
8.4 Articulated tankers

Chapter 9 Market Estimates & Forecast, By Application, 2021 - 2032 ($Bn, Units)

9.1 Key trends
9.2 Oil & gas
9.3 Chemicals
9.4 Food and beverages
9.5 Water
9.6 Industrial liquids
9.7 Dry bulk goods

Chapter 10 Market Estimates & Forecast, By Region, 2021 - 2032 ($Bn, Units)

10.1 Key trends
10.2 North America
- 10.2.1 U.S.
- 10.2.2 Canada
10.3 Europe
- 10.3.1 UK
- 10.3.2 Germany
- 10.3.3 France
- 10.3.4 Spain
- 10.3.5 Italy
- 10.3.6 Russia
- 10.3.7 Nordics
10.4 Asia Pacific
- 10.4.1 China
- 10.4.2 India
- 10.4.3 Japan
- 10.4.4 South Korea
- 10.4.5 ANZ
- 10.4.6 Southeast Asia
10.5 Latin America
- 10.5.1 Brazil
- 10.5.2 Mexico
- 10.5.3 Argentina
10.6 MEA
- 10.6.1 UAE
- 10.6.2 South Africa
- 10.6.3 Saudi Arabia

Chapter 11 Company Profiles

11.1 DAF Trucks N.V.
11.2 Dongfeng Motor Corporation
11.3 FAW Group Corporation
11.4 Freightliner Trucks
11.5 Hino Motors, Ltd.
11.6 Hyundai Motor Company
11.7 Isuzu Motors Limited
11.8 IVECO S.p.A.
11.9 Mack Trucks
11.10 MAN Truck & Bus AG
11.11 Mercedez (Daimler)
11.12 Mitsubishi Fuso Truck and Bus
11.13 Navistar International Corporation
11.14 Paccar Inc.
11.15 Peterbilt Motors Company
11.16 Scania AB
11.17 Sinotruk (Hong Kong) Limited
11.18 SISU Auto
11.19 Tata Motors
11.20 Volvo Trucks

Tanker Truck Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 - 2032