Tank wagons, also known as tank cars, are specialized types of railroad rolling stock designed for the transportation of liquid and gaseous commodities. These vehicles play a critical role in the logistics and supply chain industries, enabling the efficient and safe movement of bulk liquids and gases over long distances.
The tank wagons market consists of sales, by entities (organizations, sole traders and partnerships), of tank wagons that are used to facilitate the bulk transport of liquids and gases from production sites to processing facilities, storage terminals and end-users. Complementary to tank wagons are other modes of bulk transport, such as pipelines, tanker trucks and ships, which serve as either alternatives or supplements, depending on the logistical requirements and geographic constraints.
The global tank wagons market was valued at $60,890.85 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 3.00%.
Strong Economic Growth In Emerging Markets
Strong economic growth in emerging markets mainly drove the tank wagons market during the historic period. Emerging markets undergoing robust economic growth frequently allocate substantial investments toward infrastructure development, particularly in the expansion and modernization of their rail networks. Enhanced rail infrastructure facilitates the efficient movement of goods, including those necessitating the use of tank wagons. For instance, according to the World Bank, China's gross domestic product (GDP) grew to $17.94 trillion (120 trillion yuan) in 2022, compared to 17.82 in 2021 and $11.06 trillion in 2015. Additionally, according to the Minister for Finance and Corporate Affairs, India's gross domestic product (GDP) grew by between 8% and 8.5% in 2022-2023 and 9.2% in 2021-2022. Therefore, strong economic growth in emerging markets contributed to the growth of the tank wagons market.
Introduction Of Specialized Tank Wagons For Light Liquid Transportation
Major companies are focusing on tank wagons designed for transporting light liquids and petroleum, which signifies a crucial development in the logistics and transportation industries. These specialized wagons are engineered with precision, to ensure the safe and efficient movement of volatile and valuable liquids, such as petroleum products and other light liquids, across vast distances. For instance, in November 2022, Nymwag CS, a Czech Republic-based freight wagon manufacturer, that includes tank wagons, announced the delivery of 60 tank wagons to D Cargo. These tank wagons are specifically designed for the transportation of low-density liquids, boasting a volumetric capacity of 98 cubic meters. They feature a Y25LSD chassis and adhere to key European regulatory standards, including the Technical Specification for Interoperability for Wagons (TSI WAG), the General Contract for Use (GCU) and the Union International des Chemins de Fer (UIC) specifications.
The global tank wagons market is fairly fragmented, with a large number of companies operating in the market. The top ten competitors in the market made up to 24.88% of the total market in 2023.
Tank Wagons Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global tank wagons market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for tank wagons? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The tank wagons market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider tank wagons market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by tank pressure type, by protection type and application.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the tank wagons market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by tank pressure type, by protection type and application in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for tank wagons providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Tank Pressure Type: Pressurized Railroad Tank Car; General Purpose Or Non-Pressurized Tank Car
- 2) By Protection Type: Insulated; Non-Insulated
- 3) By Application: Crude Oil; Ethanol; Liquefied Gases; Biofuels; Milk; Chemicals; Other Applications
- Companies Mentioned: Alstom; CRRC Corporation Limited; Transmashholding (TMH); Greenbrier Companies; Trinity Industries Inc.
- Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; tank wagons indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.