17-Mar-2020 | Facts and Factors
Findings from Facts and Factors report “Tank Trailers Market By Type (CO2 Semi Trailer and Specialty Trailers) and By Application (Refrigerated Gases, Liquefied Gases, Chemicals, and Others): GCCIndustry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the GCC tank trailers market in 2019 was approximately USD 28 Million. The market is expected to grow at a CAGR of 6% and is anticipated to reach around USD 42 Million by 2026.
Trailers are the unpowered vehicles used to transport goods by towing through powered vehicles. Trailers are pulled by hitches, which are further trailed by cars, trucks, traction engines, and others. There are various types of trailers such as tank trailers, enclosed trailers, dump trailers, and flatbed trailers among others. Tank trucks are large, and can be non-insulated or insulated, non-pressurized or pressurized, and designed for single or multiple loads. Today, the trailer manufacturers are integrating telematics technology in trailers to allow easy management of trailers for customers.
Browse the full “Tank Trailers Market By Type (CO2 Semi Trailer and Specialty Trailers) and By Application (Refrigerated Gases, Liquefied Gases, Chemicals, and Others): GCCIndustry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" https://www.fnfresearch.com/tank-trailers-market-by-type-co2-semi-trailer-750
Rapid urbanization, especially in developing countries of GCC, is one of the major factors driving the demand for logistics, thereby, propelling the tank trailers market. Emerging countries such as Kuwait, Oman, Qatar, and Saudi Arabia has observed the highest growth in the urban population in the historic period. The increased demand from the several end-user industries for chemicals, CO2 gases, and other products, has extended the logistical supply chains, supporting the demand for tank trailers. The rapidly growing oil & gas industry is also anticipated to drive the GCC tank trailers market.
The UAE is the seventh-largest producer of crude oil in the world and the fourth-largest petroleum liquids producer in the OPEC (Organization of the Petroleum Exporting Countries). Furthermore, the UAE holds the 7th largest gas reserve worldwide. Therefore, this is likely to increase the demand for tank trailers for importing, exporting, and transporting of these products. However, the high maintenance cost associated with tank trailers may hinder the market growth. Nevertheless, tank trailer manufacturers are increasingly manufacturing lightweight trailers in line with changing regulations in the industry. Therefore, this is projected to offer lucrative opportunities in the upcoming years.
In 2019, specialty trailers category dominated the GCC tank trailers market accounting for more than 36% of the share. Specialty trailers are largely used to transport specialty liquefied gases such as ammonia, chlorine, mercaptan, sulfur dioxide, refrigerants, and bromine. Moreover, the demand for CO2 semi-trailer is also expected to increase considerably owing to the increasing consumption of CO2 in refrigeration and cooling purposes.
Liquefied gases accounted for the significant share of the GCC tank trailers market. The rising need for tank trailers in the gas industry in countries like Oman, Kuwait, and Saudi Arabia is estimated to boost the overall market growth. Additionally, the rapid growth in the production of the chemical in GCC countries has further propelled the demand for tank trailers. It has been observed that the chemical production in GCC has expanded dramatically at a CAGR of 10.7% from 1978 to 2018.
Report Scope
Report Attribute |
Details |
Market Size in 2019 |
USD 28 Million |
Projected Market Size in 2026 |
USD 42 Million |
CAGR Growth Rate |
6% CAGR |
Base Year |
2019 |
Forecast Years |
2020-2026 |
Key Market Players |
Gorica, CDL Trailers, Al Mutlak Metal Industries, UEACO, ALMAJDOUIE Steel Industries, Al Rajhi Corporation, Juffali, Capital Manufacturing LLC, NAS Trailers, and NEXA Trailers, and Others |
Key Segment |
By Type, Application, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Some of the leading players in the global market include
Gorica, CDL Trailers, Al Mutlak Metal Industries, UEACO, ALMAJDOUIE Steel Industries, Al Rajhi Corporation, Juffali, Capital Manufacturing LLC, NAS Trailers, and NEXA Trailers among Others.
This report segments the Tank Trailers market as follows:
By Type Segmentation Analysis
- CO2 Semi Trailer
- Specialty Trailers
By Application Segmentation Analysis
- Refrigerated Gases
- Liquefied Gases
- Chemicals
- Others
By Regional Segmentation Analysis
- North America
- Europe
- Germany
- The UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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