Boiler and Tank Manufacturing in Australia - Industry Market Research Report

Boiler and Tank Manufacturing in Australia - Industry Market Research Report

Boiler and Tank Manufacturing in Australia

Australian boiler and tank manufacturers provide products to customers across various sectors, including agricultural, construction, manufacturing and mining firms. Demand from commercial and industrial building construction has remained consistent over time, and climbing demand from food product manufacturing, grain growing and mining have supported the industry. Despite these trends, challenging operating conditions have begun to cut into manufacturers' performance. Demand from grain growing has fallen because of a drop in rainfall, reducing firms' need for tanks for storage. Mining division activity has also taken a hit, and combined reduced demand from the current year has caused boiler and tank manufacturers to struggle. High input prices have compounded the difficulties that companies have faced – supply chain disruptions and shortages in the COVID-19 outbreak's aftermath have elevated the domestic price of iron and steel, making key inputs more expensive for manufacturers. Weak demand is limiting manufacturers' ability to pass on these costs to downstream customers, cutting into their profit margins. Overall, revenue is expected to drop at an annualised 1.1% to an estimated $1.2 billion over the five years through 2023-24. Large falls in demand from mining, grain growing, and petroleum and coal product manufacturing have also contributed to a drop in revenue of an expected 11.4% in 2023-24.

Firms in the industry use heavy-gauge metals to manufacture metal boiler and tank products, like steam boilers, pressure tanks, storage tanks and other metal containers. A variety of downstream industries use these products, particularly in the manufacturing, construction and agriculture sectors.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares. Show more