Industry revenue has declined over the past five years, due in part to weather conditions that reduced crop production, declining commodity input prices and a contraction in industrial investment, all of which have reduced demand for industry products. Operators in this industry have recently had to compete with strong import competition and deal with broader natural implications that influence downstream activity. While the recent past has been tough for operators, the industry is expected to slowly recover in the coming years. Over the five years to 2023, industry revenue is expected to increase. Climbing crop, oil, industrial and chemical production are expected to increase demand for industry products. Moreover, a rising global population will increase the need for better oil and crop storage solutions, including metal tanks, boosting industry exports.
This industry manufactures metal tanks, vessels and other containers by cutting, forming and joining heavy gauge metals. Products include acetylene cylinders, cryogenic tanks, farm storage tanks, fermentation tanks, gas storage tanks, liquefied petroleum gas cylinders, oil storage tanks, septic tanks, storage tanks, water tanks and vats.
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.