Metal Tank Manufacturing in Canada
Operators in the Metal Tank Manufacturing industry in Canada design, manufacture and at times install metal tanks that store various materials, including grain, dairy, oil, gas, chemicals and water. Industry revenue has declined over the five years to 2019 largely due to plummeting commodity input prices and a contraction in industrial investment, both of which have consequently reduced demand for industry products. Operators in this industry have recently had to contend with increasing levels of import competition, in addition to the broader implications of this trend that can influence downstream activity. While the past five years have been tough for operators, the industry is expected to slowly recover in the coming years. Industry profit margins are expected to remain stable, with climbing crop, oil, industrial and chemical production expected to increase demand for industry products.
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.
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