The Metal Tank Manufacturing industry has experienced some volatility over the five years to 2017. Revenue increased in the beginning of the period, as a weaker dollar led to less import penetration, prompting more US-based customers to purchase US-made products. However, revenue declined in 2015 and 2016 as collapsing oil prices halted new drilling, which decreased demand for industry products. The industry is expected to rebound in 2017, as demand from heavy engineering increases and the price of steel continues to rise. Industry imports are expected to continue growing over the five years to 2022, and the number of industry establishments is anticipated to climb as well, partly due to growing exports. Additionally, the price of steel is forecast to stabilize over the next five years, enabling producers to better price their products. These factors, combined with an expected increase in demand from dairy farms during the five-year period, are anticipated to lead to steady revenue growth.
Operators in this industry manufacture tanks, vessels and other containers by cutting, forming and joining heavy-gauge metals. Industry products include acetylene cylinders, cryogenic tanks, farm storage tanks, fermentation tanks, gas storage tanks, LPG cylinders, oil storage tanks, septic tanks, storage tanks, water tanks and vats. Industry operators may also provide valued-added services such as installation and product design.
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.