Metal Tank Manufacturing in the US
The Metal Tank Manufacturing industry has experienced some volatility over the five years to 2018. Revenue increased in the beginning of the period as exports rose and a weaker US dollar led to less import penetration. However, revenue declined in 2015 and 2016 as collapsing oil prices halted new drilling, which decreased demand for many of the industry's heavy-gauge products. In 2017, the trend reversed as the price of oil recovered, contributing to revenue growth. Over the five years to 2023, the industry is expected to continue declining, albeit at a decelerated rate. The level of imports is expected to decline, which is expected to contribute to this deceleration. Furthermore, exports' share of revenue is expected to rise, even as total export value continues to decline.
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, liquefied petroleum gas 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.
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