Tank Wagons Market Value and Volume with Status and Growth 2021 to 2030: American Railcar Industries Inc., GATX, National Steel Car, The Greenbrier Companies, Trinity Industries Inc.

Global Tank Wagons Market 2021 research report offers qualitative and quantitative insights in relation to industry growth rate, market segmentation, Tank Wagons market size, demand and revenue. The current Tank Wagons market trends that are expected to influence the future prospects of the industry are analyzed in the report. The report further investigates and assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the market.

The global tank wagons market is expected to grow from $62.59 billion in 2020 to $68.74 billion in 2021 at a compound annual growth rate (CAGR) of 9.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $88.55 billion in 2025 at a CAGR of 6.5%.

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Scope of this Report:

By Tank Pressure Type: Pressurized Railraod tank car; General Purpose or Non-Pressurized tank car2) By Protection Type: Insulated; Non-insulated3) By Application: Crude Oil; Ethanol; Liquefied Gases; Bio Fuels; Milk; Chemicals; Others
Companies Mentioned: American Railcar Industries Inc.; GATX; National Steel Car; The Greenbrier Companies; Trinity Industries Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

Industry News:

In July 2019, Greenbrier, a US-based railroad transportation company, announced the acquisition of American Railcar Industries manufacturing business for $430 million. The acquisition is expected to enable Greenbrier to provide customers not only with direct sales or leasing options but also with after-market services and also to help customers seeking tank cars and covered hoppers. American Railcar Industries is a US-based company that manufactures railroad rolling stock.

Regional Analysis:

in June 2020, in Andhra Pradesh, a state in India, tank wagons carrying oil got derailed due to high speed and caught fire which caused huge combustion of the oil. In February 2020, in Canada, a train with 19 wagons carrying dangerous goods got derailed due to high speed causing an explosive fire. This led to the imposition of trains carrying hazardous goods. Thus, a rise in accidents is hampering the revenues generated for the tank wagons market.

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Executive Summary:

The launch of the internet of things (IoT) to fast-track the safety and compliance of the rail tanks have created immense demand in the tank wagons market. The Internet of Things (IoT) empowers rail administrators to use internet-connected communication devices installed across infrastructure and rolling stock to increase safety. For instance, in August 2018, Tata Consultancy Services has planned out a series of IoT-based apps to improve the safety of the increasing volumes of crude oil being transported by rail in North America. These apps will maintain a record of activities and will provide real-time operating conditions such as speed restrictions. In 2018, the Association of American Railroads (AAR) certified the TransRail Innovation Groups (TRIG) XLOAD sensor to measure and track dangerous commodities being transported by tank cars. Moreover, there are many apps such as the safety lock app, terminal automation app, and anti-roll-away apps rolled out by TCS to digitalize the tank wagons.

Increased demand for liquid and gases as a raw material in residential and petrochemicals sectors that use railways as one of the modes of transportation is contributing to the growth of the tank wagon market. This upswing in need is due to lockdown and ban on traveling which has happened worldwide. For instance, according to the Facts Global Energy (FGE) data, India is expected to buy 15.8 million tons of LPG from abroad in 2020 year which is 9% more than in 2019. Furthermore, FGE has also estimated that the Asia region will buy 67-69.5 million tons of gas from abroad in 2020, which will be 1-3% more than that of 2019. Due increase in need of PPE kits and cooking at home is causing a rise in demand for liquid and gas which is fulfilled with help of tank wagons to carry tons of these materials, thus driving the tank wagon market.

Regional Analysis For Tank Wagons Market:

North America (The United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

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– Detailed overview of Market

– Changing market dynamics of the industry

– In-depth market segmentation by Type, Application etc.

– Historical, current and projected market size in terms of volume and value

– Recent industry trends and developments

– Competitive landscape of Market

– Strategies of key players and product offerings

– Potential and niche segments/regions exhibiting promising growth

The research includes historic data from 2015 to 2021 and forecasts until 2030 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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