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Liquid Solid Container Rental Market - Evolutionary Trend to Step Ahead in Packaging Industry - Forecast 2024
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Companies are avoiding the initial investment which has to be made in order to buy these containers, as the applications in which these containers are used have varying time durations. Moreover, these operations depend on environmental conditions as well as legal constraints. Renting these containers is helping the companies to reduce the heavy initial investment and use that amount for other important business aspects.
Liquid Solid Container Rental Market: Key Drivers and Restraints
Energy exploration is the biggest driver of liquid solid container rental market. Energy sources are scarce in the world and explorations are going on regularly to enhance production. Oil and Gas industry uses containers for processes such as fracking and purification. As these explorations take place across the world, companies avoid carrying too much instruments to reduce the costs. Renting these containers helps companies in reducing the costs.
Fracking water treatment used for fracturing shale rocks by injecting fluids into the ground to release natural gas is gaining popularity worldwide. This treatment requires 1-8 million gallons of water per fracturing job. Containers are used to carry water to the site. Approximately 400 water containers are required for one particular site. Moreover, containers are used in this process to store the waste as well as the natural gas. While using these containers, government regulations must be followed related to the spills and storage of harmful ingredients. Water fracking treatment is under scrutiny as there are various complaints related to water and soil contamination from the areas nearby fracking sites. This could prove to be the restraining factor for the liquid solid container rental market in the near future.
The ever increasing construction activities worldwide are another big source of demand for the liquid solid container rental market. Construction and energy exploration are expected to see continued growth in the near future, further increasing the demand for liquid solid containers. Entry into liquid solid container rental market is easy as there are very few barriers, presenting opportunities for companies.
Liquid Solid Container Rental Market: Competitive Insight
Liquid solid container rental market is a niche market which has the potential to grow further due to easy market entry. Return on investment is the most important part in container rental market as initial cost can be recovered through the rent. High profits involved in liquid solid rental market is attracting new players. Companies are providing value added services along with renting the containers. Maintenance of these containers is extremely important as valuable ingredients are stored in them. Companies are providing maintenance services with other related services such as disposal and movement of solid waste and water. Container renting companies are trying to build international network enabling them to better serve their customers.
Major players in the storage networking market include COLUMBIA TANKS LLC, RPC Inc., Dragon Products, LTD, FMC Technologies, Inc., Halliburton Company, PCI Manufacturing, LLC, Manitex International, Schlumberger Limited, Troxell Company Inc. and Weatherford International Ltd.
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