Tank container is specific type of container, used to transport hazardous & non-hazardous materials. It is a stainless steel container that is closed by insulation and protected with a layer of polyurethane and aluminum. Standard tank container comprises of a manhole, and one valve on the top & one at the bottom. The tank container is loaded and unloaded by connecting hoses to the tank valves and is usually done by pumps. The selection of loading & unloading of the tank container depends on the installation & regulation of products it contains. Tank containers are usually used in the transportation and handling of liquid products like oil, chemicals, and liquid food products.
As per analysis, Global Tank Container Shipping Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026 (Based on 2020 COVID-19 Worldwide Spread). Some of the key companies operating in the global tank container shipping market include Stolt-Nielsen Limited (SNL), Den Hartogh Logistics, HOYER Group, Bulkhaul, NewPort and among others. These players are focusing on joint venture & acquisitions in order to maintain their leading positions in the global tank container shipping market. Additionally, players are focused on providing high quality services in order to keep their customer base. A large number of tank container operators as well as companies around the world offer various services. Large companies usually offer a wide range of services while smaller companies can offer services in a specific region or with a type of tank.
Based on types, tank container shipping market can be segregated as fruit juices, chemicals, gases, wines & spirits, sweet oils, fuels, toxic substances and others. In addition, based on applications, market can be segregated as petroleum, oil & gas, chemicals and others. Oil & gas segment is predicted to exhibit considerable growth rate due to rise in demand and supply of hydrocarbons and oil & gas during the forecast period.
Rise in use of fleet management systems, followed by low price, disadvantages of pipeline transportation, and rise in demand from oil & gas industry are some major factors, which are responsible for growth of the tank container shipping market. The demand for oil & gas has increased considerably across the world due to increase in use of natural gas for power generation and rise in demand for petroleum products across the world. As a result, investments in the tank container shipping are increasing rapidly. This is anticipated to drive the global expansion of the tank container shipping market. Apart from this, high initial costs and on-going maintenance expenses may impact the market. Moreover, difficult to transport under slack (partially full) conditions, is a major challenge for global market. Furthermore, growth of intermodal shipping transportation is a key trend or global market.
Based on regional analysis, the Europe region dominates the global tank container shipping market owing to growth in oil & gas industry across the region. The Asia-Pacific and North-America regions are anticipated to witness higher growth rate due to growth in technological innovations & technical breakthroughs over the forecast period.
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Global Tank Container Shipping Market
Related Reports:-
Global Tank Container Shipping Industry Market Research Report
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