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Bulk Fuel Tanks Market: Introduction

  • A bulk fuel tank is a large capacity safe container used to store different types of fuel such as flammable gas, engine oils, chemicals, and several other hydraulic fluids. It may be fixed on site, or on the ground, or on different sources of mobility such as marine vessels, railways, airways, and roadways.
  • Bulk fuel tanks are made of different types of materials - metallic, polyethylene, concrete, thermoplastic, and fiberglass. Increasing dependence of industrials sectors on different sources of fuel is likely to generate demand for bulk fuel tanks.

Rapid Growth in Industrial Sector: A Key Driver

  • In recent years, rapid growth in numerous industrial sectors across the globe has led to demand for bulk fuel tanks. Fuel plays a vital role in improving the global economy. Increasing dependence of the industrial sector on fuel to perform overall operations may generate demand for bulk fuel tanks. It helps prevent the risk associated with external conditions, enhances or maintains shelf life of fuel, and is a suitable option for mobility of fuel from place to place. This drives the growth of the bulk fuel tanks market.

Economic Slowdown: A Key Restraint

  • Several countries imposing lockdown due to impact of the COVID-19 pandemic has drastically affected the oil & gas industry. This may hinder the growth of the bulk fuel tanks market across the globe. This factor is expected to slow down the market growth. Worldwide slowdown in crude oil production and mobility due to stringent restrictions imposed on the oil & gas sector in order to enhance employee safety and maintain social distancing has restricted the growth of the bulk fuel tanks market. In addition, lack of resources for maintenance, production, and fabrication of tanks has also resulted in major challenges in the growth of the bulk fuel tanks market during the pandemic situation.

Asia Pacific a Potential Market for Bulk Fuel Tanks

  • The global bulk fuel tanks market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA)
  • North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the bulk fuel tanks market in Europe includes the U.K., Germany, France, and Rest of Europe. Similarly, the market in Asia Pacific comprises India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes GCC, South Africa, and Rest of Middle East & Africa. The bulk fuel tanks market in South America has been segmented into Brazil and Rest of South America.
  • Asia Pacific is expected to remain a potential market for the growth of bulk fuel tanks during the forecast period due to continuous growth of fuel supply in emerging and developed countries across the region.

Key Players Operating in the Global Bulk Fuel Tanks Market

The global bulk fuel tanks market is consolidated in nature, due to presence of limited players across the globe. Key players adopt new product development, acquisitions, mergers, and agreements as their key development strategy to remain competitive and enhance their customer base in the market.

A few of the key players operating in the global bulk fuel tanks market are as follows:

  • Ag Growth International
  • Buckeye Partners, L.P.
  • Jake’s Inc.
  • Koninklijke Vopak NV
  • McDermott International, Ltd.
  • Oiltanking GmbH
  • Shawcor Ltd.
  • Southern Tank & Manufacturing, Inc.
  • Steel Tank and Fabricating Corp.
  • TrueNorth Steel
  • Vitol Tank Terminals International BV (VTTI)
  • Western Global
  • Westmor Industries

Global Bulk Fuel Tanks Market: Research Scope

Global Bulk Fuel Tanks Market, by Type

  • Vertical
  • Horizontal

Global Bulk Fuel Tanks Market, by Installation

  • Aboveground Tanks
  • Underground Tanks

Global Bulk Fuel Tanks Market, by Mobility

  • Stationary
  • Mobile

Global Bulk Fuel Tanks Market, by Capacity

  • Below 5000g
  • 5000-15,000g
  • 15,000-25,000g
  • 25,000-35,000g
  • 35,000-45,000g
  • Above 45,000g

Global Bulk Fuel Tanks Market, by Application

  • Gasoline
  • Kerosene
  • Diesel
  • BioDiesel
  • Alcohol
  • Others (Waste Oil,Ethanol, etc.)

The report on the global bulk fuel tanks market is a compilation of first-hand information, qualitative and quantitative assessment by market analysts, and inputs from market experts and market participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness of each segment. The report also maps the qualitative impact of various factors on regional and other segments of the market.

Regional Analysis of the Global Bulk Fuel Tanks Market:

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa (MEA)
  • South America

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Bulk Fuel Tanks Market