Bumpy road: Industry growth has been limited due to drops in the price of crude oil

Despite several bumps in the road, the Tank and Refrigeration Trucking industry in Canada has expanded slightly over the five years to 2019. Steady increases in consumer spending and international trade activity have created substantial opportunities for trucking companies to generate revenue by transporting goods among manufacturers, wholesalers and retailers. These trends, combined with rising trade activity between Canada and the United States, have bolstered domestic manufacturing and retail activity, generating demand for specialized trucking services. However, fuel prices remain a constant concern for industry operators. Moving forward, industry revenue will benefit from stable demand from downstream customers...read more.

Industry Statistics & Market Size
Revenue
$14bn
Annual Growth 14-19
0.3%
Forecast Growth 19-24
Profit
Employment
44,066
Businesses
11,896
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • Industry revenue will benefit from stable demand from downstream customers
  • Changes in the world price of crude oil hold major implications for the price of gasoline
  • More trucking services will be required as consumers spend more on commercial goods
  • Industry Report - Industry SWOT Analysis Chapter

    The Tank and Refrigeration Trucking industry in Canada is in the mature stage of its life cycle. Industry value added (IVA), which measures an industry’s contribution to the overall economy, is projected to grow at an annualized rate of 1.2% over the 10 years to 2024. Comparatively, Canadian GDP is expected to grow at an annualized rate of 1.7% during the same period. While the contrast between these two growth rates usually indicates that an industry is in the declining phase of its life economic cycle, other factors illustrate this industry’s ongoing maturity...purchase to read more.

    Additional Insights for the Tank & Refrigeration Trucking Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Tank & Refrigeration Trucking Industry are

  • Successful industrial relations policy
  • Access to multiskilled and flexible workforce
  • Access to the latest available and most efficient technology and techniques
  • IBISWorld analysts also discuss how external factors such as Consumer spending and Total trade value in the Tank & Refrigeration Trucking industry impact industry performance..

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    What's in this report

    What is the Tank & Refrigeration Trucking Industry?

    This industry provides long-distance trucking services for atypical cargo requiring specialized transportation. Companies in this industry transport bulk liquids, frozen goods, dry bulk materials, forest products, automobiles and other specialized freight between metropolitan areas. However, this industry does not include the transport of used goods.

    Industry Products
  • Standard packed goods
  • Dry bulk
  • Bulk liquids and gases
  • Climate-controlled packed goods
  • Live animals
  • Automobiles and light-duty trucks
  • Hazardous and nonhazardous waste
  • Industry Activities
  • Long-distance automobile carrier trucking
  • Long-distance bulk liquid trucking
  • Long-distance agricultural products trucking (including livestock)
  • Long-distance hazardous material trucking
  • Long-distance gravel hauling services
  • Long-distance refrigerated products trucking
  • Long-distance garbage hauling
  • Long-distance tanker trucking
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Consumer spending
  • Total trade value
  • Total retail sales
  • Value of nonresidential construction
  • Value of residential construction
  • World price of crude oil

  • Current Performance
  • Riding the road to recovery
  • Petroleum and profit
  • Industry participation
  • Chart: Revenue Growth

  • Industry Outlook
  • Industry growth on cruise control
  • Labour concerns
  • Growing competition
  • Table: Tank & Refrigeration Trucking Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Tank & Refrigeration Trucking Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Frozen Food Production in Canada
  • Dairy Product Production in Canada
  • Petrochemical Manufacturing in Canada
  • Car & Automobile Manufacturing in Canada
  • SUV & Light Truck Manufacturing in Canada

  • Key Selling Industries
  • Auto Parts Wholesaling in Canada
  • Automobile Wholesaling in Canada
  • Gasoline & Petroleum Wholesaling in Canada
  • Heating & Air-Conditioning Equipment Manufacturing in Canada

  • Products & Services
  • Standard packed goods
  • Dry bulk
  • Climate-controlled packed goods
  • Bulk liquids and gases
  • Automobiles and light-duty trucks
  • Live animals
  • Hazardous and nonhazardous waste
  • Chart: Tank & Refrigeration Trucking Industry Products and Services Segmentation

  • Demand Determinants
  • Nondurable goods manufacturers
  • Petroleum refineries and chemical processors
  • Automotive manufacturers
  • Agricultural producers

  • Major Markets
  • Manufacturers
  • Retailers and wholesalers
  • Chemical and petroleum processors
  • Agricultural and other clients
  • Chart: Major Market Segmentation for the Tank & Refrigeration Trucking Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesDepreciation
  • Chart: Cost Structure Benchmarking – Sector vs Tank & Refrigeration Trucking

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Tank & Refrigeration Trucking Industry

  • Industry Globalization
    There are no major players in this industry. This report includes analysis of other companies.
    Capital Intensity
  • Chart: Level of Capital Intensity for the Tank & Refrigeration Trucking Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Tank & Refrigeration Trucking Industry
    Includes:
  • Industry Revenue (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Wages (2010-2024)
  • Total trade value (2010-2024)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Intermodal
  • Internationally standardized reusable steel containers that can be moved via ship, rail and truck without unloading the contents of the container until delivery.
  • Less-Than-Truckload (Ltl)
  • Truck shipments weighing between 45 kilograms and 4,536 kilograms.
  • Reefer
  • Industry term used to describe any climate-controlled shipping container.
  • Shrinkage
  • Loss of inventory between point of manufacture and point of sale due to damages, misplacement, spoilage, theft or other forms of human error.
  • Truckload (Tl)
  • Truck shipments weighing more than 4,536 kilograms and generally carried in intermodal containers.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Tank & Refrigeration Trucking market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Tank & Refrigeration Trucking:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Tank & Refrigeration Trucking market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Tank & Refrigeration Trucking, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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