About Fuel Trucks
The global fuel trucks market is expected to witness a high growth in near future due to growing oil and gas industry and stringent regulations related to transportation of petroleum and chemical products. Fuel trucks are used to transport liquids and gas in large volumes. The fuel tanks come in different models because of the wide variety of liquefied loads. The internal structure of tank also varies depending on the type of liquid or gas that the trailers are designed to transport. The fuel tanks may be pressure or non-pressurized and insulated or non-insulated.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Competition among existing players is due to the Fuel Trucks market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Fuel Trucks market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that Chinese Vendors will contribute the maximum growth to Global Fuel Trucks market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Daimler AG (Germany), AB Volvo (Sweden), Sinotruk (China), KME Fuel (United States), Dongfeng Motor Corporation (China), Foton Motor (China), Oilmen’s Truck Tanks (United States), FAW Group Corporation (China), Hubei Chenglongwei Special Purpose Vehicle Co., Ltd (China) and Seneca Tank (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Zhongtong Automobile (China), Mann Tek (Sweden) and CSCTRUCK (China).
Segmentation Overview
AMA Research has segmented the market of Global Fuel Trucks market by Type (Heavy Duty Truck, Medium Duty Truck and Light Duty Truck), Application (Construction, Mining, Logistics, Oil & Gas Industry and Aerospace) and Region.
On the basis of geography, the market of Fuel Trucks has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Capacity Type, the sub-segment i.e. Less Than 1,000 Gallons will boost the Fuel Trucks market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Fuel Type, the sub-segment i.e. Gasoline will boost the Fuel Trucks market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Demand from Construction Industry
Market Growth Drivers:
Growing Oil and Gas Industry and Stringent Regulations Related To Transportation of Petroleum and Chemical Products
Challenges:
It Requires Constant Maintenance
Restraints:
High Transportation Cost Associated With Fuel Trucks
Opportunities:
Rising Demand from Developing Countries
Market Leaders and their expansionary development strategies
In September 2023, TFI International, has acquired Vedder Transportation Group, a tanker truck transporter of food-grade liquids and dry bulk commodities with 155 power units and 300 tanker trailers. Vedder is based in Abbotsford, British Columbia. The acquisition helps TFI establish a Canadian coast-to-coast food-grade tanker truck network, according to Alain Bedard, TFI International’s chairman, president and CEO.
In Jul 2019 - FAW Group Corporation (FAW) signed a strategic cooperation agreement with JD.com, one of China’s e-commerce giants, in Beijing on June 28. According to the agreement, FAW and JD will carry out cooperation in smart procurement service, intelligent logistics, marketing, mobility, intelligent Internet of Things (IoT), public welfare programs, financial service, and auto aftermarket, in a bid to jointly explore an all-chain digital business model of automobile industry from production to marketing.
Key Target Audience
Manufacturers of Fuel Trucks, Suppliers of Raw Material, Oil & Gas Industry, Governmental Bodies and Research Firms
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.