Solid metal: Climbing crop, oil and industrial production will increase demand

Industry revenue has declined over the past five years, due in part to weather conditions that reduced crop production, declining commodity input prices and a contraction in industrial investment, all of which have reduced demand for industry products. Operators in this industry have recently had to compete with strong import competition and deal with broader natural implications that influence downstream activity. While the recent past has been tough for operators, the industry is expected to slowly recover in the coming years. Over the five years to 2023, industry revenue is expected to increase. Climbing crop, oil, industrial and chemical production are expected to increase demand for industry more.

Industry Statistics & Market Size
Annual Growth 13-18
Forecast Growth 18-23
Market Share of Companies

Industry Threats & Opportunities

  • Operators have recently had to compete with strong import competition and deal with abnormal weather events
  • US-based exporters were able to leverage economies of scale to outcompete Canadian producers
  • Demand for industry goods will also be boosted by steadily growing agricultural output
  • Industry Report - Industry Products Chapter

    Custom vs. standard line tanksTanks manufactured with a specific customer and application in mind account for 48.0% of industry revenue. These products are designed according to customer specifications and often require constant communication between involved parties. Since no job is exactly the same, economies of scale are harder to achieve and product prices tend to be higher. Thus, even if custom tanks comprise a smaller proportion of projects undertaken by industry operators, they typically garner higher price points and will accordingly contribute more to industry revenue.More than half of custom-built tanks are fabricated at factories and then erected on-site. All other custom tanks are fabricated in parts and erected on-site. Fie...purchase to read more.

    Additional Insights for the Metal Tank Manufacturing Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Metal Tank Manufacturing Industry are

  • Ability to vary services to suit different needs
  • Provision of superior after sales service
  • Must comply with required product standards
  • IBISWorld analysts also discuss how external factors such as Demand from crop production and Value of nonresidential construction in the Metal Tank Manufacturing industry impact industry performance..

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    What's in this report

    What is the Metal Tank Manufacturing Industry?

    This industry manufactures metal tanks, vessels and other containers by cutting, forming and joining heavy gauge metals. Products include acetylene cylinders, cryogenic tanks, farm storage tanks, fermentation tanks, gas storage tanks, liquefied petroleum gas cylinders, oil storage tanks, septic tanks, storage tanks, water tanks and vats.

    Industry Products
  • Custom built tanks
  • Standard line tanks
  • Gas cylinders
  • Industry Activities
  • Manufacturing light gauge metal tanks and vessels
  • Manufacturing gas cylinders
  • Installing heavy gauge metal tanks and on-site fabrication
  • Manufacturing silos and water containment wells
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Demand from crop production
  • Value of nonresidential construction
  • World price of steel
  • Canadian effective exchange rate index

  • Current Performance
  • Wavering demand
  • International trade and external competition
  • Consolidation and profit
  • Chart: Revenue Growth

  • Industry Outlook
  • Fluctuating demand
  • International trade and external competition
  • Consolidation and profit
  • Table: Metal Tank Manufacturing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Metal Tank Manufacturing Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Agriculture, Forestry, Fishing and Hunting In Canada
  • Heavy Engineering Construction in Canada
  • Petroleum Refining in Canada
  • Petrochemical Manufacturing in Canada

  • Key Selling Industries
  • Aluminum Manufacturing in Canada
  • Iron & Steel Manufacturing in Canada
  • Petrochemical Manufacturing in Canada
  • Power Tools & Other General-Purpose Machinery Manufacturing in Canada

  • Products & Services
  • Custom built tanks
  • Standard line tanks
  • Gas cylinders
  • Other
  • Chart: Metal Tank Manufacturing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Manufacturing market
  • Agricultural market
  • Oil, gas and petrochemical industries
  • Exports
  • Chart: Major Market Segmentation for the Metal Tank Manufacturing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Wages
  • Other expenses
  • Chart: Cost Structure Benchmarking – Sector vs Metal Tank Manufacturing

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Metal Tank Manufacturing Industry

  • Industry Globalization
    Ag Growth International,
  • Table: Ag Growth International - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Metal Tank Manufacturing 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 Metal Tank Manufacturing Industry
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Exports (2009-2023)
  • Imports (2009-2023)
  • Wages (2009-2023)
  • World price of steel (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Computer-Aided Design (Cad)
  • The use of computer technology to aid the design and drafting of a part or product using software tools that can create two-dimensional drawings or three-dimensional models.
  • North American Free Trade Agreement (Nafta)
  • NAFTA is a trade agreement between the United States, Canada and Mexico that reduces trade barriers and harmonizes various regulations and standards between the three countries.
  • Silo
  • Silos are hollow structures used to store bulk materials such as grain, coal and cement.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Metal Tank Manufacturing 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:
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    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
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    This report on Metal Tank Manufacturing:
    • 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 Metal Tank Manufacturing 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 Metal Tank Manufacturing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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