Fuel Storage Containers Market in Numbers:
- Global sales of fuel storage containers exceeded revenues worth US$ 5,300 Mn in 2018. Low operational costs in the emerging countries have been persuading industry players to follow the ‘expend to expand’ mantra, which has bumped up the trade activities and caused an upsurge in the demand for fuel storage containers.
- Fuel storage containers market is estimated to grow at nearly 4.0% CAGR through 2028.
- North America, an attractive market for packaging, is likely to remain the leading market for fuel storage containers, underpinned by the paradigm shifts in the digital shopping behavior of consumers, which have resulted in a marked rise in the transportation activities.
- The 55 gallon fuel storage drums are likely to remain the preferred category among end-users, with sales accounting for bulk shares of the market.
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What are the Key Growth Drivers of the Fuel Storage Containers Market?
- Key trends, such as the use of intermediate bulk containers (IBC) equipped with RFID tags for better tracking and traceability of assets, have been in line with the stakeholders of transportation industries. As ecommerce continues to gain popularity as the mainstream sales channel for a wider array of industrial goods, transportation activities will only intensify in the future, thereby complementing prospects of the fuel storage containers industry.
- A transition from use of metal to plastic material for the development of light-weight fuel storage containers is being witnessed among manufacturers, as end-users seek competent containers to resist environmental impacts and blows. Additionally, plastic-based fuel storage containers are carving an end-use niche through their rust prone applications in laboratories.
- Growing infrastructure activities to assure channelized supply of resources for meeting requirements of the energy, and telecommunication industries, are likely to create lucrative opportunities for the transportation industry, in turn favoring growth of the fuel storage containers market.
- Manufacturers are targeting the specific demands of consumers and offering customization as per the end-use application, thereby safeguarding their position in the fuel storage containers market.
- Ongoing commercial and infrastructure projects of developing economies such as China and India, are expected to enhance overseas trade activities in the upcoming years, thereby auguring well for sales of fuel storage containers.
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What are the Key Challenges Faced by Players in Fuel Storage Containers Market?
- The inability of manufacturers to adapt to the frequently altering government regulations regarding the quality of the fuel storage containers is likely to impact their production agility.
- Availability of fuel storage containers on rental basis and relatively lower rate of new equipment sales remains a key concern for the manufacturers of fuel storage containers.
- As fuel storage containers can be reconditioned and rebottled, consumers increasingly follow the recycling trends to save large investments in purchasing new containers.
Fuel Storage Containers Market – Competitive Landscape
The fuel storage containers market remains fragmented with numerous companies vying to gain larger shares. The fuel storage containers market leaders such as Mauser Packaging Solutions, Greif, Inc., and SCHÜTZ GmbH & Co. KgaA, collectively account for nearly 40% shares. Expansion of the production capacity, along with establishing a dedicated distribution network across various regions, remain the core strategy of this batch of players.
Leading players leverage customization as the key winning imperative to target the industry-oriented applications. For example, Greif, Inc. expanded its product line, with a novel range of specialty steel and stainless steel drum for storing fuel. Additionally, the company inaugurated a steel drum production plant in Vorsino Industrial Park, in Russia, to accommodate additional production of fuel storage containers. However, the strategies employed by players of another batch of the fuel storage containers market is in contrast with leading players.
Emerging players such as Scepter Canada Inc., Time Technoplast Inc., Hoover Ferguson Group, Inc., and WERIT Kunststoffwerke acquire a share of nearly 8-13% of the fuel storage containers market. These players hold the key of product diversification to unlock novel opportunities in the fuel storage containers market. For instance, WERIT Kunststoffwerke introduced UN and FDA approved intermediate bulk containers for the transportation of high-quality edible oils.
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Fuel Storage Containers Market - Additional Insights
End-Users Continue to Prefer 55 Gallon Fuel Storage Drums
According to Fact.MR study, demand for 55 gallon fuel storage drums are expected to remain preferred among end-users, favored by their multifaceted applications in protecting, storing, and transporting of liquid fuels. Manufacturers have been directing their efforts toward the development of drums using materials such as fiber, plastic, and steel, to target the specific demands of customers, such as fuel storage for lawn movers. With colossal demand for fuel to ensure the seamless operations, the fuel storage containers have been witnessing high demand across a wide range of industry sectors, including chemicals and fertilizers, petroleum and lubricants, food and beverages, pharmaceuticals, building and construction, and paint.
Fact.MR follows a systematic approach to extract intelligent insights into the fuel storage containers market. For this purpose, secondary and primary research is being carried out by our analysts. The secondary research consists of referring company websites, financial reports, white papers, and annual reports of companies operating in the fuel storage containers market to form the basis of the research. Additionally, paid publications such as Meltwater, Genios, GBI, and Factiva have been studied to derive a clear picture of the fuel storage containers market.
In the bid to carry out primary research, interviews with the industry leaders, distributors, and industry players were conducted. Post the collection of insights, data validation through triangulation method is done, in order to offer actionable intelligence to our readers.
Request Research Methodology of this Report.
Fuel Storage Containers Market – Introduction
Fact.MR, in its latest study, lays bare the crucial drivers influencing the growth of the fuel storage containers market during the forecast period 2018-2028. The primary aim of this comprehensive study is to provide significant information on the existing opportunities and future status of the fuel storage containers market over the course of the forecast period. Key drivers, restraints, trends, opportunities, and value forecasts have been included in this broad guide.
An entire section of the fuel storage containers market study is dedicated to the competitive landscape. The study includes the profiles of key players, their shares, strategies, and the overall market structure. The report highlights the key development undertaken by these players, so as to equip the readers with valuable insights into the fuel storage containers market.
Chapter 1 – Executive Summary
The report on the fuel storage containers market commences with an executive summary that sets the tone for the entire landscape. It comprises of a summary of statistics regarding the growth behavior of the fuel storage containers market.
Chapter 2 – Global Fuel Storage Containers Market Associated Industry Assessment
This section of the report comprises of the macro- and microeconomic factors shaping the growth of the fuel storage containers market over the course of the forecast period.
Chapter 3 – Global Fuel Storage Containers Market Dynamics
In this particular chapter, crucial drivers, restraints, trends, and opportunities laying their influence on the fuel storage containers market are studied and their impact is measured.
Chapter 4 – Global Fuel Storage Containers Market Pricing Assessment
This chapter lays bare the factors affecting the pricing of the fuel storage containers along with the factors impacting the pricing decision.
Chapter 5 – Global Fuel Storage Containers Market
This section of the report offers an incisive outlook of the fuel storage containers market and offers a regional demand assessment. The fuel storage containers market is analyzed on the basis of the value and volume and an in-depth segmentation based on the product type of the fuel storage containers market is included in the study.
Chapter 6 – North America Fuel Storage Containers Market
A country-wise analysis of the fuel storage containers market along with the demand assessment for North America is included in this section.
Chapter 7 – Latin America Fuel Storage Containers Market
In this particular section of the report, country-wise fuel storage containers market of Latin America is analyzed in terms of value share and volume share.
Chapter 8 – Western Europe Fuel Storage Containers Market
The chapter offers a deep dive into the growth prospect of the fuel storage containers market in Western Europe along with the market attractiveness based on the product type.
Chapter 9 – Eastern Europe Fuel Storage Containers Market
A country-wise demand assessment of the Eastern Europe fuel storage containers market is studied in this section and the attractiveness of the market is also analyzed.
Chapter 10 – MEA Fuel Storage Containers Market
This section of the report emphasizes the demand generated by crucial countries of the Middle East and Africa. The chapter also analyzes the attractiveness of the fuel storage containers market.
Chapter 11 – APEJ Fuel Storage Containers Market
A country-wise assessment of the fuel storage containers market along with the demand assessment for APEJ is discussed in this section.
Chapter 12 – Japan Fuel Storage Containers Market
The demand for fuel storage containers ascending from Japan is analyzed in this report along with the market attractiveness during the forecast period.
Chapter 13 – Competitive Analysis
A snapshot view of the competition prevailing in the fuel storage containers market is analyzed in this section along with key insights into the market structure.
Chapter 14 – Fuel Storage Containers Vendor Assessment
This section sheds light into the competitive landscape of the fuel storage containers market with information about the vendors operating at different levels and functioning with different strategies.
Chapter 15 – Assumptions and Acronyms Used
This section covers the assumptions and acronyms used in the report.
Chapter 16 – Research Methodology
The overall research approach taken to draw a conclusion on the estimated size of the fuel storage containers market is included in this section.
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