Tube Trailers Market Size, Share, Trends, Growth 2030

Tube Trailers Market

Tube Trailers Market By Application (Gas Storage, Specialty Chemicals Transport & Storage, Compressed Natural Gas Transport, Hydrogen Energy Storage, Industrial Gasses Transport, and Others), By Type (Jumbo Tube Trailers, Standard Tube Trailers, and Super Jumbo Tube Trailers), By Material (Composite, Aluminum, and Steel), By Component (Valves, Tubes, Fittings, and Chassis), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2030

Category: Heavy Industry Report Format : PDF Pages: 221 Report Code: ZMR-7693 Published Date: Oct-2023 Status : Published
Market Size in 2022 Market Forecast in 2030 CAGR (in %) Base Year
USD 542.16 Million USD 794.18 Million 4.89% 2022

Tube Trailers Industry Prospective:

The global tube trailers market size was worth around USD 542.16 million in 2022 and is predicted to grow to around USD 794.18 million by 2030 with a compound annual growth rate (CAGR) of roughly 4.89% between 2023 and 2030.

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Tube Trailers Market: Overview

Tube trailers are transportation equipment used for carrying bulk liquid or gasses across long and short distances. These are specialized equipment owing to the type of material they transport including compressed hydrogen, natural gas, nitrogen, oxygen, and others. They are typically arranged in a rack form and are carried on the back of a transportation truck. Tube trailers consist of several specially designed cylinders containing compressed gasses at a service pressure that is higher than 500 psi and at 70°F also known as high-pressure cylinders. Transport and tube trailer service providers must ensure that the cylinders remain securely mounted on the trailer to avoid any serious mishap. In addition to this, these trailers are available in varying capacities to meet the needs of the dynamic end-user segment since smaller trailers are more efficient for transporting less volume of compressed gasses or bulk liquids. The market for tube trailers is increasing at a rapid rate owing to the rising consumption of compressed gasses across industrial and commercial industries.

Key Insights:

  • As per the analysis shared by our research analyst, the global tube trailers market is estimated to grow annually at a CAGR of around 4.89% over the forecast period (2023-2030)
  • In terms of revenue, the global tube trailers market size was valued at around USD 542.16 million in 2022 and is projected to reach USD 794.18 million, by 2030.
  • The tube trailers market is projected to grow at a significant rate due to the growing consumption of compressed natural gas
  • Based on application segmentation, industrial gasses transport was predicted to show maximum market share in the year 2022
  • Based on material segmentation, aluminum was the leading type in 2022
  • On the basis of region, North America was the leading revenue generator in 2022

Global Tube Trailers Market SizeRequest Free Sample

Tube Trailers Market: Growth Drivers

Growing consumption of compressed natural gas to deliver high revenue

The global tube trailers market is expected to grow owing to the increasing consumption and demand of compressed natural gas also known as CNG. It is a widely used vehicle fuel and is used to power automobile engines. In 2022, more than 3.5 million metric cubic meters of natural gas were used across the globe. The primary driver was the increasing demand for CNG automobiles as they offer several advantages over counterpart automobiles such as the ones powered by petrol and diesel. For instance, CNG vehicles are known to emit lesser harmful gasses such as nitrogen oxides and carbon monoxide. These gases not only impact the environment quality but are dangerous to living organisms.

The high emission rate of harmful gasses is a leading cause of rising air pollution. Governments and international environmental agencies are working toward curbing and reducing harmful emissions leading to higher consumer awareness about the benefits of CNG vehicles. In addition to this, these variants also have better fuel efficiency since CNG automobiles can travel long distances with a relatively low CNG consumption rate. The increasing demand for CNG passenger cars in emerging economies is expected to cause higher adoption of tube trailers as they are essential transportation units that ensure safe transport and delivery of crucial gasses including CNG.

Tube Trailers Market: Restraints

Lack of supporting infrastructure to restrict market growth

The tube trailers industry is expected to register restricted growth owing to the lack of supporting infrastructure that promotes the smooth and hassle-free use of tube trailers. For instance, several countries especially the ones dealing with social and political turmoil lack efficient architecture that supports reloading and refueling of tuber trailers. In addition to this, the initial cost of manufacturing superior-grade tube trailers is exceptionally high owing to the specialized material and technique used to produce these safe compressed gas transportation devices. The requirement of high initial investment makes it difficult for new players to enter the industry while the existing players deal with constraints such as the supply of raw materials and access to tube trailer manufacturing facilities.

Tube Trailers Market: Opportunities

Ongoing and surging investments in the development of superior-grade tube trailers to create expansion possibilities

The tube trailers industry is projected to witness higher growth possibilities owing to the development of more efficient and superior-performance tube trailers. Manufacturers are experimenting with new sizes, carrying capacity, and raw materials to build tube trailers that can adapt to the changing needs of the end-user groups. For instance, in February 2023, Calvera Hydrogen announced the development of a new tube trailer with the world’s largest capacity. The trailer range was built in the company’s Spain-based facilities. It can transport 1.3 tons of hydrogen on European roads and 1.0 tons of hydrogen on US roads with a working pressure of 7,500 psi. It is also the world’s only tube trailer range with the highest working pressure. Future market growth is also dependent on the ongoing strategic partnerships between tube trailer providers and end-users. In August 2021. Hanwha Cimarron, a tank manufacturer acquired by Hanwha Solutions signed a 10-year long deal with Sunbridge Energy Services, a US-based energy company worth USD 250 million. As per the contract, Hanwha Cimarron will deliver tube trailers with dozens of CNG storing vessels. Each trailer is 42 to 45 feet long as per reports.

Tube Trailers Market: Challenges

Rising investments in alternate methods of transporting compressed gasses may challenge future growth

The global tube trailers market players are expected to face challenges during the forecast period due to the increasing investments in alternate methods for transporting compressed gasses and other materials through tube trailers. The most prominently used method is with the aid of pipeline transportation. All large economies have robust pipeline transportation infrastructure and they are continuously investing in further expansion of the network. For instance, in November 2022, Enbridge Inc. announced that it was planning to spend CAD 3.6 billion for the expansion of its existing pipeline infrastructure in British Columbia.

Tube Trailers Market: Segmentation

The global tube trailers market is segmented based on application, type, material, component, and region.

Based on application, the global market segments are gas storage, specialty chemical transport & storage, compressed natural gas transport, hydrogen energy storage, industrial gasses transport, and others. In 2022, the highest growth was observed in the industrial gasses transport segment owing to the high demand for several crucial industrial gasses including oxygen, hydrogen, carbon dioxide, and others. As per the International Energy Agency, global demand for hydrogen reached 95 Mt ian 2022. It was a hike of 3% as compared to 2021.

Based on type, the tube trailers industry divisions are jumbo tube trailers, standard tube trailers, and super jumbo tube trailers.

Based on material, the tube trailers industry segments are composite, aluminum, and steel. In 2022, the highest revenue was generated from the steel segment followed by aluminum. The popularity of steel is driven by the excellent chemical, physical, and thermal properties exhibited by the material, especially in high-performance applications. Growing investments in advanced steel alloys with improved applications could assist in higher segmental growth during the projection period. Steel can survive for more than 100 years with the aid of a protective coating.

Based on component, the global market segments are valves, tubes, fittings, and chassis.

Tube Trailers Market: Report Scope

Report Attributes Report Details
Report Name Tube Trailers Market
Market Size in 2022 USD 542.16 Million
Market Forecast in 2030 USD 794.18 Million
Growth Rate CAGR of 4.89
Number of Pages 221
Key Companies Covered Taylor-Wharton, Air Liquide, Air Products and Chemicals Inc., Cyl-Tec Inc, Taiyo Nippon Sanso Corporation, FIBA Technologies Inc., Linde plc (formerly Praxair), Quantum Technologies, Luxfer Gas Cylinders, U.S. Gas & Equipment, Cryolor, Gas Innovations, INOXCVA., and others.
Segments Covered By Application, By Type, By Material, By Component, and By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
Base Year 2022
Historical Year 2017 to 2021
Forecast Year 2023 - 2030
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Tube Trailers Market: Regional Analysis

North America to register the highest growth rate during the coming period

The global tube trailers market is expected to witness the highest growth in North America during the forecast period. The US and Canada regions have high application of tube trailers. The primary reason for higher growth is the existence of a low-cost supporting infrastructure that allows trailer refueling and reloading. These countries also have a higher number of tube trailer manufacturers and suppliers. In February 2023, BayoTech, Inc., a leading provider of hydrogen solutions announced that it had reached a new milestone by delivering a 700th high-pressure gas transport trailer to its Plug Power client. Technology providers have also been working on developing innovative fueling solutions that are expected to further regional growth. In January 2023, Nikola, a fuel cell truck startup launched the HYLA hydrogen brand. Meanwhile, the company also announced that it will invest in building 60 new hydrogen fuel stations across California and Ontario by 2026. Europe is projected to emerge as a crucial region. Growth in Europe is expected to be led by rising demand for compressed industrial gasses across end-user segments.

Tube Trailers Market: Competitive Analysis

The global tube trailers market is led by players like:

  • Taylor-Wharton
  • Air Liquide
  • Air Products and Chemicals Inc.
  • Cyl-Tec Inc
  • Taiyo Nippon Sanso Corporation
  • FIBA Technologies Inc.
  • Linde plc (formerly Praxair)
  • Quantum Technologies
  • Luxfer Gas Cylinders
  • U.S. Gas & Equipment
  • Cryolor
  • Gas Innovations
  • INOXCVA.

The global tube trailers market is segmented as follows:

By Application

  • Gas Storage
  • Specialty Chemicals Transport & Storage
  • Compressed Natural Gas Transport
  • Hydrogen Energy Storage
  • Industrial Gasses Transport
  • Others

By Type

  • Jumbo Tube Trailers
  • Standard Tube Trailers
  • Super Jumbo Tube Trailers

By Material

  • Composite
  • Aluminum
  • Steel

By Component

  • Valves
  • Tubes
  • Fittings
  • Chassis

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

FrequentlyAsked Questions

Tube trailers are transportation equipment used for carrying bulk liquid or gasses across long and short distances.

The global tube trailers market is expected to grow owing to the increasing consumption and demand of compressed natural gas also known as CNG.

According to study, the global tube trailers market size was worth around USD 542.16 million in 2022 and is predicted to grow to around USD 794.18 million by 2030.

The CAGR value of tube trailers market is expected to be around 4.89% during 2023-2030.

The global tube trailers market is expected to witness the highest growth in North America during the forecast period.

The global tube trailers market is led by players like Taylor-Wharton, Air Liquide, Air Products and Chemicals, Inc., Cyl-Tec, Inc, Taiyo Nippon Sanso Corporation, FIBA Technologies, Inc., Linde plc (formerly Praxair), Quantum Technologies, Luxfer Gas Cylinders, U.S. Gas & Equipment, Cryolor, Gas Innovations, and INOXCVA.

The report explores crucial aspects of the tube trailers market including detailed discussion of existing growth factors and restraints while also browsing future growth opportunities and challenges that impact the market.

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