Road ahead: Rebounding consumer spending and industrial activity will boost demand
Tank & Refrigeration Trucking in the US Companies in the Tank and Refrigeration Trucking industry engage in the long-distance transportation of specialized freight. Over the five years to 2019, demand for industry services has increased amid positive conditions in the US economy. Steady growth in disposable income has fueled consumer spending, stimulating demand for the transportation of manufacturing inputs, automobiles and other specialized freight. Furthermore, full acceptance of just-in-time inventory management benefited the industry during the current period, with customers outsourcing specialized trucking services more frequently. However, industry growth was constrained by shocks to the price of crude oil over the past five years, which limited fuel surcharge revenue for operators. Overall, industry revenue is anticipated to increase during the current period. Over the five years to 2024, industry revenue is forecast to continue rising. Increased consumer spending, rising construction activity and growing oil and gas production will likely continue to bolster demand for industry services.
This industry comprises operators that provide long-distance specialized transportation of cargo using trucks and trailers. The industry moves cargo that requires specialized equipment for transportation due to its size, weight, shape or other characteristics. Companies within this industry transport items such as automobiles, gravel, sand, dirt, chemicals, frozen goods, livestock, milk and petroleum.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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