According to a recently published Fact.MR report, sales of fuel storage containers market are estimated to exceed 79,300 thousand tons in 2019. The fuel storage containers industry has been significantly influenced by the pervasive developments in trade, wherein profound economies – ensued from ‘gigantism’ in ship sizes – play a vital role.
Economies of scale, in combination with the intense competition among carrier, in the shipping industry have considerably reduced the cost of transportation, thereby complementing growth of trade activities worldwide. The upsurge in cross-border trade activities has further driven the demand for rigid packaging solutions, such as industrial drums and intermediate bulk containers.
Request a Sample of this Report
The study highlights the influence of novel technologies, such as RFID tags, on the adoption rate of fuel storage containers. As stakeholders in the transportation and logistics industry continuously eye to gain early-mover advantage in automation, RFID tags-equipped fuel storage containers are becoming a key imperative for safeguarding their bottom lines, and enabling traceability of assets.
The study opines that containers continue to endure as the lifeblood of fuel transport worldwide, as the ubiquitous, modular, simple containers account for a significant portion of sea- borne fuel transport. Although, adoption of fuel storage containers continues to grow in abundance, challenges prevail in terms of precarious financial nature, and the awareness of sustained value creation among fewer industry stakeholders.
Get Customization on this Research Report for specific research solutions
Uncertainties in Scalability and Value-Chain Integration to Impact Fuel Storage Container Sales
According to the study, the fuel storage containers industry is also impacted by an array of disruptive forces such as the trends of digitization and automation, along with the shifting political and economic landscape across the globe. Uncertainties in areas of value creation, in terms of scalability, value-chain integration, and flexibility, are likely to influence growth of the fuel storage containers market in the foreseeable future.
Emerging players in the fuel storage containers market are leveraging the digital technology, analytics, and data, for optimizing the value chain, alongside the transformations driven by the digital reinvention and innovation. These players continue to strive to bring value-added services to customers, while preparing for contrasting outcomes to stay ahead of change. The study alludes rapid growth in trade activities, and opportune potential of manufacturing and export of fuel storage containers in developing markets.
Speak to Research Analyst
Laws Regarding Strict Filtration of Quality to Challenge Fuel Storage Container Sales
The study senses a potential hurdle in the growth of fuel storage containers market as rental networks gain ground, amid shifting preferences of end-users toward owning fuel storage containers on a rental basis, and saving a large amount on the purchase of new containers. Government regulations have made it mandatory for storage containers to qualify strict quality filters, which in turn, continue to take a toll on their production agility. The incompetence of manufacturers to adhere to the rules further narrows their expansion windows and impacts the growth of fuel storage containers market.
The study finds that North America will continue to persist as a leading fuel storage containers market with a plethora of drivers at play. Being a mature packaging industry, the region remains lucrative for fuel storage containers sales as key strategies adopted by fuel storage containers manufacturers have enabled them to gain a wider customer base. Economic vigor of customers in the region has further led the inclination towards recreational activities, which in turn has resulted in a marked rise in demand for efficient storage facilities.
The Fact.MR report offers a long-term outlook of the fuel storage containers market for the period 2018 to 2028. The fuel storage containers market is projected to record a CAGR of nearly 4.0% through 2028.
Explore More Trending Reports of Fact.MR
Microfibrillated Cellulose (MFC) Fiber Market, Forecast, Trend, Analysis & Competition Tracking – Global Market Insights 2021 to 2031
Nano Crystalline Soft Magnetic Materials Market, Forecast, Trend, Analysis & Competition Tracking – Global Market Insights 2021 to 2031
High Purity Quartz Sand Market Forecast, Trend, Analysis & Competition Tracking – Global Market Insights 2020 to 2030
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions.We have offices in US and Dublin, whereas our global headquarter is in Dubai.While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise.Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed.
Reach out to us with your goals, and we’ll be an able research partner.
US Sales Office:
11140 Rockville Pike
Rockville, MD 20852
Tel: +1 (628) 251-1583
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates