Skip navigation
New NTTC economic study redefines scope of US tank truck industry

New NTTC economic study redefines scope of US tank truck industry

A new Tank Truck Industry Market Analysis provides probably the most detailed look at the industry, and it shows that tank truck fleets account for roughly 10.9% of the total US trucking industry. The analysis was commissioned by National Tank Truck Carriers and authored by American Trucking Associations’ Chief Economist Bob Costello and his team.

Costello will review key factors in the report during his annual economic report during the NTTC Annual Conference April 26-28 in Boston MA. He first unveiled the report’s findings for the NTTC membership during the association’s Winter Board Meeting in Puerto Rico.

The publication marks the first time that the industry has taken the initiative to create a systematic approach to calculate the amount of freight moved by tank trucks. The study also quantifies the market by commodity type based on government commodity flow survey information and the input of an advisory committee comprised of several NTTC carrier members.

“This new study offers first-rate economic market intelligence that never before existed leaving most to rely on anecdotal guesstimates about our unique industry at best,” says NTTC President Daniel R Furth. “Now industry players can really gauge the varied service segments and their respective market shares and apply this intelligence to planning and operations.  Moreover, the study gives us a solid baseline to track market trends by commodity types over time as new commodity flow information becomes available.”

Key findings of the study include the following metrics on tank truck tonnage, capacity, and revenue in 2013:

• In 2013, the tank truck industry hauled 2.48 billion tons of freight, which equaled 25.6% of all truck freight (9.68 billion tons).

• The largest commodity group for all tank truck freight was petroleum products (gasoline, diesel, and aviation fuel), which equaled 1.22 billion tons or 49.2% of all tank truck tonnage, followed by sands at 419.9 million tons (15.2%), and chemicals, excluding fertilizers and cryogenics, at 240.9 million tons (9.5%).

• In 2013, the tank truck industry generated $34.5 billion in revenue, which equaled 5.1% of all truck revenue ($681.7 billion).

• The commodity group that generated the most revenue for for-hire carriers in 2013 was chemicals, excluding fertilizers and cryogenics, at just under $7 billion, or 28.3% of all for-hire tank truck revenue. Closely following chemicals was petroleum products, which brought in $6.8 billion in revenue in 2013, or 27.5% of all for-hire tank truck revenue. Cements were a distant third at $2.3 billion, or 9.5% of the total.

• Private fleets continue to play a significant role in the tank truck sector. They hauled 485.8 million tons of petroleum-based products in 2013, or 42.9% of all private carrier tank truck freight. Sands equaled 18.9% of this sector’s tonnage, or 214.3 million tons. The third largest commodity for this group was cements and related products at 133.8 million tons, or 11.8% of the total.

• In 2013, the tank truck industry operated 163,670 tractors, or 10.9% of the roughly 1.5 million of all over-the-road tractors in the US.

This publication is the first in a planned series of periodic calculations of the tank truck industry. Going forward, NTTC expects to provide historical data for time-series comparisons as well as forecasts. There is also potential to expand the research to include trailer capacity.

Copies of the report can be ordered online at: http://nttc.informz.net/nttc/data/images/2015Economicsorderform.pdf 

TAGS: News
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish