The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Increased demand for liquids and gases as a raw material in the residential and petrochemical sectors that use railways as one of the modes of transportation are expected to drive innovation in tank wagons manufacturing, thus driving the market during the forecast period.

The global tank wagons market is expected to grow from $67.44 billion in 2022 to $70.56 billion in 2023 at a compound annual growth rate (CAGR) of 4.6%. The global tank wagon market size is expected to grow to $82.63 billion in 2027 at a CAGR of 4.0%.

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Global Tank Wagons Market Segments Include:

• By Tank Pressure Type:Pressurized Railraod tank car, General Purpose or Non-Pressurized tank car
• By Protection Type:Insulated, Non-insulated
• By Application:Crude Oil, Ethanol, Liquefied Gases, Bio Fuels, Milk, Chemicals, Other Applications
• By Geography:The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global tank wagons market in 2021.

Major Market Players in the tank wagons market include American Railcar Industries Inc., GATX, National Steel Car, The Greenbrier Companies, Trinity Industries Inc., Vertex Railcar, Union tank car company, American-Rails.

The launch of the internet of things (IoT) to fast-track the safety and compliance of rail tanks has created immense demand in the tank waggon market. The Internet of Things (IoT) empowers rail administrators to use internet-connected communication devices installed across infrastructure and rolling stock to increase safety. Moreover, there are many apps, such as the safety lock app, terminal automation app, and anti-roll-away apps, rolled out by TCS to digitalize the tank wagons.

The Tank Wagons Global Market Report 2023 provides a tank wagons market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The tank wagons market forecast analyzes tank wagons market size, tank wagons market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Tank wagon refers to a type of railroad car or rolling stock that is used as a tanker designed to transport liquid and gaseous commodities such as hazardous chemicals, oil and gas, crude petroleum oil, and other liquid commodities from fuel stations to rail stations on the rail transport system and on the road transport system to improve safety and reduce the chance of leakage of hazardous liquids.

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