United States Tank Trucking Market Trends

Statistics for the 2023 & 2024 United States Tank Trucking market trends, created by Mordor Intelligence™ Industry Reports. United States Tank Trucking trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of United States Tank Trucking Industry

Fuel Tank Trailers as Petroleum Carriers are Boosting the Market's Growth in the United States

  • Across the United States, billions of fuel tanker trucks transport useful but highly flammable petroleum compounds like diesel, gasoline, benzene, CNG, jet fuel, etc. Due to the items' flammability, transporting them can result in dangerous scenarios during loading and unloading at the destination and while traveling on the road.
  • The Department of Transportation in the United States mandates that any ships transporting such petroleum and byproducts in bulk comply with DOT 406 standards and adhere to prescribed procedures for loading and discharging the product. The US Department of Transportation has set minimum standards for loading and unloading fuel tank trailers to improve safety and convenience.
  • These regulations call for the supervision of the competent attendant in loading and unloading flammable goods into the tank trailer. While loading and unloading, the vessel must always have a qualified person in charge of it. Attendees must be familiar with the extremely combustible goods they will handle, per DOT regulations, to be admitted. There is a need always to keep the attendant 25 feet (7.62 meters) away from the tank trailers. This is a walking distance in a straight line, not a field of vision.
  • The trained person must constantly be on the lookout for any odd circumstances that could be risky or challenging; the attendant must have an unimpeded view of the tank trailer and any hoses attached to it during loading and unloading are few of the other must to-dos in the process.
  • Recently, many new entrants have appeared as appealing tank truckers of petroleum products in the United States. For instance, Sentinel Transportation, which transports crude oil, petroleum coke, fuel, and other oil-related items, was originally a subsidiary of Conoco and DuPont. It is now a subsidiary of Phillips 66. The company is recognized as one of the best and largest crude oil and gasoline transportation fleets in the nation and runs over the entire United States.
  • Another example is James J Williams, the popular family-run business in the United States. Williams transports both liquid and dry cargo. The business has its headquarters in Cheney, Washington, and mostly serves the Pacific Northwest. Its tanker division, known as the JJW Tanker Division, operates in Canada, Washington, and Oregon. Williams is a much smaller company than some, which many local drivers find appealing. It hauls bulk chemical, food, and petroleum items with its 80 trucks and 115 trailers.
United States Tank Trucking Market - Leading oil and gas companies in United States: in Billion USD, by Revenue, 2023

US Tank Trucking Industry Getting Benefited from Advanced Technologies

  • In the past, US businesses have relied on tactics like increasing human resources and freight capacity, but supply chains have become more dynamic and customer-focused every day. It is using technology to create more autonomous and intelligent operations to overcome the industry's bottleneck.
  • Businesses like Tesla and Alphabet's Waymo constantly develop AI systems to feed billions of miles of real-time data to AVs. Their goal is to make AVs that are fully autonomous at level 5. With or without a driver, tank trucks may soon be available at a moment's notice.
  • A component of autonomous vehicle technology called platooning has the potential to end the ten-year truck driver shortage. Here, a group of self-driving vehicles would be closely linked (both physically and digitally), and supercomputers running AI would control these trucks from afar. As part of this project, Daimler has been building and testing a semi-autonomous vehicle that can now legally drive on Nevada's public roads.
  • The US tank trucking business has become more productive and easier due to the improvements in satellite technology. Bill of lading information can be put into a simple dot matrix display screen showing only text. The "Qualcomm" system is also known as OmniTRACS.
  • This enables communication between the driver and their dispatcher, who is often responsible for figuring out and telling the driver their drop-off and pick-up locations. Finding the next public phone is no longer necessary since American truck drivers may now communicate load status information while still within the truck cab.
  • The driver uses a keyboard to enter the information into an automatic system of macro messages that have already been set up. The loading and unloading procedure has macros for each step, such as "arrived at the ultimate destination" or "loaded and leaving
  • With this technology, the company can also keep track of the driver's speed, gear choice, location, engine idling time, driving time, and travel direction. Every truck in the United States is known as "a note on the system," according to the datasheet for the trucking business. This digital transparency is driving standards to transform the market globally, starting in the United States.
  • Truck drivers who use GPS satellite navigation systems don't have to use a paper map, which saves them time and work. Drivers can listen to the news, sports, commercial-free music, and talk radio coast to coast without signal interruption if they are ready to pay for a satellite-operating radio or work for an organization that does. Thus, the government always puts money into the industry to help it grow.
United States Tank Trucking Market - Estimated rate of generative AI Adoption in the workplace in United States: in %, by industry, 2023

US Tank Trucking Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)