North America Tank Truck Market size to cross USD 3.4 Billion by 2034

Selbyville, DE. - North America tank truck market was estimated at USD 2.1 billion in 2024 and is expected to grow from USD 2.2 billion in 2025 to USD 3.4 billion by 2034, at a CAGR of 4.8%, according to the latest report published by Global Market Insights Inc.  

North America strong energy and petrochemical industries continue to drive high demand for tank trucks, which are essential for transporting crude oil, refined petroleum products, and hazardous chemicals. The expansion of shale gas operations and chemical manufacturing hubs further supports this trend.  

Key Insights:

Market Size & Growth:

• 2024 Market Size: USD 2.1 billion
• 2025 Market Size: USD 2.2 billion
• 2034 Forecast Market Size: USD 3.4 billion
• CAGR (2025–2034): 4.8%  

Regional Insights:

• Largest Market: United States
• Fastest Growing Market: Canada
• Emerging Countries: Western U.S. States (California, Oregon), Northern, Remote Mining Regions.  

Key Growth Drivers:

1. Rising demand for bulk liquid logistics: The increasing need for efficient and reliable bulk liquid transportation including food-grade liquids, water, and industrial fluids is pushing companies to invest in specialized tank trucks.  
2. Expansion of cross-border trade: Trade agreements and the integrated supply chain between the U.S., Canada, and Mexico are contributing to higher volumes of goods transported by road, including hazardous and non-hazardous liquids.  
3. Regulatory push for safer transport solutions: Stringent safety and environmental regulations by U.S. DOT, Transport Canada, and other agencies are encouraging fleet upgrades.  
4. Growth in construction and industrial activities: The recovery and growth of the construction sector across North America is increasing the need for bulk transport of construction-related liquids such as asphalt, cement additives, and industrial oils.  
5. Technological advancements in fleet management: Advances in telematics, GPS tracking, load monitoring, and route optimization are enhancing the efficiency and safety of tank truck operations.  

Key Players:

• Caterpillar led the market with over 14% share in 2024.  
• Some of the top players in this market include Rosenbauer, Caterpillar, rev group, Ledwell Enterprises, Oshkosh / Pierce, which together held a 24% share in 2024.  

Key Challenges

1. Driver shortage and workforce constraints: One of the most pressing challenges is the ongoing shortage of qualified commercial truck drivers, especially those certified to handle hazardous materials.  
2. Strict regulatory compliance: The tank truck industry is subject to a complex framework of federal, state, and provincial regulations regarding hazardous material handling, emissions, and vehicle safety.  
3. High capital and maintenance costs: Tank trucks, particularly those used for transporting chemicals, fuel, or food-grade liquids, are expensive to manufacture, maintain, and insure.  
4. Fluctuations in fuel prices: Volatility in fuel prices directly affects operating margins for tank truck fleets.  
5. Infrastructure limitations and urban restrictions: Aging Road infrastructure, limited access to loading/unloading zones, and increasing restrictions on heavy vehicles in urban areas present logistical hurdles.  

Browse key industry insights spread across 210 pages with 165 market data tables and figures from the report, “North America Tank Truck Market Size - By Application, By Product, By Business Model, Growth Forecast, 2025 - 2034” in detail, along with the table of contents:

https://www.gminsights.com/industry-analysis/north-america-tank-truck-market  

Rising Adoption of Dust Control Applications

The dust control applications segment held significant share in 2024, driven by construction, mining, and municipal services, where airborne particulate matter poses environmental and operational challenges. Market growth is driven by increased infrastructure projects and stricter air quality regulations. Tank trucks designed for dust suppression are equipped with specialized spray systems and high-capacity water tanks, making them essential for maintaining compliance and visibility on job sites.  

On-Road to Gain Traction

The North America tank truck market from on-road segment held sustainable share in 2024, backed by industries such as fuel transport, chemical logistics, and food-grade liquid distribution. Fleet operators prioritize vehicles with enhanced maneuverability, fuel efficiency, and advanced telematics to ensure regulatory compliance and operational transparency. With long-haul logistics continuing to evolve, the on-road segment is seeing consistent investment in safety upgrades and route optimization technologies.  

New Equipment to Propel

The new equipment segment generated substantial share in 2024, fueled by outdated vehicles with advanced, more efficient tank trucks. Operators are favoring new units that come equipped with digital monitoring, GPS tracking, and improved load handling systems to meet customer expectations and regulatory demands. As a result, OEMs are focusing on faster production cycles, modular tank configurations, and post-sale service offerings to maintain a competitive edge.  

United States Tank Truck Market

United States tank truck market will grow at a decent CAGR during 2025-2034 supported by a diverse industrial base that includes oil and gas, agriculture, chemicals, and water treatment. The push for domestic manufacturing and energy independence further fuels demand for specialized tankers capable of handling hazardous, flammable, and food-grade liquids. Regional and national fleets are expanding their capabilities through technology adoption, while local operators are investing in multi-purpose tank trucks to remain competitive in a dynamic logistics environment.  

Major players in the North America tank truck market are Valew, Curry Supply Company, Knapheide Manufacturing Company, Load King, Ledwell & Son Enterprises, Amthor International, Tiger Manufacturing, Klein Products, Niece Equipment, Caterpillar.  

To strengthen their position, leading North America tank truck manufacturers and service providers are focusing on fleet modernization, digital transformation, and regional partnerships. Companies are investing in telematics, route analytics, and predictive maintenance platforms to boost operational efficiency and minimize downtime. There's also a strong emphasis on customization, with OEMs offering modular tank designs tailored for specific applications such as dust suppression, chemical transport, and food-grade logistics.