Tank & Refrigeration Trucking in Canada - Industry Market Research Report

Long Haul: Industry Revenue Will Likely Benefit from Stable and Recovering Demand from Downstream Customers

Over the past five years, tank and refrigeration truckers in Canada have faced a downturn as they weren't able to immediately rebound from challenges brought on by the COVID-19 pandemic. Social distancing protocols led to reduced operating capacities that cut industrial production and trade, which in turn cut the need for tank and refrigeration trucks to carry goods. While many industries began to recover as the pandemic subsided, skyrocketing oil prices and lingering supply chain issues prevented tank and refrigeration truckers from capturing slowly returning demand. Industry-wide revenue has been falling at a CAGR of 1.3% over the past five years and is expected to total $15.2 billion in 2023, when revenue will dip by an estimated 1.0%.

The Tank and Refrigeration Trucking industry in Canada provides long-distance trucking services for atypical cargo requiring specialized transportation. Companies in this industry transport bulk liquids, frozen goods, dry bulk materials, forest products, automobiles and other specialized freight between metropolitan areas. However, this industry does not include the transport of used goods.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.