The North American FRP Tank research report published by Stratview Research, is an in-depth analysis of the latest developments, market size, future technologies, market drivers, upcoming challenges, with key company profiles. The research study provides market overview, opportunities in the market, sales and revenue by region and much more business intel.
This research analyses niche markets, potential threats, and competitive strategy in various segments based on the North American FRP Tank Market competitive landscape and development model in various parts of the world. This research throws light on the business strategies of the key players that might help in the growth of other companies during the pandemic era.
Impact of COVID-19 on North American FRP Tank Market
As the world grapples with one of its greatest health pandemic, the economic and social disruption has affected millions of enterprises. The revenues have gone down in the year 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition. Stratview Research throws light on in-depth insights related to rapid alterations in the key players in each industry, growth and decline due to COVID-19, etc. The researchers at Stratview Research are regularly connecting with the clients and other key players of almost all the industries, regarding the impact of COVID-19 on their businesses.
Key Players:
- Canwest Tank & Ecological Systems Ltd.
- Baraki Industries
- Endurance Composites, LLC
- Granby Industries
- LF manufacturing
- National Oilwell Varco
- Palmer of Texas
- Red Ewald
- ZCL Composites Inc. (Shawcor Ltd.).
Growth drivers and Market Value:
This report, from Stratview Research North American FRP Tank Market value and growth drivers over the trend period of 2021-26. According to the report -
Stratview Research believes that the region’s market may need four years to hit back its pre-COVID market and cross the landmark figure of US$ 0.5 billion by 2026.
Segment Analysis:
By Installation Type
Based on the installation type, the market is classified as underground and aboveground. The underground tank is likely to remain the most dominant installation type in the market during the forecast period. The demand for an underground FRP tank is increasing because they are ideal for water & septic, gasoline, AV-gas, motor oil, kerosene, diesel, alcohol-gasoline blend motor fuels, ethanol-blend motor fuels, methanol blends, and oxygenated motor fuels storage applications. Over the years, major FRP tank manufacturers have been efficacious in driving a shift from metal tanks to FRP tanks in the region.
By Region
All three countries (the USA, Canada, and Mexico) are subjected to register a massive decline in the demand for FRP tanks in the year 2020 in the wake of the pandemic. Despite the huge decline, the USA is estimated to maintain its lead in the market in the coming five years. Continuous rise in the penetration of FRP tanks in various applications, expected recovery in the oil & gas industry, and an expected increase in government spending on infrastructure will resuscitate the demand for FRP tanks in the country. The country has the largest number of manufacturers and users of FRP tanks in the region. Key players operating in the country are ZCL Composites Inc., National Oil Varco, and LF Manufacturing.
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Competitive Analysis: Understanding your rivalry is critical to your success. This section includes an analysis of your key competitors, their products/services, their differentiators, and market shares, etc.
Target Market and Audience: Identifying and prioritizing specific target markets is another key part of any industry, where research is crucial. Stratview Research’s report will help you find more about the demographics and buying behaviours of your potential customers.
Key Considerations for Market Forecast:
- Impact of lockdown, supply chain disruptions.
- Pre and post-COVID-19 market estimates
- Geographical Breakdown: Regional level analysis of the market, currently covering North America, Europe, China & Japan
Impact of COVID-19 on the Global Market
The North American FRP Tank report compiled by Stratview Research offers in-depth study of market opportunities and market impact that are stirred due to the COVID-19 pandemic. The detailed research report focuses upon the direct and indirect impact of COVID-19 with new product launches, M&As, supply chain overview, government regulations, strategies adopted by related market, etc.
Sneak peek into the Report:
The report provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market forecast analysis
- Competitive landscape and dynamics: Market share, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends & Key success factors
