Tanker & Liquid Cargo Trailers
Manufacturers of stainless and aluminum tankers for liquid and dry bulk.
Market snapshot
These figures describe Trailers & Transport Equipment (5.6.18), the segment that Tanker & Liquid Cargo Trailers sits within. They are not figures for Tanker & Liquid Cargo Trailers on its own.
- Market size
- ~$17B
- Growth
- ~9.8%CAGR (2017–22, nominal)
- Companies
- ~466 firms
50.4% of firms have fewer than 20 employees: 235 micro-businesses, below most mandates.
- 20–99
- 15768%
- 100–499
- 4218%
- 500+
- 3214%
Grew nearly 10% a year on the freight boom: capacity was short, carriers ordered heavily, and builders had multi-year backlogs. Freight has since gone into recession and orders with it. This is the most cyclically exposed figure on the page.
NAICS 336212. U.S. Census Bureau, 2022 Statistics of U.S. Businesses; U.S. Census Bureau, 2022 Economic Census.
Business model & economics
Revenue model
Trailer and transport-equipment sales to fleets
Key economics
- Revenue per firm
- $36,626,878
- Revenue per employee
- $377,764
- Employees per firm
- 94.2
- Recurring revenue
- Low–Moderate
- EBITDA margin
- Cyclical with freight demand
- Capex intensity
- Moderate
replacement and fleet cycles
Characteristics
- Scale-driven: payroll is only 14% of revenue, so the cost base is assets, not headcount
- Moderate strategic-buyer pool: 32 firms exceed 500 employees, so a scaled asset has buyers, but not many
- Highly cyclical with freight and trucking activity.
- Growth driven by 2021–22 freight demand and pricing.
- Reefer and lightweight trailers higher-value niches.
NAICS 336212. U.S. Census Bureau, 2022 Statistics of U.S. Businesses; U.S. Census Bureau, 2022 Economic Census.
M&A deal context
Who’s acquiring
- Trailer manufacturers
- Transport-equipment strategics
- PE-backed platforms
What’s driving deals
- Consolidation around scaled trailer makers.
- Freight-cycle and fleet-replacement demand.
- Reefer and lightweight-trailer value.
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