Fuel Storage Containers Market Insights Covering Market Dynamics and Competitive Scenario through 2028
September 26, 2019 by Amanpreet
Fuel Storage Containers Market in Numbers:
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What are the Key Growth Drivers of the Fuel Storage Containers Market?
What are the Key Challenges Faced by Players in Fuel Storage Containers Market?
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Fuel Storage Containers Market – Competitive Landscape
The fuel storage containers market remains fragmented with numerous companies vying to gain larger shares. The fuel storage containers market leaders such as Mauser Packaging Solutions, Greif, Inc., and SCHÜTZ GmbH & Co. KgaA, collectively account for nearly 40% shares. Expansion of the production capacity, along with establishing a dedicated distribution network across various regions, remain the core strategy of this batch of players.
Leading players leverage customization as the key winning imperative to target the industry-oriented applications. For example, Greif, Inc. expanded its product line, with a novel range of specialty steel and stainless steel drum for storing fuel. Additionally, the company inaugurated a steel drum production plant in Vorsino Industrial Park, in Russia, to accommodate additional production of fuel storage containers. However, the strategies employed by players of another batch of the fuel storage containers market is in contrast with leading players.
Emerging players such as Scepter Canada Inc., Time Technoplast Inc., Hoover Ferguson Group, Inc., and WERIT Kunststoffwerke acquire a share of nearly 8-13% of the fuel storage containers market. These players hold the key of product diversification to unlock novel opportunities in the fuel storage containers market. For instance, WERIT Kunststoffwerke introduced UN and FDA approved intermediate bulk containers for the transportation of high-quality edible oils.
End-Users Continue to Prefer 55 Gallon Fuel Storage Drums
According to Fact.MR study, demand for 55 gallon fuel storage drums are expected to remain preferred among end-users, favored by their multifaceted applications in protecting, storing, and transporting of liquid fuels. Manufacturers have been directing their efforts toward the development of drums using materials such as fiber, plastic, and steel, to target the specific demands of customers, such as fuel storage for lawn movers. With colossal demand for fuel to ensure the seamless operations, the fuel storage containers have been witnessing high demand across a wide range of industry sectors, including chemicals and fertilizers, petroleum and lubricants, food and beverages, pharmaceuticals, building and construction, and paint.
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