ITCO 2023 Survey reveals industry growth of 8.65% in 2022 compared to 7.3% in 2021

ITCO 2023 Survey reveals industry growth of 8.65% in 2022 compared to 7.3% in 2021


The tank container industry has grown significantly in recent years, driven by increasing global demand for bulk liquid and liquefied gas transport.

According to this year’s ITCO Survey of the Global Tank Container Market, a total of 67,865 tank containers were built in 2022, compared to 53,285 new units in the previous year – an increase of some 14,580 units.

The worldwide tank container fleet grew by 8.65 percent in 2022, compared to 7.3 percent in 2021.

This year’s Survey estimates that, at 1 January 2023, the global tank container fleet stood at 801,800 units, compared to 737,935 tanks on 1 January 2022.

During the global Covid-19 pandemic, supply chain disruption led to a shortage of tank containers – and, in turn, a demand by operators and BCOs for equipment. This shortage resulted in a record demand for equipment with tank manufacturers, leasing companies and operators all achieving a particularly successful year in 2022.

Instead of disposing of older tank containers (or taking them out of operational circulation), older tank containers have in many cases been repaired and brought back into service. However, as in previous global recessions, growth in the global tank container fleet could mean an oversupply of equipment this year.

The massive disruption and challenges in the supply chain over the past three years have proved that the tank container can play a critical role in the “just-in-time” business philosophy of the major end users – the shippers.

With large numbers of tank containers – which over the last two years were being held on demurrage by chemical companies on a “just-in-case” basis – now being returned empty to operators, pressure is being put on put on operators and leasing companies to maximise utilisation, and on depots to find storage space.

Over the last year, however, the demand for new tanks resulted in substantial growth in the global tank container fleet – with 2022 being the highest-ever figure in terms of new production.

As in previous Editions, this Survey is intended to analyse the growth in the world’s tank container fleet and the development of tank containers manufacturing on a year- by-year basis. It shows how, numerically, the industry continues to be dominated on a global level by a relatively small number of major tank container operators and leasing companies.

The top 10 tank container operators account for over 281,160 tanks, representing over 49 percent of the global tank container operators’ fleet. The top 10 leasing companies account for 299,300 tanks, representing about 83 percent of the total leasing fleet.

Tank containers owned by shippers, beneficial cargo owners – and a wide range of other industry players – amount to 199,110 tanks. Shippers/BCOs own mostly special tanks, while other industry sectors have a range of standards and specials.

Based on its successful growth in recent years, the industry is continuing to attract smaller players to enter the market – often offering “niche” tank services in niche markets,
such as south-east Asia. However, existing operators also report a greater emphasis on the part of shippers to value relationships as a means to forge loyalty, quality and dependable supplies of tanks, moving away from the erratic spot market and on-line price focused competitive bidding.

As in previous years, this Survey lists those companies which are operating or leasing tank container fleets of over 1000 units. Companies with tank container fleets of less than 1000 units, (about 200 companies) have not been named individually, but an “educated estimate” has been made for the combined fleets.

The International Tank Container Organisation would like to take this opportunity to thank the various companies who have contributed to this study. Your input and information, statistics and ideas are very much appreciated.

For more information visit www.international-tank-container.org/

22nd March 2023