$1.2bn
$XX.Xm
5,893
1,353
$XXX.Xm
Australian boiler and tank manufacturers provide products to customers across various sectors, including agricultural, construction, manufacturing and mining firms. Demand from commercial and industrial building construction has remained consistent over time, and climbing demand from food product manufacturing, grain growing and mining have supported the industry. Despite these trends, challenging operating conditions have begun to cut into manufacturers' performance. Demand from grain growing has fallen because of a drop in rainfall, reducing firms' need for tanks for storage. Mining division activity has also taken a hit, and combined reduced demand from the current year has caused boiler and tank manufacturers to struggle. High input prices have compounded the difficulties that companies have faced – supply chain disruptions and shortages in the COVID-19 outbreak's aftermath have elevated the domestic price of iron and steel, making key inputs more expensive for manufacturers. Weak demand is limiting manufacturers' ability to pass on these costs to downstream customers, cutting into their profit margins. Overall, revenue is expected to drop at an annualised 1.1% to an estimated $1.2 billion over the five years through 2023-24. Large falls in demand from mining, grain growing, and petroleum and coal product manufacturing have also contributed to a drop in revenue of an expected 11.4% in 2023-24.Operating conditions are set to remain challenging in the coming years. Import penetration is on track to recover as supply chain disruptions ease, and the Australian dollar appreciates to make it cheaper for customers to buy imported products. Domestic manufacturers will continue their shift towards specialised, niche products instead of the relatively standardised products that importers focus on, limiting drops in profit margins. Lower input prices, particularly that for iron and steel, will also aid in alleviating falls in profitability and revenue. However, continuing drops in demand from mining and grain growing firms will mean that many domestic manufacturers will struggle to remain viable. Revenue is forecast to contract at an annualised 2.8% to an estimated $1.0 billion over the five years through 2028-29, as manufacturers find it difficult to content with weaker demand from downstream markets.
Industry revenue has declined at a CAGR of 1.1 % over the past five years, to reach an estimated $1.2bn in 2023.
Market size is projected to decline over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 |
---|---|---|
Ahrens | 80.8 | |
AGL | 57.8 | |
AGL Energy | 57.8 |
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Industry revenue is measured across several distinct product and services lines, including Packaged boilers, Water boilers and Other boilers. Packaged boilers is the largest segment of the Boiler and Tank Manufacturing in Australia.
Strong downstream demand has fuelled revenue from storage tanks
Firms in the industry use heavy-gauge metals to manufacture metal boiler and tank products, like steam boilers, pressure tanks, storage tanks and other metal containers. A variety of downstream industries use these products, particularly in the manufacturing, construction and agriculture sectors.
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ANZSIC 2231 - Boiler and Tank Manufacturing in Australia
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Demand has taken a downward turn for several key downstream markets. Demand from mining and grain growing has taken a hit, creating challenging conditions for manufacturers.
Learn about an industry's products and services, markets and trends in international trade.
Storage tanks have been in demand from agricultural customers, as well as food and beverage manufacturers. These sectors need tanks to store goods, and the markets for storag...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Queensland and Western Australia have a large amount of mining and agricultural activity. This activity means that many boiler and tank manufacturers set up shop in these sta...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Manufacturers tend to compete on the bases of brand, location and reputation. Standardised products have relatively transparent pricing, while there are significant geographi...
Learn about the performance of the top companies in the industry.
Ahrens Group Pty Ltd has been expanding through acquiring other Australian companies. Its acquisitions of Altanks and Taylors Engineering have expanded the company's product ...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Standards apply to manufacturing, designing and constructing boilers and other pressure equipment. Other standards also apply to steel cylinders, gas cylinder vessels and pre...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Weak demand conditions have weakened profit margins for manufacturers. Demand from mining and grain growing has taken a hit after growing in previous years, which has cut int...
Including values and annual change:
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Key data sources in Australia include:
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These sources include:
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The market size of the Boiler and Tank Manufacturing industry in Australia is $1.2bn in 2024.
There are 1,353 businesses in the Boiler and Tank Manufacturing industry in Australia, which has declined at a CAGR of 1.1 % between 2018 and 2023.
The market size of the Boiler and Tank Manufacturing industry in Australia has been declining at a CAGR of 1.1 % between 2018 and 2023.
Over the next five years, the Boiler and Tank Manufacturing industry in Australia is expected to decline.
The biggest companies operating in the Boiler and Tank Manufacturing market in Australia are Ahrens, AGL and AGL Energy
Packaged boilers and Water boilers are part of the Boiler and Tank Manufacturing industry.
The company holding the most market share in Australia is Ahrens.
The level of competition is moderate and steady in the Boiler and Tank Manufacturing industry in Australia.