Boiler and Tank Manufacturing in Australia - Market Research Report (2013-2028)
Melbourne, Australia
Last Updated: June 2023
ANZSIC C2231Revenue
$1.2bn
Past 5-Year Growth
Profit
$XX.Xm
Employees
5,893
Businesses
1,353
Wages
$XXX.Xm
Boiler and Tank Manufacturing in Australia industry analysis
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.
Trends and Insights
- 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.
- 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 storage tanks tend to be diverse.
- 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 states to be close to their key markets.
- Manufacturers tend to compete on the bases of brand, location and reputation. Standardised products have relatively transparent pricing, while there are significant geographical constrains associated with transporting tanks and boilers.
Industry Overview
Market size and recent performance (2013-2028)
Industry revenue has declined at a CAGR of 1.1 % over the past five years, to reach an estimated $1.2bn in 2023.
Trends and Insights
Challenging demand conditions are cutting into performance
- Various downstream markets demand boiler and tank manufacturers' products and services, like agriculture, construction and mining firms.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to decline over the next five years.
Trends and Insights
Weak demand is set to prevent revenue growth
- Continued drops in key downstream markets are on track to create difficult operating conditions for boiler and tank manufacturers.
Biggest companies in the Boiler and Tank Manufacturing in Australia
| Company | Market Share (%)
2024 | Revenue ($m)
2024 |
|---|---|---|
Ahrens | 80.8 | |
AGL | 57.8 | |
AGL Energy | 57.8 |
To view the market share and analysis for all 10 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
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.
Trends and Insights
Strong downstream demand has fuelled revenue from storage tanks
- Storage tanks are mainly used in agriculture, food and beverage manufacturing, oil and gas production, mining and chemical manufacturing. Firms in these sectors use these tanks to store goods.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Concrete Product Manufacturing in Australia
- Metal Drum, Can and Bin Manufacturing in Australia
Complementors
- Farm and Construction Machinery Wholesaling in Australia
- Mining and Industrial Machinery Wholesaling in Australia
International industries
- Boiler & Heat Exchanger Manufacturing in the US
- Metal Tank Manufacturing in the US
- Boiler & Heat Exchanger Manufacturing in Canada
- Metal Tank Manufacturing in Canada
- Radiator & Boiler Manufacturing in the UK
Table of Contents
About this industry
Industry definition
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.
What's included in this industry?
Packaged boilersWater boilersStorage tanksFuel tanksOther boilersMixing and other tanksCompanies
AhrensAGLAGL EnergyPurchase this report to view all 10 major companies in this industry.
Related Terms
WATER TUBE BOILERSPACKAGED BOILERSBRITISH THERMAL UNITS (BTUS)Industry Code
ANZSIC 2231 - Boiler and Tank Manufacturing in Australia
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
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.
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2013-2022) and forecast (2023-2028)
- Employees, including historical (2013-2022) and forecast (2023-2028)
- Businesses, including historical (2013-2022) and forecast (2023-2028)
- Profit, including historical (2013-2023)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
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...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2023
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2023
- Major market segmentation in 2023
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
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...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2023
Tables
- Number and share of establishments in each region in 2023
- Number and share of revenue each region accounts for in 2023
- Number and share of wages each region accounts for in 2023
- Number and share of employees in each region in 2023
Detailed analysis
- Geographic spread of the industry across Asia Pacific, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
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.
Analyst insights
Manufacturers tend to compete on the bases of brand, location and reputation. Standardised products have relatively transparent pricing, while there are significant geographi...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2018-2023
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
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 ...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2019 through 2023
- Major companies in the industry, including market share, revenue, profit and profit margin in 2023
- Overview of Ahrens's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of AGL's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of AGL Energy's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of revenue, market share and profit margin trend for 7 additional companies
Detailed analysis
- Description and key data for Ahrens, and factors influencing its performance in the industry
- Description and key data for AGL, and factors influencing its performance in the industry
- Description and key data for AGL Energy, and factors influencing its performance in the industry
- Description, key data and performance trends for 7 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Standards apply to manufacturing, designing and constructing boilers and other pressure equipment. Other standards also apply to steel cylinders, gas cylinder vessels and pre...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2013-2028)
- Assistance historical data and forecast (2013-2028)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
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...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2013-2028)
- Revenue per Employee (2013-2028)
- Revenue per Enterprise (2013-2028)
- Employees per Establishment (2013-2028)
- Employees per Enterprise (2013-2028)
- Average Wage (2013-2028)
- Wages/Revenue (2013-2028)
- Establishments per Enterprise (2013-2028)
- IVA/Revenue (2013-2028)
- Imports/Demand (2013-2028)
- Exports/Revenue (2013-2028)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2013-2028)
- IVA (2013-2028)
- Establishments (2013-2028)
- Enterprises (2013-2028)
- Employment (2013-2028)
- Exports (2013-2028)
- Imports (2013-2028)
- Wages (2013-2028)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Australia include:
- Australian Bureau of Statistics
- Australian Taxation Office
- Australian Securities & Investments Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Boiler and Tank Manufacturing industry in Australia in 2024?
The market size of the Boiler and Tank Manufacturing industry in Australia is $1.2bn in 2024.
How many businesses are there in the Boiler and Tank Manufacturing in Australia industry in 2023?
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.
Has the Boiler and Tank Manufacturing industry in Australia grown or declined over the past 5 years?
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.
What is the forecast growth of the Boiler and Tank Manufacturing industry in Australia over the next 5 years?
Over the next five years, the Boiler and Tank Manufacturing industry in Australia is expected to decline.
What are the biggest companies in the Boiler and Tank Manufacturing market in Australia?
The biggest companies operating in the Boiler and Tank Manufacturing market in Australia are Ahrens, AGL and AGL Energy
What does the Boiler and Tank Manufacturing in Australia include?
Packaged boilers and Water boilers are part of the Boiler and Tank Manufacturing industry.
Which companies have the highest market share in the Boiler and Tank Manufacturing in Australia?
The company holding the most market share in Australia is Ahrens.
How competitive is the Boiler and Tank Manufacturing industry in Australia?
The level of competition is moderate and steady in the Boiler and Tank Manufacturing industry in Australia.
