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Procurement Market Intelligence Report

Field-Erected Tanks
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Field-Erected Tanks?

What is the average price of Field-Erected Tanks?

This procurement report includes pricing information to help you purchase Field-Erected Tanks. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of Field-Erected Tanks been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase Field-Erected Tanks yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing Field-Erected Tanks?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Field-Erected Tanks with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Find the vendor to meet your needs

Where can I purchase Field-Erected Tanks?

Field-erected tanks can be procured from an estimated 650 suppliers, 45.8% of which have fewer than 20 employees. ProcurementIQ estimates that the top four vendors of field-erected tanks, Chicago Bridge & Iron Company (CB&I), Tanco Engineering, GreenBerry Industrial and Fisher Tank Company, account for less than 30.0% of market share,... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Work Routine

How familiar are you with the weather in this area and its impact on construction projects?

Will your company's backlog create a delay in our project's completion?

How often can I expect progress reports?

Will you be working on multiple projects during this time or just our project?

How are you planning on organizing this project in terms of milestones?

Cost Overruns

Does handling the project from the planning or design phase eliminate the risk of cost overruns?

In your experience, have you been able to accurately budget contingency amounts?

Have you had challenges staying within the budget of a contract? If so, why and how did you handle it?

What cost-saving measures do you employ at your firm?

How do you balance cost savings with maintaining high-quality work?

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Key elements for every RFP

What should my Field-Erected Tanks RFP include?

Project Budget

Buyers should specify their budget for each individual tank as well as a total budget involving cost of labor, future maintenance services, and additional parts.

Buyers should break down their total budget based on per hour service rates and rate per tank.

Buyers should include a general payment schedule.

For help creating a budget, buyres can reference the Benchmark Price and Total Cost of Ownership sections of this report.

Selection Criteria

Buyers should select a vendor who is able to build tanks meeting the buyer's quality and budgetary requirements.

Buyers should select a vendor who has a track record of reliability as shown in previous client references.

Buyers should select a vendor who is financially stable enough to remain operating throughout the duration of the contract.

Buyers should create a selection criteria weight key pricing and quality factors. For more information, buyers can reference the Buying-Decision Scorecard section of this report.

Project Schedule

Buyers should provide bidders with the project timeline and include all relevant dates.

Buyers should note all relevant dates in the RFP process and when final bid awards will be announced.

Buyers should look to schedule periodic maintenance on field-erected tanks on behalf of the vendor in order to maximize the life of their investment.

Evaluate major factors to mitigate risk

How risky is the Field-Erected Tanks supply chain?

Buyers of field-erected tanks face a moderate degree of supply chain risk. Suppliers rely heavily on iron and steel manufacturers, which typically carry a high level of risk. The world price of steel is subject to significant price fluctuations due to changes in global demand for raw materials, which have... Subscribe to learn more.

HIGH

MEDIUM

LOW