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Procurement Market Intelligence Report

Storage Tank Rental
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Storage Tank Rental?

What is the average price of Storage Tank Rental?

This procurement report includes pricing information to help you purchase Storage Tank Rental. 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 Storage Tank Rental 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 Storage Tank Rental 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 Storage Tank Rental?

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 Storage Tank Rental 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 ?

ProcurementIQ estimates that the top four vendors of storage tank rental services account for just under 30.0% of market revenue in 2020, indicating a low level of concentration. The low level of concentration is a reflection of the relatively low barriers to entry for suppliers. Rather than manufacturing storage tanks,... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Additional Services

What other related tools and equipment do you offer for rent?

Is there a discount for bundling these items with my storage tank rental?

Can these items be delivered along with the storage tanks, or do they require separate deliveries?

Do you offer any rent-to-own programs?

Financial Health

What is your company's sales history for the past five years?

Are you currently involved in litigation or facing the threat of litigation?

What is the likelihood that your company will be bought out or merged with another company in the next five years?

How are your other divisions and ventures performing? What impact does their performance have on this division?

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Key elements for every RFP

What should my RFP include?

Project Budget

Buyers should communicate to prospective suppliers when award information results will be provided.

Buyers should disclose the total value of the contract for storage tank rental.

Buyers should indicate what their expectations for payment are, including preferred billing schedule.

Buyers should disclose their expectations for additional costs, such as drop-off fees.

Selection Criteria

Buyers should look for suppliers that have been in business for a long time and have direct experience providing service for similar companies.

Buyers should ask for a list of references from current and former customers.

Buyers should give preference to local suppliers because it will cut costs related to transportation and simplify communication.

For a detailed list of key selection criteria, buyers should reference the Buying-Decision Scorecard section of this report.

Project Schedule

Buyers should communicate to prospective suppliers when award information results will be provided.

Buyers need to provide due dates for any ongoing or scheduled projects.

Buyers should provide general expectations with regards to response time and customer service.

Buyers should list the expected rental schedule once a prospective supplier is chosen.

Evaluate major factors to mitigate risk

How risky is the supply chain?

Suppliers face a moderate level of supply chain risk, the bulk of which stems from their reliance on upstream vendors of storage tanks and oil and gas machinery. These upstream vendors have a significant influence on storage tank rental suppliers, which are forced to accept price increases, particularly local firms... Subscribe to learn more.