Growing Refinery Capacity to Drive Petroleum Tank Cleaning Market to $ 1 Billion by 2023
Stringent environmental regulations
against sludge disposal and growing adoption of automatic tank cleaning to fuel
global petroleum tank cleaning market through 2023
According to TechSci
Research report “Global Petroleum Tank Cleaning
Market By Type, By Application, By Region, Competition Forecast
& Opportunities, 2013 - 2023’’, the global petroleum tank cleaning
market is projected to cross $ 1 billion by 2023, on account of growing need for
complex refineries coupled with
increasing refinery throughput and rising consumption of petroleum products
across the globe. Moreover, growing crude oil storage capacity,
increasing investments in oil tank storage by oil traders and surging exports
of Naphtha to Asia-Pacific countries are further likely to steer growth in global petroleum tank cleaning market during the
forecast period. CLEAN HARBORS INC., TRADEBE, Balmer Lawrie &
Co. Ltd., Enva Group and Triumvirate Environmental are some of the major market
players.
Browse 15
market data Tables and 132 Figures spread through 136 Pages and an in-depth
TOC on "Global
Petroleum Tank Cleaning Market"
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In terms of type, the global
petroleum tank cleaning market is dominated by manual tank cleaning, as this type of petroleum tank cleaning is mandatory. Moreover, crude
oil tank segment accounted for the largest market share in 2017 and is likely
to maintain its market dominance during the forecast period, as these tanks
have the largest storage capacity and require sludge removal cleaning services
frequently. Asia-Pacific is the largest demand generating region for petroleum
tank cleaning services, globally, owing to the presence of largest oil
consuming countries such as China, India, Japan and South Korea.
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“In 2017, the global crude oil
production stood at 92.6 million barrels per day as compared to 92 million
barrels per day in 2016. This is due to growing exploration activities and
increasing demand for crude oil across the globe. Moreover, refinery throughput
increased from 80.3 million barrels per day in 2016 to 81.9 million barrels per
day in 2017. As refinery throughput is growing across the globe, demand for refinery
oil tank cleaning services is likely to increase over the course of next five
years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“Global Petroleum Tank Cleaning Market By
Type, By Application, By Region, Competition Forecast & Opportunities, 2013
- 2023” has evaluated
the future growth potential of global petroleum tank cleaning market and
provides statistics and information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decision. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in the global
petroleum tank cleaning market.
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