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.
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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.
“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.
Browse 15 market data Tables and 132 Figures spread through 136 Pages and an in-depth TOC on “Global Petroleum Tank Cleaning Market”
“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.