Tank Cleaning Service Market Global Industry Size, Growth, Manufacturers, Segments and Forecast Report

The available capacity of the tank is limited by the amount of the sludge. The tank operator must then clean the tank in order to restore its full capacity. In addition, national inspection regulations require a leak test every five or ten years (double floor). To carry out this inspection, the tank must be completely drained and cleaned. Repair work is often done on this occasion. The petrochemical industry and the tank terminals are increasingly choosing the option of automated instead of manual tank cleaning. Moreover, rising crude oil production globally has led to widespread use of transportation tank to export and import crude oil across various economies which further tends to increase the market share of tank cleaning service over the forecast period. For instance, total world oil production in 2019 averaged 80,622,000 barrels per day. Approximately 68% came from the top ten countries, and an overlapping 44% came from the fourteen current Organization of the Petroleum Exporting Countries (OPEC) members in 2018.

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Crude oil production in the United States has seen a significant increase as the exploration and extraction of oil from its plentiful shale reserves has increased, leading to the largest ever annual increase in a single country. This was due to various new projects, persistent demand for oil and higher prices (USD 14 per barrel higher than in 2017). Oil demand has also started to increase in Russia, the Middle East (with the exception of Iran) and Africa. Further, growing refinery industry in emerging economies such as India, China, Brazil coupled with the rising export and import of refinery products enhanced the market growth over the forecast period (2020-2027). For instance, according to India Brand Equity Foundation (IBEF), India is expected to be one of the world’s largest contributors to non-OECD oil consumption production. Oil imports grew dramatically to USD 87.37 billion in 2017-18, up from USD 70.72 billion in 2016-17. India remains the world’s third-largest oil user in 2017, producing 4.69 million barrels per day (mbpd) of oil in 2017, compared to 4.56 mbpd in 2016. According to India Brand Equity Foundation (IBEF), as of 1 December 2019, India ‘s oil refining capacity was 238.60 million tons, making it the second largest refiner in Asia. Private companies own about 35.36% of the total refining capacity.

The regional analysis of Global Tank Cleaning Service market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific region is expected to dominate the market share owing to the rising petroleum and refinery industry over the forecast period.

Major market player included in this report are:
National Tank Services
Clean Harbors, Inc.
Tradebe Refinery Services
Evergreen North America Industrial Services, Inc
ARKOIL Technologies
SWS Environmental Services
System Kikou Co
Thompson Industrial Services LLC

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Manual Cleaning Service
Automated Cleaning Service

By Application:
Crude Oil Tanks
Refinery Tanks
Commercial Tank

By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Tank Cleaning Service Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

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