The automated oil tank cleaning system market in EMEA share is expected to increase by USD 33.01 bn from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 4.59%.
This automated oil tank cleaning system market in EMEA research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the automated oil tank cleaning system market in EMEA segmentation by type (solutions and services), application (downstream, midstream, and upstream), and geography (Middle East and Africa). The automated oil tank cleaning system market in EMEA report also offers information on several market vendors, including Alfa Laval AB, ARKOIL Technologies Nederland BV, Butterworth Inc., Grupo Tradebe Medioambiente SL, KMT International Inc., Orbijet Inc., Oreco AS, Scanjet Systems AB, Schlumberger Ltd., and VEOLIA ENVIRONNEMENT SA among others.
What will the Automated Oil Tank Cleaning System Market In EMEA Size be During the Forecast Period?
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Automated Oil Tank Cleaning System Market In EMEA: Key Drivers, Trends, and Challenges
The increasing extraction of low-grade crude that accumulates more sludge is notably driving the automated oil tank cleaning system market in EMEA growth, although factors such as increasing demand for crude oil in Asia may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automated oil tank cleaning system market in the EMEA industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Automated Oil Tank Cleaning System Market In EMEA Driver
Increasing extraction of low-grade crude that accumulates more sludge is a major driver fueling the automated oil tank cleaning system market growth in EMEA. Increasing domestic demand and decreasing accessibility to high-grade crude oil have compelled the producing countries to extract heavy oil that was once considered uneconomical. Saudi Arabia, Kuwait, Bahrain, and Oman have low-grade crude resources and are putting efforts to convert them into monetary profits. A few heavy oil-producing fields in the Middle East are as follows: Mukhaizna field in Oman extracts oil up to 120,000 barrels/day, with enhanced oil recovery methodsRatqa oil field produces 60,000 barrels/day with primary oil recovery methodsManifa oilfield in Saudi Arabia produces 900,000 barrels/day with primary recovery methods. Increased technological innovations, such as cracking and high-temperature distillation that can produce refined products from heavy products, have increased the viability of heavy crude oil. The characteristics of heavy crude oil are such that a lot of sludge gets accumulated at the base of oil tankers carrying this crude oil. The heavy crude oil is highly viscous, thicker, and has more contaminants compared with high American Petroleum Institute (API) gravity crude oil. It is expected that, as crude oil prices will increase by the end of 2021 and crude oil demand is increasing, more investments will be made in the extraction and transportation of heavy crude. Owing to these factors, there will be more demand for oil tankers, driving the demand for automated oil tank cleaning systems over the forecast period in the region.
Key Automated Oil Tank Cleaning System Market In EMEA Trend
The Increasing market for tank cleaning systems as a service is a major trend influencing the automated oil tank cleaning system market growth in EMEA. Automated oil tank cleaning systems that not only clean the tank from the inside but also extract hydrocarbons from the sludge have high upfront costs. As a crude oil tank is usually cleaned over a period of 7 to 10 years, there exists an emerging trend of oil and gas players preferring to outsource the cleaning and extraction processes to service providers in the market. Automated oil tank cleaning systems service providers provide automated oil tank cleaning systems that clean the tanks upstream, midstream, and downstream on a contract basis. Service providers are responsible for carrying out operations starting from tank mobilization to taking away the components. Automated oil tank cleaning system manufacturers are also approaching the end-users through their own service teams or through these service providers. Since 2014, as the oil and gas industry has been on a declining trend in terms of net revenues, end-users are largely looking for a service market instead of purchasing the equipment to cope with operational expenditures. Over the forecast period, it is expected that a majority of the end-users will be using these services to get their tanks cleaned, and established automated oil tank cleaning system manufacturers will venture into the cleaning as a service market in the region.
Key Automated Oil Tank Cleaning System Market In EMEA Challenge
Increasing demand for crude oil in Asia is a major hindrance to the automated oil tank cleaning system market growth in EMEA. Asia is the largest crude oil-consuming region in the world, with China and India accounting for the major share. The increase in industrialization and commercialization activities has increased the demand for oil in various uses, primarily for power generation, industry development, and the transportation sector. Production of crude oil will grow in Asian countries, especially China. However, it is expected that this product will compensate for marginal domestic consumption of the respective country, and imports of crude oil will remain prominent in Asian countries. Over the forecast period, it is expected that the US and Canada will witness growth in crude oil production, apart from countries in EMEA. However, major production from these regions will cater to the demand of Europe, and EMEA will remain the major supplier to the Asian market. Thus, it is expected that as the demand for crude oil will increase in Asia, the export of crude oil from sea routes will increase from EMEA over the forecast period. It is expected that as the midstream exports will increase from EMEA to the Asian market, the frequency of oil tankers will increase, or new tankers will be deployed. The decreased period between the voyages and minimum downtime will be an immediate requirement, thereby increasing the demand for automated oil tank systems over the forecast period in the region. Market challenges
This automated oil tank cleaning system market in the EMEA analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Parent Market Analysis
Technavio categorizes the automated oil tank cleaning system market in EMEA as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automated oil tank cleaning system market in EMEA during the forecast period.
Who are the Major Automated Oil Tank Cleaning System Market In EMEA Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Alfa Laval AB
- ARKOIL Technologies Nederland BV
- Butterworth Inc.
- Grupo Tradebe Medioambiente SL
- KMT International Inc.
- Orbijet Inc.
- Oreco AS
- Scanjet Systems AB
- Schlumberger Ltd.
- VEOLIA ENVIRONNEMENT SA
This statistical study of the automated oil tank cleaning system market in the EMEA encompasses successful business strategies deployed by the key vendors. The automated oil tank cleaning system market in the EMEA is fragmented and the vendors are deploying growth strategies such as organic and inorganic strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The automated oil tank cleaning system market in the EMEA forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Automated Oil Tank Cleaning System Market In EMEA Value Chain Analysis
Our report provides extensive information on the value chain analysis for the automated oil tank cleaning system market in the EMEA, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the industrial machinery market includes the following core components:
- Inputs
- Inbound logistics
- Operations
- Outbound logistics
- Marketing and sales
- Service
- Support activities
- Innovation
The report has further elucidated other innovative approaches being followed by service providers to ensure a sustainable market presence.
Which are the Key Regions for Automated Oil Tank Cleaning System Market In EMEA?
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45% of the market’s growth will originate from EMEA during the forecast period. Saudi Arabia, UAE, and Iran (Islamic Republic of Iran) are the key markets for automated oil tank cleaning systems market in the EMEA in Europe. Market growth in this region will be faster/slower than the growth of the market in regions.
The increasing market for tank cleaning systems as a service will facilitate the automated oil tank cleaning system market in EMEA growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The spread of COVID-19 in the Middle East was a major challenge to the value chain of the oil and gas industry. Iran, Saudi Arabia, Qatar, Bahrain, Iraq, the UAE, and Kuwait are some of the key countries in the region that were affected by the pandemic. The total number of COVID-19 cases and the number of fatalities in Iran increased to approximately 1.53 million and 59,028, respectively, as of January 2021. The COVID-19 pandemic in 2020 and associated lockdowns had a negative impact on the growth of the automated oil tank cleaning system market in the Middle East. Amid the pandemic, transportation and distribution activities were halted, which had an adverse impact on the oil and gas industry in Middle Eastern countries. Therefore, the automated oil tank cleaning system market in the Middle East witnessed a slump in 2020. However, the market is expected to witness moderate growth during the forecast period once the vaccine distribution is executed at a wide scale and midstream/downstream operations are restored at full capacity.
What are the Revenue-generating Type Segments in the Automated Oil Tank Cleaning System Market In EMEA?
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The automated oil tank cleaning system market in EMEA share growth by the solutions segment will be significant during the forecast period. ?Refineries and oil terminals are the major segments downstream that use automated oil tank cleaning systems. Refineries require tanks of differing volumes to store crude oil and refined products. Cleaning of tanks in the refineries is very important, accumulation of sludge disturbs the accuracy in custody transfer and the data accuracy related to space availability in tanks.
This report provides an accurate prediction of the contribution of all the segments to the growth of the automated oil tank cleaning system market in the EMEA size and actionable market insights on post COVID-19 impact on each segment.
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Automated Oil Tank Cleaning System Market In EMEA Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.59% |
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Market growth 2021-2025 |
$ 33.01 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
4.06 |
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Regional analysis |
Europe, Middle East, Africa, Europe, Middle East, and Africa |
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Performing market contribution |
Europe at 45% |
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Key consumer countries |
Saudi Arabia, Russian Federation, UAE, Iran (Islamic Republic of Iran), and Germany |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Alfa Laval AB, ARKOIL Technologies Nederland BV, Butterworth Inc., Grupo Tradebe Medioambiente SL, KMT International Inc., Orbijet Inc., Oreco AS, Scanjet Systems AB, Schlumberger Ltd., and VEOLIA ENVIRONNEMENT SA |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Automated Oil Tank Cleaning System Market In EMEA In Regional Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive automated oil tank cleaning system market in EMEA growth during the next five years
- Precise estimation of the automated oil tank cleaning system market in EMEA size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the automated oil tank cleaning system market in EMEA industry across Europe, Middle East, Africa, Europe, Middle East, and Africa
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of automated oil tank cleaning system market in EMEA vendors
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