Increase in investments in Oil Storage Tanks Expected to Drive Global Automated Oil Tank Cleaning System Market: Ken Research

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An automated tank cleaning machine is a machine or device, used to clean cargo, process, underground storage tanks and similar equipment such as those found in tank trucks, oil tankers, railroad cars, and etc. The rising domestic demand, decreasing accessibility to high-grade crude oil, and monetary profits obtained from low grade crude are some factors responsible for high growth of the market over the forecast period. Crude oil is highly viscous & thicker and has more contaminants, enhancing the increase in demand of crude oil which further creates the demand of automated oil tank cleansing system market. Further, increasing penetration of tank cleaning robots and rise in disposable income are expected to impel the demand for automated oil tank cleaning system over the forecast period.

According to study, “Global Automated Oil Tank Cleaning System Market to reach USD XX billion by 2026” the key companies operating in the global automated oil tank cleaning system market are Alfa Laval, ARKOIL Technologies, Scanjet Group, Veolia Environnement, Tradebe Refinery Services, Jereh Group, Schlumberger, KMT International, Butterworth, Hydrochem, VAOS, Orbijet, China Oil HBP, Schafer Urbach and STS. The key companies are exploring the global market by adopting mergers & acquisitions (M&A), expansions, investments, new services launches, and collaborations as their preferred strategies.

Based on type, automated oil tank cleaning system market is segmented as equipment and services. Based on application, market is segmented as downstream, midstream and upstream. The downstream segment includes refineries and oil terminals sub-segments. The automated oil tank cleaning systems are widely used in refineries to prevent the accumulation of sludge. The segment will continue to grow during the forecasted period as tank cleaning systems are used in the downstream industries to ensure accuracy in custody transfer & data accuracy related to space availability in tanks.

The automated oil tank cleaning system market is driven by increase in application in various end-user industries, followed by rise in demand due to increasing the productivity of the business. However, growth in concern regarding high installation cost and maintenance cost may impact the market. Moreover, growth in standard oil tankers and rise in demand due to adequate performance & multiple benefits such as efficiency in production, time-saving and better utilization are key opportunities for market. Furthermore, growth in technological advancements is a major trend for market.

Based on geography, the North-American, followed by European region dominates the global automated oil tank cleaning system market owing to increase in investments for Research and Development (R&D) process and growth in adoption of the 3D technology in the electronic, healthcare and agriculture sector in the region. Whereas, the Asian-Pacific region is estimated to exhibit substantial growth rate due to rise in advent of new technological innovations in entertainment, industrial automation, healthcare, and consumer electronics over the forecast period. In upcoming years, it is predicted that future of the global market on account of increase in need for non-dedicated tanks to store different petroleum products during the forecast period.

For More Information, click on the link below:-

Global Automated Oil Tank Cleaning System Market Research Report

Related Reports:-

Global Automated Oil Tank Cleaning System Market 2020 by Company, Regions, Type and Application, Forecast to 2025

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Ken Research

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