Automated Oil Tank Cleaning System Market Size, Share, Growth, and Industry Analysis by Type (Services, and Equipment), By Application (Industry, and Marine), Regional Insights, and Forecast To 2031

Updated On: 01 April 2024

Automated Oil Tank Cleaning System Market Report Overview

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The global automated oil tank cleaning system market size is estimated to be USD 342.6 million in 2021 and is projected to touch USD 499.02 million by 2031, exhibiting a CAGR of 3.8% during the forecast period.

A machine used to process, clean cargo, underground storage tanks, and is known as an automated tank cleaning machine. Tank trucks, barges, railroad cars, food and beverage production facilities, oil tankers, ethanol production facilities, and chemical processing facilities were all included in this. Arthur Butterworth created and received a patent for the first automated tank cleaning device in 1920. In order to reduce the amount of time that employees had to spend within tanks and partially relieve them of a hazardous and hard duty, the machine was created.

While automated tank cleaning machines are highly constructed to exert more force, their operation is similar to that of an irrigation sprinkler. As water is forced through rotating jet nozzles to create a 360° cleaning pattern, the device rotates on two axes. As the water sprays, the substance is sucked out of the tank. Portable cleaning systems are widely utilized for many outdoor applications, as opposed to fixed or permanent Clean-in-Place (CIP) systems, which are used in more hygienic circumstances.

COVID-19 Impact: Lockdown Hampered Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with automated oil tank cleaning system experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The rise in CAGR is attributable to the demand returning to pre-pandemic levels once the pandemic is over.

COVID-19 had a life changing impact globally. The global automated tank cleaning machine market was significantly affected. The virus had various impacts on different markets. Lockdowns were imposed in several nations. This erratic pandemic caused disruptions on all sorts of businesses. Restrictions tightened during the pandemic due to increasing number of cases. Numerous Industries were affected. However, the market for automated tank cleaning machine experienced a drop in demand.

The global automated tank cleaning machine market was severely affected adversely as the lockdown was imposed. The disruptions in supply chain caused a hamper in the production units. This was led due to inaccessibility of manufacturing hubs and service providers. Also, the work force in this industry saw a major decline. Due to the social distancing norms and laws put forth by the governments, people were forced out of the work place. This caused a decline in the global automated tank cleaning machine market share.

However, the virulent pandemic grew awareness on the necessity of hygiene and sanitation. This led to more consistent maintenance of the industries and offices. In order to prevent growth of any harmful microbials, organizations enforced sanitation of connecting pipes. The growing hygiene norms caused a spike in the need for automated tank cleaning machine. This was also contributed by the factor of lack of workforce. The automation of this work led to just a small gathering of people.

LATEST TRENDS

"Technological Developments to Benefit Market Prospects"

According to Express Mobility, Indian Oil Corporation and Genrobotics have teamed up to create robotic equipment for interior tank cleaning and inspection at refineries. The alliance wants to develop robots to clean and maintain petroleum tanks, which is currently time-consuming and dangerous. These machines would guarantee complete no-man entry throughout the refineries. The current Bandicoot robot, which cleans small places, will be improved and enhanced using the newest technology.

Scanjet, a well-known manufacturer of equipment for cleaning marine tanks, has been acquired by Alfa Laval. The agreement was made with the intention of combining sophisticated tank management options with a wide range of tanks. This acquisition would provide a portfolio that would satisfy every requirement for a marine tank cleaning system. The ITAMA system would be integrated with key features such as real time monitoring of tank level, temperature and pressure.

Automated Oil Tank Cleaning System Market Segmentation

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• By Type

Based on type, the market is divided into Services, and Equipment. Services holds a major share of the global market.

• By Application

Based on application, the market is bifurcated into Industry, and Marine. Industry as application holds a major share of the global market.

DRIVING FACTORS

"Rapid Industrialization Drives Market Sales"

Rising industrialization in emerging economies is primarily responsible for the increase in automated tank cleaning machine market sales worldwide. The demand for automated tank cleaning machine will increase due to increased production growth and rising demand from the mining, chemical, and oil industries. To eliminate discrepancies in the production process, it is vital to monitor the tank temperature, leaks, pressure and so on. Modern technology is included into automated tank cleaning machine to ensure things like remote monitoring and predictive maintenance.

"High Investments to Build Market Share"

With the growing economy, it opens several opportunistic avenues for the global automated tank cleaning machine market share. Several nations and oligarchs across the globe are relying on oil fields as a source of revenue. Governments across the world invest huge amount with countries having high oil concentration. They focus on mergers and collaboration with the countries to obtain these products. Hence from the transfer of these products is estimated to spike the global automated tank cleaning machine market size.

RESTRAINING FACTORS

"High Manufacturing Costs to Lessen Market Availability"

There are several factors that could affect the global automated tank cleaning machine market growth. The major hindrance would be caused due to the massive investment costs. However the mines are a one-time investment, but the constant need for its maintenance causes a huge expenditure. However, several industry heads are unaware of the existing technology for cleaning. These shortcomings could impact the adoption of automated tank cleaning machine in the future.

Automated Oil Tank Cleaning System Market Regional Insights

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"North America Dominates the Market as Major Investor"

North American countries are the largest market shareholder for automated tank cleaning machine. This is built upon factors such as huge investments of the governments in the developing countries. These investments are planned for large-scale infrastructure projects. Adding onto this is the growing collaborative measures with countries having high oil presence. Europe is the second major shareholder of the global automated tank cleaning machine market.

KEY INDUSTRY PLAYERS

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• Alfa Laval [Sweden]
• Scanjet Group [Sweden]
• Tradebe [Spain]
• Schlumberger [U.S.]
• ARKOIL Technologies [Netherlands]
• Veolia [France]
• Butterworth Inc [U.S.]
• Jereh Group [China]
• Vaos [Malta]
• Schafer & Urbach [Germany]
• KMT International [U.S]
• Simple Technical Solutions [U.K.]
• Hydrochem Systems [India]
• Orbijet [U.S.]
• China Oil HBP [China]

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.