TANK CLEANING SERVICE MARKET REPORT OVERVIEW
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The global tank cleaning service market size was USD 528.2 million in 2021 and is projected to touch USD 711.6 million by 2031, exhibiting a CAGR of 3.0% during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with tank cleaning service experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.
Tank cleaning means removal of sludge, sediments, bottoms, and residual material. The cleaning of crude oil tanks, commercial tanks, and refinery tanks completely. In the process, cleaning is essential to make the tanker use for several times.
The tank cleaning is gaining popularity due to huge need for safe and efficient disposable of toxic wastages. Increased environmental concern and growing end-users are focus on safe handling methods. Rise in need to minimize pollution levels across the globe is estimated to boost service demand. Increased industrial activities huge adoption of the service in oil & gas sector is predicted to fuel market growth. The service is used for removing dirt, sludge, and other contaminates from tanks. The service includes several methods such as vacuuming, dragging, and skimming. High adoption of the service in textiles and pharmaceutical sector is anticipated to accelerate market growth in the forthcoming years. Increased inclination towards green manufacturing processes is estimated to fuel market progress. Increased number of multinational companies globally is predicted to boost market progress. In addition, growing industrial development projects and huge government spending is anticipated to drive market growth in the upcoming years. On the contrary, higher costs of the service is estimated to hinder market growth. Regular maintenance is predicted to harm product demand.
COVID-19 Impact: Lower Industrial Activities and Government Regulations to Harm Market Growth
Closure of industrial sector due to lockdown restriction hamper market growth. Government regulations and strict policy to hamper market growth. Travel ban lower the service demand. Fluctuation of raw material prices and other factors affected market growth.
LATEST TRENDS
"High Need for Water Tank Cleaning to Fuel Market Growth "
Increased need for water tank cleaning is predicted to fuel market growth. The tank is used to store water. Huge need to consume safe and clean water is estimated to fuel market growth. With the help of regular cleaning it will provide high-quality water storage. Increased adoption of tank service and high need to transport water from one place to another is estimated to drive market growth. Increased urbanization and rise in adoption of advanced technology is expected to fuel tank cleaning service lmarket growth in the upcoming years.
TANK CLEANING SERVICE MARKET SEGMENTATION
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- By Type
Based on type, the market is divided into manual, cleaning service, and automated cleaning service.
Automated cleaning service is expected to be the top part of type segmentation
- By Application
Based on the application, the market is divided into crude oil tanks, refinery, tanks, commercial tank, and other.
Crude oil tanks are expected to be the top part of application segmentation.
DRIVING FACTORS
"Huge Adoption in Oil & Gas Sector and Growing Industrial Activities to Surge Market Growth"
The increased adoption of the service in oil & gas sector is expected to fuel market growth. Increased industrial activities huge adoption of the service in oil & gas sector is predicted to fuel market growth. The service is used for removing dirt, sludge, and other contaminates from tanks. The service includes several methods such as vacuuming, dragging, and skimming. High adoption of the service in textiles and pharmaceutical sector is anticipated to accelerate market growth in the forthcoming years. Increased inclination towards green manufacturing processes is estimated to fuel market progress. Increased number of multinational companies globally is predicted to boost market progress. In addition, growing industrial development projects and huge government spending is anticipated to drive market growth in the upcoming years.
"Increased Demand for Chemical Tank to Fuel Market Progress"
The chemical tank is usually used to clean because of presence of chemical substances is estimated to fuel market growth. In the cleaning process the service includes washing, draining, and scrubbing if tank from bottom to top. In the process it cleans dirt from critical areas also. Growing adoption of the service in the chemical sector is predicted to fuel market growth. The tank cleaning is gaining popularity due to huge need for safe and efficient disposable of toxic wastages. Increased environmental concern and growing end-users are focus on safe handling methods. Rise in need to minimize pollution levels across the globe is estimated to boost service demand.
RESTRAINING FACTORS
"High Costs of Cleaning Service to Obstruct Market Growth "
The higher costs of the service are estimated to hinder market growth in the upcoming years. Regular maintenance is predicted to harm product demand.
TANK CLEANING SERVICE MARKET REGIONAL INSIGHTS
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"Growing Demand for Green Manufacturing Process in North America to Drive Market Share "
North America is expected to account for the tank cleaning service market share owing to increased demand from industries such as pharmaceuticals, oil & gas, and textiles. Rapid industrial development and increased inclination towards green manufacturing process is expected to fuel market growth. Rise in need to minimize pollution levels across the globe is estimated to boost service demand. Increased industrial activities huge adoption of the service in oil & gas sector is predicted to fuel market growth. The service is used for removing dirt, sludge, and other contaminates from tanks. The service includes several methods such as vacuuming, dragging, and skimming. High adoption of the service in textiles and pharmaceutical sector is anticipated to accelerate market growth in the forthcoming years. Growing construction activities is predicted to fuel market progress.
KEY INDUSTRY PLAYERS
"Leading Players Adopt New Strategies to Stay Competitive"
The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.
List of Market Players Profiled
- Dulsco (U.A.E.)
- National Tank Services (U.S.)
- Clean Harbors (U.S.)
- Tradebe Refinery Services (U.K.)
- Evergreen Industrial Services (U.S.)
- ARKOIL Technologies (Netherlands)
- SWS Environmental Services (U.K.)
- System Kikou Co. (Japan)
- Thompson Industrial Services LLC (U.S.)
- HTS (U.S.)
- Bluestar (U.S.)
- Midwestern Services Inc., (U.S.)
- Veolia Environment (U.S.)
- Dynea
- Jereh Group
- STS
- Kanganyouguan (China)
- Yongxin Cleaning (China)
REPORT COVERAGE
This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 528.2 Million in 2021 |
Market Size Value By |
US$ 711.6 Million by 2031 |
Growth Rate |
CAGR of 3% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2022 |
Historical Data Available |
Yes |
Segments Covered |
Type and Application |
Regional Scope |
Global |
Frequently Asked Questions
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What value is the tank cleaning service market expected to touch by 2031?
The global tank cleaning service market size is expected to reach USD 711.6 million by 2031.
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What CAGR is the tank cleaning service market expected to exhibit by 2031?
The tank cleaning service market is expected to exhibit a CAGR of 3.0% by 2031.
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What are the driving factors of the tank cleaning service market?
Drivers of this tank cleaning service market are huge adoption in oil & gas sector and growing industrial activities and increased demand for chemical tank.
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Which are the top companies operating in the tank cleaning service market?
Dulsco, National Tank Services, Clean Harbors, Tradebe Refinery Services, Evergreen Industrial Services, ARKOIL Technologies, SWS Environmental Services, System Kikou Co, Thompson Industrial Services LLC, HTS, Bluestar, Midwestern Services Inc., Veolia Environment, Dynea, Jereh Group, STS, Kanganyouguan, and Yongxin Cleaning are the top companies operating in the tank cleaning service market.
