LONDON--(BUSINESS WIRE)--The automated oil tank cleaning system market in EMEA is expected to grow by USD 43.18 billion as per Technavio. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of over 5%.
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The market is driven by increasing investments in oil storage tanks. In addition, the increasing market for tank cleaning systems as a service is anticipated to boost the growth of the automated oil tank cleaning system market in EMEA.
The US is one of the largest consumers of crude oil produced in the Middle East and African countries. With the adoption of technologies such as hydraulic fracturing and horizontal drilling, there has been a surge in the production of shale oil in the US. This has significantly decreased the export and resulted in the oversupply of crude oil in most of the oil-producing countries. Hence, to accommodate this increased supply, oil-producing countries are increasing investments in expanding storage capacities and installing new tanks. This has increased the demand for automated oil tank cleaning systems, which is driving the growth of the market.
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Major Five Automated Oil Tank Cleaning System Companies in EMEA:
Alfa Laval AB
Alfa Laval AB operates its business through segments such as Energy, Food & Water, Marine, Greenhouse, and Operations & Other. The company offers a wide range of automatic oil tank cleaning systems. Alfa Laval GJ 7, Alfa Laval GJ BB, and Alfa Laval GJ 9 are some of its key offerings.
ARKOIL Technologies Nederland BV
ARKOIL Technologies Nederland BV operates its business through the Tank cleaning and oil recovery segment. The company provides an exclusive non-man entry steam-based tank cleaning and oil recovery system that is compliant with the highest international safety standards.
Butterworth Inc.
Butterworth Inc. operates its business through the Products segment. The company provides various oil tank cleaning machines and components such as K/SK/SSK tank cleaning machine, LT/FT tank cleaning machines, BC/FT tank cleaning machine, LTQ tank cleaning hoses, hoses, couplings, and accessories, etc.
Grupo Tradebe Medioambiente SL
Grupo Tradebe Medioambiente SL operates its business through the Waste management solutions segment. The company offers an exclusive non-man entry steam-based tank cleaning and oil recovery system that is unrivaled throughout the world and compliant with the highest international safety standards.
KMT International Inc.
KMT International Inc. operates its business through the Products segment. The company offers an automated tank cleaning system known as the MegaMacs system. It is a mobile, energy independent solution that is easily adaptable for local conditions and a variety of projects related to cleaning tanks, pits, etc.
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Automated Oil Tank Cleaning System Market Type Outlook (Revenue, USD Billion, 2020-2024)
- Solutions
- Services
Automated Oil Tank Cleaning System Market Application Outlook (Revenue, USD Billion, 2020-2024)
- Downstream
- Midstream
- Upstream
Automated Oil Tank Cleaning System Market Geography Outlook (Revenue, USD Billion, 2020-2024)
- Europe
- Middle East
- Africa
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