Petroleum Tank Cleaning Market Size, Share, Trends, Growth Report 2032

Petroleum Tank Cleaning Market: Size

The global petroleum tank cleaning market size was worth around USD 3.27 billion in 2023 and is predicted to grow to around USD 4.86 billion by 2032 with a compound annual growth rate (CAGR) of roughly 4.62% between 2024 and 2032.

Request Free Sample

The report covers a forecast and an analysis of the petroleum tank cleaning market on a global and regional level. The study provides historical information from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Million).

Petroleum Tank Cleaning Market: Overview

Petroleum tank cleaning is a sequence of processes to clean thick layers of foreign particles (debris, sand, soil, and metal particles) settled on the inner part of petroleum tanks. These foreign particles form a thick, dark gelatinous layer on the bottom surface and get thicker with time. Eventually, it reduces the tank’s storage capacity and poses a threat to its safety due to the hazardous nature of foreign debris. Hence, petroleum tank cleaning is critically essential to maintain tanks’ storage capacity and ensure their safety during transportation. Similarly, the process prohibits cross-contamination in case the petroleum products in the tank shift from one type to another due to operational purposes.

The study covers the key drivers and restraints of the global petroleum tank cleaning market and provides their impact on the market within the forecast period. Furthermore, the study also includes the analysis of opportunities available in the petroleum tank cleaning market on a global level.

In order to offer the users a comprehensive view of the global petroleum tank cleaning market, we have included a detailed value chain analysis. To understand the competitive landscape within the market, an analysis of Porter’s Five Forces model for the global market has also been included. The study includes a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

Request Free Sample

The study also includes the market share of the key participants operating in the petroleum tank cleaning market across the globe. Moreover, the report covers the strategic development in the market along with acquisitions & mergers, agreements, partnerships, collaborations & joint ventures, and regional growth of key players in the market.

Petroleum Tank Cleaning Market: Growth Drivers

The petroleum tank cleaning market is likely to experience significant growth over the forecast time period, owing to the consistently rising petroleum consumption worldwide. Emerging economies of China, India, and Indonesia have exhibited unprecedented growth in the automotive sector over the last few years. The transportation sector has growth prospects that are directly proportionate to the growth of the petroleum industry, as a large share of the petroleum products market is utilized as fuel by the transportation industry. Flourishing petroleum-based industries, such as petroleum refining, plastic, fertilizer, pharmaceuticals, cosmetics, solvents, and pesticides, have also triggered the petroleum tank cleaning market. However, significant shift of consumers from fuel-run vehicles to electric vehicles and growing number of R&D projects to find petroleum alternatives may impede the petroleum tank cleaning market. Furthermore,  elevated refinery activities globally, especially in the Asia Pacific, will provide the market with innumerable growth opportunities in the upcoming years.

Petroleum Tank Cleaning Market: Segmentation

The study provides a crucial view of the global petroleum tank cleaning market by segmenting the market based on type, application, and region.

By type, the petroleum tank cleaning market includes manual and automatic. In 2023, the manual segment held a larger share of the global market. The automatic segment is projected to show a higher CAGR in the years ahead, as automatic tank cleaning reduces labor cost and delivers an improvised quality of operations within a shorter timeframe.

By application, the petroleum tank cleaning market includes crude oil tank, depot and gas station, refinery oil tank, and others. In 2023, the crude oil tank segment held the largest share of the global market. The refinery oil tank segment is projected to show the highest CAGR in the future.

Petroleum Tank Cleaning Market: Regional Analysis

The regional segment is divided into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. The Asia Pacific was the leader in the global petroleum tank cleaning market in 2023 and is estimated to sustain its leadership in the future as well. This regional dominance can be attributed to the growing crude oil exports to the region, new planned refinery projects, increasing capacity of existing refineries and flourishing regional petroleum-based industries.

Petroleum Tank Cleaning Market: Major Players

Some major players of the petroleum tank cleaning market are:

• Clean Harbors
• Tradebe
• Balmer Lawrie
• Enva Group
• Triumvirate Environmental
• Dulsco Corporate
• Heritage Environmental Services
• Intero Integrity
• Oreco
• National Industrial Maintenance

This report segments the global petroleum tank cleaning market into:

Global Petroleum Tank Cleaning Market: Type Analysis

• Manual
• Automatic

Global Petroleum Tank Cleaning Market: Application Analysis

• Crude Oil Tank
• Refinery Oil Tank
• Depot and Gas Station
• Others

Global Petroleum Tank Cleaning Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa