Chemical Injection Skids Market size is expected to reach USD 5 billion by the end of 2036, growing at a CAGR of 4% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of chemical injection skids was USD 2 billion. This growth of the market is poised to be dominated by growing demand for oil & gas. According to projections, the global need for crude oil (including biofuels) globally was over 98 million barrels per day in 2022 and will likely grow to approximately 100 million barrels per day in 2023. Hence, the demand for chemical injection skids is estimated to rise.
Moreover, manufacturers have the chance to satisfy the growing need for chemical injection skids that are specially made to fit the needs of end users. This need may be met through the development of inventive and adaptable skids that are capable of handling a range of chemicals and function in many environments. As a result, the market revenue for chemical injection skids is poised to rise over the coming years.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~4% |
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Base Year Market Size (2023) |
~ USD 2 Billion |
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Forecast Year Market Size (2036) |
~ USD 5 Billion |
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Regional Scope |
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Function (Antifoaming, Corrosion Inhibition, Demulsifying, Scale Inhibition)
The corrosion inhibition segment is predicted to account for 40% share of the global chemical injection skids market during the forecast period. When a metal is exposed to a certain environment, such air or water, a corrosion inhibitor is a chemical solution that is used to decrease the rate of corrosion. Anodic, cathodic, and mixed inhibitors are the three categories into which corrosion inhibitors fall. Furthermore, one of the most prevalent issues in the energy industry is internal pipe corrosion. No matter what kind of material is utilized for constructing pipes, corrosion eventually occurs. The distribution of some goods, like petroleum and other chemicals, cannot be effectively facilitated by corroded pipes. In addition, the environment is endangered by the chemicals emitted during the corrosion process. Furthermore, about 11% of all instances involving pipe leaks and connection damage are caused by internal corrosion. On the other hand, roughly 7% of pipe breakage instances are caused by exterior corrosion. As a result, the segment is projected to observe growth hence further influencing the market expansion.
End-Use (Oil & Gas, Energy & Power, Fertilizer, Chemical & Petrochemical, Water Supply & Water Treatment, Pharmaceutical)
The oil & gas segment is predicted to account for 30% share of the global chemical injection skids market during the forecast period. A comprehensive chemical injection system consists of a number of parts that work together to maximize production in the oil and gas sector. Onshore and offshore, chemical injection systems can be used for a range of enhanced oil recovery applications. Viscosity increasers are injected by these chemical injection packages to enhance a reservoir's sweep and increase oil and gas recovery productivity. Therefore, the market for chemical injection skids is undoubtedly benefiting from the oil and gas industry's explosive rise.
Our in-depth analysis of the global market includes the following segments:
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Function |
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End-Use |
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North American Market Forecasts
The North America chemical injection skids market is predicted to capture the revenue share of 30% during the forecast period. This growth of the market in this region is set to be dominated by rising spending on healthcare. The amount that was spent on health care in the United States went up 4.1% in 2022 to USD 4.5 trillion, or USD 13,493 per person. Health spending represented 17.3 percent of the country's Gross Domestic Product. Hence, the increased demand for chemical injection skids may be positively driven by the necessity for water quality regulations and inspections, which is indicated by the rising costs associated with healthcare. Additionally, it is anticipated that rising refining activity in these nations will increase market demand. More than 20% of the global refining capacity is derived from the United States, Canada, and Mexico, which together make up North America. In this region, the United States possesses almost 80% of the available capacity.
APAC Market Analysis
The Asia Pacific chemical injection skids market is also estimated to have notable growth in the revenue during the forecast period. The major element influencing the market expansion in this region is the rising growth in the energy & power industry is this region. Asia-Pacific's market was formerly led by China and Japan, however, during the projection period, India is anticipated to see robust expansion. Furthermore, the production id chemicals is also surging in this region which is also giving scope for the market to rise. Additionally, the market is also expected to grow over the projected period due to a number of factors, including rising awareness of environmentally friendly wastewater disposal systems, and modernization of existing infrastructure, especially in emerging economies including China, India, and Indonesia.
Author Credits: Smruti Ranjan, Rajrani Baghel
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