Chemical Injection Skids Market size is projected to cross USD 70 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 about USD 2 billion. This market growth is poised to be dominated by growing demand for oil & gas. According to projections, the global need for crude oil 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 functions 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 |
USD 2 Billion |
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Forecast Year Market Size |
USD 70 Billion |
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Regional Scope |
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Function (Antifoaming, Corrosion Inhibition, Demulsifying, Scale Inhibition)
Based on function, the corrosion inhibition segment is anticipated to dominate chemical injection skids market share registering a growth of 40% over the forecast years. When a metal is exposed to a certain environment, such as 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. 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)
In terms of end use, the oil & gas segment is predicted to account for 30% share of the global chemical injection skids market by 2036. A comprehensive chemical injection system consists of several 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 increases 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 chemical injection skids market includes the following segments:
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Function |
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End-Use |
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North American Market Statistics
The North American chemical injection skids market is predicted to gain a revenue share of over 35% 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.
APAC Market Analysis
The chemical injection skids market for the Asia Pacific region is projected to increase substantially registering growth of 25% during the period 2024-2036. The major element influencing the market expansion in this region is the rising growth in the energy & power industry. 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 of chemicals is also surging in this region which is also giving scope for the market to rise.
Author Credits: Rajrani Baghel
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