Market Size of Oil Sludge Pyrolysis Refining Equipment

Market Size of Oil Sludge Pyrolysis Refining Equipment

Based on the latest industry data, the market for oil sludge pyrolysis refining equipment is in a phase of rapid expansion, with details as follows:

I. Global Market Size

Current Size (2024): Approximately $608 million (≈¥4.35 billion), with some statistics showing it has already exceeded $2.5 billion (≈¥18 billion).

Future Forecast: It is projected to reach $963 million (≈¥6.9 billion) by 2031, with a compound annual growth rate (CAGR) of 6.7%. Other institutions predict a 12% CAGR over the next five years.

II. Chinese Market Size

Current Size (2024): The market size of oil sludge pyrolysis treatment equipment is approximately ¥15 billion, while the overall oil sludge treatment equipment market is around ¥20 billion.

Future Forecast: It is expected to surpass ¥20 billion by 2025 and exceed ¥38 billion by 2030, maintaining a CAGR of 10% to 17.3%.

III. Growth Drivers

Policy Driver: Carbon neutrality goals and stricter hazardous waste disposal standards are pushing enterprises to accelerate the procurement of compliant equipment.

Demand Pull: Over 10 million tons of annual oil sludge generation in China, coupled with a backlog of existing stock, creates rigid demand.

Technological Maturity: Skid-mounted and intelligent equipment lowers project implementation barriers, further expanding market coverage.