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Oil Storage Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Oil Storage Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

  • November 2021
  • 143 pages
  • ID: 6185601
  • Format: PDF
  • IMARC Group

Summary

Table of Contents

The global oil storage market exhibited moderate growth during 2015-2020.

Oil storage refers to tanks and terminals used in oil and gas supply chains for storing processed oil in under or above-ground facilities. Some of the commonly used oil storage tanks include open-top, fixed roof, floating roof, single skin and double skin and bundled tanks. These oil storage tanks are usually manufactured using stainless steel, plastic, carbon steel and reinforced concrete material and act as a reservoir for gasoline, aviation fuel, naphtha, liquified petroleum gas (LPG), crude oil, petrol, diesel and other derivatives. As a result, they find extensive applications across various industries, including transportation, automotive and oil and gas.

Significant growth in the oil and gas industry across the globe is one of the key factors creating a positive outlook for the market growth. With the increasing requirement for mega refining hubs, import and distribution-related facilities, there is a rising demand for efficient oil storage facilities, especially in the developing economies. Furthermore, widespread utilization of strategic petroleum reserves (SPRs) by government organizations for maintaining oil reserves in large volumes and ensuring constant energy supply are providing a thrust to the market growth. With the rising off-shore and on-shore exploratory activities, there is a significant increase in the demand for oil storage installations. Additionally, the utilization of advanced technologies for fabricating more durable steel tanks to prevent and minimize oil leakages during storage is contributing to the market growth. Other factors, including the implementation of favorable government policies, along with cross-border oil trade activities, are anticipated to drive the market further. Looking forward, the analyst expects the global oil storage market to grow at a CAGR of around 5% during the next five years.

Key Market Segmentation:
the analyst provides an analysis of the key trends in each sub-segment of the global oil storage market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, material, product and application.

Breakup by Material:
Steel
Carbon Steel
Fiberglass Reinforced Plastic (FRP)
Others

Breakup by Product:
Open Top
Fixed Roof
Floating Roof
Others

Breakup by Application:
Crude Oil
Middle Distillates
Gasoline
Aviation Fuel
Others

Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Buckeye Partners L.P., CST Industries Inc., Denali Incorporated (NOV Inc.), Energy Transfer LP, LF Manufacturing, Oiltanking GmbH (Marquard & Bahls), Royal Vopak N.V., Shawcor Ltd., Synalloy Corporation, Snyder Industries LLC, VTTI B.V. and Ziemann Holvrieka GmbH.

Key Questions Answered in This Report:
How has the global oil storage market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global oil storage market?
What are the key regional markets?
What is the breakup of the market based on the material?
What is the breakup of the market based on the product?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global oil storage market and who are the key players?
What is the degree of competition in the industry?

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