Oil Storage Market Size, Opportunities and Forecast 2022-27 The IMARC Group provides extensive analysis of the oil storage industry covering the market trends, investment opportunities, growth trends, statistics, and industry prospects. The report offers a comprehensive analysis of the industry, which comprises insights on oil storage market size, share, trends, analysis, growth, demand, statistics, and overview. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report. The market is segmented by size and region. The report provides an analysis of the key trends in each sub-segment of the market, along with forecasts at the global and regional level from 2022-2027. The report also includes competitive landscape of major key players in the industry along with emerging trends in the market.
Informed covered in the report:
- Historical market data from 2016-2021
- CAGR of the market during the forecast period 2022-2027
- Detailed information on factors that will drive market growth during the next five years
- Precise estimation of the Keyword market size and its contribution to the parent market
- Upcoming market trends and changes in consumer behavior
- A thorough analysis of the market’s competitive landscape and detailed information on key players
- Comprehensive details of factors that will challenge the growth of smart meters market key players
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The global oil storage market size reached US$ 9.0 Billion in 2021. Oil storage refers to the process of storing processed oil in tanks and terminals. Refineries use special oil storage of different types and sizes to store oils and fluids, including gasoline, LPG, crude oil, aviation fuel, petrol, diesel and naphtha, that are corrosive, toxic and flammable in nature. Oil storage tanks are manufactured from stainless steel, carbon steel, plastic, and reinforced concrete materials. Nowadays, they are available in the form of an open-top tank, fixed roof tank, floating roof tank, and single and double skin variants.
Oil Storage Market Trends:
The global oil storage market is primarily driven by the increasing demand for crude oil and the rapid growth of the oil and gas industry. Oil storage tanks and terminals endure the reservoir at various stages of processing and transportation. In addition, the growing need for mega refining hubs and import facilities and the development of advanced technologies for fabricating more durable tanks to prevent and minimize oil leakages have escalated demand for oil storage globally. Furthermore, governments across countries are taking initiatives like strategic petroleum reserves to stockpile a large volume of oil and protect the supply from price hikes and stock-out incidents are expected to significantly affect the market in the upcoming years. Looking forward, IMARC Group expects the oil storage market to reach US$ 11.5 Billion by 2027, exhibiting a growth rate (CAGR) of 4.07% during 2022-2027.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- 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.
- Ziemann Holvrieka GmbH.
Market Segmentation:
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)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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