The global oil storage market was valued at $12.2 billion in 2020, and is projected to reach $18.4 billion by 2030, growing at a CAGR of 4.3% from 2021 to 2030.
Oil storage is a type of transaction in which a vertically integrated company buys oil for immediate delivery and stores it until the price of oil rises. In addition, petroleum can be transported for refining processes, so this storage can only be short-lived. In addition, oil storage provides protection against short-term fluctuations in the supply of crude oil and its derivatives. In addition, increased oil production has led suppliers to upgrade their inventories and infrastructure to store large amounts of oil.
Oil storage tank terminals are the most important part of the oil and gas supply chain around the world. These terminals are the center of oil and gas trade between countries. Countries that rely primarily on oil imports and overproduce oil all have these terminals. Crude oil and its products are stored for strategic stockpiling or commercial purposes.
Crude oil is used as a raw material for many products manufactured and used all over the world. In recent years, the automotive industry has grown exponentially, with new products such as liquefied natural gas being used more and more in this area. LPG adoption has been a very small percentage over the last decade. Nevertheless, their use is increasing at a healthy pace in developing countries. Therefore, the demand for storage terminals under high pressure is increasing.
The growing penetration of the market can be credited to high degree of containment of these products, which minimizes the risks of a fire incident. Moreover, declining installation costs of fixed roof designs are expected to boost the growth of the fixed roof tank segment in the market growth. The open tank storage is prone to fire incidents and product contamination, thus it is used to store liquids with negligible evaporative losses. Middle East and Africa have huge natural resources, hence there is a huge production value of crude oil. Efficient refinery throughput and proliferating oil production are expected to drive the market in countries such as UAE, Saudi Arabia, and Kuwait. Demand for petroleum and distillate in the commercial and industrial sectors is expected to further drive the growth of the market in LAMEA.
The global oil storage market is segmented into type, material, product design, and region.
Depending on type, the global oil storage market is categorized into crude oil, gasoline, aviation fuel, naphtha, diesel, kerosene, and liquefied petroleum gas. In terms of value, the crude oil segment accounted for the largest share in 2020. By material, the market is bifurcated into steel, carbon steel, and fiberglass-reinforced plastic. In terms of value, carbon steel segment accounted for the largest share in 2020. On the basis of product design, the market is bifurcated into open top tank, fixed roof tank, floating roof tank, and others. In terms of value, floating roof tank segment accounted for the largest share in 2020.
Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. LAMEA accounted for the largest share of the market in 2020, with Asia-Pacific being the fastest growing region. The major companies profiled in this report include Belco manufacturing co., Inc., Brooge Energy, Containment Solutions, Inc., LBC Tank Terminals, L. F. Manufacturing, Inc., Oiltanking GmbH, Odfjell SE, Puma Energy, Royal Vopak, and Vitol.
In addition to the abovementioned companies, Energy Transfer Partners, LP (Sunoco Logistics Partners), Synalloy Corporation, Columbian TecTank, Inc., Poly Processing Company, Inc., Red Ewald Inc., and ZCL Composites Inc. are competing for the share of the market through product launch, joint venture, partnership, and expanding the production capabilities to meet the future demand for the oil storage.
2. Brooge Energy
3. Containment Solutions, Inc.
4. LBC Tank Terminals
5. L. F. Manufacturing, Inc.
6. Oiltanking GmbH
7. Odfjell SE
8. Puma Energy
9. Royal Vopak
10. Vitol
Oil storage is a type of transaction in which a vertically integrated company buys oil for immediate delivery and stores it until the price of oil rises. In addition, petroleum can be transported for refining processes, so this storage can only be short-lived. In addition, oil storage provides protection against short-term fluctuations in the supply of crude oil and its derivatives. In addition, increased oil production has led suppliers to upgrade their inventories and infrastructure to store large amounts of oil.
Oil storage tank terminals are the most important part of the oil and gas supply chain around the world. These terminals are the center of oil and gas trade between countries. Countries that rely primarily on oil imports and overproduce oil all have these terminals. Crude oil and its products are stored for strategic stockpiling or commercial purposes.
Crude oil is used as a raw material for many products manufactured and used all over the world. In recent years, the automotive industry has grown exponentially, with new products such as liquefied natural gas being used more and more in this area. LPG adoption has been a very small percentage over the last decade. Nevertheless, their use is increasing at a healthy pace in developing countries. Therefore, the demand for storage terminals under high pressure is increasing.
The growing penetration of the market can be credited to high degree of containment of these products, which minimizes the risks of a fire incident. Moreover, declining installation costs of fixed roof designs are expected to boost the growth of the fixed roof tank segment in the market growth. The open tank storage is prone to fire incidents and product contamination, thus it is used to store liquids with negligible evaporative losses. Middle East and Africa have huge natural resources, hence there is a huge production value of crude oil. Efficient refinery throughput and proliferating oil production are expected to drive the market in countries such as UAE, Saudi Arabia, and Kuwait. Demand for petroleum and distillate in the commercial and industrial sectors is expected to further drive the growth of the market in LAMEA.
The global oil storage market is segmented into type, material, product design, and region.
Depending on type, the global oil storage market is categorized into crude oil, gasoline, aviation fuel, naphtha, diesel, kerosene, and liquefied petroleum gas. In terms of value, the crude oil segment accounted for the largest share in 2020. By material, the market is bifurcated into steel, carbon steel, and fiberglass-reinforced plastic. In terms of value, carbon steel segment accounted for the largest share in 2020. On the basis of product design, the market is bifurcated into open top tank, fixed roof tank, floating roof tank, and others. In terms of value, floating roof tank segment accounted for the largest share in 2020.
Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. LAMEA accounted for the largest share of the market in 2020, with Asia-Pacific being the fastest growing region. The major companies profiled in this report include Belco manufacturing co., Inc., Brooge Energy, Containment Solutions, Inc., LBC Tank Terminals, L. F. Manufacturing, Inc., Oiltanking GmbH, Odfjell SE, Puma Energy, Royal Vopak, and Vitol.
In addition to the abovementioned companies, Energy Transfer Partners, LP (Sunoco Logistics Partners), Synalloy Corporation, Columbian TecTank, Inc., Poly Processing Company, Inc., Red Ewald Inc., and ZCL Composites Inc. are competing for the share of the market through product launch, joint venture, partnership, and expanding the production capabilities to meet the future demand for the oil storage.
KEY MARKET SEGMENTS
By Type
- Crude oil
- Gasoline
- Aviation fuel
- Naphtha
- Diesel
- Kerosene
- Liquefied Petroleum Gas (LPG)
By Materials
- Steel
- Carbon Steel
- Fiberglass-reinforced Plastic (FRP)
By Materials
- Open Top Tank
- Fixed Roof Tank
- Floating Roof Tank
- Others
- North America
- US
- Canada
- Mexico
- Europe
- Russia
- UK
- Denmark
- Italy
- Norway
- Rest of Europe
- Asia-Pacific
- China
- India
- Australia
- Malaysia
- Indonesia
- Rest Of Asia Pacific
- LAMEA
- Brazil
- Nigeria
- KSA
- Rest of LAMEA
Key players in the global Oil storage market are:
1. BELCO MANUFACTURING CO. INC.2. Brooge Energy
3. Containment Solutions, Inc.
4. LBC Tank Terminals
5. L. F. Manufacturing, Inc.
6. Oiltanking GmbH
7. Odfjell SE
8. Puma Energy
9. Royal Vopak
10. Vitol
Table of Contents
Chapter 1: Introduction1.1. Report Description
1.2. Key Market Segments
1.3. Key Benefits to the Stakeholders
1.4. Research Methodology
1.4.1. Secondary Research
1.4.2. Primary Research
1.4.3. Analyst Tools and Models
Chapter 2: Executive Summary
2.1. Key Findings of the Study
2.2. Cxo Perspective
Chapter 3: Market Overview
3.1. Market Definition and Scope
3.2. Key Findings
3.2.1. Top Winning Strategies
3.2.2. Top Investment Pockets
3.3. Porter’S Five Forces Analysis
3.4. Top Player Positioning
3.5. Market Dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. Covid-19 Impact Analysis on the Market
3.7. Pricing Analysis
3.8. Key Regulation Analysis
3.9. Regulatory GuidelinesChapter 4: Oil Storage Market, by Type
4.1 Overview
4.2 Crude Oil
4.2.1 Key Market Trends, Growth Factors and Opportunities
4.2.2 Market Size and Forecast, by Region
4.2.3 Market Analysis by Country
4.3 Gasoline
4.3.1 Key Market Trends, Growth Factors and Opportunities
4.3.2 Market Size and Forecast, by Region
4.3.3 Market Analysis by Country
4.4 Aviation Fuel
4.4.1 Key Market Trends, Growth Factors and Opportunities
4.4.2 Market Size and Forecast, by Region
4.4.3 Market Analysis by Country
4.5 Naphtha
4.5.1 Key Market Trends, Growth Factors and Opportunities
4.5.2 Market Size and Forecast, by Region
4.5.3 Market Analysis by Country
4.6 Diesel
4.6.1 Key Market Trends, Growth Factors and Opportunities
4.6.2 Market Size and Forecast, by Region
4.6.3 Market Analysis by Country
4.7 Kerosene
4.7.1 Key Market Trends, Growth Factors and Opportunities
4.7.2 Market Size and Forecast, by Region
4.7.3 Market Analysis by Country
4.8 Lpg and Others
4.8.1 Key Market Trends, Growth Factors and Opportunities
4.8.2 Market Size and Forecast, by Region
4.8.3 Market Analysis by Country
Chapter 5: Oil Storage Market, by Material
5.1 Overview
5.2 Steel
5.2.1 Key Market Trends, Growth Factors and Opportunities
5.2.2 Market Size and Forecast, by Region
5.2.3 Market Analysis by Country
5.3 Carbon Steel
5.3.1 Key Market Trends, Growth Factors and Opportunities
5.3.2 Market Size and Forecast, by Region
5.3.3 Market Analysis by Country
5.4 Fiber Reinforced Plastic
5.4.1 Key Market Trends, Growth Factors and Opportunities
5.4.2 Market Size and Forecast, by Region
5.4.3 Market Analysis by Country
Chapter 6: Oil Storage Market, by Product Design
6.1 Overview
6.2 Open Top
6.2.1 Key Market Trends, Growth Factors and Opportunities
6.2.2 Market Size and Forecast, by Region
6.2.3 Market Analysis by Country
6.3 Fixed Roof
6.3.1 Key Market Trends, Growth Factors and Opportunities
6.3.2 Market Size and Forecast, by Region
6.3.3 Market Analysis by Country
6.4 Floating Roof
6.4.1 Key Market Trends, Growth Factors and Opportunities
6.4.2 Market Size and Forecast, by Region
6.4.3 Market Analysis by Country
6.5 Others
6.5.1 Key Market Trends, Growth Factors and Opportunities
6.5.2 Market Size and Forecast, by Region
6.5.3 Market Analysis by Country
Chapter 7: Oil Storage Market, by Region
7.1 Overview
7.2 North America
7.2.1 Key Trends and Opportunities
7.2.2 North America Market Size & Forecast, by Type
7.2.3 North America Market Size & Forecast, by Material
7.2.4 North America Market Size & Forecast, by Product Design
7.2.5 North America Market Size & Forecast, by Country
7.2.5.1 U. S.
7.2.5.1.1 Market Size & Forecast, by Type
7.2.5.1.2 Market Size & Forecast, by Material
7.2.5.1.3 Market Size & Forecast, by Product Design
7.2.5.2 Canada
7.2.5.2.1 Market Size & Forecast, by Type
7.2.5.2.2 Market Size & Forecast, by Material
7.2.5.2.3 Market Size & Forecast, by Product Design
7.2.5.3 Mexico
7.2.5.3.1 Market Size & Forecast, by Type
7.2.5.3.2 Market Size & Forecast, by Material
7.2.5.3.3 Market Size & Forecast, by Product Design
7.3 Europe
7.3.1 Key Trends and Opportunities
7.3.2 Europe Market Size & Forecast, by Type
7.3.3 Europe Market Size & Forecast, by Material
7.3.4 Europe Market Size & Forecast, by Product Design
7.3.5 Europe Market Size & Forecast, by Country
7.3.5.1 Russia
7.3.5.1.1 Market Size & Forecast, by Type
7.3.5.1.2 Market Size & Forecast, by Material
7.3.5.1.3 Market Size & Forecast, by Product Design
7.3.5.2 U. K.
7.3.5.2.1 Market Size & Forecast, by Type
7.3.5.2.2 Market Size & Forecast, by Material
7.3.5.2.3 Market Size & Forecast, by Product Design
7.3.5.3 Denmark
7.3.5.3.1 Market Size & Forecast, by Type
7.3.5.3.2 Market Size & Forecast, by Material
7.3.5.3.3 Market Size & Forecast, by Product Design
7.3.5.4 Italy
7.3.5.4.1 Market Size & Forecast, by Type
7.3.5.4.2 Market Size & Forecast, by Material
7.3.5.4.3 Market Size & Forecast, by Product Design
7.3.5.5 Norway
7.3.5.5.1 Market Size & Forecast, by Type
7.3.5.5.2 Market Size & Forecast, by Material
7.3.5.5.3 Market Size & Forecast, by Product Design
7.3.5.6 Rest of Europe
7.3.5.6.1 Market Size & Forecast, by Type
7.3.5.6.2 Market Size & Forecast, by Material
7.3.5.6.3 Market Size & Forecast, by Product Design
7.4 Asia-Pacific
7.4.1 Key Trends and Opportunities
7.4.2 Asia-Pacific Market Size & Forecast, by Type
7.4.3 Asia-Pacific Market Size & Forecast, by Material
7.4.4 Asia-Pacific Market Size & Forecast, by Product Design
7.4.5 Asia-Pacific Market Size & Forecast, by Country
7.4.5.1 China
7.4.5.1.1 Market Size & Forecast, by Type
7.4.5.1.2 Market Size & Forecast, by Material
7.4.5.1.3 Market Size & Forecast, by Product Design
7.4.5.2 India
7.4.5.2.1 Market Size & Forecast, by Type
7.4.5.2.2 Market Size & Forecast, by Material
7.4.5.2.3 Market Size & Forecast, by Product Design
7.4.5.3 Australia
7.4.5.3.1 Market Size & Forecast, by Type
7.4.5.3.2 Market Size & Forecast, by Material
7.4.5.3.3 Market Size & Forecast, by Product Design
7.4.5.4 Malaysia
7.4.5.4.1 Market Size & Forecast, by Type
7.4.5.4.2 Market Size & Forecast, by Material
7.4.5.4.3 Market Size & Forecast, by Product Design
7.4.5.5 Indonesia
7.4.5.5.1 Market Size & Forecast, by Type
7.4.5.5.2 Market Size & Forecast, by Material
7.4.5.5.3 Market Size & Forecast, by Product Design
7.4.5.6 Rest of Asia-Pacific
7.4.5.6.1 Market Size & Forecast, by Type
7.4.5.6.2 Market Size & Forecast, by Material
7.4.5.6.3 Market Size & Forecast, by Product Design
7.5 LAMEA
7.5.1 Key Trends and Opportunities
7.5.2 LAMEA Market Size & Forecast, by Type
7.5.3 LAMEA Market Size & Forecast, by Material
7.5.4 LAMEA Market Size & Forecast, by Product Design
7.5.5 LAMEA Market Size & Forecast, by Country
7.5.5.1 Brazil
7.5.5.1.1 Market Size & Forecast, by Type
7.5.5.1.2 Market Size & Forecast, by Material
7.5.5.1.3 Market Size & Forecast, by Product Design
7.5.5.2 Nigeria
7.5.5.2.1 Market Size & Forecast, by Type
7.5.5.2.2 Market Size & Forecast, by Material
7.5.5.2.3 Market Size & Forecast, by Product Design
7.5.5.3 Ksa
7.5.5.3.1 Market Size & Forecast, by Type
7.5.5.3.2 Market Size & Forecast, by Material
7.5.5.3.3 Market Size & Forecast, by Product Design
7.5.5.4 Rest of LAMEA
7.5.5.4.1 Market Size & Forecast, by Type
7.5.5.4.2 Market Size & Forecast, by Material
7.5.5.4.3 Market Size & Forecast, by Product Design
Chapter 8: Company Landscape
8.1. Top Winning Strategies
8.2. Product Mapping of Top 10 Player
8.3. Competitive Dashboard
8.4. Competitive Heatmap
8.5 Key Developments
8.5.1. Acquisition
8.5.2. Business Expansion
8.5.3. Agreement
8.5.4. Partnership
8.5.5. Product Launch
Chapter 9: Company Profiles
9.1 Belco Manufacturing Co. Inc.
9.1.1 Company Overview
9.1.2 Company Snapshot
9.1.3 Operating Business Segments
9.1.4 Product Portfolio
9.1.5 Business Performance
9.1.6 Key Strategic Moves and Developments
9.2 Brooge Energy
9.2.1 Company Overview
9.2.2 Company Snapshot
9.2.3 Operating Business Segments
9.2.4 Product Portfolio
9.2.5 Business Performance
9.2.6 Key Strategic Moves and Developments
9.3 Containment Solutions, Inc.
9.3.1 Company Overview
9.3.2 Company Snapshot
9.3.3 Operating Business Segments
9.3.4 Product Portfolio
9.3.5 Business Performance
9.3.6 Key Strategic Moves and Developments
9.4 Lbc Tank Terminals
9.4.1 Company Overview
9.4.2 Company Snapshot
9.4.3 Operating Business Segments
9.4.4 Product Portfolio
9.4.5 Business Performance
9.4.6 Key Strategic Moves and Developments
9.5 L. F. Manufacturing, Inc.
9.5.1 Company Overview
9.5.2 Company Snapshot
9.5.3 Operating Business Segments
9.5.4 Product Portfolio
9.5.5 Business Performance
9.5.6 Key Strategic Moves and Developments
9.6 Oiltanking GmbH
9.6.1 Company Overview
9.6.2 Company Snapshot
9.6.3 Operating Business Segments
9.6.4 Product Portfolio
9.6.5 Business Performance
9.6.6 Key Strategic Moves and Developments
9.7 Odfjell Se
9.7.1 Company Overview
9.7.2 Company Snapshot
9.7.3 Operating Business Segments
9.7.4 Product Portfolio
9.7.5 Business Performance
9.7.6 Key Strategic Moves and Developments
9.8 Puma Energy
9.8.1 Company Overview
9.8.2 Company Snapshot
9.8.3 Operating Business Segments
9.8.4 Product Portfolio
9.8.5 Business Performance
9.8.6 Key Strategic Moves and Developments
9.9 Royal Vopak
9.9.1 Company Overview
9.9.2 Company Snapshot
9.9.3 Operating Business Segments
9.9.4 Product Portfolio
9.9.5 Business Performance
9.9.6 Key Strategic Moves and Developments
9.10 Vitol
9.10.1 Company Overview
9.10.2 Company Snapshot
9.10.3 Operating Business Segments
9.10.4 Product Portfolio
9.10.5 Business Performance
9.10.6 Key Strategic Moves and Developments
List of Tables
Table 01. Global Oil Storage Market, by Type, 2020–2030 (Kilotons)
Table 02. Global Oil Storage Market, by Type, 2020–2030 ($Million)
Table 03. Oil Storage Market for Crude Oil, by Region, 2020-2030 (Kilotons)
Table 04. Oil Storage Market for Crude Oil, by Region, 2020-2030 ($Million)
Table 05. Oil Storage Market for Crude Oil, by Country, 2020-2030 ($Million)
Table 06. Oil Storage Market for Gasoline, by Region, 2020-2030 (Kilotons)
Table 07. Oil Storage Market for Gasoline, by Region, 2020-2030 ($Million)
Table 08. Oil Storage Market for Gasoline, by Country, 2020-2030 ($Million)
Table 09. Oil Storage Market for Aviation Fuel, by Region, 2020-2030 (Kilotons)
Table 10. Oil Storage Market for Aviation Fuel, by Region, 2020-2030 ($Million)
Table 11. Oil Storage Market for Aviation Fuel, by Country, 2020-2030 ($Million)
Table 12. Oil Storage Market for Naphtha, by Region, 2020-2030 (Kilotons)
Table 13. Oil Storage Market for Naphtha, by Region, 2020-2030 ($Million)
Table 14. Oil Storage Market for Naphtha, by Country, 2020-2030 ($Million)
Table 15. Oil Storage Market for Diesel, by Region, 2020-2030 (Kilotons)
Table 16. Oil Storage Market for Diesel, by Region, 2020-2030 ($Million)
Table 17. Oil Storage Market for Diesel, by Country, 2020-2030 ($Million)
Table 18. Oil Storage Market for Kerosene, by Region, 2020-2030 (Kilotons)
Table 19. Oil Storage Market for Kerosene, by Region, 2020-2030 ($Million)
Table 20. Oil Storage Market for Kerosene, by Country, 2020-2030 ($Million)
Table 21. Oil Storage Market for Lpg and Others, by Region, 2020-2030 (Kilotons)
Table 22. Oil Storage Market for Lpg and Others, by Region, 2020-2030 ($Million)
Table 23. Oil Storage Market for Lpg and Others, by Country, 2020-2030 ($Million)
Table 24. Global Oil Storage Market, by Material, 2020–2030 (Kilotons)
Table 25. Global Oil Storage Market, by Material, 2020–2030 ($Million)
Table 26. Oil Storage Market for Stproduct Designl, by Region, 2020-2030 (Kilotons)
Table 27. Oil Storage Market for Stproduct Designl, by Region, 2020-2030 ($Million)
Table 28. Oil Storage Market for Stproduct Designl, by Country, 2020-2030 ($Million)
Table 29. Oil Storage Market for Carbon Stproduct Designl, by Region, 2020-2030 (Kilotons)
Table 30. Oil Storage Market for Carbon Stproduct Designl, by Region, 2020-2030 ($Million)
Table 31. Oil Storage Market for Carbon Stproduct Designl, by Country, 2020-2030 ($Million)
Table 32. Oil Storage Market for Fiber Reinforced Plastic, by Region, 2020-2030 (Kilotons)
Table 33. Oil Storage Market for Fiber Reinforced Plastic, by Region, 2020-2030 ($Million)
Table 34. Oil Storage Market for Fiber Reinforced Plastic, by Country, 2020-2030 ($Million)
Table 35. Global Oil Storage Market, by Product Design, 2020–2030 (Kilotons)
Table 36. Global Oil Storage Market, by Product Design, 2020–2030 ($Million)
Table 37. Oil Storage Market for Open Top, by Region, 2020-2030 (Kilotons)
Table 38. Oil Storage Market for Open Top, by Region, 2020-2030 ($Million)
Table 39. Oil Storage Market for Open Top, by Country, 2020-2030 ($Million)
Table 40. Oil Storage Market for Fixed Roof, by Region, 2020-2030 (Kilotons)
Table 41. Oil Storage Market for Fixed Roof, by Region, 2020-2030 ($Million)
Table 42. Oil Storage Market for Fixed Roof, by Country, 2020-2030 ($Million)
Table 43. Oil Storage Market for Floating Roof, by Region, 2020-2030 (Kilotons)
Table 44. Oil Storage Market for Floating Roof, by Region, 2020-2030 ($Million)
Table 45. Oil Storage Market for Floating Roof, by Country, 2020-2030 ($Million)
Table 46. Oil Storage Market for Others, by Region, 2020-2030 (Kilotons)
Table 47. Oil Storage Market for Others, by Region, 2020-2030 ($Million)
Table 48. Oil Storage Market for Others, by Country, 2020-2030 ($Million)
Table 49. Oil Storage Market, by Region, 2020-2030 (Kilotons)
Table 50. Oil Storage Market, by Region, 2020-2030 ($Million)
Table 51. North America Oil Storage Market, by Type, 2020-2030 (Kilotons)
Table 52. North America Oil Storage Market, by Type, 2020-2030 ($Million)
Table 53. North America Oil Storage Market, by Material, 2020-2030 (Kilotons)
Table 54. North America Oil Storage Market, by Material, 2020-2030 ($Million)
Table 55. North America Oil Storage Market, by Product Design, 2020-2030 (Kilotons)
Table 56. North America Oil Storage Market, by Product Design, 2020-2030 ($Million)
Table 57. North America Oil Storage Market, by Country, 2020-2030 (Kilotons)
Table 58. North America Oil Storage Market, by Country, 2020-2030 ($Million)
Table 59. U.S Oil Storage Market, by Type, 2020-2030 (Kilotons)
Table 60. U.S Oil Storage Market, by Type, 2020-2030 ($Million)
Table 61. U.S Oil Storage Market, by Material, 2020-2030 (Kilotons)
Table 62. U.S Oil Storage Market, by Material, 2020-2030 ($Million)
Table 63. U.S Oil Storage Market, by Product Design, 2020-2030 (Kilotons)
Table 64. U.S Oil Storage Market, by Product Design, 2020-2030 ($Million)
Table 65. Canada Oil Storage Market, by Type, 2020-2030 (Kilotons)
Table 66. Canada Oil Storage Market, by Type, 2020-2030 ($Million)
Table 67. Canada Oil Storage Market, by Material, 2020-2030 (Kilotons)
Table 68. Canada Oil Storage Market, by Material, 2020-2030 ($Million)
Table 69. Canada Oil Storage Market, by Product Design, 2020-2030 (Kilotons)
Table 70. Canada Oil Storage Market, by Product Design, 2020-2030 ($Million)
Table 71. Mexico Oil Storage Market, by Type, 2020-2030 (Kilotons)
Table 72. Mexico Oil Storage Market, by Type, 2020-2030 ($Million)
Table 73. Mexico Oil Storage Market, by Material, 2020-2030 (Kilotons)
Table 74. Mexico Oil Storage Market, by Material, 2020-2030 ($Million)
Table 75. Mexico Oil Storage Market, by Product Design, 2020-2030 (Kilotons)
Table 76. Mexico Oil Storage Market, by Product Design, 2020-2030 ($Million)
Table 77. Europe Oil Storage Market, by Type, 2020-2030 (Kilotons)
Table 78. Europe Oil Storage Market, by Type, 2020-2030 ($Million)
Table 79. Europe Oil Storage Market, by Material, 2020-2030 (Kilotons)
Table 80. Europe Oil Storage Market, by Material, 2020-2030 ($Million)
Table 81. Europe Oil Storage Market, by Product Design, 2020-2030 (Kilotons)
Table 82. Europe Oil Storage Market, by Product Design, 2020-2030 ($Million)
Table 83. Europe Oil Storage Market, by Country, 2020-2030 (Kilotons)
Table 84. Europe Oil Storage Market, by Country, 2020-2030 ($Million)
Table 85. Russia Oil Storage Market, by Type, 2020-2030 (Kilotons)
Table 86. Russia Oil Storage Market, by Type, 2020-2030 ($Million)
Table 87. Russia Oil Storage Market, by Material, 2020-2030 (Kilotons)
Table 88. Russia Oil Storage Market, by Material, 2020-2030 ($Million)
Table 89. Russia Oil Storage Market, by Product Design, 2020-2030 (Kilotons)
Table 90. Russia Oil Storage Market, by Product Design, 2020-2030 ($Million)
Table 91. UK Oil Storage Market, by Type, 2020-2030 (Kilotons)
Table 92. UK Oil Storage Market, by Type, 2020-2030 ($Million)
Table 93. UK Oil Storage Market, by Material, 2020-2030 (Kilotons)
Table 94. UK Oil Storage Market, by Material, 2020-2030 ($Million)
Table 95. UK Oil Storage Market, by Product Design, 2020-2030 (Kilotons)
Table 96. UK Oil Storage Market, by Product Design, 2020-2030 ($Million)
Table 97. Denmark Oil Storage Market, by Type, 2020-2030 (Kilotons)
Table 98. Denmark Oil Storage Market, by Type, 2020-2030 ($Million)
Table 99. Denmark Oil Storage Market, by Material, 2020-2030 (Kilotons
Table 100. Denmark Oil Storage Market, by Material, 2020-2030 ($Million)
Table 101. Denmark Oil Storage Market, by Product Design, 2020-2030 (Kilotons)
Table 102. Denmark Oil Storage Market, by Product Design, 2020-2030 ($Million)
Table 103. Italy Oil Storage Market, by Type, 2020-2030 (Kilotons)
Table 104. Italy Oil Storage Market, by Type, 2020-2030 ($Million)
Table 105. Italy Oil Storage Market, by Material, 2020-2030 (Kilotons)
Table 106. Italy Oil Storage Market, by Material, 2020-2030 ($Million)
Table 107. Italy Oil Storage Market, by Product Design, 2020-2030 (Kilotons)
Table 108. Italy Oil Storage Market, by Product Design, 2020-2030 ($Million)
Table 109. Norway Oil Storage Market, by Type, 2020-2030 (Kilotons)
Table 110. Norway Oil Storage Market, by Type ($Million)
Table 111. Norway Oil Storage Market, by Material, 2020-2030 (Kilotons)
Table 112. Norway Oil Storage Market, by Material, 2020-2030 ($Million)
Table 113. Norway Oil Storage Market, by Product Design, 2020-2030 (Kilotons)
Table 114. Norway Oil Storage Market, by Product Design, 2020-2030 ($Million)
Table 115. Rest of Europe Oil Storage Market, by Type, 2020-2030 (Kilotons)
Table 116. Rest of Europe Oil Storage Market, by Type, 2020-2030 ($Million)
Table 117. Rest of Europe Oil Storage Market, by Material, 2020-2030 (Kilotons)
Table 118. Rest of Europe Oil Storage Market, by Material, 2020-2030 ($Million)
Table 119. Rest of Europe Oil Storage Market, by Product Design, 2020-2030 (Kilotons)
Table 120. Rest of Europe Oil Storage Market, by Product Design, 2020-2030 ($Million)
Table 121. Asia-Pacific Oil Storage Market, by Type, 2020-2030 (Kilotons)
Table 122. Asia-Pacific Oil Storage Market, by Type, 2020-2030 ($Million)
Table 123. Asia-Pacific Oil Storage Market, by Material, 2020-2030 (Kilotons)
Table 124. Asia-Pacific Oil Storage Market, by Material, 2020-2030 ($Million)
Table 125. Asia-Pacific Oil Storage Market, by Product Design, 2020-2030 (Kilotons)
Table 126. Asia-Pacific Oil Storage Market, by Product Design, 2020-2030 ($Million)
Table 127. Asia-Pacific Oil Storage Market, by Country, 2020-2030 (Kilotons)
Table 128. Asia-Pacific Oil Storage Market, by Country, 2020-2030 ($Million)
Table 129. China Oil Storage Market, by Type, 2020-2030 (Kilotons)
Table 130. China Oil Storage Market, by Type, 2020-2030 ($Million)
Table 131. China Oil Storage Market, by Material, 2020-2030 (Kilotons)
Table 132. China Oil Storage Market, by Material, 2020-2030 ($Million)
Table 133. China Oil Storage Market, by Product Design, 2020-2030 (Kilotons)
Table 134. China Oil Storage Market, by Product Design, 2020-2030 ($Million)
Table 135. India Oil Storage Market, by Type, 2020-2030 (Kilotons)
Table 136. India Oil Storage Market, by Type, 2020-2030 ($Million)
Table 137. India Oil Storage Market, by Material, 2020-2030 (Kilotons)
Table 138. India Oil Storage Market, by Material, 2020-2030 ($Million)
Table 139. India Oil Storage Market, by Product Design, 2020-2030 (Kilotons)
Table 140. India Oil Storage Market, by Product Design, 2020-2030 ($Million)
Table 141. Australia Oil Storage Market, by Type, 2020-2030 (Kilotons)
Table 142. Australia Oil Storage Market, by Type, 2020-2030 ($Million)
Table 143. Australia Oil Storage Market, by Material, 2020-2030 (Kilotons)
Table 144. Australia Oil Storage Market, by Material, 2020-2030 ($Million)
Table 145. Australia Oil Storage Market, by Product Design, 2020-2030 (Kilotons)
Table 146. Australia Oil Storage Market, by Product Design, 2020-2030 ($Million)
Table 147. Malaysia Oil Storage Market, by Type, 2020-2030 (Kilotons)
Table 148. Malaysia Oil Storage Market, by Type, 2020-2030 ($Million)
Table 149. Malaysia Oil Storage Market, by Material, 2020-2030 (Kilotons)
Table 150. Malaysia Oil Storage Market, by Material, 2020-2030 ($Million)
Table 151. Malaysia Oil Storage Market, by Product Design, 2020-2030 (Kilotons)
Table 152. Malaysia Oil Storage Market, by Product Design, 2020-2030 ($Million)
Table 153. Indonesia Oil Storage Market, by Type, 2020-2030 (Kilotons)
Table 154. Indonesia Oil Storage Market, by Type, 2020-2030 ($Million)
Table 155. Indonesia Oil Storage Market, by Material, 2020-2030 (Kilotons)
Table 156. Indonesia Oil Storage Market, by Material, 2020-2030 ($Million)
Table 157. Indonesia Oil Storage Market, by Product Design, 2020-2030 (Kilotons)
Table 158. Indonesia Oil Storage Market, by Product Design, 2020-2030 ($Million)
Table 159. Rest of Asia-Pacific Oil Storage Market, by Type, 2020-2030 (Kilotons)
Table 160. Rest of Asia-Pacific Oil Storage Market, by Type, 2020-2030 ($Million)
Table 161. Rest of Asia-Pacific Oil Storage Market, by Material, 2020-2030 (Kilotons)
Table 162. Rest of Asia-Pacific Oil Storage Market, by Material, 2020-2030 ($Million)
Table 163. Rest of Asia-Pacific Oil Storage Market, by Product Design, 2020-2030 (Kilotons)
Table 164. Rest of Asia-Pacific Oil Storage Market, by Product Design, 2020-2030 ($Million)
Table 165. LAMEA Oil Storage Market, by Type, 2020-2030 (Kilotons)
Table 166. LAMEA Oil Storage Market, by Type, 2020-2030 ($Million)
Table 167. LAMEA Oil Storage Market, by Material, 2020-2030 (Kilotons)
Table 168. LAMEA Oil Storage Market, by Material, 2020-2030 ($Million)
Table 169. LAMEA Oil Storage Market, by Product Design, 2020-2030 (Kilotons)
Table 170. LAMEA Oil Storage Market, by Product Design, 2020-2030 ($Million)
Table 171. LAMEA Oil Storage Market, by Country, 2020-2030 (Kilotons)
Table 172. LAMEA Oil Storage Market, by Country, 2020-2030 ($Million)
Table 173. Brazil Oil Storage Market, by Type, 2020-2030 (Kilotons)
Table 174. Brazil Oil Storage Market, by Type, 2020-2030 ($Million)
Table 175. Brazil Oil Storage Market, by Material, 2020-2030 (Kilotons)
Table 176. Brazil Oil Storage Market, by Material, 2020-2030 ($Million)
Table 177. Brazil Oil Storage Market, by Product Design, 2020-2030 (Kilotons)
Table 178. Brazil Oil Storage Market, by Product Design, 2020-2030 ($Million)
Table 179. Nigeria Oil Storage Market, by Type, 2020-2030 (Kilotons)
Table 180. Nigeria Oil Storage Market, by Type, 2020-2030 ($Million)
Table 181. Nigeria Oil Storage Market, by Material, 2020-2030 (Kilotons)
Table 182. Nigeria Oil Storage Market, by Material, 2020-2030 ($Million)
Table 183. Nigeria Oil Storage Market, by Product Design, 2020-2030 (Kilotons)
Table 184. Nigeria Oil Storage Market, by Product Design, 2020-2030 ($Million)
Table 185. Ksa Oil Storage Market, by Type, 2020-2030 (Kilotons)
Table 186. Ksa Oil Storage Market, by Type, 2020-2030 ($Million)
Table 187. Ksa Oil Storage Market, by Material, 2020-2030 (Kilotons)
Table 188. Ksa Oil Storage Market, by Material, 2020-2030 ($Million)
Table 189. Ksa Oil Storage Market, by Product Design, 2020-2030 (Kilotons)
Table 190. Ksa Oil Storage Market, by Product Design, 2020-2030 ($Million)
Table 191. Rest of LAMEA Oil Storage Market, by Type, 2020-2030 (Kilotons)
Table 192. Rest of LAMEA Oil Storage Market, by Type, 2020-2030 ($Million)
Table 193. Rest of LAMEA Oil Storage Market, by Material, 2020-2030 (Kilotons)
Table 194. Rest of LAMEA Oil Storage Market, by Material, 2020-2030 ($Million)
Table 195. Rest of LAMEA Oil Storage Market, by Product Design, 2020-2030 (Kilotons)
Table 196. Rest of LAMEA Oil Storage Market, by Product Design, 2020-2030 ($Million)
Table 197. Key Business Expansion
Table 198. Key New Product
Table 199. Key Acquisition
List of Figures
Figure 01. Key Market Segments
Figure 02. Executive Summary, by Segment
Figure 03. Executive Summary, by Country
Figure 04. Top Investment Pockets, by Country
Figure 05. High Bargaining Power of Suppliers
Figure 06. Moderate Threat of New Entrants
Figure 07. Moderate Threat of Substitutes
Figure 08. Moderate Intensity of Rivalry
Figure 09. High Bargaining Power of Buyers
Figure 10. Top Player Positioning, 2020
Figure 11. Oil Storage Market Dynamics
Figure 12. Oil Storage Market: Value Chain
Figure 13. Global Oil Storage Market, by Type, 2020–2030 ($ Million)
Figure 14. Comparative Share Analysis of Oil Storage Market for Crude Oil, by Country, 2020 & 2030 ($ Million)
Figure 15. Comparative Share Analysis of Oil Storage Market for Gasoline, by Country, 2020 & 2030 ($ Million)
Figure 16. Comparative Share Analysis of Oil Storage Market for Aviation Fuel, by Country, 2020 & 2030 ($ Million)
Figure 17. Comparative Share Analysis of Oil Storage Market for Naphtha, by Country, 2020 & 2030 ($ Million)
Figure 18. Comparative Share Analysis of Oil Storage Market for Diesel, by Country, 2020 & 2030 ($ Million)
Figure 19. Comparative Share Analysis of Oil Storage Market for Kerosene, by Country, 2020 & 2030 ($ Million)
Figure 20. Comparative Share Analysis of Oil Storage Market for Lpg and Others, by Country, 2020 & 2030 ($ Million)
Figure 21. Global Oil Storage Market, by Material, 2020–2030 ($ Million)
Figure 22. Comparative Share Analysis of Oil Storage Market, for Steel, by Country, 2020 & 2030 ($ Million)
Figure 23. Comparative Share Analysis of Oil Storage Market, for Carbon Steel, by Country, 2020 & 2030 ($ Million)
Figure 24. Comparative Share Analysis of Oil Storage Market, for Fiber Reinforced Plastic, by Country, 2020 & 2030 ($ Million)
Figure 25. Oil Storage Market, by Product Design, 2020–2030 ($ Million)
Figure 26. Comparative Analysis of Oil Storage Market, for Open Top, by Country, 2020 & 2030 ($ Million)
Figure 27. Comparative Analysis of Oil Storage Market, for Fixed Roof, by Country, 2020 & 2030 ($ Million)
Figure 28. Comparative Analysis of Oil Storage Market, for Floating Roof, by Country, 2020 & 2030 ($ Million)
Figure 29. Comparative Analysis of Oil Storage Market, for Others, by Country, 2020 & 2030 ($ Million)
Figure 30. U. S. Oil Storage Market Revenue, 2020-2030 ($ Million)
Figure 31. Canada Oil Storage Market Revenue, 2020-2030 ($ Million)
Figure 32. Mexico Oil Storage Market Revenue, 2020-2030 ($ Million)
Figure 33. Russia Oil Storage Market Revenue, 2020-2030 ($ Million)
Figure 34. U. K. Oil Storage Market Revenue, 2020-2030 ($ Million)
Figure 35. Denmark Oil Storage Market Revenue, 2020-2030 ($ Million)
Figure 36. Italy Oil Storage Market Revenue, 2020-2030 ($ Million)
Figure 37. Norway Oil Storage Market Revenue, 2020-2030 ($ Million)
Figure 38. Rest of Europe Oil Storage Market Revenue, 2020-2030 ($ Million)
Figure 39. China Oil Storage Market Revenue, 2020-2030 ($ Million)
Figure 40. India Oil Storage Market Revenue, 2020-2030 ($ Million)
Figure 41. Australia Oil Storage Market Revenue, 2020-2030 ($ Million)
Figure 42. Malaysia Oil Storage Market Revenue, 2020-2030 ($ Million)
Figure 43. Indonesia Oil Storage Market Revenue, 2020-2030 ($ Million)
Figure 44. Rest of Asia-Pacific Oil Storage Market Revenue, 2020-2030 ($ Million)
Figure 45. Brazil Oil Storage Market Revenue, 2020-2030 ($ Million)
Figure 46. Nigeria Oil Storage Market Revenue, 2020-2030 ($ Million)
Figure 47. Ksa Oil Storage Market Revenue, 2020-2030 ($ Million)
Figure 48. Rest of LAMEA Oil Storage Market Revenue, 2020-2030 ($ Million)
Figure 49. Product Mapping of Top 10 Players Source: Company Website,
Figure 50. Competitive Heatmap
Executive Summary
According to a new report titled, Oil storage Market by Type, Material, and Product Design: Global Opportunity Analysis and Industry Forecast, 2020-2030, the global oil storage market size was valued at $12.2 billion in 2020, and is projected to reach $18.4 billion by 2030, growing at a CAGR of 4.3% from 2021 to 2030.Oil storage refers to terminals or tanks used to store processed or produced oil from refineries. Tanks endure the reservoir at several stages of processing and transportation. Wooden storage tanks were utilized during 1980s, which are now substituted by stainless steel, plastic, carbon steel, or reinforced concrete. Downstream operations use huge storage tanks to assemble oil for further processing and marketing. The global oil storage market is driven primarily by continued rise in energy outlook largely coupled with growing concerns about responding to the emergency supply of crude oil. Increase in import and export activities within the oil industry is driving market growth. Logistics and transportation are basic functions in the oil & gas industry. Current players in India, China, Canada, and the Middle East are expanding their ability to process heavy crude oil with more capacity, which is expected to drive growth over the forecast period.
The outbreak of COVID19 is expected to have a reasonable impact on the global oil storage market. With land tanks and storage options nearly full in some major countries, including the U.S. and India, market participants are often looking for opportunities to contribute to the demand for new oil storage alternatives in these areas. Nonetheless, technological advances, investments in storage facility development, and new pipelines to increase tank storage capacity are expected to create potential revenue opportunities for players operating in this market.
Population growth, rise in income levels, and rapid urbanization have created global oil demand, but resource depletion means that most countries in the world are primarily dependent on oil supply imports increase. The world's population is projected to reach approximately 9.8 billion in 2050 and 11.2 billion in 2100, and countries to build these terminals to meet oil demand and income from commercial exploitation will drive the growth of the market. Various products derived from crude oil such as diesel, gasoline, aviation fuel, and kerosene have found huge applications in various sectors. In recent years, the automobile industry has grown rapidly. Navy operations have increased. The aviation industry is keeping pace with the growth of air travel, and the chemical industry is with the introduction of new products. Due to these factors, the demand for diesel, gasoline, and lubricating oil is increasing, which has positive impact on the demand for crude oil, which, in turn, propels the demand for oil storage terminals.
The global oil storage market is segmented into type, material, product design, and region.
Depending on type, the global oil storage market is categorized into crude oil, gasoline, aviation fuel, naphtha, diesel, kerosene, and liquefied petroleum gas. In terms of value, the crude oil segment accounted for the largest share in 2020. By material, the market is bifurcated into steel, carbon steel, and fiberglass reinforced plastic. In terms of value, carbon steel segment accounted for the largest share in 2020. On the basis of product design, the market is bifurcated into open top tank, fixed roof tank, floating roof tank, and others. In terms of value, floating roof tank segment accounted for the largest share in 2020.
Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. LAMEA accounted for the largest share of the market in 2020, with Asia-Pacific being the fastest growing region. The major companies profiled in oil storage industry include Belco manufacturing co., Inc., Brooge Energy, Containment Solutions, Inc., LBC Tank Terminals, L. F. Manufacturing, Inc., Oiltanking GmbH, Odfjell SE, Puma Energy, Royal Vopak, and Vitol.
In addition to the abovementioned companies, there are Energy Transfer Partners, LP. (Sunoco Logistics Partners), Synalloy Corporation, Columbian TecTank, Inc., Poly Processing Company, Inc., Red Ewald Inc., and ZCL Composites Inc. are competing for the share of the market through product launch, joint venture, partnership, and expanding the production capabilities to meet the future demand for the Oil storage in the forecast period.
Impact Of Covid-19 On The Global Oil Storage Market
- Emergence of COVID-19 had a less impact on the growth of the global Oil storage market during this period
- This impact is mostly attributed to the significant disruptions in the raw material transportation, presence of low-labor, led to shutdown of many manufacturing industries led to decline of demand for Oil storage during this period
- The decrease in demand for many non-essential products and shut down of construction has created a negative impact on the development of global oil storage market
- Thus, the abovementioned factors are expected to have negative impact the global Oil storage market growth during the pandemic period
Key Findings Of The Study
- Region wise, LAMEA accounted for the largest oil storage market share in 2020
- On the basis of type, the crude oil segment holds the largest market share in 2020
- Depending on material, the carbon steel segment garnered the major market share in 2020
- By product design, the floating roof tank segment accounted for the largest market share in 2020
Companies Mentioned
- Energy Transfer Partners
- LP. (Sunoco Logistics Partners)
- Synalloy Corporation
- Columbian TecTank, Inc.
- Poly Processing Company, Inc.
- Red Ewald Inc.
- ZCL Composites Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 260 |
| Published | March 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 12.2 billion |
| Forecasted Market Value ( USD | $ 18.4 billion |
| Compound Annual Growth Rate | 4.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 7 |
