- Size, Trend, Share, Opportunity Analysis, and Forecast, 2014-2025
Global Oil Storage Market is expected to grow at a CAGR of 4.4% from 2017 to 2025. International Energy Agency (IEA) has made alterations in energy security policies and guidelines, and has urged its member countries to adhere to the rule of minimum oil stockholding. Fluctuating oil & gas production trends have up surged the demand for expanding the storage capacity of the existing refineries to meet the increasing petroleum product demand. This is expected to boost the oil storage market. Moreover, strategic reserves of crude oil and natural gas for protecting economy and maintain national security during energy crisis are anticipated to grow across the globe, leading to the growth of oil storage market during the forecast period.
The Global Oil Storage Market is segmented based on material, fuel, product, and geography. Based on material, the market is categorized into steel, carbon steel, fiberglass reinforced plastic, and others. By fuel, it is classified into crude oil, gasoline, aviation fuel, middle distillates, liquefied natural gas (LNG), and liquefied petroleum gas (LPG). Based on product, the market is divided into open top, fixed roof, and floating roof. Geographic breakdown and deep analysis of each of the aforesaid segments have resulted in the following regions: North America, Europe, Asia-Pacific, and LAMEA.
Oil Storage Market Dynamics:
Oil Storage Market Players:
The top players in the global oil storage market include Belco Manufacturing Company, Containment Solution., CST Industries, Inc., LF Manufacturing, Marquard & Bahls AG, Red Ewald, Inc., Snyder Industries, Inc., Synalloy Corporation, ZCL Composites, and Zepnotek Storage Tanks.
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