Global Oil Storage Market Analysis & Industry Forecast 2017-2023, With an Expected CAGR of 4.4% - ResearchAndMarkets.com
The "Oil
Storage Market by Type, Material, and Product Design - Global
Opportunity Analysis and Industry Forecast, 2017-2023" report
has been added to ResearchAndMarkets.com's offering.
The global oil storage market was valued at $3,180 million in 2016 which
is growing at a CAGR of 4.4% from 2017 to 2023 to reach to reach at
$4,307 million by 2023.
Oil storage refers to the mechanism used for the safe storage of
different petroleum products. Oil storage is a type of trade in which
vertically-integrated companies purchase oil for instant delivery, and
store it till the oil price increases. The companies keep the oil in
storage until the price of oil increases. The crude oil and natural gas
are the naturally occurring petroleum resources and are known as
refinery feedstocks, which requires appropriate storage. Petroleum
products are transported to the storage facilities from oilfields and
then to the refineries.
In 2016, LAMEA led the global market, owing to the presence of large oil
reserves, and major export destinations such as Nigeria, Saudi Arabia,
Iran, and UAE. In addition, introduction to newer refineries enables the
rapid growth in demand for these products. The global market is driven
by the growth in need for mega refining hub, import or distribution type
facilities, and high degree of product containment. Initiatives, such as
strategic petroleum reserve for stockpiling large volumes of oil have
enabled the government of the developed as well as the developing
countries to protect the supply from price hikes and stock out
incidents. However, decline in exploration & production activities and
decrease in production investment are expected to impede the market
growth.
The global oil storage market is segmented based on type, material,
product design, and geography. On the basis of type, it is divided into
crude oil, gasoline, aviation fuel, naphtha, diesel, kerosene, and
liquefied petroleum gas (LPG). On the basis of material, it is
categorized into steel, carbon steel, and fiber-reinforced plastic
(FRP). Based on product design, it is classified into open top, fixed
roof, floating roof, and others. Geographically, it is analyzed across
North America, Europe, Asia-Pacific, and LAMEA.
Companies Mentioned:
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ZCL Composites
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Belco Manufacturing Company
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Containment Solutions
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Sunoco Logistics
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Oiltanking GmbH
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Columbian Steel Tank
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Poly Processing
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Synalloy Corporation
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L.F. Manufacturing
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Red Ewald, Inc.
Key Topics Covered:
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Global Oil Storage Market, By Type
Chapter 5: Global Oil Storage Market, By Material
Chapter 6: Global Oil Storage Market, By Product Design
Chapter 7: Global Oil Storage Market, By Geography
Chapter 8: Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/cbwjrr/global_oil?w=4
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