North America Oil Storage Market Analysis & Industry Forecast 2017-2023, With an Expected CAGR of 4.8% - ResearchAndMarkets.com
The "North
America Oil Storage Market by Type, Material, and Product Design -
Opportunity Analysis and Industry Forecast, 2017-2023" report
has been added to ResearchAndMarkets.com's offering.
The North America oil storage market was valued at $667 million in 2016,
and is projected to reach $931 million in 2023, registering a CAGR of
4.8% from 2017 to 2023.
Oil storage includes large tanks, sea tankers, and underground & above
ground storage facilities to safely store various petroleum products.
These products are majorly oil-based products, which are produced by
distillation, and are used by industries other than the refining
industry. Increase in oil production across the globe has encouraged
suppliers to develop storage infrastructure and inventories for oil
storage.
The major factors that drive the growth of the North America oil storage
market include decrease in crude oil prices across North America, rise
in need for mega refining hub, high degree of product containment, and
increase in import or distribution facilities. However, decline in
production & exploration activities and rise in inventory cost hamper
the market growth.
The crude oil segment accounted for the largest share in 2016, owing to
high usage, applicability, and large amount of production. Furthermore,
the naphtha segment is expected to grow at the highest CAGR from 2017 to
2023, and is anticipated to continue its dominance during the forecast
period.
Companies Profiled:
-
Royal Vopak N.V.
-
Kinder Morgan, Inc.
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Oiltanking GmbH (Marquard & Bahls)
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Buckeye Partners L.P.
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NuStar Energy L.P.
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International-Matex Tank Terminals, Inc.
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Magellan Midstream Partners, L.P.
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Energy Transfer Partners, LP.
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Odfjell SE
Key Topics Covered:
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: North America Oil Storage Market, By Type
Chapter 5: North America Oil Storage Market, By Material
Chapter 6: North America Oil Storage Market, By Product Design
Chapter 7: Oil Storage Market, By Geography
Chapter 8: Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/xnpmzq/north_america_oil?w=4
View source version on businesswire.com: https://www.businesswire.com/news/home/20180704005174/en/
Copyright Business Wire 2018
Source: Business Wire
(July 4, 2018 - 9:44 AM EDT)
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