Global Oil Storage Market: Fluctuating Crude Oil Prices to Fuel the Market, says TMR
Read Report Overview @
In the report, Transparency Market Research has estimated that in 2014 the market stood at 1,337 million cubic meter based on volume, which is expected to reach the value of 2,027 million cubic meter by end of 2024, expanding at a steady CAGR of 4.73%.
Geographically, the Middle East and Africa holds a dominating position in the global market owing to the contribution of countries such as Nigeria, Qatar, Oman, UAE, Iran, and Saudi Arabia. This region is expected to grow with a healthy CAGR of 7.91% between 2014 and 2024.
Demand for Steady Supply of Oil and Petroleum boosts the Market
Decline in crude oil prices is one of the prominent factors resulting in growth of the global oil storage market. The unpredictable variations in global rates of natural gases and crude oil are motivating numerous vendors to own high qualities of petroleum fuel and reserve them at storage facilities. This practice allows them to sell their stored fuel when the prices increases, which enables them to relish high profits. Furthermore, as changing prices of crude oil affects various product prices such as lubricants and gasoline, this trend of supplying crude oil at the period of high profit is being followed by numerous vendors. The other trend that has garnered significant traction to the global oil and gas storage is the increase in adoption of alternative fuels for cleaner and greener shipping. Emergence of Liquefied Natural Gas (LNG) powered marine containers due to increasing LNG projects is expected to expand the oil storage market further.
Increasing Inventory Cost Could Hamper Market Growth of Oil Storage
Various national and international regulations have resulted in decline in the exploration and production activities of crude oil. These regulations are further supported by several environmental organizations. Such regulations aimed at reducing activities related to fossil fuels is resulting in decrease in production investment in this market. Furthermore, reduced consumption of fossil fuels and increasing inventory have remained key concerns for the vendors. All these trends could hamper the growth of the overall oil storage market. Nevertheless, expansion of the strategic petroleum reserves segment due to increasing investments is expected to help the market grow at a positive rate over the forecast period. Furthermore, factors such as high degree of product containment, increase in import or distribution type facilities, and the growth in need for mega refining hub are most likely to bolster the global oil storage market.
Request to view Sample Report:
This information is taken from the report, “Oil Storage Market (Storage - Open Top Tanks, Fixed Roof Tanks, and Floating Roof Tanks; Product - Crude Oil, Gasoline, Aviation Fuel, and Middle Distillates; Reserve - Strategic and Commercial) - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2016 - 2024.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
Transparency Market Research
90 State Street,
Albany NY - 12207
USA - Canada Toll Free: 866-552-3453
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Global Oil Storage Market: Fluctuating Crude Oil Prices to Fuel the Market, says TMR here
News-ID: 1043736 • Views: 311
More Releases from Transparency Market Research Reports Analysis
Polysilicon Market Outlook, Competitive Landscape and Forecasts to 2025
Silicon is the second most abundant element found on the Earth. Polysilicon is a pure, stable, and crystalline form of silicon. It also called polycrystalline silicone and poly-Si. It offers properties similar to semiconductors. Polysilicon is employed in solar photovoltaic cells (PV) and electronics industries. It differs from monocrystalline silicon and amorphous silicon in terms of silicon structure. Monocrystalline polysilicon is used in microelectronic devices and is more efficient than
Photonics Sensor Market - Global Industry Analysis 2019
Photonic sensing technology integratestransmission,emission,amplification, deflection and detection of light by optical lasers, instruments and other light sources. It provides cheaper, smaller, faster and lighter components and devices with superior functionality and less energy consumption.Photonics started with the development of the laser and optical fibre for transmission of light beams Photonic sensors have been used in various industrial and laboratories for detecting physical, chemical and biological parameter.Photonic sensors is defined as
Concrete Block and Brick Manufacturing Market Report – key Players, Industry O …
The presence of several native companies and established players who operate globally has rendered the vendor landscape in the global concrete block and brick manufacturing market extremely fragmented. As per a new study by Transparency Market Research (TMR), India alone has nearly 100,000 brick kilns, which is indicative of the intense competition prevailing in the market. “As local companies etch diverse strategies to strengthen their hold, large companies are focusing
Excimer Laser Market: Industry Analysis And Detailed Profiles Of Top Industry Pl …
An excimer laser, also known as exciplex laser, is one of the form of ultraviolet laser which is has major applications in the production of microelectronic equipment and devices, eye surgery, semiconductor based integrated chips or circuits and micromachining. An excimer laser primarily consists of reactive gas, for instance chlorine or fluorine along with noble gas, for example, krypton, argon, xenon. The excimer laser market has been segmented into by
More Releases for Oil
Base Oil Market
Base Oil Market Size Worth $ 48,347.04 Million By 2026 | CAGR: 1.2% The global Base Oil market size is expected to reach USD 48,347.04 million by 2026 according to a new study by WhipSmart MI Research. The report “Base Oil Market by Type (Group I, Group II, Group III, Group IV and Group V), by Application (Automotive Oil, Industrial Oil, Metalworking Fluid, Greases, Hydraulic Oil and Others) and By Regions,
Oil Refining Pumps Market |
The global demand for oil refining pumps is expected to surpass 3 million tons by 2018 end, according to a latest Fact.MR report on oil refining pumps market. Rising oil and gas production, and increase in petroleum-based power generation are driving oil refining pumps demand. The oil supply has sharply increased from Russia, Middle East, and the US, compensating for fall in oil production in Iran and Venezuela. The demand for
Oil Sands - Thematic Research
Oil Sands - Thematic Research Summary Oil sands, an unconventional hydrocarbon resource, holds vast growth potential for crude oil production amid declining output from maturing conventional fields and slowing pace of new discoveries. The oil sands deposits in Alberta, which are among the world's largest hydrocarbon reserves, are playing an influential role in driving the oil and gas industry in Canada. Despite facing severe backlash from environmentalists around the world, there has
Gingelly oil Market
https://www.qandqmarketresearch.com/reports/7431261/gingelly-oil-market-48 The global Gingelly oil market is valued at million US$ in 2018 is expected to reach million US$ by the end of 2025, growing at a CAGR of during 20192025. This report focuses on Gingelly oil volume and value at global level, regional level and company level. From a global perspective, this report represents overall Gingelly oil market size by analyzing historical data and future prospect. Regionally, this report focuses on
Oil & Gas Explosion Lawyer
Concerns about gas and oil explosions and worker safety have been at the forefront of Oklahoma state officials’ minds as they continue to investigate a recent Pittsburg County explosion that left five workers dead and 17 with minor injuries. The explosion has shaken a state that is heavily invested in the fuel industry and has been said to be the worst incident of its kind since the Deepwater Horizon tragedy. Oklahoma
Global Base Oil Market 2016: by Application - Automotive Oil, Industrial Oil, Me …
Base oil is the name given to lubrication grade oils initially produced from refining crude oil (mineral base oil) or through chemical synthesis (synthetic base oil). Base oil have a high boiling point ranging between 550F to 1050F. Base oil can be either paraffinic or naphthenic in nature depending on the chemical structure of the molecules. Go For Sample Report @ http://bit.ly/2bSaaNb Increasing usage of automotive oil for various lubricating applications in