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

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.

Get a Sample Copy of this Report @ https://www.bigmarketresearch.com/request-sample/1298424?utm_source=oprM8&utm_medium=sj

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.

KEY BENEFITS

This report provides an extensive analysis of the current & emerging market trends and dynamics of the global oil storage market.
In-depth analysis of all regions is conducted by constructing the market estimations for key segments from 2017 to 2023 to identify the prevailing opportunities.
The report assists to understand the strategies adopted by the companies for market expansion.
Evaluation of the competitive landscape is provided to understand the market scenario across various regions.
Extensive analysis is conducted by following key player positioning and monitoring the top competitors within the market framework.

Make an inquiry for purchasing this report @https://www.bigmarketresearch.com/purchase-enquiry/1298424?utm_source=oprM8&utm_medium=sj

KEY MARKET SEGMENTS

By Type

Crude Oil
Gasoline
Aviation Fuel
Naphtha
Diesel
Kerosene
Liquefied Petroleum Gas (LPG)
By Material

Steel
Carbon Steel
Fiberglass Reinforced Plastic (FRP)
By Product Design

Open Top Tank
Fixed Roof Tank
Floating Roof Tank
Others
By Geography

North America
U.S.
Canada
Mexico
Europe
Russia
UK
Denmark
Italy
Norway
Rest of Europe
Asia-Pacific
China
India
Indonesia
Malaysia
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Nigeria
KSA
Rest of LAMEA
LIST OF KEY PLAYERS PROFILED IN THE REPORT

ZCL Composites
Belco Manufacturing Company
Containment Solutions
Sunoco Logistics
Oiltanking GmbH
Columbian Steel Tank
Poly Processing
Synalloy Corporation
L.F. Manufacturing
Red Ewald, Inc.
The other major players in the industry include the following (*these companies are not profiled in the report, but can be added based on interest):

Ziemann Holvrieka GmbH
Snyder Industries
Tuffa Tank
Marquard & Bahls
Royal Vopak N.V.

Get Purchase Discount @https://www.bigmarketresearch.com/request-for-discount/1298424?utm_source=oprM8&utm_medium=sj

About Us:

Big Market Research has a range of research reports from various publishers across the world.
Our database of reports of various market categories and sub-categories would help to find the exact report you may be looking for.
We are instrumental in providing quantitative and qualitative insights on your area of interest by bringing reports from various publishers at one place to save your time and money. A lot of organizations across the world are gaining profits and great benefits from information gained through reports sourced by us.

Contact Us:

Mr. Abhishek Paliwal
5933 NE Win Sivers Drive, #205, Portland,
OR 97220 United States
Direct:+1-971-202-1575
Toll Free:+1-800-910-6452
email help@bigmarketresearch.com

This release was published on openPR.