openPR Logo
Press release

Oil Storage Market Trends 2018 – 2024 :Denali, Vopak, CST Industries, Ergil, Elixir

05-23-2019 06:25 AM CET | Energy & Environment

Press release from: Global Market Insights, Inc.

Oil Storage Market

Oil Storage Market

Global Market Insights, Inc. present the report on Oil Storage Market evaluates the growth trends of the industry through historical study and estimates future prospects based on comprehensive research. The report extensively provides the market share, growth, trends and forecasts for the period 2018-2024.

Oil Storage Market size will surpass 1.2 billion cubic meters by 2024, as reported in the latest study by Global Market Insights, Inc.

Volatile crude oil prices along with increasing O&G production from geopolitically unstable countries including Iran, Libya and Nigeria will stimulate the market size. For instance, Iran’s crude production in 2018 has risen by 1 % from 2017 and is approaching a nine-year high. The continued mismatch between supply and demand resulting in a global hydrocarbon surplus will further favor the business scenario.

Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/803

180 Pages
316 Market Data Tables
24 Figures & Charts

Increasing investments toward the development of additional storage capacity from refineries to cater the increased demand for high value-added products will propel the market. For instance, in 2017, Klaipeda terminal announced to invest USD 42.9 million to construct six refined oil storages with a capacity of 20,000 cubic meters. Positive outlook toward refurbishment and construction of refinery units will further propel industry growth.

The U.S. market size is anticipated to witness an appreciable growth on account of abundant O&G reserves along with ongoing development of unconventional hydrocarbon resources. According to the Energy Information Administration (EIA), production from unconventional oilfields accounted for over 50% of the total U.S. crude output in 2017.

Make an Inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/803

Growth drivers
Global
• Low crude oil prices
North America
• Increasing energy production rate
Middle East & Africa
• Ongoing expenditure toward O&G projects
Asia Pacific
• Requirement of additional oil storage capacity
Europe
• Increasing oil product trade movement

Aviation fuel in 2017, accounted for over 10% of the overall market. Introduction of several regional connectivity schemes along with growing demand for aviation fuels will propel the industry landscape. According to International Energy Agency (IEA), over 3.5 billion passengers travel annually by commercial planes worldwide. Rapid economic growth coupled with expanding middle-class base, primarily across Asia Pacific will further complement the business outlook.

Abundant natural resources along with growing initiatives toward the exploration and development of undeveloped reserves will fuel the Indonesia market. In 2017, Indonesia held proven reserves of over 150 tcf of natural gas and 7 billion barrels of oil. Introduction of production sharing contracts and tax schemes to support petroleum investments will further strengthen the industry growth.

Growing concerns over maintaining hydrocarbon inventory stock and protecting country’s economy in an energy crisis will stimulate the strategic petroleum reserve oil storage market. In July 2017, Vietnam announced to invest USD 6 billion to construct strategic petroleum reserves by 2020.

Floating roof tank oil storage market is predicted to grow over 3% by 2024. Ability to offer minimized petroleum product losses and lower Volatile Organic Compounds (VOC) emissions will strengthen the product adoption. These tanks are suitable to store medium and low flash point products including aviation fuel, crude, and other middle distillates.

Browse Complete Summary of this report @ https://www.gminsights.com/industry-analysis/oil-storage-market

Europe oil storage market is anticipated to witness growth over 2% by 2024. Growing petroleum trade movement along with increasing merger and acquisition activities among the major companies will augment the industry landscape. In February 2017, Crédit Agricole Assurances acquired 40.1% share of MSSFH, a subsidiary of Pisto to expand its market share in France.

Industry participants across the oil storage market include ZCL Composites, Superior Tank, Synalloy (Palmer), Waterford Tank & Fabrication, Synder, L.F. Manufacturing, Tianjin Anson International Company (TICO), Roth, Hydrotherm Engineering Services, Denali, Vopak, CST Industries, Ergil, Elixir and Sri Ranga Industries.

Related Report:
Worldwide Instrument Transformer Market 2024
https://www.globenewswire.com/news-release/2019/03/12/1751549/0/en/Worldwide-Instrument-Transformer-Market-to-hit-8-billion-by-2025-Global-Market-Insights-Inc.html

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com

This release was published on openPR.

Permanent link to this press release:

Copy
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 Oil Storage Market Trends 2018 – 2024 :Denali, Vopak, CST Industries, Ergil, Elixir here

News-ID: 1749986 • Views: 784

More Releases from Global Market Insights, Inc.

Rare Sugar Market Top 3 Trends, Covid-19 Outbreak, Factors Driving, Threats, Cha …
Rising awareness regarding health & fitness and the subsequent shift in consumer trends towards low-calorie sweeteners will boost rare sugar market share over the forecast spell. Recent years have marked a steady rise in the prevalence of cardiovascular ailments, diabetes, and obesity, among other chronic conditions, which have triggered a massive change in consumer perceptions towards health. This in turn has led to a surge in demand for various functional foods
Global Selenium Yeast Market Industry Assessment, Trends, Competitive Landscape, …
The selenium yeast market is anticipated to register substantial gains on account of rising inclination towards organic additives in animal nutrition, with an aim to improve livestock health and production. Consumers are steadily becoming aware of the downsides associated with using synthetic additives. As a result, they are preferring selenium yeast feed grades over other counterparts to provide balanced nutrition to their livestock. According to Global Market Insights Inc estimates
Power Distribution Component Market Share, Size, Trends by 2025 | Leading Key pl …
Global Power Distribution Component Market Report offers market overview, segmentation by types, application, countries, key manufactures, cost analysis, industrial chain, sourcing strategy, downstream buyers, marketing strategy analysis, distributors/traders, factors affecting market, forecast and other important information for key insight. Request a sample of this research report @ https://www.gminsights.com/request-sample/detail/3091 Voltage rating have acted as a standard industry protocol toward the installation of power components reliant on regulatory preference, deployment areas, and the group
Prenatal Vitamin Ingredients Market New Entrants, Risk Factors, Market Expansion …
The rise in the instances of miscarriages on account of poor diet and hygiene will anchor the consumption of prenatal vitamin ingredients. Excessive intake of junk food has resulted in the scarcity of important nutrients in pregnant women that could adversely affect the fetus health and development. Furthermore, prenatal vitamin ingredients possess additional nutritional components that are not so easily sourced from regular food items and products. Prenatal vitamin ingredients can

All 5 Releases


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