Press release
What's driving the Growth Oil Storage Market? Prominent Players: CST Industries, ZCL Composites, Synder Industries, Denali Incorporated, Synalloy Corporation, LF Manufacturing, Superior Product Company, Tianjin Anson International, Elixir, Roth Industries
Oil Storage Market
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Ongoing development of unconventional hydrocarbon resources coupled with abundant O&G reserves will fuel the U.S. oil storage market. In 2017, According to EIA, oil production from unconventional reserves contributed for more than 50% of the U.S. crude production in 2017.
Leading Key Players in Oil Storage Market are: CST Industries, ZCL Composites, Inc., Synder Industries, Denali Incorporated, Synalloy Corporation, LF Manufacturing, Superior Product Company, Inc., Tianjin Anson International Co., Ltd., Elixir, Roth Industries Company, Ergil, Vopak, Waterford Product & Fabrication, Sri Ranga Industries
Growth Drivers of Oil Storage Market:
o Global
o Volatile crude oil prices
o North America
o Increasing energy production rate
o Europe
o Increasing oil product trade movement
o Asia Pacific
o Requirement of additional storage capacity
o Middle East & Africa
o Ongoing expenditure toward O&G projects
South Africa oil storage Market is predicted to witness a substantiate growth on account of growing investment toward construction of modern storage facilities to improve their energy security.
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Aviation fuel accounted for more than 10% of the global oil storage market in 2017. Growing transportation sector with several regional connectivity schemes including UDAN will augment the business outlook. For instance, in 2017, over 3 billion passengers/year travel by commercial planes worldwide.
Europe oil storage market is predicted to expand 2 % by 2024. Increasing inorganic growth venture activities among the giant players coupled with growing trade movement of crude oil and petroleum product will augment the business outlook. For instance, in 2017, Credit Agricole Assurances acquired over 40% share of MSSFH, to gain market share in France.
Floating roof tank market is anticipated to gain over 3% by 2024. These are used to store low and medium flash point liquids including crude, aviation fuel and other middle distillates. Ability to offer lower particulate matter emissions and reduce petroleum product losses will enhance the product penetration.
Indonesia oil storage Market is predicted to witness a significant growth owing to availability natural resources. For instance, Indonesia held proven reserves of 7 billion of oil and over 150 trillion cubic feet of natural gas. Introduction of several initiatives to promote the development of undeveloped O&G field will further strengthen the business landscape. Government has introduced tax schemes and production sharing contracts to support the development of O&G field.
Table of content:
Chapter 4. Oil Storage Market, By Reserve
4.1. Oil storage market share by reserve, 2017 & 2024
4.2. Strategic
4.2.1. Market estimates and forecast, 2013-2024
4.2.2. Market estimates and forecast, by region, 2013 - 2024
4.3. Commercial
4.3.1. Market estimates and forecast, 2013-2024
4.3.2. Market estimates and forecast, by region, 2013 - 2024
Chapter 5. Commercial Oil Storage Market, By Product
5.1. Commercial oil storage market share by product, 2017 & 2024
5.2. Fixed roof
5.2.1. Market estimates and forecast, 2013-2024
5.2.2. Market estimates and forecast, by region, 2013 - 2024
5.3. Floating roof
5.3.1. Market estimates and forecast, 2013-2024
5.3.2. Market estimates and forecast, by region, 2013 - 2024
5.4. Spherical
5.4.1. Market estimates and forecast, 2013-2024
5.4.2. Market estimates and forecast, by region, 2013 - 2024
5.5. Others
5.5.1. Market estimates and forecast, 2013-2024
5.5.2. Market estimates and forecast, by region, 2013 - 2024
Read More About Oil Storage Market : https://www.globenewswire.com/news-release/2016/12/01/894222/0/en/Oil-Storage-Market-size-to-surpass-2-298-3Mn-m3-by-2025-Global-Market-Insights-Inc.html
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