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Global Oil Storage Market 2023 : SWOT Analysis Of Key Driving Factors For Growing CAGR Value | Belco Manufacturing Co Inc., Brooge Energy, Containment Solutions Inc., LBC Tank Terminals, L F Manufacturing Inc
Oil Storage Market
Oil Storage Market Size, Growth Rate, And Forecast
The global oil storage market size grew from $9.41 billion in 2022 to $9.86 billion in 2023 at a compound annual growth rate (CAGR) of 4.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, causing inflation across goods and services and affecting many markets across the globe. The oil storage market size is expected to grow to $11.94 billion in 2027 at a CAGR of 4.9%.
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Oil Storage Market Drivers
The increase in the demand of crude oil supply is expected to propel the growth of the oil storage market. Oil storage is used for storing crude oil, petroleum, and other oil products that are further supplied to end-users. The increase in demand of crude oil supply is due to an increase in consumption of crude oil products like petroleum, oil, and gas.
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Oil Storage Market Segments
1) By Product Design: Open Top Tank, Fixed Roof Tank, Floating Roof Tank, Other Designs
2) By Type: Crude Oil, Gasoline, Aviation Fuel, Naphtha, Diesel, Kerosene, Liquefied Petroleum Gas (LPG)
3) By Materials: Steel, Carbon Steel, Fiberglass Reinforced Plastic (FRP), Other Materials
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Oil Storage market.
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Oil Storage Market Key Players
Major players in the oil storage market are Belco Manufacturing Co Inc., Brooge Energy, Containment Solutions Inc., LBC Tank Terminals, L F Manufacturing Inc., Oiltanking GmbH, ZCL Composites, Oman Tank Terminal Company, Columbian Steel Tank, Vitol Tank Terminals International BV, Ghazanfar Group, Horizon Terminals Ltd and Waterford Tank & Fabrication.
The Business Research Company's "Global Oil Storage Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Oil Storage Market Include:
1. Executive Summary
2. Oil Storage Market Characteristics
3. Oil Storage Market Trends And Strategies
4. Oil Storage Market - Macro Economic Scenario
5. Oil Storage Market Size And Growth
……
27. Oil Storage Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Oil Storage Market
29. Oil Storage Market Future Outlook and Potential Analysis
30. Appendix
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