openPR Logo
Press release

Oil Storage Market - Positive Long-Term Growth Outlook 2024

Oil Storage Market - Positive Long-Term Growth Outlook 2024

The top five companies in the global oil storage market accounted for a combined share of just over 67% in 2014. These players are Royal Vopak N.V., Kinder Morgan Inc., Oiltanking GmbH, Buckeye Partners L.P., and NuStar Energy L.P. Transparency Market Research has found that the degree of competition in the increasingly capital-intensive oil storage market is extremely high and the threat of new entrants is likely to remain moderate throughout the forecast period.

Looking to strengthen their foothold in the global oil storage market, an increasing number of companies have been resorting to strategic alliances, partnerships, mergers, acquisitions, and joint ventures. “These strategies have enabled companies to raise funds for the development of new pipelines and storage facilities, the expansion of terminal networks, and the expansion of crude oil storage infrastructure,” the author of the TMR study states.

This 112 page report gives readers a comprehensive overview of the Oil Storage market.Browse through 6 data tables and 159 figures to unlock the hidden opportunities in this market@

Kinder Morgan is an excellent example. Currently focused on enhancing terminal and storage infrastructure across North America, the industry giant acquired Hiland Partners in February 2015 for US$3 bn.

Ongoing Expansion of Oil Storage Capacities Driving Growth

“The global supply of crude oil has surpassed its demand and this has resulted in the need for oil storage facilities,” a TMR analyst states. This changing trend in the oil industry has given rise to oil inventories over the years. Companies have been striving to expand storage capacity, especially refineries in Asia Pacific and Europe. In addition to this, the swift rise in road travel has spurred the demand for finished petroleum products, which, in turn, has fueled the need for future storage capacity expansions. This has given the global oil storage market a significant boost. For instance, in 2015, CLH Group invested over US$200 mn to build integrated storage and transportation networks, including thousands of kilometers of storage facilities.

In contrast, TMR has observed that high initial investments and lengthy approval processes required for setting up and expansion oil storage facilities have restricted the growth of the global market.

“However, higher return on investment in the long term is likely to give players in the oil storage market the push they need,” the author of the study predicts.

Opportunities Galore in APAC Oil Storage Market

The global oil storage market is poised to expand at a 4.73% CAGR by volume from 2016 to 2024, reporting a rise from 1,337 mn cubic meters in 2014 to 2,027 mn cubic meters by the end of the forecast period. The Middle East and Africa region is the leading contributor in the global oil storage market with a 30% share in 2014, followed by North America and Europe. “Although Asia Pacific comes in fourth in terms of market share, the region is anticipated to trail the MEA oil storage market in terms of percentage growth from 2016 to 2024,” the analyst predicts.

Get accurate market forecast and analysis on the Oil Storage market. Request a sample to stay abreast on the key trends impacting this market@

By type of reserve, strategic petroleum reserves were the key contributor in 2014, followed by commercial petroleum reserves. By type of product, crude oil led the overall oil storage market in 2014 and will continue this trend through 2024.

This review is based on the findings of a TMR report titled “Oil Storage Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”

Oil Storage Market – Type of Storage Segment Analysis
Open Top Tanks
Fixed Roof Tanks
Floating Roof Tanks
Other Storage Facilities

Oil Storage Market – Product Type Segment Analysis
Crude Oil
Aviation Fuel
Middle Distillates

Oil Storage Market – Reserve Type Segment Analysis
Strategic Petroleum Reserve
Commercial Petroleum Reserve

About Us

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.

Contact Us

Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Visit Blog :

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 Oil Storage Market - Positive Long-Term Growth Outlook 2024 here

News-ID: 564508 • Views: 347

More Releases from Transparency Market Research

Voltage Detectors Market – Evolving Technology Trends and Industry SWOT Analys …
The global voltage detectors market includes large number of players. Some of the key players are Texas Instruments, Toshiba, ROHM Semiconductor Sharp Microelectronics, Analog Devices Inc., STMicroelectronics, ON Semiconductor, Torex Semiconductor, Taiwan Semiconductor and Seiko Instruments. Browse Our Report @ Voltage Detector is a testing equipment generally used to determine the existence or absence of an electrical charge in an object. It is highly suggested for conditions where power issues exist.
Switched Capacitor Filters Market : Key Segments, Maket Insights, Regional Outlo …
Major players in the global switched capacitor filters market are Texas Instruments Incorporated, Analog Devices, Inc., Maxim Integrated, Inc., Siemens AG, Eaton Corporation, and among others. Browse Our Report @ A switched capacitor filter is an active filter based on the consideration that a switching of capacitors between two circuit nodes at an adequately high rate that is equivalent to a resistor connecting these two nodes. The switched capacitor filters are
Current Calibrator Market : Recent Industry Developments And Growth Strategies A …
Key players operating in the global current calibrator market include Valhalla Scientific, Rotek Inc., Time Electronics, PCE Instruments, Martel Electronics, AOIP Instrumentation, Extech Instruments, Yogokawa Test & Measurement Corporation, Extech Instruments, REED Instruments, Fluke Corporation, and others. These players are actively focusing on organic and inorganic growth strategies in order to gain a competitive advantage in the market. Some of the important strategies adopted by the leading players in the
Damp Meter Market – Outlook by Responsible Drivers, Restraints, Demand
Key players operating in the global damp meter market include PCE Instrument, Delmhorst Instrument Co., GENERAL TOOLS & INSTRUMENTS LLC, FLIR Systems, Inc. designs, Panomex Inc., These players are actively focusing on organic and inorganic growth strategies in order to gain a competitive advantage in the market. Some of the important strategies adopted by the leading players in the global market are collaborations, partnerships, agreements, and new product launches. The

All 5 Releases

More Releases for Oil

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 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
Cottonseed Oil Market
Global cottonseed oil market is expected to grow at a steady rate as the product is used in processing of many food & beverage products. It has neutral flavour and is said to enhance the natural taste of food products in which they are used. Thus, they are used extensively for frying and baking purposes. Margarines, whipped toppings, icings, salads, potato chips & french fries, cereals, baked goods, stir-fried and
Automotive Gear Oil Market
Automobile gears (or cogs) are rotating machine part having cut teeth, or cogs which mesh with another toothed part in order to transmit torque. The arrangement of two or more gears forms automotive transmission system. Automotive gear oil can be petroleum or synthetic based, used especially for lubricating automotive gears for all class of vehicles. It provide high transmission efficiency, reduce engine heating, provides proper clutch friction, insure better oxidation