The Oil Storage Market was valued at US $ 4.21 Bn. in 2022. Global Oil Storage Market size is estimated to grow at a CAGR of 4.81%.
Oil Storage Market Overview:
Maximise Market Research’s study on the Oil Storage Market provides a thorough examination of the market, covering its industrial environment, main players, evolving trends, and regional insights. The results are presented in a logical and understandable way, and the report is based on both primary and secondary research.
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Oil Storage Market Scope:
The Oil Storage Market is well covered by MMR’s study, which also identifies the top international players in the market according to variables like volume, value, market share, tactics, and industry growth. It is anticipated that the research will assist firms in strengthening their position in the industry and provide strategies for both new and established market entrants. Together with segmentation by type and end users, the research provides market revenue by area and country.
Oil Storage Market Segmentation:
Based on the Product, the Market is segmented into Open Top, Fixed Roof, Floating Roof, and Others. The Fixed Roof segment held the largest market share, accounting for 42% in 2022. The high degree of containment of Fixed Roof, which reduces the chance of a fire occurrence, is primarily driving the segment’s growing penetration. The segment’s growth is aided by lower installation costs for fixed roof designs. The Floating Roof segment is expected to witness a significant growth at a CAGR of 5.1% during the forecast period. The floating roof’s efficient design, which helps to reduce evaporative losses and corrosion are primarily driving the demand of this segment. The continuous growing demand for storage of medium and low flash point hydrocarbons is expected to fuel the market growth for this segment.
Based on the Application, the Oil Storage Market is segmented into Crude Oil, Middle Distillates, Gasoline, Aviation Fuel, and Others. The Crude Oil segment held the largest market share, accounting for 52.7% in 2022. Growing crude oil production combined with decreased demand from the downstream and midstream sectors is expected to increase crude oil storage during the forecast period. According to the US Energy Information Administration, Commercial crude oil inventories in the United States used 62% of the total storage capacity available in June 2021. The Gasoline Oil segment is expected to witness a noteworthy growth at a CAGR of 6.2% during the forecast period. Growing uses of Gasoline oil as automobile fuel, as provide its high combustion energy, is expected to drive the segment growth. It’s also used in construction, forestry, landscaping, and farming equipment.
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Oil Storage Market Key Players:
5. Synalloy Corporation
6. LF Manufacturing
7. Superior Product Company, Inc.
8. Tianjin Anson International Co., Ltd.
9. Roth Industries Company
10. Ergil
11. Vopak
12. Waterford Product & Fabrication
13. Sri Ranga Industries
14. Hydrotherm Engineering Services
15. Belco Manufacturing Company
16. Containment Solutions
17. Sunoco Logistics
18. Oiltanking GmbH
19. Columbian Steel Tank
20. Poly Processing
21. Ziemann Holvrieka GmbH
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Regional Analysis:
The study focuses on North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa as the five key regions for the plastic punnets market. The bulk of the world’s consumption of plastic punnets is attributed to these regions.
Key Questions answered in the Oil Storage Market are:
- What is Oil Storage Market ?
- What is the forecast period of the Oil Storage Market ?
- What is the competitive scenario of the Oil Storage Market ?
- Which region held the largest market share in the Oil Storage Market ?
- What are the opportunities for the Oil Storage Market ?
- What are the restraining factors in the Oil Storage Market ?
- Who are the key players of the Oil Storage Market ?
Key offerings:
- Market Share, Size, and Forecast by Revenue|2022-2029
- Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
- Market Segmentation: A detailed analysis by Oil Storage Market
- Landscape- Leading key players and other prominent key players.
- Price Trends
- Key Opinion Leaders Offerings
- Government Initiatives
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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