North America Oil Storage Market 2021: North America Industry Insights by North America Players, Regional Segmentation, Growth, Applications, Major Drivers, Value and Foreseen | Taiwan News | 2021-12-22 05:01:35

2021-12-24 06:52:09 By : Mr. Andy Lin

North America Oil storage is a type of trade wherein vertically integrated companies purchase oil for immediate delivery and store until the price of oil increases. This storage can be for a short span of time, as the North American oil could be transported for the refinement process. In addition, oil storage offers protection from short-time supply fluctuations of crude North America oil and its derivatives. Furthermore, the increase in oil production has encouraged suppliers to improve their inventories and infrastructure to store the massive quantities of oil.

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The North America oil storage market was valued at $667 million in 2021, and is projected to reach $931 million by 2027, growing at a CAGR of 4.8% from 2021 to 2027.

The major factors that contribute towards the growth of the North America oil storage market include decline in crude oil prices, increase in need for mega refining hub, high degree of product containment, and rise in import facilities. However, decline in production & exploration activities and rise in inventory cost hamper the market growth. Conversely, the development of the strategic petroleum reserves segment and increase in oil demand are expected to provide lucrative growth opportunities for the market.

The global market is forecast to witness a rapid growth, owing to increasing demand for technological advancements from end-users. Moreover, increasing investments in research and development activities, launches, partnerships, and other strategic initiatives will benefit the market. Furthermore, the growing focus of authorities towards increasing urbanization and industrialization is forecast to drive the market growth.

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The North America oil storage market is segmented on the basis of type, material, product design, and country. Based on product, the market is categorized into crude oil, gasoline, aviation fuel, naphtha, diesel, kerosene, and liquefied petroleum gas (LPG). By material, it is classified into steel, carbon steel, and fiber-reinforced plastic (FRP). Depending on product design, it is fragmented into open top tanks, fixed roof tanks, floating roof tank, and other storage tanks.

Country-wise, the market is analyzed across the U.S., Canada, and Mexico. The U.S. market is further divided into five PADD regions, namely, PADD I, PADD II, PADD III, PADD IV, and PADD V. Canada further fragmented into Atlantic region, Central Canada, the West Coast, and the North, where the West Coast is subsegmented into the Prairie Provinces and other western regions.

KEY BENEFITS >The study provides an in-depth analysis of the North America oil storage market with current trends and future estimations from 2016 to 2023 to elucidate the imminent investment pockets. >Comprehensive analysis of factors that drive and restrict the market growth is provided. >Identification of factors instrumental in changing the market scenario, rise in opportunities, and identification of key companies that can influence this market on a regional scale are provided. >Key players are profiled and their strategies are analyzed thoroughly to understand the competitive outlook of the market.

LIST OF KEY PLAYERS PROFILED IN THE REPORT >Royal Vopak N.V. >Kinder Morgan, Inc. >Oiltanking GmbH (Marquard & Bahls) >Buckeye Partners L.P. >NuStar Energy L.P. >International-Matex Tank Terminals, Inc. >Magellan Midstream Partners, L.P. >Energy Transfer Partners, LP. >Odfjell SE

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By Type >Crude Oil >Gasoline >Aviation Fuel >Naphtha >Diesel >Kerosene >Liquefied Petroleum Gas (LPG)

By Material >Steel >Carbon Steel >Fiber-reinforced Plastic (FRP)

By Product Design >Open Top Tanks >Fixed Roof Tanks >Floating Roof Tanks >Other Storage Tanks

By Country >U.S. ?PADD I (East Coast) ?PADD II (Midwest) ?PADD III (Gulf Coast) ?PADD IV (Rocky Mountain) ?PADD V (West Coast)

>Canada ?The Atlantic Region ?Central Canada ?The West Coast ?The Prairie Provinces ?Other Western Regions The North

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The final report will include an analysis of the impact of COVID-19 on the global industry.

Despite being highly import-dependent, many indigenous syringes and needle manufacturers have established themselves on the North America. Still, imports to this market are also significant. While imports are high, domestic manufacturers have been able to tap foreign markets through exports, as has been the case with other medical devices. Consumers’ target base is steadily growing, contributing to a significant increase in sales.

The report provides an overview of the North America. A brief description of the stages of syringe and needle development follows the introduction section. By providing a concise summary of the market and highlighting market size, the market overview section shows the market’s dynamics. Next, we provide volume and value figures for syringes and needles. Additionally, it includes a breakdown of imports and exports by region.

Analysis of the drivers explains the factors contributing to the market growth, including an increase in insulin needed, an increase in vaccine demand, an improvement in health infrastructure, an increase in diseases, changing demographics, and health check-up packages. One of the primary challenges for the market is the illegal recycling of syringes and needles. Another is the difficulties associated with usage. Next, we will discuss government legislation in the market.

There is a section on the competitive landscape which highlights the main players in the market. This section includes a summary of the major domestic and foreign players in the market, along with their financial standing.

The report concludes with a section offering strategic recommendations for improving market share and increasing profitability for existing and potential players.

Following are the questions answered by the Market report:

What are the goals of the report?

This market report shows the projected market size for the North America at the end of the forecast period. The report also examines the historical and current market sizes.

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On the basis of various indicators, the charts present the year-over-year growth (%) and compound annual growth rate (CAGR) for the given forecast period.

The report includes an overview of the market, its geographical scope, its segmentation, and the financial performance of key players.

The report examines the current state of the industry and the potential growth opportunities in North America, Asia Pacific, Europe, Latin America, and the Middle East, and Africa.

The research report includes various factors contributing to the market’s growth.

The report analyzes the growth rate, market size, and market valuation for the forecast period.

This report covers aspects of the regional analysis market.

The report includes data about North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.

This report analyzes current and future market trends by region, providing information on product usage and consumption.

Reports on the market include the growth rate of every region, based on their countries over the forecast period.

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What factors are taken into consideration when assessing the key market players?

The report analyzes companies across the globe in detail.

The report provides an overview of major vendors in the market, including key players.

Reports include information about each manufacturer, such as profiles, revenue, product pricing, and other pertinent information about the manufactured products.

This report includes a comparison of market competitors and a discussion of the standpoints of the major players.

Market reports provide information regarding recent developments, mergers, and acquisitions involving key players.

What are the key findings of the report?

This report provides comprehensive information on factors expected to influence the market growth and market share in the future.

The report offers the current state of the market and future prospects for various geographical regions.

This report provides both qualitative and quantitative information about the competitive landscape of the market.

Combined with Porter’s Five Forces analysis, it serves as SWOT analysis and competitive landscape analysis.

It provides an in-depth analysis of the market, highlighting its growth rates and opportunities for growth.

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Infusion Pumps & Accessories Market

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