Oil Storage Market Growth 2021-2030, Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider Oil Storage Market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Oil Storage Market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence.
The global oil storage market was valued at $12,865 million in 2016 which is growing at a CAGR of 4.2% from 2017 to 2023 to reach to reach at $17,217 million by 2023.
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Oil storage refers to the mechanism used for the safe storage of different petroleum products. Oil storage is a type of trade in which vertically-integrated companies purchase oil for instant delivery, and store it till the oil price increases. The companies keep the oil in storage until the price of oil increases. The crude oil and natural gas are the naturally occurring petroleum resources and are known as refinery feedstocks, which requires appropriate storage. Petroleum products are transported to the storage facilities from oilfields and then to the refineries.
In 2016, LAMEA led the global market, owing to the presence of large oil reserves, and major export destinations such as Nigeria, Saudi Arabia, Iran, and UAE. In addition, introduction to newer refineries enables the rapid growth in demand for these products.
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 global market is driven by the growth in need for mega refining hub, import or distribution type facilities, and high degree of product containment. Initiatives, such as strategic petroleum reserve for stockpiling large volumes of oil have enabled the government of the developed as well as the developing countries to protect the supply from price hikes and stock out incidents. However, decline in exploration & production activities and decrease in production investment are expected to impede the market growth.
The global oil storage market is segmented based on type, material, product design, and geography. On the basis of type, it is divided into crude oil, gasoline, aviation fuel, naphtha, diesel, kerosene, and LPG. On the basis of material, it is categorized into steel, carbon steel, and FRP. Based on product design, it is classified into open top, fixed roof, floating roof, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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In December, 2015, Oiltanking and Jurong Port entered into a joint venture for new storage terminal in Singapore. The company operated a new liquid bulk terminal, designed to store and handle both clean petroleum products & chemicals with an initial capacity of 200,000 cbm.
The major market players are as follows
ZCL Composites Belco Manufacturing Company Containment Solutions Sunoco Logistics Oiltanking GmbH Columbian Steel Tank Poly Processing Synalloy Corporation L.F. Manufacturing Red Ewald, Inc.
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This report provides an extensive analysis of the current & emerging market trends and dynamics of the global oil storage market. In-depth analysis of all regions is conducted by constructing the market estimations for key segments from 2017 to 2023 to identify the prevailing opportunities. The report assists to understand the strategies adopted by the companies for market expansion. Evaluation of the competitive landscape is provided to understand the market scenario across various regions. Extensive analysis is conducted by following key player positioning and monitoring the top competitors within the market framework.
By Type Crude Oil Gasoline Aviation Fuel Naphtha Diesel Kerosene LPG
By Material Steel Carbon Steel Fiberglass Reinforced Plastic (FRP)
By Product Design Open Top Fixed Roof Floating Roof Others
North America U.S. Canada Mexico Europe Russia UK Denmark Italy Norway Rest of Europe Asia-Pacific China India Indonesia Malaysia Australia Rest of Asia-Pacific LAMEA Brazil Nigeria KSA Rest of LAMEA
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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 Oil Storage Market. 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 Oil Storage Market. 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 Oil Storage Market 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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