Market Overview:
The global oil storage market size reached US$ 9.0 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 11.5 Billion by 2027, exhibiting a growth rate (CAGR) of 4.07% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Oil storage refers to tanks and terminals used in oil and gas supply chains for storing processed oil in under or above-ground facilities. Some of the commonly used oil storage tanks include open-top, fixed roof, floating roof, single skin and double skin and bundled tanks. These oil storage tanks are usually manufactured using stainless steel, plastic, carbon steel and reinforced concrete material and act as a reservoir for gasoline, aviation fuel, naphtha, liquified petroleum gas (LPG), crude oil, petrol, diesel and other derivatives. As a result, they find extensive applications across various industries, including transportation, automotive and oil and gas.
Significant growth in the oil and gas industry across the globe is one of the key factors creating a positive outlook for the market growth. With the increasing requirement for mega refining hubs, import and distribution-related facilities, there is a rising demand for efficient oil storage facilities, especially in the developing economies. Furthermore, widespread utilization of strategic petroleum reserves (SPRs) by government organizations for maintaining oil reserves in large volumes and ensuring constant energy supply are providing a thrust to the market growth. With the rising off-shore and on-shore exploratory activities, there is a significant increase in the demand for oil storage installations. Additionally, the utilization of advanced technologies for fabricating more durable steel tanks to prevent and minimize oil leakages during storage is contributing to the market growth. Other factors, including the implementation of favorable government policies, along with cross-border oil trade activities, are anticipated to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global oil storage market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on material, product and application.
Breakup by Material:
- Steel
- Carbon Steel
- Fiberglass Reinforced Plastic (FRP)
- Others
Breakup by Product:
- Open Top
- Fixed Roof
- Floating Roof
- Others
Breakup by Application:
- Crude Oil
- Middle Distillates
- Gasoline
- Aviation Fuel
- Others
Breakup by Region:
- North America
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Buckeye Partners L.P., CST Industries Inc., Denali Incorporated (National Oilwell Varco Inc.), Energy Transfer LP, L.F. Manufacturing, Oiltanking GmbH (Marquard & Bahls), Royal Vopak N.V., Shawcor Ltd., Synalloy Corporation, Snyder Industries LLC, VTTI B.V. and Ziemann Holvrieka GmbH.
Report Coverage:
| Report Features |
Details |
|---|
| Base Year of the Analysis |
2021 |
| Historical Period |
2016-2021 |
| Forecast Period |
2022-2027 |
| Units |
US$ Billion |
| Segment Coverage |
Material, Product, Application, Region |
| Region Covered |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered |
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered |
Buckeye Partners L.P., CST Industries Inc., Denali Incorporated (National Oilwell Varco Inc.), Energy Transfer LP, L.F. Manufacturing, Oiltanking GmbH (Marquard & Bahls), Royal Vopak N.V., Shawcor Ltd., Synalloy Corporation, Snyder Industries LLC, VTTI B.V. and Ziemann Holvrieka GmbH. |
| Customization Scope |
10% Free Customization |
| Report Price and Purchase Option |
Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499 |
| Post-Sale Analyst Support |
10-12 Weeks |
| Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
- How has the global oil storage market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global oil storage market?
- What are the key regional markets?
- What is the breakup of the market based on the material?
- What is the breakup of the market based on the product?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global oil storage market and who are the key players?
- What is the degree of competition in the industry?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Oil Storage Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Material
6.1 Steel
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Carbon Steel
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Fiberglass Reinforced Plastic (FRP)
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Others
6.4.1 Market Trends
6.4.2 Market Forecast
7 Market Breakup by Product
7.1 Open Top
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Fixed Roof
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Floating Roof
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Others
7.4.1 Market Trends
7.4.2 Market Forecast
8 Market Breakup by Application
8.1 Crude Oil
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Middle Distillates
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Gasoline
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Aviation Fuel
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Others
8.5.1 Market Trends
8.5.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Buckeye Partners L.P.
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 SWOT Analysis
14.3.2 CST Industries Inc.
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.3 Denali Incorporated (National Oilwell Varco Inc.)
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.4 Energy Transfer LP
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.4.3 Financials
14.3.4.4 SWOT Analysis
14.3.5 L.F. Manufacturing
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.6 Oiltanking GmbH (Marquard & Bahls)
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.7 Royal Vopak N.V.
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.7.3 Financials
14.3.7.4 SWOT Analysis
14.3.8 Shawcor Ltd.
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.8.3 Financials
14.3.8.4 SWOT Analysis
14.3.9 Synalloy Corporation
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.9.3 Financials
14.3.10 VTTI B.V.
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.11 Snyder Industries LLC
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.12 Ziemann Holvrieka GmbH
14.3.12.1 Company Overview
14.3.12.2 Product Portfolio
List of Figures
Figure 1: Global: Oil Storage Market: Major Drivers and Challenges
Figure 2: Global: Oil Storage Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Oil Storage Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Oil Storage Market: Breakup by Material (in %), 2021
Figure 5: Global: Oil Storage Market: Breakup by Product (in %), 2021
Figure 6: Global: Oil Storage Market: Breakup by Application (in %), 2021
Figure 7: Global: Oil Storage Market: Breakup by Region (in %), 2021
Figure 8: Global: Oil Storage (Steel) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Oil Storage (Steel) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Oil Storage (Carbon Steel) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Oil Storage (Carbon Steel) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Oil Storage (Fiberglass Reinforced Plastic- FRP) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Oil Storage (Fiberglass Reinforced Plastic- FRP) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Oil Storage (Other Materials) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15 Global: Oil Storage (Other Materials) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Oil Storage (Open Top) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Oil Storage (Open Top) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Oil Storage (Fixed Roof) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Oil Storage (Fixed Roof) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Oil Storage (Floating Roof) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Oil Storage (Floating Roof) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Oil Storage (Other Products) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Oil Storage (Other Products) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Oil Storage (Crude Oil) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Oil Storage (Crude Oil) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Global: Oil Storage (Middle Distillates) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: Oil Storage (Middle Distillates) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Global: Oil Storage (Gasoline) Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Global: Oil Storage (Gasoline) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Global: Oil Storage (Aviation Fuel) Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Global: Oil Storage (Aviation Fuel) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: Global: Oil Storage (Other Applications) Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: Global: Oil Storage (Other Applications) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: North America: Oil Storage Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: North America: Oil Storage Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: United States: Oil Storage Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: United States: Oil Storage Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: Canada: Oil Storage Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: Canada: Oil Storage Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: Asia-Pacific: Oil Storage Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: Asia-Pacific: Oil Storage Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: China: Oil Storage Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: China: Oil Storage Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: Japan: Oil Storage Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: Japan: Oil Storage Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: India: Oil Storage Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: India: Oil Storage Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: South Korea: Oil Storage Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: South Korea: Oil Storage Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: Australia: Oil Storage Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: Australia: Oil Storage Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: Indonesia: Oil Storage Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: Indonesia: Oil Storage Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: Others: Oil Storage Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: Others: Oil Storage Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: Europe: Oil Storage Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: Europe: Oil Storage Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: Germany: Oil Storage Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: Germany: Oil Storage Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: France: Oil Storage Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: France: Oil Storage Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: United Kingdom: Oil Storage Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: United Kingdom: Oil Storage Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: Italy: Oil Storage Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: Italy: Oil Storage Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Spain: Oil Storage Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Spain: Oil Storage Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Russia: Oil Storage Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Russia: Oil Storage Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Others: Oil Storage Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Others: Oil Storage Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: Latin America: Oil Storage Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: Latin America: Oil Storage Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 74: Brazil: Oil Storage Market: Sales Value (in Million US$), 2016 & 2021
Figure 75: Brazil: Oil Storage Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 76: Mexico: Oil Storage Market: Sales Value (in Million US$), 2016 & 2021
Figure 77: Mexico: Oil Storage Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 78: Others: Oil Storage Market: Sales Value (in Million US$), 2016 & 2021
Figure 79: Others: Oil Storage Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 80: Middle East and Africa: Oil Storage Market: Sales Value (in Million US$), 2016 & 2021
Figure 81: Middle East and Africa: Oil Storage Market: Breakup by Country (in %), 2021
Figure 82: Middle East and Africa: Oil Storage Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 83: Global: Oil Storage Industry: SWOT Analysis
Figure 84: Global: Oil Storage Industry: Value Chain Analysis
Figure 85: Global: Oil Storage Industry: Porter's Five Forces Analysis
List of Tables
Table 1: Global: Oil Storage Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Oil Storage Market Forecast: Breakup by Material (in Million US$), 2022-2027
Table 3: Global: Oil Storage Market Forecast: Breakup by Product (in Million US$), 2022-2027
Table 4: Global: Oil Storage Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 5: Global: Oil Storage Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Oil Storage Market: Competitive Structure
Table 7: Global: Oil Storage Market: Key Players