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Oil Storage Market: Growth, Future Prospects & Competitive Analysis, 2016-2023

Overview:

Oil storage business is gaining momentum with supply exceeding the global demand for crude oil. Discovery of shale gas and declining crude oil prices in the past two years hasresulted in supply demand inequity which in turn influenced the oil producers to upgrade their storage capacity or to seek the alternative storage for oil storage.

Global oil storage business is projected to expand at the significant growth rate over the forecast period. Increasing production of crude oil, declining oil prices, and increasing non-conventional shale gas production in North America and other regions of the globe are expected to drive the demand for oil storage facilitiesall over the world. Besides this, growing energy consumption due to rapid growth in population has fueled the demand for finished petroleum products which is ultimately fostering the need for oil storage.

Middle East and Africa region is projected to account for maximum volume share in the global oil storage market over the forecast period.Countries such as UAE,Saudi Arabia, Iran, Oman, Qatar, and Nigeriaowing to declining oil prices and increasing oil productionare anticipated to contribute significantly in the overall growth of this market in the region. Followed by it, North America is expected to be the second largest market for oil storage by 2023 due to increasing shale production in the region.Apart from this, rising investment in petroleum reserves is anticipated to fuel the growth of oil storage market in Asia Pacific region over the period 2016-2023. Countries such as China, Japan, South Korea and Singapore are expected to be the major contributor in the Asia Pacific region in future.

The leading players identified across the value chain of oil storage market are highly focusing on expanding their storage capacity in order to gain the competitive edge in the global oil storage market in future.

Global Oil Storage Marketis segmented on the following bases:

  • By Reserve Type
    • Commercial Petroleum Reserve
    • Strategic Petroleum Reserve
  • By Geography
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • France
      • Germany
      • Italy
      • Russia
      • Rest of Europe
    • Asia Pacific
      • Japan
      • China
      • India
      • Australia
      • Rest of APAC
    • Rest of World
      • Latin America
        • Brazil
        • Rest of Latin America
      • Middle-East& Africa
      • Africa

Key Players Identified Across the Value Chain in the Oil Storage Market include but are not limited to:

Oiltanking GmbH, Royal Vopak N.V, Horizon Terminals Ltd and Magellan Midstream Partners L.P., others.

This report offers:

  • An overview of the global Oil Storage Market
  • Market trends assessment for the period 2016-2023, with historical information for 2013& 2014, and projections through 2023, with respective CAGRs during 2016-2023 and 2015 as the base year
  • Qualitative assessment tools such as market drivers, challenges and future prospects, and competitive analysis: market positioning of key market players
  • Focus on each level of market segmentation based on product approvals, launch, and current and anticipated market dynamics
  • A general overview of the industry structure
  • Company profiles highlighting key information about the major players operating in the global Oil Storage Market
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