Business

Oil Storage Market by Comprehensive Analysis, Growth Prediction and Detail Research for Business Development- Global Forecast 2018-2025

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 oil could be transported for refinement process. In addition, oil storage offers protection from short-time supply fluctuations of crude oil and its derivatives. Furthermore, increase in oil production has encouraged suppliers to improve their inventories and infrastructure to store massive quantity of oil.

Top Manufacturers:

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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The North America oil storage market was valued at $667 million in 2016, and is projected to reach $931 million by 2023, growing at a CAGR of 4.8% from 2017 to 2023. 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 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.

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Table of Content:

CHAPTER 1: INTRODUCTION

1.1. Report description

1.2. Key benefits for stakeholders

1.3. Key market segments

1.4. Research methodology

1.4.1. Secondary research

1.4.2. Primary research

1.4.3. Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY

2.1. Market snapshot

2.2. CXO perspective

CHAPTER 3: MARKET OVERVIEW

3.1. Market definition and scope

3.2. Key findings

3.2.1. Top impacting factors

3.2.2. Top investment pockets

3.3. Porters five forces model

3.3.1. Bargaining power of buyers

3.3.2. Bargaining power of suppliers

3.3.3. Threat of new entrants

3.3.4. Threat of substitutes

3.3.5. Competitive rivalry

3.4. Top player positioning, 2016

3.5. Global oil storage market, 20172023

3.5.1. Key market trends, growth factors, and opportunities

3.5.2. Market size and forecast, by type

3.5.3. Market size and forecast, by material

3.5.4. Market size and forecast, by product design

3.5.5. Market size and forecast, by region

3.6. Fundamental of crude oil

3.7. Market dynamics

3.7.1. Drivers

3.7.1.1. Decline in crude oil prices

3.7.1.2. Increase in demand for mega refining hubs

3.7.1.3. High degree of product containment

3.7.1.4. Need for import and export terminal facilities

3.7.2. Restraints

3.7.2.1. Decline in production & exploration activities

3.7.2.2. Rise in inventory cost

3.7.3. Opportunities

3.7.3.1. Increase in oil demand

3.7.3.2. Development of the strategic petroleum reserves

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Jena Davydova

Chief editor of review team at The Innovative Reports and Market Research Analyst, Jena is an expert in the area of B2B and SaaS related products. She has worked for several B2B startups in the past and gathered a lot of first hand knowledge about the industry during that time.

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