The Oil Storage Market report, published by Stratview Research is Segmented by Reserve Type (Strategic Reserve, Commercial Reserve), by End-Use Type (Crude Oil, Gasoline, Aviation Fuel, Middle Distillates, LNG, and LPG), by Product Type (Fixed Roof, Floating Roof, Spherical, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
Market Insights
The oil storage market size was valued at USD 12.0 billion in 2021 and is likely to grow at a CAGR of 4.2% during 2022-2027 to reach USD 15.3 billion by 2027.
Segment Analysis
By Product Type
Based on product type, the market is segmented as fixed roof, floating roof, spherical, and Others. The floating roof segment is estimated to grow with the highest CAGR during the forecast period owing to increasing demand for low & medium-flash point hydrocarbon-related products.
Based on reserve type, the market is segmented into strategic reserves and commercial reserves. The commercial reserve segment is estimated to grow with the highest CAGR during the forecast period, driven by incessant soaring petroleum product demand on account of increasing urbanization.
In terms of regions, North America is estimated to be the largest market during the forecast period. The government and authority’s positive outlook toward the expansion of oil refining capabilities in the United States drives the market in the region. Europe and Asia-Pacific are also likely to offer substantial growth opportunities during the forecast period.
Frequently Asked Questions (FAQs)
- What will be the size of the Oil Storage Market in the coming years?
- Who are the key players in the Oil Storage Market and what are their market shares?
- Which region is expected to remain the largest Oil Storage Market?
- Which region is expected to witness the highest growth in the Oil Storage Market?
- What are the key strategies adopted by the major vendors to lead in the Oil Storage Market?
With this detailed report, Stratview Research offers customization options to the clients. This includes detailed company profiling of additional market players, Competitive Benchmarking of key players on the parameters like: Product portfolio, geographical reach, regional presence, and strategic alliances.
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