Global Oil Storage Terminal Market is valued approximately USD 31.14 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 4.4% over the forecast period 2023-2030. Oil storage terminals, also known as oil terminals or tank farms, are facilities used for the storage of various types of oil and petroleum products. They serve as vital infrastructure in the oil industry and play a crucial role in ensuring a stable supply of oil to meet demand. Oil storage terminals are typically located near major ports, refineries, or production areas to facilitate the efficient transportation, storage, and distribution of oil. These terminals consist of several storage tanks, which can vary in size and capacity, depending on the specific terminal and its intended purpose. The Oil Storage Terminal market is expanding because of factors such as increasing demand energy, rising demand for various crude oil derived products.
The OPEC 2021 World Oil Outlook 2045 report predicts that between 2021 and 2045, upstream investments will amount to roughly US$1.5 trillion. About US$ 450 billion of this is allocated for investments in new refinery projects and the expansion of current facilities, primarily in developing nations. According to the International Energy Agency, total oil demand across the globe was 91 million barrels per day in 2020, climbed to 99.4 million barrels per day in 2022, and is expected to reach 104.1 million barrels per day by 2026. Thus, increasing demand, and consumption of oil across the globe is catering the market growth. In addition, Increasing Oil Trade Agreements and Increasing investments for creating strategic petroleum reserves is creating lucrative growth to the market. However, emphasis on adoption of renewable energy resources and growing awareness of carbon emissions stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Oil Storage Terminal Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the rising oil demand, rising government support for the development of oil reserves. Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising oil demand, and rising demand for petroleum based products, geographic expansion of key players, and active participation of government and nonprofit organizations in the market space.
Major market players included in this report are:
- Royal Vopak
- Belco Manufacturing
- Containment Solutions, Inc.
- Vitol
- Oiltanking GmbH
- CST Industries, Inc.
- LF Manufacturing
- Red Ewald
- Superior Tank Co., Inc.
- Puma Energy
Recent Developments in the Market:
- In September 2021, in the UAE's port of Fujairah, the Brooge Petroleum and Gas Investment Company (BPGIC), a division of Brooge Energy, has begun construction of its phase 2 storage facility. All commissioning and testing clearances have been obtained for the location housing crude oil and clean petroleum products. BPGIC is now the second-largest storage operator in the area after phase 2 operations, with a storage capacity of roughly 1 million m3 (6.3 million bbl).
- In December 2021, NOLA Oil Terminal LLC has announced the development of phase one of the oil and refined products terminal project in Plaquernines Parish, Louisiana. The United States invested $300 in purchasing the 158 acres. The project's first water-side phase includes two deepwater ports and one barge dock. When both ports are completely operating, they can moor 170.000 tank ships.
Global Oil Storage Terminal Market Report Scope:
- Historical Data: 2020 - 2021
- Base Year for Estimation: 2022
- Forecast period: 2023-2030
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Type, Tank Type, Product, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Typeofferings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
- Strategic Reserve
- Commercial Reserve
By Tank Type:
- Fixed Roof
- Floating Roof
- Bullet Tank
- Spherical Tank
By Product:
- Diesel
- Petrol
- Aviation Fuel
- Crude Oil
- Kerosene
- Others
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Oil Storage Terminal Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. Oil Storage Terminal Market, by Type, 2020-2030 (USD Billion)
- 1.2.3. Oil Storage Terminal Market, by Tank Type, 2020-2030 (USD Billion)
- 1.2.4. Oil Storage Terminal Market, by Product, 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Oil Storage Terminal Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Oil Storage Terminal Market Dynamics
- 3.1. Oil Storage Terminal Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Increasing demand energy
- 3.1.1.2. Rising Demand for Various Crude Oil derived products
- 3.1.2. Market Challenges
- 3.1.2.1. Emphasis on Adoption of Renewable Energy Resources
- 3.1.2.2. growing awareness of carbon emissions
- 3.1.3. Market Opportunities
- 3.1.3.1. Increasing Oil Trade Agreements
- 3.1.3.2. Increasing investments for creating strategic petroleum reserves
Chapter 4. Global Oil Storage Terminal Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Oil Storage Terminal Market, by Type
- 5.1. Market Snapshot
- 5.2. Global Oil Storage Terminal Market by Type, Performance - Potential Analysis
- 5.3. Global Oil Storage Terminal Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
- 5.4. Oil Storage Terminal Market, Sub Segment Analysis
- 5.4.1. Strategic Reserve
- 5.4.2. Commercial Reserve
Chapter 6. Global Oil Storage Terminal Market, by Tank Type
- 6.1. Market Snapshot
- 6.2. Global Oil Storage Terminal Market by Tank Type, Performance - Potential Analysis
- 6.3. Global Oil Storage Terminal Market Estimates & Forecasts by Tank Type 2020-2030 (USD Billion)
- 6.4. Oil Storage Terminal Market, Sub Segment Analysis
- 6.4.1. Fixed Roof
- 6.4.2. Floating Roof
- 6.4.3. Bullet Tank
- 6.4.4. Spherical Tank
Chapter 7. Global Oil Storage Terminal Market, by Product
- 7.1. Market Snapshot
- 7.2. Global Oil Storage Terminal Market by Product, Performance - Potential Analysis
- 7.3. Global Oil Storage Terminal Market Estimates & Forecasts by Product 2020-2030 (USD Billion)
- 7.4. Oil Storage Terminal Market, Sub Segment Analysis
- 7.4.1. Diesel
- 7.4.2. Petrol
- 7.4.3. Aviation Fuel
- 7.4.4. Crude Oil
- 7.4.5. Kerosene
- 7.4.6. Others
Chapter 8. Global Oil Storage Terminal Market, Regional Analysis
- 8.1. Top Leading Countries
- 8.2. Top Emerging Countries
- 8.3. Oil Storage Terminal Market, Regional Market Snapshot
- 8.4. North America Oil Storage Terminal Market
- 8.4.1. U.S. Oil Storage Terminal Market
- 8.4.1.1. Type breakdown estimates & forecasts, 2020-2030
- 8.4.1.2. Tank Type breakdown estimates & forecasts, 2020-2030
- 8.4.1.3. Product breakdown estimates & forecasts, 2020-2030
- 8.4.2. Canada Oil Storage Terminal Market
- 8.5. Europe Oil Storage Terminal Market Snapshot
- 8.5.1. U.K. Oil Storage Terminal Market
- 8.5.2. Germany Oil Storage Terminal Market
- 8.5.3. France Oil Storage Terminal Market
- 8.5.4. Spain Oil Storage Terminal Market
- 8.5.5. Italy Oil Storage Terminal Market
- 8.5.6. Rest of Europe Oil Storage Terminal Market
- 8.6. Asia-Pacific Oil Storage Terminal Market Snapshot
- 8.6.1. China Oil Storage Terminal Market
- 8.6.2. India Oil Storage Terminal Market
- 8.6.3. Japan Oil Storage Terminal Market
- 8.6.4. Australia Oil Storage Terminal Market
- 8.6.5. South Korea Oil Storage Terminal Market
- 8.6.6. Rest of Asia Pacific Oil Storage Terminal Market
- 8.7. Latin America Oil Storage Terminal Market Snapshot
- 8.7.1. Brazil Oil Storage Terminal Market
- 8.7.2. Mexico Oil Storage Terminal Market
- 8.8. Middle East & Africa Oil Storage Terminal Market
- 8.8.1. Saudi Arabia Oil Storage Terminal Market
- 8.8.2. South Africa Oil Storage Terminal Market
- 8.8.3. Rest of Middle East & Africa Oil Storage Terminal Market
Chapter 9. Competitive Intelligence
- 9.1. Key Company SWOT Analysis
- 9.1.1. Company 1
- 9.1.2. Company 2
- 9.1.3. Company 3
- 9.2. Top Market Strategies
- 9.3. Company Profiles
- 9.3.1. Royal Vopak
- 9.3.1.1. Key Information
- 9.3.1.2. Overview
- 9.3.1.3. Financial (Subject to Data Availability)
- 9.3.1.4. Product Summary
- 9.3.1.5. Recent Developments
- 9.3.2. Belco Manufacturing
- 9.3.3. Containment Solutions, Inc.
- 9.3.4. Vitol
- 9.3.5. Oiltanking GmbH
- 9.3.6. CST Industries, Inc.
- 9.3.7. LF Manufacturing
- 9.3.8. Red Ewald
- 9.3.9. Superior Tank Co., Inc.
- 9.3.10. Puma Energy
Chapter 10. Research Process
- 10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
- 10.2. Research Attributes
- 10.3. Research Assumption