Learn about the global oil storage market through The Business Research Company, which provides information on oil storage market size, oil storage market drivers and restraints, oil storage market players, the COVID-19 impact on the oil storage market, and more.

The global oil storage market is expected to grow from $8.98 billion in 2021 to $9.36 billion in 2022 at a compound annual growth rate (CAGR) of 4.15%. The global oil storage market size is expected to reach $11.01 billion in 2026 at a compound annual growth rate (CAGR) of 4.16%.

The increase in the demand for crude oil supply is expected to propel the growth of the oil storage market.

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The oil storage market consists of sales of oil storage by entities (organizations, sole traders, and partnerships) that refer to reservoirs or containers used to store oil. The oil storage tank is used to hold oil products temporarily before they are transported to end-users. Oil storage has different types of sizes, like small, medium, and large-scale storage. Oil storage is used by companies to get more profits by using the cheapest storage method, called underground spaces, like the depleted reservoir.

Global Oil Storage Market Segments Include:

By Product Design: Open Top Tank, Fixed Roof Tank, Floating Roof Tank, Others

By Type: Crude Oil, Gasoline, Aviation Fuel, Naphtha, Diesel, Kerosene, Liquefied Petroleum Gas (LPG)

By Materials: Steel, Carbon Steel, Fiberglass Reinforced Plastic (FRP), Others

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global oil storage market in 2021.

New product launches are a key trend gaining popularity in the oil storage market. A new product launch refers to new product development and launching the product into the market. Key players are focusing on launching new products to increase their portfolio and capture additional revenue.

TBRC’s oil storage market report covers:

Major Market Players: Belco Manufacturing Co., Inc., Brooge Energy, Containment Solutions Inc., LBC Tank Terminals, L F Manufacturing Inc., Oiltanking GmbH, ZCL Composites, Oman Tank Terminal Company, Columbian Steel Tank, Vitol Tank Terminals International BV, Ghazanfar Group, Horizon Terminals Ltd., and Waterford Tank & Fabrication.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)

The Oil Storage Global Market Report 2022  is one of a series of new reports from The Business Research Company that provides oil storage market overviews, analyzes and forecasts market size, share, oil storage market players, oil storage market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s oil storage market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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