Oil Storage Market (Storage - Open Top Tanks, Fixed Roof Tanks, and FloatingRoof Tanks; Product - Crude Oil, Gasoline, Aviation Fuel, and Middle Distillates;
Reserve - Strategic and Commercial) - Global Industry Analysis, Size, Share,Growth Trends, and
Need for Oil Storage Facilities on the Rise as Global Supply of Crude OilSurpasses Demand, says TMR
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112 Page ReportPublished Date21-Jul-2016
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Oil Storage Market
Oil Storage Market - Industry Analysis, Size, Share, Growth Trends, and Forecast : 2024
The top five companies in the global oil storage market accounted for a combined share of just over 67% in 2014. These players are Royal Vopak N.V., Kinder Morgan Inc., Oiltanking GmbH, Buckeye Partners L.P., and NuStar Energy L.P. Transparency Market Research has found that the degree of competition in the increasingly capital-intensive oil storage market is extremely high and the threat of new entrants is likely to remain moderate throughout the forecast period.
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Looking to strengthen their foothold in the global oil storage market, an increasing number of companies have been resorting
to strategic alliances, partnerships, mergers, acquisitions, and joint ventures. These strategies have enabled companies to
raise funds for the development of new pipelines and storage facilities, the expansion of terminal networks, and the
expansion of crude oil storage infrastructure, the author of the TMR study states.
Kinder Morgan is an excellent example. Currently focused on enhancing terminal and storage infrastructure across North
America, the industry giant acquired Hiland Partners in February 2015 for US$3 bn.
Ongoing Expansion of Oil Storage Capacities Driving GrowthThe global supply of crude oil has surpassed its demand and this has resulted in the need for oil storage facilities, a TMRanalyst states. This changing trend in the oil industry has given rise to oil inventories over the years. Companies have beenstriving to expand storage capacity, especially refineries in Asia Pacific and Europe. In addition to this, the swift rise in roadtravel has spurred the demand for finished petroleum products, which, in turn, has fueled the need for future storage capacityexpansions. This has given the global oil storage market a significant boost. For instance, in 2015, CLH Group invested overUS$200 mn to build integrated storage and transportation networks, including thousands of kilometers of storage facilities.
In contrast, TMR has observed that high initial investments and lengthy approval processes required for setting up andexpansion oil storage facilities have restricted the growth of the global market.
However, higher return on investment in the long term is likely to give players in the oil storage market the push they need,the author of the study predicts.
Opportunities Galore in APAC Oil Storage MarketThe global oil storage market is poised to expand at a 4.73% CAGR by volume from 2016 to 2024, reporting a rise from1,337 mn cubic meters in 2014 to 2,027 mn cubic meters by the end of the forecast period. The Middle East and Africa regionis the leading contributor in the global oil storage market with a 30% share in 2014, followed by North America and Europe.
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Oil Storage Market
Although Asia Pacific comes in fourth in terms of market share, the region is anticipated to trail the MEA oil storage market interms of percentage growth from 2016 to 2024, the analyst predicts.
By type of reserve, strategic petroleum reserves were the key contributor in 2014, followed by commercial petroleumreserves. By type of product, crude oil led the overall oil storage market in 2014 and will continue this trend through 2024.
This review is based on the findings of a TMR report titled Oil Storage Market: Global Industry Analysis, Size, Share,Growth, Trends, and Forecast 2016 - 2024.Oil Storage Market Type of Storage Segment Analysis
Open Top Tanks Fixed Roof Tanks Floating Roof Tanks Other Storage Facilities
Oil Storage Market Product Type Segment Analysis Crude Oil Gasoline Aviation Fuel Middle Distillates
Oil Storage Market Reserve Type Segment Analysis Strategic Petroleum Reserve Commercial Petroleum Reserve
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Oil Storage Market Regional Analysis North America
Europe Germany Netherlands Spain Belgium
Asia Pacific China Japan South Korea Singapore
Middle East & Africa
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Oil Storage Market
1. Preface 1.1. Report Description 1.2. Market Segmentation 1.3. Research Scope 1.4. Research Methodology
2. Executive Summary 2.1. Global Oil Storage Market Snapshot 2.2. Global Oil Storage Market Overview
3. Industry Analysis 3.1. Introduction 3.2. Overview 3.3. Value Chain Analysis Snapshot 3.4. Value Chain Analysis Overview 3.5. Market Dynamics Overview 3.5.1. Driver 1- Increased demand for oil storage expansion 3.5.2. Driver 1- Demand for petroleum products is rising due to increase in road travel 3.5.3. Restraints 1 - High initial investments required for oil storage expansion 3.5.4. Opportunities 1- Oil surplus provides profitable investment opportunity in oil storage business 3.6. Porters Five Forces Analysis Overview 3.6.1. Porters Five Forces Analysis Bargaining Power of Suppliers 3.6.2. Porters Five Forces Analysis Bargaining Power Of Buyers 3.6.3. Porters Five Forces Analysis Threat Of Substitutes 3.6.4. Porters Five Forces Analysis Threat Of New Entrants 3.6.5. Porters Five Forces Analysis Degree Of Competition 3.7. Market Attractiveness Analysis, by Region 3.8. Company Market Share- Oil Storage Market (2015)
4. Global Oil Storage Market Analysis, By Reserve Type, By Volume (Million Cubic Meters), 2014 2024 4.1. Overview 4.2. Strategic Petroleum Reserves 4.3. Commercial Petroleum Reserves
5. Global Oil Storage Market Analysis, By Storage Type, By Volume (Million Cubic Meters), 2014 2024 5.1. Open Top Tanks
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Oil Storage Market
5.2. Fixed Roof Tanks 5.3. Floating Roof Tanks 5.4. Other Storage Facilities
6. Global Oil Storage Market Analysis, By Product Type, By Volume (Million Cubic Meters), 2014 2024 6.1. Crude Oil 6.2. Gasoline 6.3. Aviation Fuel 6.4. Middle Distillates
7. Global Oil Storage Market Regional Analysis By Volume (Million Cubic Meters), 2014 2024 7.1. North America Oil Storage Market - Overview 7.1.1. U.S. Oil Storage Market, by Product Type, By Volume ( Million Cubic Meters), 20142024 188.8.131.52. Crude Oil 184.108.40.206. Gasoline 220.127.116.11. Aviation Fuel 18.104.22.168. Middle Distillates 7.1.2. U.S. Oil Storage Market, by Storage Type, By Volume ( Million Cubic Meters), 20142024 22.214.171.124. Open Top Tanks 126.96.36.199. Fixed Roof Tanks 188.8.131.52. Floating Roof Tanks 184.108.40.206. Other Storage Facilities 7.1.3. Canada Oil Storage Market, by Product Type, By Volume ( Million Cubic Meters), 20142024 220.127.116.11. Crude Oil 18.104.22.168. Gasoline 22.214.171.124. Aviation Fuel 126.96.36.199. Middle Distillates 7.1.4. Canada Oil Storage Market, by Storage Type, By Volume ( Million Cubic Meters), 20142024 188.8.131.52. Open Top Tanks 184.108.40.206. Fixed Roof Tanks 220.127.116.11. Floating Roof Tanks 18.104.22.168. Other Storage Facilities 7.2. Europe Oil Storage Market - Overview 7.2.1. Germany Oil Storage Market, by Product Type, By Volume ( Million Cubic Meters), 20142024 22.214.171.124. Crude Oil 126.96.36.199. Gasoline 188.8.131.52. Aviation Fuel
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Oil Storage Market
184.108.40.206. Middle Distillates 7.2.2. Germany Oil Storage Market, by Storage Type, By Volume ( Million Cubic Meters), 20142024 220.127.116.11. Open Top Tanks 18.104.22.168. Fixed Roof Tanks 22.214.171.124. Floating Roof Tanks