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Asia Pacific Oil Storage Market Share

Report ID: GMI5682
Published Date: Dec 2024
Report Format: PDF

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Asia Pacific Oil Storage Market Share

Asia Pacific Oil Storage Company Market Share Analysis, 2024

The Asia Pacific oil storage industry is led by prominent players such as Royal Vopak, CST Industries, NOV Inc., China National Offshore Oil, NOV, Shawcor, among others. Strategic collaborations and joint ventures between domestic and international players are reshaping the competitive landscape. For instance, partnerships aimed at developing large-scale storage terminals and integrating them with transportation networks are enabling efficient oil distribution across the region. The growing role of independent storage operators, alongside national oil companies, is adding diversity to the market, fostering competition, and driving infrastructure upgrades.

Asia Pacific Oil Storage Market Companies

Major players operating in the Asia Pacific oil storage industry are:

Anson International
China National Offshore Oil
CST Industries
Ergil
Indian Oil Corporation Ltd.
Korea National Oil Corporation
NOV
Oil and Natural Gas
Petron
Reliance Industries
Royal Vopak
Shawcor
Sinopec
SK Energy
Superior Tank
T Bailey
Waterford Tank & Fabrication

Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The market size for oil storage in Asia Pacific reached 396.2 million cubic meters in 2024 and is set to grow at a 2.9% CAGR from 2025 to 2034, driven by rising energy demand and expanding refining capacity.

The crude oil segment is expected to grow at a CAGR of over 3% through 2034, propelled by its pivotal role in managing production fluctuations and the rising demand for storing refined products.

China's market is set to reach over 452 million cubic meters by 2034, led by the country's growing energy demand, rising crude oil imports, and strategic focus on energy security.

The key players in the industry include Anson International, China National Offshore Oil, CST Industries, Ergil, Indian Oil Corporation Ltd., Korea National Oil Corporation, NOV, Oil and Natural Gas, Petron, Reliance Industries, Royal Vopak, Shawcor, Sinopec, SK Energy, Superior Tank, T Bailey, and Waterford Tank & Fabrication.