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North America Oil Storage Market Size
- Report ID: GMI5716
- Published Date: Dec 2024
- Report Format: PDF
North America Oil Storage Market Size
The North America oil storage market size was marked at 166.2 million cubic meter capacity in 2024 and is estimated to grow at a CAGR of 2.4% from 2025 to 2034. The market is experiencing significant growth driven by several key business trends including the increasing demand for oil storage capacity due to fluctuating oil production and consumption patterns, particularly in the U.S., which is a major oil producer and consumer.
The rise in shale oil production and the expansion of pipelines have necessitated the development of additional storage infrastructure to manage surpluses and ensure a steady supply during periods of high demand or geopolitical instability. The market is also witnessing increased consolidation with larger players acquiring smaller, regional operators to expand their footprint and gain competitive advantages. This trend is expected to continue as companies look to optimize their storage assets and reduce operational costs.
| Report Attribute | Details |
|---|---|
| Base Year: | 2024 |
| North America Oil Storage Market Size in 2024: | USD 166.2 Million |
| Forecast Period: | 2025 – 2034 |
| Forecast Period 2025 – 2034 CAGR: | 2.4% |
| 2025 – 2034 Value Projection: | USD 212.7 Million |
| Historical Data for: | 2021 – 2024 |
| No. of Pages: | 110 |
| Tables, Charts & Figures: | 15 |
| Segments covered: | Product, end use, and country |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
North America Oil Storage Market Scope
