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Oil Storage Market Share

Report ID: GMI803
Published Date: Oct 2022
Report Format: PDF

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Oil Storage Market Share

Top participants operating in the oil storage market are

CST Industries
NOV Inc.
Ascent Industries Co.
Snyder Industries
LF Manufacturing
Fisher Tank Company
Superior Tank Co., Inc.
Royal Vopak
ElixirPro Engineering Solutions Pvt. Ltd.
SHAWCOR
Waterford Tank & Fabrication
ERGIL
T BAILEY, Inc.

These firms are emphasizing on collaborative facility developments to improve access to refined oil and reinforce their footprint across the global market.

For instance, in June 2022, Royal Vopak signed an agreement to manufacture three LNG gate terminals with N.V. Nederlandse Gasuni in Northwest Europe. The intention behind this collaboration was to ensure supply chain security and resiliency. This project, scheduled for commencement in the second half of 2023, will strengthen the presence of the companies in the industry.

Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The market size of oil storage crossed 790 million cubic meters in 2021 and is set to exhibit more than 3.5% growth rate between 2022 and 2030.

The floating roof product segment is poised to depict over 4% CAGR through 2030, due to the strong demand for medium and low flash point petroleum storage systems.

Asia Pacific region is anticipated to hold around 43% of global market share by 2030, considering the high emphasis on crude oil stockpiling for commercial and emergency applications.

CST Industries, NOV Inc., Ascent Industries Co., Snyder Industries, LF Manufacturing, Fisher Tank Company, Superior Tank Co., Inc., Royal Vopak, SHAWCOR, ERGIL, and T BAILEY, Inc. are some of the major market participants.