Selbyville, DE -- (SBWire) -- 11/05/2018 --Oil Storage Market is set to surpass 1.2 bcm by 2024. Growing spending toward development of storage facilities from petrochemical and refineries to fulfil the increased demand for refined products will drive oil storage Market. For Instance, Klaip?da terminal announced to construct six refined storage facilities of 20,000 cubic meters capacity with the investment of USD 42.9 million in 2017.Increasing focus toward construction and renovation of refinery units will further stimulate the business outlook.
Request a sample of this premium report at: https://www.marketstudyreport.com/request-a-sample/467835/
Volatile fossil fuel prices along with underperforming crude processing capacity and growing hydrocarbon production from countries including Nigeria, Iran and Libya will propel the oil storage market. According to Energy Information Administration (EIA), crude oil production increased by 42.3%in 2018 from 2017 level. The demand and supply gap, resulting in a global crude oil surplus will further fuel the industry landscape.
Floating roof tank market is anticipated to gain over 3% by 2024. These are used to store low and medium flash point liquids including crude, aviation fuel and other middle distillates. Ability to offer lower particulate matter emissions and reduce petroleum product losses will enhance the product penetration.
Aviation fuel accounted for more than 10% of the global oil storage market in 2017. Growing transportation sector with several regional connectivity schemes including UDAN will augment the business outlook. For instance, in 2017, over 3 billion passengers/year travel by commercial planes worldwide.
Europe oil storage market is predicted to expand 2 % by 2024. Increasing inorganic growth venture activities among the giant players coupled with growing trade movement of crude oil and petroleum product will augment the business outlook. For instance, in 2017, Cr?dit Agricole Assurances acquired over 40% share of MSSFH, to gain market share in France.
Request a discount on standard prices of this premium report at: https://www.marketstudyreport.com/check-for-discount/467835/
Indonesia oil storage Market is predicted to witness a significant growth owing to availability natural resources. For instance, Indonesia held proven reserves of 7 billion of oil and over 150 trillion cubic feet of natural gas. Introduction of several initiatives to promote the development of undeveloped O&G field will further strengthen the business landscape. Government has introduced tax schemes and production sharing contracts to support the development of O&G field.
Major players across the industry include Waterford Tank & Fabrication, Roth, CST Industries, Sri Ranga Industries, Superior Tank, L.F. Manufacturing, Hydrotherm Engineering Services, Vopak, Elixir, Tianjin Anson International Company, ZCL Composites, Synalloy (Palmer), Denali and Ergil.
Table of Content:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Oil Storage Market Industry Insights
Chapter 4. Oil Storage Market, By Reserve
Chapter 5. Commercial Oil Storage Market, By Product
Chapter 6. Oil Storage Market, By End use
Chapter 7. Oil Storage Market, By Region
Chapter 8. Company Profiles
More Details on this Report At: https://www.marketstudyreport.com/reports/oil-storage-market
Related Reports: -
Oil Refining Market Share & Forecast, 2018 - 2024
Growing investment toward the expansion, upgradation and refurbishment of prevailing refinery facilities will fuel the global oil refining market share. In April 2018, Saudi Aramco declared an investment worth USD 44 billion in India to establish integrated refining units and petrochemical complex in the nation.
https://www.marketstudyreport.com/reports/oil-refining-market/?utm_source=RR-PSR
About Market Study Report
Marketstudyreport.com allows you to manage and control all corporate research purchases to consolidate billing and vendor management. You can eliminate duplicate purchases and customize your content and license management.
Contact Us:
Market Study Report
4 North Main Street,
Selbyville, Delaware 19975
USA
Phone: 1-302-273-0910
US Toll Free: 1-866-764-2150
Email: sales@marketstudyreport.com
Website: https://www.marketstudyreport.com
Blog: https://www.marketstudyreport.com/blog
Worldwide Oil Storage Market Size, Status, Top Players Like Waterford Tank & Fabrication, Roth, CST Industries, Sri Ranga Industries, Superior Tank, L.F. Manufacturing
MarketStudyReport.com offers 2018 report on global Oil Storage market that evaluates industry growth trends through historical data and estimates future prospects based on comprehensive research. The report extensively provides the market share, growth, trends and forecasts for the period 2018-2024.