Lewes, DE -- (SBWIRE) -- 06/19/2017 -- Report forecast the global oil and gas storage market to grow at a CAGR of 2.92% during the period 2017-2021.

Oil and gas storage refers to the mechanisms employed for the safe storage of crude oil, natural gas, and other petroleum products and comprehensively includes large tanks, underground and above ground storage facilities, and sea tankers. Crude oil and natural gas (NG) are naturally occurring resources found in geological formations beneath the earth's surface.

The report covers the present scenario and the growth prospects of the global oil and gas storage market for 2017-2021. To calculate the market size, the report considers new oil and gas storage capacities such as oil storage tankers, oil storage fleets, terminals and excludes retrofit/ replacement/ aftermarket.

The market is divided into the following segments based on geography:
- Americas
- APAC
- EMEA

According to the report, one driver in the market is decline in crude oil prices. Petroleum fuel is the most traded commodity in the world. Private trading companies have a presence in various international and local energy trading hubs and exchanges. They bring the buyer and supplier of crude oil and natural gas together and effect a sale. The market for crude oil is unstable, and its pricing is hard to predict due to its complex value chain and supply chain.

Further, the report states that one challenge in the market is threat of theft and technical challenges related to storage systems. Crude oil and natural gas are stored in large tanks in tank farms. Crude oil and petroleum products are usually stored in circular floating roof tanks whereas natural gas and liquefied petroleum gas (LPG) are stored in spherical tanks. LNG is stable under atmospheric pressure and hence, can be stored in circular or spherical tanks.

Global Oil and Gas Storage Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the global oil and gas storage market: Amec Foster Wheeler, Magellan Midstream Partners, Royal Vopak, TechnipFMC, Vitol, and WorleyParsons.

Other Prominent Vendors in the market are: Blueknight Energy Partners, Buckeye Partners, Centrica, Chiyoda, CIM-CCMP, CLH, DaLian Port (PDA) Company, HORIZON TERMINALS, Kinder Morgan, NuStar Energy, Odfjell, Oiltanking, and Ramboll.

Market driver
- Decline in crude oil prices
- For a full, detailed list, view our report

Market challenge
- Threat of theft and technical challenges related to storage systems
- For a full, detailed list, view our report

Market trend
- Solidified natural gas technology for natural gas storage
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2021 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

Spanning over 70 pages "Global Oil and Gas Storage Market 2017 - 2021" report covers Executive summary, Scope of the report, Research Methodology, Introduction, Market landscape, Geographical segmentation, Market segmentation by product type, Market segmentation by storage type, Decision framework, Drivers and challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.

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