Portland, OR -- (SBWIRE) -- 06/27/2017 -- Oil storage is a type of trade where the vertically-integrated oil companies purchase oil for immediate delivery and storage at the time when the price of oil is low, and is kept in storage until the price of oil increases. Oil production has prompted the suppliers to improve their inventories and infrastructure to store large quantities of crude oil. In addition to pricing, oil storage also offers protection from short time supply fluctuations of crude and its derivatives. Various countries including the U.S., China, and India adopt stockpiling initiatives to minimize the fluctuating oil prices and ensure consistent supply to the end users.

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Further, the regulations on oil storage, technological advancements leading to innovative product designs offering high durability, and high degree of product containment are some of the key factors for the market growth. Initiatives such as Strategic Petroleum Reserve for stockpiling large volumes of oil has enabled the government of the developing as well as the developed countries to protect the supply from price hikes and stock out incidents. This storage acts as a significant source of energy and power leading to achievement of sustainable targets, thereby promoting the market growth. However, decline in exploration and production of crude oil and the decrease in production investments is expected to hinder the market growth to some extent.

Key market players in this sector involve ZCL Composites, Belco Manufacturing, Containment Solutions, Sunoco Logistics, Oiltanking GmbH, Columbian Steel Tank, Poly Processing, Synalloy (Palmer), L.F. Manufacturing, Red Ewald, Inc., Holvrieka, and Vopak.

Oil Storage Market Key Segments:

By Fuel
-Crude Oil
-Gasoline
-Aviation Fuel
-Middle Distillates
-LNG
-LPG

By Product Type
-Open Top
-Fixed Roof
-Floating Roof

By Material
-Steel
-Carbon Steel
-Fiberglass Reinforced Plastic

By Geography
-North America
-U.S.
-Canada
-Mexico

-Europe
-Germany
-Spain
-UK
-Russia
-France
-Rest of Europe

-Asia-Pacific
-China
-India
-Japan
-Australia
-Korea
-Rest of Asia-Pacific

-LAMEA
-Brazil
-Turkey
-South Africa
-Rest of LAMEA

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