The top five companies in the global oil storage
market accounted for a combined share of just over 67% in 2014. These
players are Royal Vopak N.V., Kinder Morgan Inc., Oiltanking GmbH,
Buckeye Partners L.P., and NuStar Energy L.P. Transparency Market
Research has found that the degree of competition in the increasingly
capital-intensive oil storage market is extremely high and the threat
of new entrants is likely to remain moderate throughout the forecast
period.
Looking to strengthen their foothold in the global
oil storage market, an increasing number of companies have been
resorting to strategic alliances, partnerships, mergers,
acquisitions, and joint ventures. “These strategies have enabled
companies to raise funds for the development of new pipelines and
storage facilities, the expansion of terminal networks, and the
expansion of crude oil storage infrastructure,” the author of the
TMR study states.
This 112 page report gives
readers a comprehensive overview of the Oil Storage
market.Browse through 6 data tables and 159
figures to unlock the hidden opportunities in this market@
Kinder Morgan is an excellent example. Currently
focused on enhancing terminal and storage infrastructure across North
America, the industry giant acquired Hiland Partners in February 2015
for US$3 bn.
Ongoing Expansion of Oil Storage Capacities
Driving Growth
“The global supply of crude oil has surpassed
its demand and this has resulted in the need for oil storage
facilities,” a TMR analyst states. This changing trend in the oil
industry has given rise to oil inventories over the years. Companies
have been striving to expand storage capacity, especially refineries
in Asia Pacific and Europe. In addition to this, the swift rise in
road travel has spurred the demand for finished petroleum products,
which, in turn, has fueled the need for future storage capacity
expansions. This has given the global oil storage market a
significant boost. For instance, in 2015, CLH Group invested over
US$200 mn to build integrated storage and transportation networks,
including thousands of kilometers of storage facilities.
In contrast, TMR has observed that high initial
investments and lengthy approval processes required for setting up
and expansion oil storage facilities have restricted the growth of
the global market.
“However, higher return on investment in the
long term is likely to give players in the oil storage market the
push they need,” the author of the study predicts.
Opportunities Galore in APAC Oil Storage Market
The global oil storage market is poised to expand
at a 4.73% CAGR by volume from 2016 to 2024, reporting a rise from
1,337 mn cubic meters in 2014 to 2,027 mn cubic meters by the end of
the forecast period. The Middle East and Africa region is the leading
contributor in the global oil storage market with a 30% share in
2014, followed by North America and Europe. “Although Asia Pacific
comes in fourth in terms of market share, the region is anticipated
to trail the MEA oil storage market in terms of percentage growth
from 2016 to 2024,” the analyst predicts.
Get accurate market forecast and analysis on
the Oil Storage market. Request a sample to stay abreast on the key
trends impacting this market@
By type of reserve, strategic petroleum reserves
were the key contributor in 2014, followed by commercial petroleum
reserves. By type of product, crude oil led the overall oil storage
market in 2014 and will continue this trend through 2024.
This review is based on the findings of a TMR
report titled “Oil Storage Market: Global Industry Analysis,
Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
Oil Storage Market – Type of Storage Segment
Analysis
- Open Top Tanks
- Fixed Roof Tanks
- Floating Roof Tanks
- Other Storage Facilities
Oil Storage Market – Product Type Segment
Analysis
- Crude Oil
- Gasoline
- Aviation Fuel
- Middle Distillates
Oil Storage Market – Reserve Type Segment
Analysis
- Strategic Petroleum Reserve
- Commercial Petroleum Reserve
About
Us
Transparency Market Research (TMR) is a global market intelligence
company providing business information reports and services. The
company’s exclusive blend of quantitative forecasting and trend
analysis provides forward-looking insight for thousands of decision
makers. TMR’s experienced team of analysts, researchers, and
consultants use proprietary data sources and various tools and
techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team
of research experts so that it always reflects the latest trends and
information. With extensive research and analysis capabilities,
Transparency Market Research employs rigorous primary and secondary
research techniques to develop distinctive data sets and research
material for business reports.
Contact
Us
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
No comments:
Post a Comment