The Oil Storage Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Oil Storage Market?
The Oil Storage Global Market Report 2025 indicates that the market size of the oil storage sector has consistently expanded in the past few years. It is projected to increase from $10.31 billion in 2024 to $10.8 billion in 2025, with a compound annual growth rate (CAGR) of 4.7%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Oil Storage Industry?
The projected market size for the oil storage global market in 2029 is expected to reach $14.03 billion, with a compound annual growth rate (CAGR) of 6.8%.
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What are the Key Growth Drivers Fueling the Oil Storage Market?
The key drivers in the oil storage market are:
• Government support for the oil storage industry
• Rising levels of urbanization worldwide
• Expansion and growth of the petrochemical industry
• Rising global consumption of crude oil products
Global Market Segmentation: Identifying Major Oil Storage Industry Segments
The oil storage market covered in this report is segmented –
1) By Product Design: Open Top Tank, Fixed Roof Tank, Floating Roof Tank, Other Designs
2) By Type: Crude Oil, Gasoline, Aviation Fuel, Naphtha, Diesel, Kerosene, Liquefied Petroleum Gas (LPG)
3) By Materials: Steel, Carbon Steel, Fiberglass Reinforced Plastic (FRP), Other Materials
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What are the Emerging Trends Shaping the Future of the Oil Storage Market?
The key trends in the oil storage market are:
• The use of Internet of Things (IoT) in oil storage is a prominent upcoming trend.
• There is an upward trend in investment within the oil storage market.
• Market growth is being driven by a surge in product innovations.
• The market is also being significantly shaped by government support and rising urbanization.
Who Are the Top Competitors & Leading Players in the Oil Storage Market?
Major companies in the oil storage market are:
• NOV Inc.
• Chemie Tech
• Shawcor Ltd
• CST Industries
• PermianLide (Permian Tank)
• McDermott International Ltd
• Snyder Industries
• Toyo Kanetsu KK
• Superior Tank Co. Inc.
• Ishii Iron Works Co Ltd.
• Oil India Ltd
• Reliance Industries Ltd
• China National Petroleum Corporation
• China National Offshore Oil Corporation
• Shaanxi Yanchang Petroleum
• Sinochem Group
• JAPAN OIL Development Co. Ltd. Minato-Ku
• Japan Petroleum Exploration Co. Ltd
• Sakhalin Oil and Gas Development Co. Ltd
• Japan Organization for Metals and Energy Security
• Air Liquide Japan G.K.
• BPA British Pipelines Agency
• CLH Compañía Logística de Hidrocarburos
• GPSS Government Pipelines and Storage System
• LCC Lissan Coal Company
• OPA Oil and Pipelines Agency
• PSD Petroleum Storage Depo
• Rosneft
• Surgutneftegas
• Gazprom
• LukOil
• Transneft
• Climbex S.A.
• VIG Sp. z o.o
• ETG Risorse e Tecnologia S.r.l
• Balcke-Durr GmbH
• Suncor
• Canadian Natural
• Husky Energy
• PDC Energy Inc.
• Kinetik Holdings Inc.
• Nustar Energy L.P.
• Delek US Holdings Inc.
• Exxon Mobil Corporation
• Chevron Argentina SRL
• YPF SA
• Brooge Energy
• Gulf Energy Maritime (GEM)
• Hansa Tankers
• Odfjell Tankers
• Petrochem Middle East (PME)
• Ace Tankers
• Engen Petroleum
• Vivo Energy
• MOL Group
• Stolt-Nielsen Limited
Regional Dominance: Which Area Leads the Global Template Market?
North America was the largest region in the oil storage market in 2024
