Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
---|---|---|---|
USD 16.83 Billion | USD 25.28 Billion | 4.3% | 2024 |
FrequentlyAsked Questions
The global oil storage market is expected to grow due to rising global energy demand, increasing oil production, and growing investments in strategic petroleum reserves.
According to a study, the global oil storage market size was worth around USD 16.83 Billion in 2024 and is expected to reach USD 25.28 Billion by 2034.
The global oil storage market is expected to grow at a CAGR of 4.3% during the forecast period.
Middle East & Asia-Pacific is expected to dominate the oil storage market over the forecast period.
Leading players in the global oil storage market include Vitol Tank Terminals International BV (VTTI); Koninklijke Vopak NV; Oiltanking GmbH; Shawcor Ltd.; Buckeye Partners, L.P.; Containment Solutions Inc, ZCL Composites; Belco Manufacturing; Zepnotek Storage; and Columbian Steel Tank, among others.
The report explores crucial aspects of the oil storage market, including a detailed discussion of existing growth factors and restraints, while also examining future growth opportunities and challenges that impact the market.
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