Report Description

Forecast Period

2024-2028

Market Size (2022)

USD 2.16 billion

CAGR (2023-2028)

3.71%

Fastest Growing Segment

Refinery

Largest Market

North America

 

Market Overview

The Global Oil & Gas Storage Services Market was valued at USD 2.16 billion in 2022 and is growing at a CAGR of 3.71% during the forecast period. The growing utilization of natural gas in power generation stands as a prominent trend in the global oil and gas storage service market, driving substantial market growth. Natural gas is gaining popularity worldwide as a viable alternative to fossil fuels in power generation due to its lower carbon dioxide emissions compared to coal and other fossil fuels. This increased adoption of natural gas for power generation necessitates efficient natural gas storage services. These factors collectively contribute to a positive outlook for the oil and gas storage service market.

Key Market Drivers

Increasing Global Energy Demand and Consumption     

The global market for oil and gas storage services is significantly influenced by the continuous growth in global energy demand and consumption. This phenomenon is driven by various factors, including population growth, urbanization, industrialization, and rising living standards. As more individuals gain access to modern amenities and technologies, the demand for energy sources, such as oil and natural gas, continues to surge.

One key driver of this escalating demand is the expanding global population. With the world's population expected to reach nearly 9 billion by 2030, there is a growing need for energy to power homes, transportation, industries, and various other sectors. As economies develop, they rely more on energy-intensive processes, further propelling the demand for oil and gas.

Urbanization is another significant contributor to increased energy consumption. As individuals move from rural areas to cities, they often adopt more energy-intensive lifestyles. Urban centers require energy for transportation, heating and cooling, and a myriad of other services, all of which depend heavily on oil and gas products.

Furthermore, industrialization is a major factor in the surging demand for oil and gas. Developing nations, in particular, are establishing and expanding their manufacturing sectors, which heavily rely on these fossil fuels. The need for energy in these sectors is non-negotiable, making secure and accessible oil and gas storage facilities crucial.

In summary, the growth in global energy demand and consumption, driven by population growth, urbanization, and industrialization, acts as a powerful driver for the oil and gas storage services market. To meet this ever-increasing demand, storage infrastructure must be expanded and modernized to ensure a stable supply of these essential resources.

Volatility in Oil and Gas Prices and Supply   

The oil and gas storage services market is heavily influenced by the inherent volatility in oil and gas prices and supply. These fluctuations are driven by a complex interplay of factors that impact both the demand and supply sides of the energy equation.

One significant driver of price volatility is geopolitical instability. Events such as conflicts in major oil-producing regions, changes in government policies, or sanctions on oil-exporting countries can disrupt the global supply of oil and gas. When supply is disrupted or perceived to be at risk, it can lead to sudden spikes in prices and increased demand for storage services.

Market dynamics also play a crucial role in price volatility. Factors such as changes in global economic conditions, shifts in energy consumption patterns, and technological advancements can impact the supply and demand for oil and gas. For instance, the emergence of renewable energy sources and energy efficiency measures can reduce the demand for fossil fuels, affecting both prices and storage requirements.

Another critical driver of price volatility is the impact of natural disasters on oil and gas infrastructure. Hurricanes, earthquakes, and other catastrophic events can damage production facilities, pipelines, and storage tanks, disrupting the supply chain and causing price fluctuations. Consequently, the need for secure and resilient storage facilities becomes evident.

In summary, the oil and gas storage services market is significantly driven by the volatility in oil and gas prices and supply. This volatility arises from geopolitical factors, market dynamics, and natural disasters, underscoring the importance for businesses and governments to have access to reliable storage solutions to navigate the uncertainties in the energy sector.

Regulatory Compliance and Environmental Concerns    

Regulatory compliance and environmental concerns play a pivotal role in driving the global oil and gas storage services market. Governments and international organizations impose rigorous regulations to ensure the safe and environmentally responsible storage of oil and gas products. These regulations aim to mitigate the risks associated with spills, leaks, emissions, and other environmental hazards.

One of the primary catalysts in this context is the emphasis on reducing greenhouse gas emissions and addressing climate change. Numerous countries have committed to lowering their carbon footprint by transitioning to cleaner energy sources and minimizing the environmental impact of fossil fuels. Consequently, regulations have been enacted to mandate the adoption of advanced technologies and practices for oil and gas storage, with the aim of minimizing emissions and leakage.

Furthermore, concerns regarding the safety and security of oil and gas infrastructure drive regulatory requirements for storage facilities. Accidents, such as oil spills and explosions, can have severe consequences for the environment and public health. Governments, therefore, enforce stringent guidelines to ensure that storage facilities are designed, operated, and maintained to minimize these risks.

The imperative to maintain energy security also serves as a driver for regulatory compliance. Governments often stipulate minimum levels of strategic petroleum reserves to ensure a stable energy supply during emergencies or disruptions in supply. These reserves must be stored safely and efficiently, creating additional demand for storage services.

In conclusion, regulatory compliance and environmental concerns significantly impact the oil and gas storage services market. Governments worldwide are imposing stricter regulations to reduce emissions, enhance safety, and ensure energy security, making compliance with these regulations a critical aspect of the industry. Meeting these requirements necessitates investment in advanced storage infrastructure and technologies, thereby driving market growth.


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Key Market Challenges

Infrastructure Investment and Capacity Expansion    

One of the primary challenges facing the global oil and gas storage services market is the imperative for substantial infrastructure investment and capacity expansion. As the demand for oil and gas continues to surge worldwide, it is crucial for storage facilities to keep pace and maintain a stable and reliable supply chain. Nevertheless, expanding storage capacity is a complex and capital-intensive undertaking that presents several hurdles.

First and foremost, the construction of new storage facilities or the expansion of existing ones necessitates significant financial resources. Companies operating in the oil and gas sector must make substantial investments in land acquisition, construction, and technology upgrades. This can strain their budgets and impede their ability to promptly adapt to changing market conditions.

Secondly, the process of obtaining permits and approvals for new storage projects can be protracted and challenging. Environmental regulations, safety standards, and land-use regulations vary across regions, and navigating these complexities can lead to project delays and increased costs.

Lastly, identifying suitable locations for storage facilities can be challenging. Ideally, these sites should be strategically situated near key transportation hubs, refineries, and distribution networks. As urbanization and environmental concerns grow, identifying appropriate locations that meet both logistical and regulatory requirements becomes increasingly demanding.

Regulatory Compliance and Environmental Responsibility  

The oil and gas storage services market faces a persistent challenge related to regulatory compliance and environmental responsibility. Governments and international organizations are continually tightening regulations to minimize the environmental impact of oil and gas operations. These regulations often require storage facilities to adopt advanced technologies and practices, which can be costly and complex to implement.

One key regulatory challenge is the reduction of greenhouse gas emissions. Governments worldwide are committed to reducing carbon emissions to combat climate change. Consequently, storage facilities must invest in emission-reduction technologies, leak detection systems, and pollution control measures. Ensuring compliance with these regulations can be costly and may require retrofitting existing storage infrastructure.

Another challenge arises from safety regulations. Accidents, such as oil spills or explosions, pose significant risks to the environment and public health. Compliance with safety regulations often necessitates the use of advanced monitoring systems, safety protocols, and emergency response plans. Meeting these requirements adds operational complexity and cost to storage facilities.

Moreover, the need for stringent maintenance and inspections to ensure compliance can lead to downtime and reduced storage capacity. Balancing the imperative to meet regulatory requirements with the need to maintain operational efficiency presents an ongoing challenge for the industry.

Price Volatility and Market Uncertainty

The global market for oil and gas storage services is profoundly impacted by price volatility and market uncertainty. Fluctuations in oil and gas prices can have a profound influence on the demand for storage services, presenting challenges for facility operators and their customers.

One of the key challenges is maintaining revenue stability. Storage facility operators often rely on long-term contracts with fixed fees to secure their revenue streams. However, when oil and gas prices experience sharp fluctuations, customers may seek to renegotiate contracts, leading to revenue uncertainties. Additionally, economic downturns can result in reduced demand for storage services, further impacting revenue.

Market uncertainty also plays a crucial role in investment decisions. Storage facility operators need to make significant investments in capacity expansion and technology upgrades. However, during volatile or oversupplied market conditions, operators may hesitate to invest, concerned that the return on investment may not justify the expenditure.

Furthermore, geopolitical events and supply disruptions can introduce unpredictability into the oil and gas market. These events can create sudden surges in demand for storage services as companies strive to secure their supply chains. Storage facilities must demonstrate agility in responding to these spikes in demand while maintaining operational efficiency.

In conclusion, the global market for oil and gas storage services faces notable challenges related to infrastructure investment, regulatory compliance, and market volatility. Navigating these challenges demands meticulous planning, financial resilience, a commitment to environmental responsibility, and the ability to adapt to evolving market conditions and demand dynamics.

Key Market Trends

Growing Demand for Strategic Storage Facilities     

One notable trend in the global market for oil and gas storage services is the increasing demand for strategic storage facilities. These facilities are designed to stockpile substantial volumes of oil and gas reserves, ensuring energy security during emergencies, supply disruptions, or geopolitical crises. There are several factors driving this trend.

Firstly, concerns about energy security have escalated in recent years. Countries are recognizing the importance of maintaining a buffer of strategic reserves to safeguard against unexpected disruptions in supply. This realization has prompted governments and energy companies to invest in expanding and modernizing their strategic storage infrastructure.

Secondly, the unpredictability of global energy markets and geopolitical tensions has underscored the need for strategic storage. Countries aim to reduce their vulnerability to supply shocks caused by events such as conflicts in major oil-producing regions or sudden changes in trade dynamics. As a result, they are actively building and replenishing their strategic reserves.

Lastly, the COVID-19 pandemic, which caused severe disruptions in the oil and gas industry, has emphasized the importance of robust storage facilities. It served as a wake-up call for governments and industry players to reassess their storage capabilities and invest in ensuring a stable energy supply during crises.

As a result of these factors, the increasing demand for strategic storage facilities is expected to persist. This trend will likely drive investments in the construction and maintenance of such facilities, contributing to the expansion of the oil and gas storage services market.

Embracing Digitalization and Automation      

Another significant trend in the global oil and gas storage services market is the increasing adoption of digitalization and automation technologies. This trend is driven by the imperative to enhance operational efficiency, improve safety, and reduce costs in storage facilities.

One key aspect of this trend is the implementation of advanced monitoring and control systems. These systems leverage sensors, IoT devices, and data analytics to continuously monitor storage conditions, such as temperature, pressure, and inventory levels. Real-time data enables operators to proactively identify issues, optimize storage operations, and minimize downtime.

Moreover, automation technologies are deployed to streamline routine tasks and minimize human intervention in hazardous environments. Automated loading and unloading systems, robotic inspections, and remotely operated valves are examples of technologies that enhance safety and efficiency while reducing labor costs.

Furthermore, the oil and gas storage sector is witnessing the growing adoption of digital twin technology. By creating virtual replicas of storage facilities, operators can simulate various scenarios, optimize storage capacity, and plan maintenance activities more efficiently. This proactive approach helps prevent costly downtime and ensures the seamless operation of storage facilities.

Additionally, the integration of artificial intelligence (AI) and machine learning is revolutionizing predictive maintenance in storage facilities. These advanced technologies analyze historical data to predict equipment failures and prescribe maintenance schedules, thereby reducing unplanned downtime and improving asset longevity.

Overall, the trend towards embracing digitalization and automation is reshaping the oil and gas storage services market, empowering operators to achieve higher levels of efficiency, safety, and cost-effectiveness. It serves as a cornerstone of innovation within the industry.

Segmental Insights

Service Insights

The Storage Service segment holds a significant market share in the Global Oil & Gas Storage Services Market.  The storage service segment plays a crucial role in the global oil and gas storage services market. It encompasses a wide range of services related to the safe and efficient storage of crude oil, natural gas, refined products, and other hydrocarbons.

Tank storage facilities are widely used and time-tested methods for storing oil and gas products. These facilities consist of above-ground and underground tanks designed to hold various petroleum products. They are essential for maintaining a strategic petroleum reserve, blending different crude oil types, and storing refined products such as gasoline and diesel.

Underground storage facilities, such as salt caverns and depleted reservoirs, offer secure and large-scale storage options for oil and natural gas. These facilities are invaluable for emergency reserves and seasonal storage.

Storage service providers often provide inventory management services, including tracking and optimizing inventory levels, managing product quality, and ensuring timely deliveries. Some providers also offer logistics and transportation services to efficiently move stored products between locations. This may involve pipeline transportation, trucking, or rail services.

Storage service providers strategically locate their facilities near key transportation hubs, refineries, and major demand centers. Proximity to pipelines, ports, and distribution networks is crucial for ensuring efficient product flow. Effective management of storage capacity is essential. Providers must balance the utilization of existing storage assets while planning for future expansion to meet evolving market demands.

Product Type Insights

Crude Oil segment is expected to dominate the market during the forecast period. Energy companies and nations maintain strategic reserves, which contribute to the continuous demand for crude oil storage. Financial markets and traders require storage facilities for speculative and trading purposes, thereby impacting the demand.

The development of advanced materials is enhancing the integrity and longevity of storage tanks and infrastructure. The growth in emerging markets, such as Asia-Pacific and Africa, is driving the need for additional storage capacity. Consolidation is a common practice in the storage services market as companies aim to expand their footprint and enhance their service offerings.

Ongoing advancements in renewable energy sources and efforts to reduce fossil fuel consumption may have an impact on long-term storage demand. Sustainability and environmental concerns will increasingly shape the future of crude oil storage, influencing both regulations and industry practices. In summary, the crude oil segment within the global oil and gas storage services market is characterized by its sensitivity to global energy demand, geopolitical factors, and market volatility. It faces challenges related to overcapacity and environmental regulations but also benefits from technological advancements and strategic positioning near key oil-producing and consuming regions. The future of this segment will depend on the evolving energy landscape and sustainability considerations.


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Regional Insights

The North America region is expected to dominate the market during the forecast period. North America plays a crucial role in the global market for oil and gas storage services due to its significant energy consumption, abundant domestic production, and strategic importance in the global energy landscape. North America has made substantial progress towards achieving energy independence, primarily driven by the shale revolution in the United States. The growth of shale oil and gas production has led to an increased demand for storage facilities to effectively manage the surplus. This demand is further fueled by the objective of reducing dependence on imported energy sources.

Both the United States and Canada consider strategic petroleum reserves as a critical component of their energy security strategies. These reserves require robust storage infrastructure to ensure the availability of oil during supply disruptions. Investments in maintaining and expanding these reserves continue to drive the need for storage services.

North American storage facilities are increasingly embracing digitalization and automation technologies to enhance efficiency and safety. Real-time monitoring systems, automated maintenance routines, and digital twins are becoming standard practices in modern facilities. This trend aligns with global initiatives aimed at improving operational excellence.

Sustainability is gaining momentum in North America's oil and gas storage services market. Operators are exploring opportunities to reduce emissions, improve energy efficiency, and integrate renewable energy sources into their facilities. This aligns with the broader regional and global sustainability objectives.

Recent Developments

  • In 2021, Enterprise Products Partners acquired ONEOK Partners for USD7.6 billion.

Key Market Players

  • Buckeye Partners, L.P.
  • Magellan Midstream Partners, L.P.
  • Oiltanking GmbH
  • Royal Vopak N.V.
  • Vitol Group
  • Kinder Morgan, Inc.
  • NuStar Energy L.P
  • Odfjell SE
  • International-Matex Tank Terminals (IMTT)
  • Clean Harbors, Inc

By Service

By Product Type

By End-Users

By Region

 

  • Storage Service
  • Throughput Service
  • Ancillary Service
  • Crude Oil
  • Gasoline
  • Diesel
  • Jet Fuel
  • Liquefied Petroleum Gas (LPG)
  • Heavy Fuel Oil (Residual)
  • Others
  • Refinery
  • Distributors
  • Merchant Traders
  • North America
  • Europe
  • Latin America
  • Middle East & Africa
  • Asia Pacific

 

 

 

Report Scope:

In this report, the Global Oil & Gas Storage Services Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Global Oil & Gas Storage Services Market, By Service:

o   Storage Service

o   Throughput Service

o   Ancillary Service  

  • Global Oil & Gas Storage Services Market, By Product Type:

o   Crude Oil

o   Gasoline

o   Diesel

o   Jet Fuel

o   Liquefied Petroleum Gas (LPG)

o   Heavy Fuel Oil (Residual)

o   Others               

  • Global Oil & Gas Storage Services Market, By End-Users:

o   Refinery

o   Distributors

o   Merchant Traders

  • Global Oil & Gas Storage Services Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  United Kingdom

§  Italy

§  Germany

§  Spain

o   Asia-Pacific

§  China

§  India

§  Japan

§  Australia

§  South Korea

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Oil & Gas Storage Services Market.

Available Customizations:

Global Oil & Gas Storage Services Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Oil & Gas Storage Services Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.    Markets Covered

1.2.2.    Years Considered for Study

1.2.3.    Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

4.    Voice of Customers

5.    Global Oil & Gas Storage Services Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value

5.2.  Market Share & Forecast

5.2.1.    By Service (Storage Service, Throughput Service and Ancillary Service)

5.2.2.    By Product Type (Crude Oil, Gasoline, Diesel, Jet Fuel, Liquefied Petroleum Gas (LPG), Heavy Fuel Oil (Residual) and Others)

5.2.3.    By End-Users (Refinery, Distributors and Merchant Traders)

5.2.4.    By Region

5.3.  By Company (2022)

5.4.  Market Map

6.    North America Oil & Gas Storage Services Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Service

6.2.2.    By Product Type

6.2.3.    By End-Users

6.2.4.    By Country

6.3.  North America: Country Analysis

6.3.1.    United States Oil & Gas Storage Services Market Outlook

6.3.1.1.        Market Size & Forecast

6.3.1.1.1.    By Value 

6.3.1.2.        Market Share & Forecast

6.3.1.2.1.    By Service

6.3.1.2.2.    By Product Type

6.3.1.2.3.    By End-Users

6.3.2.    Canada Oil & Gas Storage Services Market Outlook

6.3.2.1.        Market Size & Forecast

6.3.2.1.1.    By Value 

6.3.2.2.        Market Share & Forecast

6.3.2.2.1.    By Service

6.3.2.2.2.    By Product Type

6.3.2.2.3.    By End-Users

6.3.3.    Mexico Oil & Gas Storage Services Market Outlook

6.3.3.1.        Market Size & Forecast

6.3.3.1.1.    By Value 

6.3.3.2.        Market Share & Forecast

6.3.3.2.1.    By Service

6.3.3.2.2.    By Product Type

6.3.3.2.3.    By End-Users

7.    Asia-Pacific Oil & Gas Storage Services Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Service

7.2.2.    By Product Type

7.2.3.    By End-Users

7.2.4.    By Country

7.3.  Asia-Pacific: Country Analysis

7.3.1.    China Oil & Gas Storage Services Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.    By Value 

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.    By Service

7.3.1.2.2.    By Product Type

7.3.1.2.3.    By End-Users

7.3.2.    India Oil & Gas Storage Services Market Outlook

7.3.2.1.        Market Size & Forecast

7.3.2.1.1.    By Value 

7.3.2.2.        Market Share & Forecast

7.3.2.2.1.    By Service

7.3.2.2.2.    By Product Type

7.3.2.2.3.    By End-Users

7.3.3.    Japan Oil & Gas Storage Services Market Outlook

7.3.3.1.        Market Size & Forecast

7.3.3.1.1.    By Value 

7.3.3.2.        Market Share & Forecast

7.3.3.2.1.    By Service

7.3.3.2.2.    By Product Type

7.3.3.2.3.    By End-Users

7.3.4.    South Korea Oil & Gas Storage Services Market Outlook

7.3.4.1.        Market Size & Forecast

7.3.4.1.1.    By Value 

7.3.4.2.        Market Share & Forecast

7.3.4.2.1.    By Service

7.3.4.2.2.    By Product Type

7.3.4.2.3.    By End-Users

7.3.5.    Australia Oil & Gas Storage Services Market Outlook

7.3.5.1.        Market Size & Forecast

7.3.5.1.1.    By Value 

7.3.5.2.        Market Share & Forecast

7.3.5.2.1.    By Service

7.3.5.2.2.    By Product Type

7.3.5.2.3.    By End-Users

8.    Europe Oil & Gas Storage Services Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Service

8.2.2.    By Product Type

8.2.3.    By End-Users

8.2.4.    By Country

8.3.  Europe: Country Analysis

8.3.1.    Germany Oil & Gas Storage Services Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.    By Value 

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.    By Service

8.3.1.2.2.    By Product Type

8.3.1.2.3.    By End-Users

8.3.2.    United Kingdom Oil & Gas Storage Services Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.    By Value 

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.    By Service

8.3.2.2.2.    By Product Type

8.3.2.2.3.    By End-Users

8.3.3.    France Oil & Gas Storage Services Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.    By Value 

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.    By Service

8.3.3.2.2.    By Product Type

8.3.3.2.3.    By End-Users

8.3.4.    Italy Oil & Gas Storage Services Market Outlook

8.3.4.1.        Market Size & Forecast

8.3.4.1.1.    By Value 

8.3.4.2.        Market Share & Forecast

8.3.4.2.1.    By Service

8.3.4.2.2.    By Product Type

8.3.4.2.3.    By End-Users

8.3.5.    Spain Oil & Gas Storage Services Market Outlook

8.3.5.1.        Market Size & Forecast

8.3.5.1.1.    By Value 

8.3.5.2.        Market Share & Forecast

8.3.5.2.1.    By Service

8.3.5.2.2.    By Product Type

8.3.5.2.3.    By End-Users

9.    South America Oil & Gas Storage Services Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Service

9.2.2.    By Product Type

9.2.3.    By End-Users

9.2.4.    By Country

9.3.  South America: Country Analysis

9.3.1.    Brazil Oil & Gas Storage Services Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.1.1.    By Value 

9.3.1.2.        Market Share & Forecast

9.3.1.2.1.    By Service

9.3.1.2.2.    By Product Type

9.3.1.2.3.    By End-Users

9.3.2.    Argentina Oil & Gas Storage Services Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.    By Value 

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.    By Service

9.3.2.2.2.    By Product Type

9.3.2.2.3.    By End-Users

9.3.3.    Colombia Oil & Gas Storage Services Market Outlook

9.3.3.1.        Market Size & Forecast

9.3.3.1.1.    By Value 

9.3.3.2.        Market Share & Forecast

9.3.3.2.1.    By Service

9.3.3.2.2.    By Product Type

9.3.3.2.3.    By End-Users

10. Middle East & Africa Oil & Gas Storage Services Market Outlook

10.1.             Market Size & Forecast

10.1.1.               By Value

10.2.             Market Share & Forecast

10.2.1.               By Service

10.2.2.               By Product Type

10.2.3.               By End-Users

10.2.4.               By Country

10.3.             Middle East & Africa: Country Analysis

10.3.1.               Saudi Arabia Oil & Gas Storage Services Market Outlook

10.3.1.1.               Market Size & Forecast

10.3.1.1.1.           By Value 

10.3.1.2.               Market Share & Forecast

10.3.1.2.1.           By Service

10.3.1.2.2.           By Product Type

10.3.1.2.3.           By End-Users

10.3.2.               South Africa Oil & Gas Storage Services Market Outlook

10.3.2.1.               Market Size & Forecast

10.3.2.1.1.           By Value 

10.3.2.2.               Market Share & Forecast

10.3.2.2.1.           By Service

10.3.2.2.2.           By Product Type

10.3.2.2.3.           By End-Users

10.3.3.               UAE Oil & Gas Storage Services Market Outlook

10.3.3.1.               Market Size & Forecast

10.3.3.1.1.           By Value 

10.3.3.2.               Market Share & Forecast

10.3.3.2.1.           By Service

10.3.3.2.2.           By Product Type

10.3.3.2.3.           By End-Users

11. Market Dynamics

11.1.             Drivers

11.2.             Challenge

12. Market Trends & Developments

13. Company Profiles

13.1.             Buckeye Partners, L.P.

13.1.1.                Business Overview

13.1.2.                Key Revenue and Financials

13.1.3.                Recent Developments

13.1.4.                Key Personnel

13.1.5.                Key Product/Services

13.2.             Magellan Midstream Partners, L.P.

13.2.1.                Business Overview

13.2.2.                Key Revenue and Financials

13.2.3.                Recent Developments

13.2.4.                Key Personnel

13.2.5.                Key Product/Services

13.3.             Oiltanking GmbH

13.3.1.                Business Overview

13.3.2.                Key Revenue and Financials

13.3.3.                Recent Developments

13.3.4.                Key Personnel

13.3.5.                Key Product/Services

13.4.             Royal Vopak N.V.

13.4.1.                Business Overview

13.4.2.                Key Revenue and Financials

13.4.3.                Recent Developments

13.4.4.                Key Personnel

13.4.5.                Key Product/Services

13.5.             Vitol Group

13.5.1.                Business Overview

13.5.2.                Key Revenue and Financials

13.5.3.                Recent Developments

13.5.4.                Key Personnel

13.5.5.                Key Product/Services

13.6.             Kinder Morgan, Inc.

13.6.1.                Business Overview

13.6.2.                Key Revenue and Financials

13.6.3.                Recent Developments

13.6.4.                Key Personnel

13.6.5.                Key Product/Services

13.7.             NuStar Energy L.P

13.7.1.                Business Overview

13.7.2.                Key Revenue and Financials

13.7.3.                Recent Developments

13.7.4.                Key Personnel

13.7.5.                Key Product/Services

13.8.             Odfjell SE

13.8.1.                Business Overview

13.8.2.                Key Revenue and Financials

13.8.3.                Recent Developments

13.8.4.                Key Personnel

13.8.5.                Key Product/Services

13.9.             International-Matex Tank Terminals (IMTT)

13.9.1.                Business Overview

13.9.2.                Key Revenue and Financials

13.9.3.                Recent Developments

13.9.4.                Key Personnel

13.9.5.                Key Product/Services

13.10.           Clean Harbors, Inc

13.10.1.             Business Overview

13.10.2.             Key Revenue and Financials

13.10.3.             Recent Developments

13.10.4.             Key Personnel

13.10.5.             Key Product/Services

14. Strategic Recommendations

15. About Us & Disclaimer  

Figures and Tables

Frequently asked questions

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The market size of the Global Oil & Gas Storage Services Market was USD 2.16 billion in 2022.

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Storage Service segment was the dominant segment in the Global Oil & Gas Storage Services Market in 2022. The storage service segment plays a crucial role in the global oil and gas storage services market. It encompasses a wide range of services related to the safe and efficient storage of crude oil, natural gas, refined products, and other hydrocarbons.

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Infrastructure Investment and Capacity Expansion is one of the challenges of Global Oil & Gas Storage Services Market.

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Increasing Global Energy Demand and Consumption is one of the drivers of Global Oil & Gas Storage Services Market.

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Parvati Sharma

Account Manager BD
Press Release

Global Oil & Gas Storage Services Market is expected to grow at a robust CAGR

Sep, 2023

Global Oil & Gas Storage Services Market is expected to grow owing to rising consumption of fuel in the transportation sector throughout the forecast period.