Global oil storage market is expected to grow at a steady rate during the forecast period. The global oil storage market is driven by the fluctuating oil prices. Additionally, different governments around the globe are focusing on increasing their oil storage capacities in order to safeguard their economy at the time of crisis. For instance, in 2020, the Government of India also announced the construction of strategic oil storage reserves construction in Vishakhapatnam, Padur and Mangalore. Furthermore, the outbreak of the pandemic novel coronavirus disease has led to the fall in the prices of crude oil below zero. The world is running out of space to store crude oil and the supply is overwhelming the demand. This in turn is expected to positively impact the growth of market during forecast period.

The global oil storage market is segmented based on type, reserve, material, fuel type, company and region. Based on type, the market can be categorized into open top, fixed roof, floating roof and others. The floating roof segment is expected to dominate the market during forecast period on account of the growing demand for storage of low and medium flash point hydrocarbons. Based on reserve, the market can be bifurcated into commercial and strategic reserves. The commercial reserves segment is expected to dominate the market during forecast period. this can be ascribed to the rising demand for petroleum products on account of increasing urbanization which in turn leads to increasing the capacity of a refinery. The strategic reserves segment is expected to witness significant growth through 2026 as governments across the globe are making investments to cater emergency supplies at the time of emergencies.

Regionally, the oil storage market has been segmented into various regions including Asia-Pacific, North America, South America, Europe, and Middle East & Africa. Among these regions, Asia Pacific is expected to witness significant growth in the overall oil storage market owing to the growing investments in onshore and offshore operations. Additionally, the increasing construction of commercial tanks for storage in countries like China, India, Singapore, among others is further expected to drive the growth of market in the region.

The major players operating in the oil storage market are ZCL Composites, Belco Manufacturing Company, Containment Solutions, Synalloy Corp., L.F. Manufacturing, Zepnotek Storage, Oiltanking GmbH, Columbian Steel Tank, Sunoco Logistics, Vitol Tank Terminals, Royal Vopak NV, Ziemann Holvrieka GmbH, Synder Industries, Tuffa Tank, Marquard & Bahls, Royal Vopak N.V., Red Ewald, Inc., Poly Processing, Denali Incorporated, CST Industries and others. Major companies are developing advanced technologies and launching new services in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments.

Years considered for this report:

Historical Years: 2016-2019

Base Year: 2020

Estimated Year: 2021

Forecast Period: 2022–2026

Objective of the Study:

  • To analyze and estimate the market size of global oil storage market from 2016 to 2019.
  • To estimate and forecast the market size of global oil storage market from 2020 to 2026 and growth rate until 2026.
  • To classify and forecast global oil storage market based on type, reserve, material, fuel type, company and regional distribution.
  • To identify dominant region or segment in the global oil storage market.
  • To identify drivers and challenges for global oil storage market.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global oil storage market.
  • To identify and analyze the profile of leading players operating in global oil storage market.
  • To identify key sustainable strategies adopted by market players in global oil storage market.


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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of oil storage providers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the oil storage providers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the oil storage providers, distribution channels and presence of all major players across the globe.

TechSci Research calculated the market size of global oil storage market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

  • Oil storage service provider companies
  • Market research and consulting firms
  • Government bodies such as regulating authorities and policy makers
  • Organizations, forums and alliances related to oil storage

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, global oil storage market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Global Oil Storage Market, By Type:
    • Open Top
    • Fixed Roof
    • Floating Roof
    • Others
  • Global Oil Storage Market, By Reserve:
    • Commercial Reserve
    • Strategic Reserve
  • Global Oil Storage Market, By Material:
    • Steel
    • Carbon Steel
    • Fiberglass Reinforced Plastic
    • Others
  • Global Oil Storage Market, By Fuel Type:
    • Crude Oil
    • Gasoline
    • Diesel
    • LPG
    • Distillates
    • Aviation Fuel
    • Others
  • Global Oil Storage Market, By Region:
    • North America
      • United States
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • United Kingdom
      • Italy
      • Spain
    • Asia-Pacific
      • China
      • Japan
      • India
      • South Korea
      • Australia
    • Middle East & Africa
      • South Africa
      • Saudi Arabia
      • UAE
      • Kuwait
    • South America
      • Brazil
      • Argentina
      • Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global oil storage market.

Available Customizations:

With the given market data, TechSci 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).
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1.    Product Overview

2.    Research Methodology

3.    Impact of COVID-19 on Global Oil Storage Market

4.    Executive Summary

5.    Voice of Customer

6.    Global Oil Storage Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value & Volume

6.2.  Market Share & Forecast

6.2.1.     By Type (Open Top, Fixed Roof, Floating Roof, Others)

6.2.2.     By Reserve (Commercial Reserve Vs Strategic Reserve)

6.2.3.     By Material (Steel, Carbon Steel, Fiberglass Reinforced Plastic, Others)

6.2.4.     By Fuel Type (Crude Oil, Gasoline, Diesel, LPG, Distillates, Aviation Fuel, Others)

6.2.5.     By Company (2020)

6.2.6.     By Region

6.3.  Product Market Map

7.    Asia-Pacific Oil Storage Market Outlook

7.1.  Market Size & Forecast          

7.1.1.     By Value & Volume

7.2.  Market Share & Forecast

7.2.1.     By Type

7.2.2.     By Reserve

7.2.3.     By Material

7.2.4.     By Fuel Type

7.2.5.     By Country

7.3.  Asia-Pacific: Country Analysis

7.3.1.     China Oil Storage Market Outlook

7.3.1.1.         Market Size & Forecast

7.3.1.1.1.             By Value & Volume

7.3.1.2.         Market Share & Forecast

7.3.1.2.1.             By Type

7.3.1.2.2.             By Reserve

7.3.1.2.3.             By Material

7.3.1.2.4.             By Fuel Type

7.3.2.     India Oil Storage Market Outlook

7.3.2.1.         Market Size & Forecast

7.3.2.1.1.             By Value & Volume

7.3.2.2.         Market Share & Forecast

7.3.2.2.1.             By Type

7.3.2.2.2.             By Reserve

7.3.2.2.3.             By Material

7.3.2.2.4.             By Fuel Type

7.3.3.     Australia Oil Storage Market Outlook

7.3.3.1.         Market Size & Forecast

7.3.3.1.1.             By Value & Volume

7.3.3.2.         Market Share & Forecast

7.3.3.2.1.             By Type

7.3.3.2.2.             By Reserve

7.3.3.2.3.             By Material

7.3.3.2.4.             By Fuel Type

7.3.4.     Japan Oil Storage Market Outlook

7.3.4.1.         Market Size & Forecast

7.3.4.1.1.             By Value & Volume

7.3.4.2.         Market Share & Forecast

7.3.4.2.1.             By Type

7.3.4.2.2.             By Reserve

7.3.4.2.3.             By Material

7.3.4.2.4.             By Fuel Type

7.3.5.     South Korea Oil Storage Market Outlook

7.3.5.1.         Market Size & Forecast

7.3.5.1.1.             By Value & Volume

7.3.5.2.         Market Share & Forecast

7.3.5.2.1.             By Type

7.3.5.2.2.             By Reserve

7.3.5.2.3.             By Material

7.3.5.2.4.             By Fuel Type

8.    Europe Oil Storage Market Outlook

8.1.  Market Size & Forecast          

8.1.1.     By Value & Volume

8.2.  Market Share & Forecast

8.2.1.     By Type

8.2.2.     By Reserve

8.2.3.     By Material

8.2.4.     By Fuel Type

8.2.5.     By Country

8.3.  Europe: Country Analysis

8.3.1.     France Oil Storage Market Outlook

8.3.1.1.         Market Size & Forecast

8.3.1.1.1.             By Value & Volume

8.3.1.2.         Market Share & Forecast

8.3.1.2.1.             By Type

8.3.1.2.2.             By Reserve

8.3.1.2.3.             By Material

8.3.1.2.4.             By Fuel Type

8.3.2.     Germany Oil Storage Market Outlook

8.3.2.1.         Market Size & Forecast

8.3.2.1.1.             By Value & Volume

8.3.2.2.         Market Share & Forecast

8.3.2.2.1.             By Type

8.3.2.2.2.             By Reserve

8.3.2.2.3.             By Material

8.3.2.2.4.             By Fuel Type

8.3.3.     United Kingdom Oil Storage Market Outlook

8.3.3.1.         Market Size & Forecast

8.3.3.1.1.             By Value & Volume

8.3.3.2.         Market Share & Forecast

8.3.3.2.1.             By Type

8.3.3.2.2.             By Reserve

8.3.3.2.3.             By Material

8.3.3.2.4.             By Fuel Type

8.3.4.     Italy Oil Storage Market Outlook

8.3.4.1.         Market Size & Forecast

8.3.4.1.1.             By Value & Volume

8.3.4.2.         Market Share & Forecast

8.3.4.2.1.             By Type

8.3.4.2.2.             By Reserve

8.3.4.2.3.             By Material

8.3.4.2.4.             By Fuel Type

8.3.5.     Spain Oil Storage Market Outlook

8.3.5.1.         Market Size & Forecast

8.3.5.1.1.             By Value & Volume

8.3.5.2.         Market Share & Forecast

8.3.5.2.1.             By Type

8.3.5.2.2.             By Reserve

8.3.5.2.3.             By Material

8.3.5.2.4.             By Fuel Type

9.    North America Oil Storage Market Outlook

9.1.  Market Size & Forecast          

9.1.1.     By Value & Volume

9.2.  Market Share & Forecast

9.2.1.     By Type

9.2.2.     By Reserve

9.2.3.     By Material

9.2.4.     By Fuel Type

9.2.5.     By Country

9.3.  North America: Country Analysis

9.3.1.     United States Oil Storage Market Outlook

9.3.1.1.         Market Size & Forecast

9.3.1.1.1.             By Value & Volume

9.3.1.2.         Market Share & Forecast

9.3.1.2.1.             By Type

9.3.1.2.2.             By Reserve

9.3.1.2.3.             By Material

9.3.1.2.4.             By Fuel Type

9.3.2.     Mexico Oil Storage Market Outlook

9.3.2.1.         Market Size & Forecast

9.3.2.1.1.             By Value & Volume

9.3.2.2.         Market Share & Forecast

9.3.2.2.1.             By Type

9.3.2.2.2.             By Reserve

9.3.2.2.3.             By Material

9.3.2.2.4.             By Fuel Type

9.3.3.     Canada Oil Storage Market Outlook

9.3.3.1.         Market Size & Forecast

9.3.3.1.1.             By Value & Volume

9.3.3.2.         Market Share & Forecast

9.3.3.2.1.             By Type

9.3.3.2.2.             By Reserve

9.3.3.2.3.             By Material

9.3.3.2.4.             By Fuel Type

10.  South America Oil Storage Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value & Volume

10.2.              Market Share & Forecast

10.2.1.  By Type

10.2.2.  By Reserve

10.2.3.  By Material

10.2.4.  By Fuel Type

10.2.5.  By Country

10.3.              South America: Country Analysis

10.3.1.  Brazil Oil Storage Market Outlook

10.3.1.1.      Market Size & Forecast

10.3.1.1.1.           By Value & Volume

10.3.1.2.      Market Share & Forecast

10.3.1.2.1.           By Type

10.3.1.2.2.           By Reserve

10.3.1.2.3.           By Material

10.3.1.2.4.           By Fuel Type

10.3.2.  Argentina Oil Storage Market Outlook

10.3.2.1.      Market Size & Forecast

10.3.2.1.1.           By Value & Volume

10.3.2.2.      Market Share & Forecast

10.3.2.2.1.           By Type

10.3.2.2.2.           By Reserve

10.3.2.2.3.           By Material

10.3.2.2.4.           By Fuel Type

10.3.3.  Colombia Oil Storage Market Outlook

10.3.3.1.      Market Size & Forecast

10.3.3.1.1.           By Value & Volume

10.3.3.2.      Market Share & Forecast

10.3.3.2.1.           By Type

10.3.3.2.2.           By Reserve

10.3.3.2.3.           By Material

10.3.3.2.4.           By Fuel Type

11.  Middle East and Africa Oil Storage Market Outlook

11.1.              Market Size & Forecast

11.1.1.  By Value & Volume

11.2.              Market Share & Forecast

11.2.1.  By Type

11.2.2.  By Reserve

11.2.3.  By Material

11.2.4.  By Fuel Type

11.2.5.  By Country

11.3.              MEA: Country Analysis

11.3.1.  South Africa Oil Storage Market Outlook

11.3.1.1.      Market Size & Forecast

11.3.1.1.1.           By Value & Volume

11.3.1.2.      Market Share & Forecast

11.3.1.2.1.           By Type

11.3.1.2.2.           By Reserve

11.3.1.2.3.           By Material

11.3.1.2.4.           By Fuel Type

11.3.2.  Saudi Arabia Oil Storage Market Outlook

11.3.2.1.      Market Size & Forecast

11.3.2.1.1.           By Value & Volume

11.3.2.2.      Market Share & Forecast

11.3.2.2.1.           By Type

11.3.2.2.2.           By Reserve

11.3.2.2.3.           By Material

11.3.2.2.4.           By Fuel Type

11.3.3.  UAE Oil Storage Market Outlook

11.3.3.1.      Market Size & Forecast

11.3.3.1.1.           By Value & Volume

11.3.3.2.      Market Share & Forecast

11.3.3.2.1.           By Type

11.3.3.2.2.           By Reserve

11.3.3.2.3.           By Material

11.3.3.2.4.           By Fuel Type

11.3.4.  Kuwait Oil Storage Market Outlook

11.3.4.1.      Market Size & Forecast

11.3.4.1.1.           By Value & Volume

11.3.4.2.      Market Share & Forecast

11.3.4.2.1.           By Type

11.3.4.2.2.           By Reserve

11.3.4.2.3.           By Material

11.3.4.2.4.           By Fuel Type

12.  Market Dynamics

12.1.              Drivers

12.2.              Challenges

13.  Market Trends & Developments

14.  Competitive Landscape

14.1.              ZCL Composites Inc.

14.2.              Belco Manufacturing Company Inc.

14.3.              Containment Solutions Inc.

14.4.              Synalloy Corp.

14.5.              L.F. Manufacturing Inc.

14.6.              Oiltanking GmbH

14.7.              Columbian Steel Tank Company

14.8.              Sunoco Logistics Partners Operations LP

14.9.              Vitol Tank Terminals International BV

14.10.            Royal Vopak NV

14.11.            Ziemann Holvrieka GmbH

14.12.            Synder Industries LLC

14.13.            Marquard & Bahls AG

14.14.            Royal Vopak N.V.

14.15.            Red Ewald, Inc.

14.16.            Poly Processing Company Inc.

14.17.            Denali Incorporated

14.18.            CST Industries Inc.

15.  Strategic Recommendations

16.  About Us & Disclaimer

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