Call +1(917) 993 7467 or connect with one of our experts to get full access to the most comprehensive and verified construction projects happening in your area. Close Section
Global Oil Storage Market Report - Market Analysis, Size, Share, Growth, Outlook - Industry Trends and Forecast to 2028

Global Oil Storage Market Report - Market Analysis, Size, Share, Growth, Outlook - Industry Trends and Forecast to 2028

Market Research Reports | Q1 2024 | Report ID: BR01392

About the Report

Increased backwardation for both WTI and Brent, tight physical supply of oil, resilient demand despite Omicron concerns, rallying physical and future markets, growing geo-political tensions and the inability of some OPEC+ countries to increase production are the major drivers for the increasing oil price. 

2020 witnessed a deep dip in crude oil prices following the COVID 19 global restrictions, work from home business models, limited travel and tourism. Following this, oil storage saw a steep demand for their services. However, as vaccinations rolled out, and restrictions were eased globally, demand for crude oil began surging but there is a strain on supply(owing to numerous reasons- geopolitical tensions, low investments since years, OPEC's output decisions, natural catastrophes, problems related to workforce and the like). 

Almost all industry players(oil storage terminals) engage in the storage of various products ranging from natural gas to crude products to biofuels. This way, companies ensure diversification of activities and remain competitive. With the common understanding that fossil fuels have a long runway, and an energy growth forecast of 20% by 2040 oil storage remains a key service in the midstream sector. 

The global oil storage market is classified into various market segments based on

1. The material of the storage tank--Steel storage tanks,Carbon Steel Storage tanks, Fiberglass reinforced Plastic storage tanks and Others.

2. The type of storage tank-- Open top tank, Fixed roof tank, Floating roof tank, and Others.

As of March 2021, the USA has reported 66,12,55,000 barrels of shell storage capacity for crude oil alone. When other residual fuel oils, propane, natural gas and the like are also considered, the USA has a recorded shell storage capacity of 1,92,33,53,000 barrels. According to EIA(Energy Information Administration), as of 14th Jan 2022, 413.8 million barrels of crude is stocked in the USA. 

The IEA(International Energy Agency) forecasts greater oil production in 2022 and 2023 to profit from the current demand and rising oil prices. Many countries have fossil reserves and there is a sense of urgency as these nations race to extract oil and gas before the world transitions to renewables. In the midst of such a situation, global oil inventories could rise by 0.5 million barrels per day in 2022 to 0.6 million barrels per day in 2023. However, any future novel variant could slow the recovery in global oil consumption. So, watching out for GDPs of non-OECD countries whose economic growth translates to high oil consumption is crucial. 


The new report from Blackridge Research on Global Oil Storage Market comprehensively analyses the Oil Storage Market and provides deep insight into the current and future state of the industry.

The study examines the drivers, restraints, and regional trends influencing Global Oil Storage Market demand and growth.

The report also addresses present and future market opportunities, market trends, developments, and the impact of Covid-19 on the Oil Storage Market, important commercial developments, trends, regions, and segments poised for fastest growth, competitive landscape, and market share of key players.

Further, the report will also provide Oil Storage Market size, demand forecast, and growth rates.

What we cover in the report?

Oil Storage Market Drivers & Restraints

The study covers all the major underlying forces that help the market develop and grow and the factors that constrain the growth.

The report includes a meticulous analysis of each factor, explaining the relevant, qualitative information with supporting data.

Each factor's respective impact in the near, medium, and long term will be covered using Harvey balls for visual communication of qualitative information and functions as a guide for you to analyze the degree of impact.

Oil Storage Market Analysis

This report discusses the overview of the market, latest updates, important commercial developments and structural trends, and government policies and regulations.

This section provides an assessment of COVID-19 impact on Oil Storage Market demand.

Oil Storage Market Size and Demand Forecast

The report provides Global Oil Storage Market size and demand forecast until 2027, including year-on-year (YoY) growth rates and CAGR.

Oil Storage Market Industry Analysis

The report examines the critical elements of Oil Storage industry supply chain, its structure, and participants

Using Porter's five forces framework, the report covers the assessment of the Oil Storage industry's state of competition and profitability.

Oil Storage Market Segmentation & Forecast

The report dissects the Global Oil Storage Market into various segments. A detailed summary of the current scenario, recent developments, and market outlook will be provided for each segment.

Further, market size and demand forecasts will be presented along with various drivers and barriers for individual market segments.

Effective market segmentation enables you to identify emerging trends and opportunities for long-term growth. Contact us for a "bespoke" market segmentation to better align the research report with your requirements.

Regional Market Analysis

The report covers detailed profiles of major countries across the world. Each country's analysis covers the current market scenario, market drivers, government policies & regulations, and market outlook.

In addition, market size, demand forecast, and growth rates will be provided for all regions.

Following are the notable countries covered under each region.

North America - United States, Canada, Mexico, and Rest of North America

Europe - Germany, France, United Kingdom (UK), Russia, and Rest of Europe

Asia-Pacific - China, India, Japan, South Korea, Australia, Rest of APAC

Rest of the world - Saudi Arabia, Brazil, Nigeria, South Africa, and other countries

Key Company Profiles

This report presents detailed profiles of Key companies in the Oil Storage industry. In general, each company profile includes - overview of the company, relevant products and services, a financial overview, and recent developments.

Competitive Landscape

The report provides a comprehensive list of notable companies in the market, including mergers and acquisitions (M&As), joint ventures (JVs), partnerships, collaborations, and other business agreements.

The study also discusses the strategies adopted by leading players in the industry.

Executive Summary

Executive Summary will be jam-packed with charts, infographics, and forecasts. This chapter summarizes the findings of the report crisply and clearly.

The report begins with an Executive Summary chapter and ends with Conclusions and Recommendations.

Get a free sample copy of Global Oil Storage Market report by clicking the "Download a Free Sample Now!" button at the top of the page.

  Table of Contents

1. Executive Summary

2. Research Scope and Methodology

3. Market Analysis

  • 3.1 Introduction
  • 3.2 Market Dynamics
    • 3.2.1. Drivers
    • 3.2.2 Restraints
  • 3.3 Market Trends & Developments
  • 3.4 Market Opportunities
  • 3.5 Market Size and Forecast

4. Industry Analysis

  • 4.1 Supply Chain Analysis
  • 4.2 Porter’s Five Forces Analysis

5. Market Segmentation & Forecast

  • 5.1 By Material
    • 5.1.1 Steel Storage tanks
    • 5.1.2 Carbon steel Storage tanks
    • 5.1.3 Fiberglass reinforced plastic Storage tanks
    • 5.1.4 Others
  • 5.2 By tank type
  •         5.2.1 Open Top tank
  •         5.2.2 Fixed Roof tank
  •         5.2.3 Floating Roof tank
  •         5.2.4 Others

6. Regional Market Analysis

  • 6.1 North America
  • 6.2 Europe
  • 6.3 Asia-Pacific
  • 6.4 Middle East and Africa

7. Key Company Profiles

  • 7.1 Royal Vopak N.V.
  • 7.2 Compania Logistica de Hidrocarburos CLH SA
  • 7.3 Oiltanking Gmbh
  • 7.4 Kinder Morgan, Inc.
  • 7.5 Magellan Midstream Partners, L.P.
  • 7.6 Buckeye Partners L.P.
  • 7.7 Vitol Tank Terminals International BV (VTTI)
  • 7.8 Gibson Energy Inc
  • 7.9 China Petroleum Pipeline Engineering Co., Ltd.
  • 7.10 Equinor ASA
  • 7.11 Vesta Terminals BV

8. Competitive Landscape

  • 8.1 List of Notable Players in the Market
  • 8.2 M&A, JV, and Agreements
  • 8.3 Market Share Analysis
  • 8.4 Strategies of Key Players

9. Conclusions and Recommendations

List of Tables & Figures


Additional Notes


  This report helps to:-

  • Gain a deeper understanding of the impact of COVID 19, and oil & gas prices crash on the global oil storage market
  • Equip yourself with rigorous analysis and forward-looking insight into the global oil storage market across various regions
  • Gain an understanding of uncertainty and discover how the most influential growth drivers and restraints in the regions will impact market development
  • Assess market data and forecasts to understand how the demand evolve over the next 5 years
  • Gain a comprehensive view of the emerging market trends and developments to assess market opportunities
  • Be better informed of your competition by gaining access to detailed information and analysis of key industry players
  • Keep on top of M&A developments, JV’s and other agreements to assess the evolving competitive landscape and enhance your competitive position

  What's included

Report - Global Oil Storage Market Outlook to 2028.pdf
Market Data Sheet - Global Oil Storage Market Outlook to 2028.xls

  Why buy this report?

  • Gain a deeper understanding of the impact of Covid-19 on the <Oil Storage Market>.
  • Equip yourself with rigorous analysis and forward-looking insights into the <Oil Storage Market> across multiple regions.
  • Gain an understanding of uncertainty and discover how the most influential growth drivers and restraints in the regions will impact market development.
  • Assess market size data and forecasts to understand how the demand across various segments evolves over the next few years.
  • Gain a comprehensive view of the emerging market trends and developments to assess market opportunities.
  • Be better informed of your competition by gaining access to detailed information and analysis of key industry players.
  • Keep on top of M&A developments, JVs, and other agreements to assess the evolving competitive landscape and enhance your competitive position

  Want to know about Current Offers?

Offer 1 - Save with Multiple Purchases - Buy two reports or more and instantly save up to 15% off.

Offer 2 - Introductory offer for new customers - Flat 10% off on your first purchase.

To learn more about the report and our other current offers, contact us here or You can send an email to

  Analyst access from Blackridge Research

All report purchases come with up to 60 minutes of phone time with an expert analyst who will assist you in connecting the report's key findings to the business issues you're dealing with. This must be used within three months of the report's purchase.

The above telephone time is excluding the post-purchase analyst support for any queries that you may have up to one year.

  Free Report Customization

We offer free customization of value USD 1500 for every report that you purchase. Get in touch with us to know more about free customization and our exciting custom research services.

  Further information

If you have any questions about this market research study, please do not hesitate to contact our research team using the top Contact us button, or you may also reach out at or call one of our Business Development managers:

AMERICAS (USA): +1 (917) 993 7467

ASIA (India): +91 8500 460 460

  Common Questions

You can purchase the report directly by selecting the licence type above and paying with a credit or debit card. Please contact for other payment options.

We can provide quarterly and half yearly report updates. Please contact for more information.

Single User License
The Single User License will provide access to only one user.

Team User License
The Team License will provide access only up to 7 users. This is great for a team.

Corporate License
This Premium package is ideal for large companies. By having Corporate license, any employee of your organization or its subsidiaries can access the report. You will also receive free industry update after six months and also a white label powerpoint presentation.

Yes, if you'd like to select certain sections of the report, please contact

The report publication process involves several steps: Secondary Research, Discussion Guide Preparation, Primary Research (interviews, surveys, among others), Data Triangulation, Market Engineering, Data Validation, and Report Writing. One of the research specialists will explain the research process in detail. For more details about the report methodology, contact us at

If for any reason you're not satisfied with the report, just email us at We will make sure it's resolved!

We're here to help from day one, with 24/6 outstanding support. For report purchases, we will provide post-purchase analyst support for any queries that you may have related to report up to one year.

Got a Question?

Sujith will help you find what you are looking for.

Call: +1 (917) 993 7467
+91 8500 460 460


Haven’t found what you’re looking for?

More than 70% of our clients seek customized reports. Reach us out to get yours today!

Please Enter Business Email Address

By clicking "Submit" you are indicating that you have read and agree to be bound by the Blackridge Terms of Service and Privacy Policy .