Market Insight : Oil and Gas Storage Service Market Globally Grow at a CAGR of 2.2% by 2020

Storage tank services are responsible for over 70% of the revenue in the market and include containers that hold liquids, compressed gases, or mediums used for short- or long-term storage.

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Typically, these tanks operate under no or very little pressure and can be spherical or cylindrical in shape. Based upon location and requirement, storage tanks come in varieties such as crude oil tankages, product and intermediate storage tankages, dispatch area tankages, and minitanks near production units of a refinery.

Technavios analysts forecast the global oil and gas storage service market to grow at a CAGR of 2.2% during the period 2016-2020.

Covered in this report
The report covers the present scenario and the growth prospects of the global oil and gas storage service market for 2016-2020. To calculate the market size, the report presents the vendor landscape and a corresponding detailed profiling of the key market participants across the value chain of the market.

The market is divided into the following segments based on geography:
Americas
APAC
EMEA

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Technavio's report, Global Oil and Gas Storage Service Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
Royal Vopak
Oiltanking
Magellan Midstream Partners
Buckeye Partners
Vitol

Other prominent vendors
Blueknight Energy Partners
CIM-CCMP Group
CLH Group
Dailan Port Company
Horizon Terminals Limited
International-Matex Tank Terminals (IMTT)
Kinder Morgan
NuStar Energy
Odfjell

Market driver
Geographical diversification of crude oil markets.
For a full, detailed list, view our report

Market challenge
High operational costs and strategic locations for oil terminals.
For a full, detailed list, view our report

Market trend
Shift toward independent oil and gas storage service companies.
For a full, detailed list, view our report

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Key questions answered in this report
What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?

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