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Global Oil and Gas Storage Service Market 2016-2020

Global Oil and Gas Storage Service Market 2016-2020

About Oil and Gas Storage Service

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. 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.

Technavio’s 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
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
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?


Press Release

Technavio Announces the Publication of its Research Report – Global Oil and Gas Storage Service Market 2016-2020

Technavio recognizes the following companies as the key players in the global oil and gas storage service market: Royal Vopak, Oiltanking, Magellan Midstream Partners, Buckeye Partners, and Vitol.

Other prominent vendors in the market are: Blueknight Energy Partners, CIM-CCMP Group, CLH Group, Dailan Port Company, Horizon Terminals Limited, International-Matex Tank Terminals (IMTT), Kinder Morgan, NuStar Energy, and Odfjell.

Commenting on the report, an analyst from Technavio’s team said: “One of latest trends in the market is rise in deep water and ultra-deep water operations. With the conventional avenues of oil and gas reserves already seeing a certain end, the dependence of the global economy on fossil fuels is pushing the upstream oil and gas sector to the geographical ends of the globe. The most significant of these, which cements the aforementioned trend, is the increased reliance on deep water and ultra-deep water drilling and production operations. The frequency of these operations, marked by significantly hostile operating conditions, is only expected to increase manifold in the coming decade. This puts the significant question on the technological capabilities of the oil and gas storage industry to adapt and successfully operate in these conditions.”

According to the report, one of the primary drivers in the market is geographical diversification of crude oil markets. One of the most obvious outcomes of the present era of fossil fuel is that the era of easy oil is coming to an end. This has resulted not only in inflated costs of hydrocarbon acquisition but also displaced the operations geographically. Much of the past century was witness to drilling operations being carried out at established locations in the world. The major hydrocarbon rich regions around the globe were identified in the early 20th century, and most operations were based out of these areas for the next century or so. However, things have started to change significantly now, and exploration and production (E&P) companies have started to look at unconventional avenues for exploration.

Further, the report states that one major challenge in the market is high operational cost and strategic locations for oil terminals. With an increase in demand for value-added services (VAS) and specialized professional supply chain solutions in the oil and gas storage service market, the oil and gas industry is becoming highly competitive in terms of pricing of services. Vendors in the market are under sustained pressure from customers to keep prices low. While these providers have made profits from fixed-term long contracts with customers, volatility of fuel prices has decreased profitability. Customers are demanding lower rates while renewing contracts. Independent oil storage company's customers are demanding additional services at the same price; thus, companies are facing pressure in pricing their services.



Companies Mentioned

Royal Vopak, Oiltanking, Magellan Midstream Partners, Buckeye Partners, Vitol, Blueknight Energy Partners, CIM-CCMP Group, CLH Group, Dailan Port Company, Horizon Terminals Limited, International-Matex Tank Terminals (IMTT), Kinder Morgan, NuStar Energy, Odfjell.

  • Executive summary
    • Highlights
  • Scope of the report
    • Market overview
      • Table Countries covered in different geographies
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
      • Table World primary energy demand forecast (in mboe/d)
      • Table Expected percentage share of source of energy 2020
  • Market landscape
    • Market size and forecast
      • Table Examples of various company types
      • Table Historic and forecasted crude oil price 2012-2020 ($ per barrel)
      • Table Global oil and gas storage service market ($ billions)
      • Table Expected occupancy rate of oil storage companies 2016-2020
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by service type
    • Global oil and gas storage services market by service type
      • Table Growth rate of global oil and gas storage service market by service type 2016-2020
      • Table Percentage share by service type in global oil and gas storage service market 2016-2020
    • Storage services
      • Table Global oil storage service market and growth rate 2015-2020 ($ billions)
    • Ancillary services
      • Table Global ancillary service market and growth rate 2015-2020 ($ millions)
    • Other services
      • Table Global other services market and growth rate 2015-2020 ($ billions)
  • Geographical segmentation
    • Global oil and gas storage service market by geography
      • Table Growth rate of global oil and gas storage service market by geography 2016-2020
      • Table Percentage share by region in global oil and gas storage service market 2016-2020
    • Oil and gas storage market in Americas
      • Table Oil and gas storage service market in Americas 2015-2020 ($ billions)
      • Table Opportunities and challenges in Americas for oil and gas storage service market
    • Oil and gas storage market in EMEA
      • Table Oil and gas storage service market in EMEA 2015-2020 ($ billions)
      • Table Major opportunities and challenges in EMEA for oil and gas storage service market
      • Table GDP growth rate of Europe's top 10 growing economies 2015 (annual growth rate)
    • Oil and gas storage market in APAC
      • Table Oil and gas storage service market in APAC 2015-2020 ($ billions)
      • Table Opportunities and challenges in APAC for oil and gas storage service market
      • Table GDP annual growth rate of leading countries in APAC
  • Market drivers
    • Geographical diversification of crude oil markets
      • Table Shifting base of hydrocarbon exploration
    • Delay in oil and gas pipeline projects
    • High demand for oil and oil products
      • Table Oil demand from various sectors (in mboe/d)
      • Table Number of passenger cars 2014, 2015, and 2020 (millions of units)
      • Table Number of commercial vehicles 2014, 2015, and 2020 (millions of units)
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
    • Investment justification in era of uncertain oil prices
      • Table Global crude oil price 2007-2016 ($/bbl)
      • Table Comparison of profits at different crude prices (in $/barrel of crude oil)
    • High injury rates and vulnerability to natural phenomena
    • High operational cost and strategic locations for oil terminals
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
    • Increased encounters of hostile operational conditions
    • Shift toward independent oil and gas storage service companies
    • Demand and supply moving from west to east
      • Table Major factor responsible for increasing demand for oil and gas in APAC
      • Table GDP growth rate of different country groups 2005-2015 (annual %)
      • Table Oil demand growth by region 2015-2035
  • Vendor landscape
    • Competitive scenario
    • Royal Vopak
      • Table Royal Vopak: Storage capacity including joint ventures 2009-2015 (million cbm)
      • Table Storage capacity per division 2015 (% share)
      • Table Percentage share of EBITDA per division 2015
    • Oiltanking
      • Table Total storage capacity (million cbm)
    • Magellan Midstream Partners
    • Buckeye Partners
    • Vitol Group
      • Table Crude oil and oil products on a deliver basis (million metric tons)
      • Table Products breakup (% share of revenue)
    • Other prominent vendors
  • Appendix
    • List of abbreviations
  • Explore Technavio

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