Global Oil Storage Fee Rental Market By Rental Rates (Monthly, Weekly, Daily), By Capacity (Above 9000 GAL, 6000 GAL to 8999 GAL, 3000 GAL-5999 GAL, 300 GAL-2999 GAL), By Tank Location (Above Ground Outdoor Storage Tanks, Above Ground Indoor Storage Tanks, Underground Storage Tanks), By Fuel Type (Crude oil, Gasoline, Diesel, Aviation fuel, Liquefied Petroleum Gas (LPG), Naphtha, Kerosene): Global Opportunity Analysis and Industry Forecast, 2023-2032
The global global oil storage fee rental market was valued at $9.3 billion in 2022, and is projected to reach $13.7 billion by 2032, growing at a CAGR of 4.1% from 2023 to 2032.
Oil storage tanks are essential infrastructure in the oil industry, providing storage capacity, supply management, and logistical support. In addition, oil storage tanks enable the industry to meet fluctuating demand, ensure operational efficiency, and address emergency situations effectively.
Oil storage tanks play a crucial role in inventory management, especially for seasonal variations in demand. Geopolitical tensions, conflicts, or natural disasters may disrupt oil supply chains and impact storage requirements. During such events, companies may opt to secure additional storage capacity to mitigate supply disruptions or potential price volatility. This increased demand for storage facilities may lead to higher rental fees.
Moreover, Governments and oil companies maintain strategic oil reserves for emergency situations. These reserves are stored in oil storage tanks and serve as a buffer during supply disruptions caused by natural disasters, geopolitical tensions, or unexpected events. Emergency reserves ensure that essential energy needs may be met during times of crisis or unforeseen circumstances. Moreover, oil storage tanks are an integral part of refinery operations. They provide storage capacity for crude oil feedstock, intermediate products, and finished petroleum products. Tanks allow for the continuous flow of oil throughout the refining process, enabling refineries to operate efficiently and optimize their production schedules.
The oil storage market comprises North America, Europe, Asia-Pacific and LAMEA. In addition, North America and Asia-Pacific are one of the largest markets for crude trading which tend to increase the demand for oil storage tanks in these countries and may act as the major driving factor for the market as oil storage tanks are utilized by traders and investors for speculative purposes. They may buy and store oil when prices are low and sell when prices rise, taking advantage of market conditions. Storage tanks provide physical inventory that may be leveraged to capitalize on price fluctuations and market opportunities.
The global oil storage fee rental market is segmented on the basis of rental rates, capacity, tank location, fuel type and country. On the basis of rental rates, the market is categorized into daily, weekly, monthly. On the basis of capacity, it is divided into 300 Gal. To 2,999-Gal., 3,000-Gal. To 5,999-Gal., 6,000-Gal. To 8,999-Gal. and Above 9,000-Gal. On the basis of tank location, it is classified into above ground indoor storage tanks, above ground outdoor storage tank and underground storage tanks. On the basis of fuel type, it is classified into crude oil, gasoline, aviation fuel, naphtha, diesel, kerosene, and liquefied petroleum gas. On the basis of region, it is analysed across North America, Europe, Asia-Pacific and LAMEA.
The global oil storage fee rental market analysis covers in-depth information about the major industry participants. The key players operating and profiled in the report include PSA International, Royal Vopak, Singapore Petroleum Company Limited., HORIZON TERMINALS, Jurong Port Universal Terminal Pte. Ltd., Feoso Group, VTTI., Oiltanking GmbH, Sinopec Kantons Holdings Limited, PT Pertamina (Persero) and Dialog Group Berhad.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global oil storage fee rental market analysis from 2022 to 2032 to identify the prevailing global oil storage fee rental market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the global oil storage fee rental market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global global oil storage fee rental market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy Rental RatesMonthly
Weekly
Daily
By CapacityAbove 9000 GAL
6000 GAL to 8999 GAL
3000 GAL-5999 GAL
300 GAL-2999 GAL
By Tank LocationAbove Ground Outdoor Storage Tanks
Above Ground Indoor Storage Tanks
Underground Storage Tanks
By Fuel TypeCrude oil
Gasoline
Diesel
Aviation fuel
Liquefied Petroleum Gas (LPG)
Naphtha
Kerosene
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Netherlands
Germany
Spain
Italy
Belgium
UK
Rest of Europe
Asia-Pacific
China
Singapore
Indonesia
Malaysia
Japan
India
Rest of Asia-Pacific
LAMEA
Saudi Arabia
UAE
Brazil
South Africa
Rest of LAMEA
Key Market Players
Dialog Group Berhad
Feoso Group.
HORIZON TERMINALS
Jurong Port Universal Terminal Pte. Ltd
Oiltanking GmbH
PSA International
PT Pertamina(Persero)
Royal Vopak
Singapore Petroleum Company Limited.
Sinopec Kantons Holdings Limited
VTTI.
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