Specialized Storage & Warehousing in the US - Industry Market Research Report

Specialized Storage & Warehousing in the US - Industry Market Research Report

Specialized Storage & Warehousing in the US

Operators in the Specialized Storage and Warehousing industry handle bulk storage for a range of goods, from petroleum and chemicals to lumber to whiskey, among others. Petroleum storage is the industry's largest segment and, therefore, industry revenue growth tends to follow United States petroleum inventories. Commercial inventories of crude oil stock have declined over recent years, as demand for petroleum storage has fallen as oil prices have skyrocketed, harming industry profit. Recent demand for bulk petroleum storage peaked in 2020 as the COVID-19 pandemic reduced activity across numerous sectors of the US economy, driving down oil prices. At the same time, demand for storage of various other industry-relevant commodities decreased along with their production, generally recovering as demand for petroleum storage has fallen since 2020. Industry revenue has therefore increased at an estimated CAGR of 0.9% to reach $9.4 billion in 2023, when revenue is expected to increase 4.2% as oil prices fall.

Companies in the Specialized Storage and Warehousing industry primarily operate specialized warehousing and storage facilities. This does not include general merchandise, refrigerated and farm product warehousing or storage.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.