Dublin, July 08, 2020 (GLOBE NEWSWIRE) -- The "Global Oil & Gas Storage Services Market, By Service, By Product Type, By End User, By Region, Competition, Forecast & Opportunities, 2025" report has been added to ResearchAndMarkets.com's offering.
The Global Oil & Gas Storage Services Market was valued at $ 1.09 billion in 2019 and is projected to reach $ 1.34 billion by 2025. Growth in the market can be attributed to the increasing demand for oil & gas, growing global exploration & production, and expanding oil & gas pipeline network. Huge price fluctuations in crude oil prices in the recent years has increased the requirement for oil & gas storage services across the globe.
In terms of Service segments, the global oil & gas storage market is categorized into Storage, Throughput and Ancillary services. The Storage service segment is the leading market segment and includes fee paid for reserving the storage space in tanks and to compensate for handling up to a fixed amount of product volume. The Throughput service includes the fee paid to non-storage customers to receive & deliver products via pipelines, barge, trucks, tankers, etc. The Ancillary service segment includes fee paid for mixing chemical additives, heating & blending by a third party.
In terms of Product type, the Global Oil & Gas Storage Services Market is categorized into Crude Oil, Gasoline, Diesel, Jet Fuel, LPG, Heavy Fuel Oil (Residual), and Others Distillates. The crude oil segment holds the largest market share and is projected to continue its dominance during the forecast period. In terms of End-User, the Global Oil & Gas Storage Services Market is categorized into Refinery, Merchant Traders and Distributors. The refinery segment leads the market as major part of the storage services is captured by refinery & majority of refined products that are stored in storage tanks in refinery itself.
North America is expected to continue its dominance in the Global Oil & Gas Storage Services Market through 2025, followed by Asia Pacific. However, the global economic slowdown, spread of COVID-19 pandemic and rising adoption of electric vehicles are the major threats for the Global Oil & Gas Storage Services Market.
Objective of the Study:
- To study the Global Oil & Gas Storage Services Market scenario, which covers Storage Services, Throughput Services, Ancillary Services.
- To analyze and forecast the market size of the Global Oil & Gas Storage Services Market.
- To classify and forecast the Global Oil & Gas Storage Services Market on the basis of services, product, end-users, regions & company.
- To identify drivers and challenges for the Global Oil & Gas Storage Services Market.
- To identify market trends & developments for the Global Oil & Gas Storage Services Market.
- To identify & analyze the profile of leading players operating in the Global Oil & Gas Storage Services Market.
Some of the major players operating in the Global Oil & Gas Storage Services Market are Buckeye Partners L.P., Royal Vopak, Vitol, Magellan Midstream Partners L.P., Oiltanking GmbH, Kinder Morgan Inc., Nustar Energy L.P, International Matex Tank Terminal, Clean Harbors Inc., Odfjell SE, among others.
In order to perform the study, the author conducted primary as well as exhaustive secondary research. Initially, they prepared an exhaustive list of global oil & gas storage service companies. Subsequently, the author conducted primary research surveys, which included primary calls, e-mail responses, etc., with the identified companies. While interviewing, the respondents were asked about their major competitors. Through this technique, the author was able to include companies which could not be identified due to the limitations of secondary research.
The author calculated the market size for the Global Oil & Gas Storage Services Market by using a bottom-up and top-down approach, wherein the oil & gas storage service companies' revenues for different services (storage service, throughput service, ancillary service) were recorded as well as forecast for the future years. The author sourced these values from the industry experts and company representatives, and externally validated by analyzing historical data of respective oil & gas storage service companies to arrive at the overall market size. Multiple secondary sources such as directories, company websites, company annual reports, white papers, investor presentations and financial reports were also analyzed.
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Impact of COVID-19 on Oil & Gas Storage Services Market
4. Executive Summary
5. Voice of Customer
6. Global Oil & Gas Storage Services Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Service (Storage Service, Throughput, Ancillary Service)
6.2.2. By Product Type (Crude Oil, Gasoline, Diesel, Jet Fuel, LPG, Heavy Fuel Oil
(Residual), Other Distillates, Others)
6.2.3. By End User (Refinery, Merchant Traders, Distributors)
6.2.4. By Region (North America, Asia Pacific, Europe, Middle East & Africa & South
America)
6.2.5. By Company (2019)
6.3. Product Market Map
7. North America Oil & Gas Storage Services Market Outlook
7.1. Market Size & Forecast
7.2. Market Share & Forecast
7.3. North America: Country Outlook
8. Asia-Pacific Oil & Gas Storage Services Market Outlook
8.1. Market Size & Forecast
8.2. Market Share & Forecast
8.3. Asia-Pacific: Country Outlook
9. Europe Oil & Gas Storage Services Market Outlook
9.1. Market Size & Forecast
9.2. Market Share & Forecast
9.3. Europe: Country Outlook
10. MEA Oil & Gas Storage Services Market Outlook
10.1. Market Size & Forecast
10.2. Market Share & Forecast
10.3. Middle East & Africa: Country Outlook
11. South America Oil & Gas Storage Services Market Outlook
11.1. Market Size & Forecast
11.2. Market Share & Forecast
11.3. South America: Country Outlook
12. Market Dynamics
12.1. Drivers/Opportunities
12.2. Challenges/Pitfalls
13. Market Trends & Developments
14. Competitive Landscape
14.1. Buckeye Partners, L.P.
14.2. Magellan Midstream Partners, L.P.
14.3. Oiltanking GmbH
14.4. Royal Vopak
14.5. Vitol
14.6. Kinder Morgan, Inc.
14.7. NuStar Energy L.P
14.8. Odfjell SE
14.9. International-Matex Tank Terminals (IMTT)
14.10. Clean Harbors, Inc
15. Strategic Recommendations
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