According to TechSci Research report, “Global Oil & Gas Storage Services Market By Service, By Product Type, By End User, By Region, Competition, Forecast & Opportunities, 2025”, the global oil & gas storage services market is forecast to surpass $ 1.34 billion by 2025 due to increase in oil & gas consumption coupled with expanding oil and gas pipeline network, globally. The global crude oil consumption stood at 99.97 million barrels per day in 2018 and increased to 100.75 million barrels per day in 2019. In 2020, global crude consumption is expected to decline to 95.52 million barrels per day by 2020, due to the economic slowdown and stay-at-home order implemented by various countries.

The global oil & gas storage services market is categorized into storage services, throughput services and ancillary services, and the storage services segment is expected to hold the largest share until 2025 as it includes the fee paid to store crude oil or petroleum products in storage space in tanks and to compensate for handling up to a fixed amount of product volume. Nevertheless, the throughput and ancillary service are also expected to grow as these segments includes delivery and third party mixing and blending of the products. The oil & gas storage services market can be bifurcated in crude oil, gasoline, diesel, jet fuel, LPG, heavy fuel oil (residual), other distillates & others in terms of product type. The crude oil segment holds largest share in the market, accounting for around 48% in 2019.

Browse 123 market data Figures spread through 120 Pages and an in-depth TOC on"Global Oil & Gas Storage Services Market 2025"

https://www.techsciresearch.com/report/oil-and-gas-storage-services-market/4822.html

In terms of end users, the oil & gas storage services market is categorized into refinery, merchant traders and distributors. The refinery segment will be leading the market as major part of the storage services market is captured by refinery and majority of refined products are stored in storage tanks in refinery itself. Some of the major players operating in the global oil & gas storage service 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.

Download Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=4822

Customers can also request for 10% free customization on this report.

“Expanding oil and gas pipeline network across the globe for transferring crude oil & petroleum products is expected to positively influence the global oil & gas storage services market in the coming years. Moreover, growing global population and consumption rate of oil & gas are anticipated to fuel the market until 2025.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm. However, the global economic slowdown and COVID–19 outbreak poses a huge challenge that can hamper the growth of market over the next couple of years. Additionally, the rising adoption of electric vehicles is the major restraint for the global oil & gas storage services market.

“Global Oil & Gas Storage Services Market By Service, By Product Type, By End User, By Region, Competition, Forecast & Opportunities, 2025” has analyzed the potential of oil & gas storage services market across the globe, and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by the industry.

Download Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=4822

Related Reports:

Global oil gas accumulator market- https://www.techsciresearch.com/report/global-oil-gas-accumulator-market/2781.html

Global vapor recovery units market- https://www.techsciresearch.com/report/global-vapor-recovery-units-market/2672.html

Global well testing services market- https://www.techsciresearch.com/report/global-well-testing-services-market/2685.html

Global wireline services market- https://www.techsciresearch.com/report/global-wireline-services-market/2686.html

About TechSci Research:

TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research’s core values are value, integrity and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci’s client leads rather than follow market trends. Not bound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and an increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.

Contact

Mr. Ken Mathews

708 Third Avenue,

Manhattan, NY,

New York – 10017

Tel: +1-646-360-1656

Email: sales@techsciresearch.com

Web: https://www.techsciresearch.com

Oil & Gas Storage Services Market 2018-2025: Trends and Forecasts