Us Oil and Gas Storage Market Size By Applications, By Type, By End-User, By Deployment & By Technology 2032
Oil and Gas Storage Market was valued at USD 19.4 Billion in 2022 and is projected to reach USD 28.1 Billion by 2030, growing at a CAGR of 5.0% from 2024 to 2030.
The U.S. oil and gas storage market is a cornerstone of the nation's energy infrastructure, ensuring a stable supply of hydrocarbons for various sectors. As of 2019, the market was valued at approximately $617.1 million and is projected to reach $782.6 million by 2026, underscoring its critical role in the energy landscape. This growth is driven by the increasing demand for strategic petroleum reserves and the expansion of export activities. citeturn0search0
Strategic petroleum reserves are essential for national security, providing a buffer against supply disruptions. The U.S. government's investment in these reserves has bolstered the storage capacity, enhancing energy security. Additionally, the rise in domestic oil production, particularly from shale formations, has necessitated the development of advanced storage solutions to accommodate the increased output.
Technological advancements have led to the adoption of floating roof tanks, which minimize evaporation losses and reduce emissions. These tanks are becoming increasingly prevalent due to their environmental benefits and efficiency. The market is also witnessing a shift towards underground storage caverns, offering enhanced safety and capacity.
Geographically, the Gulf Coast region remains a hub for oil and gas storage, benefiting from its proximity to major refineries and export terminals. The expansion of export activities, especially to Asia, has further increased the demand for storage facilities in this area.
In summary, the U.S. oil and gas storage market is evolving to meet the challenges of a dynamic energy environment. The integration of advanced technologies, strategic infrastructure investments, and a focus on environmental sustainability are key factors shaping its future trajectory.
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Amec Foster Wheeler
Royal Vopak
TechnipFMC
Vitol
Magellan Midstream Partners
CIM-CCMP
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Oil and Gas Storage Market
Above Ground Storage Tanks (AST)
Underground Storage Tanks (UST)
Floating Roof Tanks
Fixed Roof Tanks
Salt Caverns
LNG Storage Tanks
Oil and Gas Exploration and Production
Oil Refining
Petrochemical Industry
Power Generation
Shipping and Logistics
Retail (Fuel Stations)
Crude Oil
Natural Gas
Refined Products (Gasoline, Diesel, Jet Fuel)
Liquefied Natural Gas (LNG)
Petrochemical Feedstocks
Conventional Storage Systems
Advanced Technologies (e.g., Monitoring Systems, Automation)
Enhanced Oil Recovery (EOR) Techniques
Safety and Control Mechanisms (e.g., Leak Detection Systems)
Small Scale (Less than 100,000 barrels)
Medium Scale (100,000 to 500,000 barrels)
Large Scale (More than 500,000 barrels)
Customizable Capacity Solutions
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Oil and Gas Storage Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Oil and Gas Storage Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Oil and Gas Storage Market, By Type
6. Global Oil and Gas Storage Market, By Application
7. Global Oil and Gas Storage Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Oil and Gas Storage Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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