WILMINGTON, DE / ACCESSWIRE / September 22, 2022 / Transparency Market Research Inc. - The global oil storage market is prognosticated to reach a value of US$ 24 Bn by the end of 2030, states a review report by Transparency Market Research (TMR). Furthermore, the global market study on oil storage notes that the market is estimated to develop at a CAGR of 4% during the forecast period of 2020 to 2030.
With the revolution in shale oil production in many developed nations such as the U.S., there has been a rise in the production of crude oil in the recent years. This factor is boosting the demand opportunities in the global oil storage market. Furthermore, players in the oil storage market are focusing on the expansion of oil storage facilities in order to cater to rising market demands.
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Due to rise in the global population as well as industrialization across many developing and developed nations, the demand for oil & gas products is being increasing globally. This factor is anticipated to help in the expansion of the oil storage market size during the forecast period, state analysts at TMR.
Companies in the oil storage market are focusing on the expansion of their businesses in North America by constructing new oil storage tanks in the region. This factor is likely to impact positively on the growth of the North America market during the forecast period.
Oil Storage Market: Key Findings
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Oil Storage Market: Growth Boosters
Oil Storage Market: Key Players
Some of the key players profiled in the report are:
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