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Oil Storage Market at Healthy CAGR of 4.37% for the forecast period of 2016 to 2024.

Transparency Market Research has published a new report that provides detailed information about the overall working dynamics of the globalu00a0oil storage market. According to the research report, the global oil storage market is expected to exhibit a healthy CAGR of 4.37% for the forecast period of 2016 to 2024. The volume sale of the market was at around 1,337 million cubic meters in 2014. With the given rate of growth, the global oil storage market is expected to achieve the volume sale of 2,027 million cubic meters by the fall of 2024.

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Oil Storage Market at Healthy CAGR of 4.37% for the forecast period of 2016 to 2024.

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  1. Oil Storage Market at Healthy CAGR of 4.37% for the forecast period of 2016 to 2024. Transparency Market Research has published a new report that provides detailed information about the overall working dynamics of the global oil storage market. According to the research report, the global oil storage market is expected to exhibit a healthy CAGR of 4.37% for the forecast period of 2016 to 2024. The volume sale of the market was at around 1,337 million cubic meters in 2014. With the given rate of growth, the global oil storage market is expected to achieve the volume sale of 2,027 million cubic meters by the fall of 2024. To know more, Request Sample@ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id =2421 Competitive Landscape to Remain Consolidated in Near Future The competitive landscape of the global oil storage market is highly consolidated with only five companies occupying the majority of the overall market share. These five companies are Royal Vopak NV, Kinder Morgan Inc., Oiltanking GmbH, Buckeye Partners LP, and NuStar Energy LP. These companies cumulative accounted for around 67% of the overall market share in the year 2014. The research report on the global oil storage market expects the competition in the global market to only intensify over the course of the mentioned period of forecast. One of the prime reasons behind this intensifying competition is the growing amount of investments put in by some of these leading brands in the market. It is expected that the entry barriers for new players in the oil storage market to remain high. Thus the threat of the same is expected to be a moderate one. Moreover, in order to bolster their existing hold on the global market, these leading companies are adopting the approach of mergers, acquisitions, joint ventures, and strategic partnerships. Such moves allow these companies to expand and improve their current infrastructure for crude oil storage and also their terminal networks. It also helps them to raise more funds for the optimization of their storage facilities and develop new pipelines. For instance, in February 2015, a North America based energy infrastructure company, Kinder Morgan, announced that the company has been successful in taking over Hiland Partners. The deal was worth around US$3 bn. This move helped Kinder Morgan to upgrade their terminal and storage infrastructure across the region of North America. For More Information,Request Brochure@ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id =2421

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