According to the Graphical Research new growth forecast report titled “Middle East Oil Storage Market Size By Reserve, End Use, Product, Industry Analysis Report, Regional Outlook, Competitive Market Share & Forecast, 2020 – 2026”, Estimated to Flourish by 2026. Middle East oil storage market will witness substantial growth on account of rising energy requirement coupled with increasing investments toward improving emergency supply stocks. In addition, growing crude oil production across UAE, Saudi Arabia, Qatar and Iraq will further enhance the business landscape in the forthcoming years.
Soaring investments toward the exploration & production of new oil reserves to cater rising fuel demand will accelerate the oil storage market growth across the Middle East. In addition, growing focus toward the development and expansion of storage facilities on account of volatile oil & gas prices will enhance the business outlook over the forecast timeframe.
Strategic oil storage market will witness substantial growth owing to constant efforts by respective governments to refurbish and expand existing storage facilities. Emphasis on improving energy security along with the volatile oil prices and fluctuations in short time supply of crude oil will further drive the installation of across the region.
Fixed roof oil storage market is set to grow substantially on account of its ability to lower vapor losses by deploying internal fixed decks along with the rising environmental concerns toward the emission from storage facilities. The growing demand of high flash point liquids will further stimulate the penetration of fixed roof storage facilities in the forthcoming years.
Saudi Arabia oil storage market will witness strong growth on account of growing focus toward the development of downstream and midstream infrastructure to efficiently cater the fluctuations in demand & supply. Expansion of oil refineries along with efforts toward optimization in delivery schedule of crude products has enhanced country’s position as a key trading hub. Moreover, rapid industrialization coupled with the growing investments to mitigate the demand supply mismatch will positively influence the industry dynamics across the country.
Key industry players operating across the market comprise of Tianjin Anson International Company, Elixir, Ergil, Vopak, Abu Dhabi National Oil Company (ADNOC), Qaisoon Trailers Industries FZC FZE, Vitol, Gulf Specialized Works, Roth industries, and Arabian Consulting Engineering Center (ACEC) amongst others.
Middle East Oil Storage Market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2014 to 2025, for the following segments:
Market Share, By Product
- Fixed Roof
- Floating Roof
Market Size, By End Use
- Crude Oil
- Aviation Fuel
- Middle Distillates
Market Value, By Reserve
- Strategic Reserve
- Commercial Reserve