Oil storage tanks are required in the production, refining, and distribution of petroleum products. Small bolted tanks are ideal for production fields while larger, welded storage tanks are used in distribution terminals and refineries throughout the world. Product operating conditions, storage capacities, and specific design issues can affect the tank selection process. The petroleum industry has experienced significant changes in the types of products used to feed the refineries around the world. Increased use of petroleum products has prompted the industry to turn to other sources for supply. Changes in product, physical, and chemical properties impose new challenges to the storage tank industry. Environmental and safety requirements continue to be a significant factor in the selection and design of storage tanks used by the petroleum industry.
MARKET SCOPE
The "Global Fixed roof oil storage Market Analysis to 2028" is a specialized and in-depth study of the Fixed roof oil storage market with a special focus on the global market trend analysis. The report aims to provide an overview of fixed roof oil storage market with detailed market segmentation by type, material, and geography. The global fixed roof oil storage market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading fixed roof oil storage market players and offers key trends and opportunities in the fixed roof oil storage market.
MARKET SEGMENTATION
-The global fixed roof oil storage market is segmented on the basis of type, and material.
-On the basis of type, the market is segmented as crude oil, gasoline, aviation fuel, naphtha, diesel, and others.
-On the basis of material the market is segmented into steel, carbon steel, and fiberglass-reinforced plastic.
Drivers
-Increasing oil & gas production activities along with the growing demand for crude oil in several end-use sectors.
-Suppliers are focusing on inventories and infrastructure development owing to rising crude oil demand and to store crude oil in large quantities.
-Fluctuation in oil prices.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Fixed roof oil storage market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i. e. , drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the fixed roof oil storage market in these regions.
IMPACT OF COVID-19 ON FIXED ROOF OIL STORAGE MARKET
COVID-19 has severely impacted the global economy with devastating effects on global trade, which has simultaneously affected households, business, financial institution, industrial establishments, and infrastructure companies. The novel coronavirus has affected several economies ad caused lockdown in many countries, which limited effect on the growth of the market. The shutdown of industrial manufacturer led to the decline in the demand for fossil fuels in transportation and aviation sector, which led to decline in the development of the oil storage market. Decrease in demand for oil and oil products has halted the production processes at both offshore and onshore locations. Therefore, oil storage tank terminal construction and up gradation projects are expected to be pushed further due to the shutdown in the industry.
MARKET PLAYERS
The report covers key developments in the fixed roof oil storage market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Fixed roof oil storage market market are anticipated to lucrative growth opportunities in the future with the rising demand for Fixed roof oil storage market in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the fixed roof oil storage market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
-Belco manufacturing co. , Inc.
-Brooge Energy
-Containment Solutions, Inc.
-LBC Tank Terminals,
-L. F. Manufacturing, Inc.
-Oiltanking GmbH
-Odfjell SE
-Puma Energy
-Royal Vopak
-Vitol