Oil Storage Market Top Trends, Future Analysis & Forecast 2022- 2030

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Oil Storage Market is expected to be USD 1144.2
Million by 2030
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Industry Overview

• The oil storage market is poised to depict
  considerable growth, driven by advancements in
  the construction of improved storage facilities,
  investments in oil trade, and positive government
  support.
• The rapid post-COVID-19 recovery of aviation, the
  oil and gas industry, and other industrial
  sectors are further poised to accelerate the oil
  storage market in the coming years.
• The introduction of enhanced capabilities of oil
  storage tanks to improve storage capacities and
  increasing trade practices as a result of
  cross-border relations would add to the oil
  storage market demand.
• Rising investments from industry players are also
  presenting new pathways of growth for the oil
  storage business landscape.
• A recent Global Market Insights Inc. report cites
  that the oil storage market is expected to
  register a valuation of 1,100 million cubic
  meters (Capacity) through 2030.

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• Below is a brief overview of key factors in the
  field that will augment the market revenues
  through 2030
• A key trend being observed in the oil storage
  sector is rising investments in the construction
  of new oil storage units by key market players.
  The companies are focusing on building new
  storage units to expand storage capacities.
  Citing an instance, recently, the Jiangsu
  province of China observed the completion of the
  prominent structure of the countrys largest LPG
  storage base. The base has a storage capacity of
  2.5 million cubic meters, and will be fully
  operational in 2023. The unit will store
  approximately 6 million tonnes of LNG yearly,
  which is equivalent to over 8.5 billion cubic
  meters of natural gas.
• Stating another instance, in December 2021,
  Arroyo Investors, an investment manager
  headquartered in Houston, announced its
  investments in Gasmar S.A., which is a storage
  and terminal facility for LPG in Chile. Moreover,
  Gasmars Quintero Bay facility is known as one of
  the largest LPG terminals on the Pacific Coast of
  South America. Also, Gasmar is set to construct a
  new terminal in Mejillones Bay to extend its
  footprint in Chile.

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Oil Storage Market

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