Oil Storage Global Market Report 2026

Oil storage involves the use of reservoirs or containers to temporarily store oil products before they are transported to end-users. This storage method allows companies to maximize profits by utilizing cost-effective storage solutions, such as underground spaces in depleted reservoirs.

The primary types of oil storage include open-top tanks, fixed roof tanks, floating roof tanks, and others. Open-top tanks are process-oriented and are commonly employed for tasks such as blending or containment, including chroming tanks, dipping tanks, and batch tanks. These tanks serve as secondary containers for liquid storage in various industries. They are utilized for storing a range of oil products, including crude oil, gasoline, aviation fuel, naphtha, diesel, kerosene, and liquefied petroleum gas (LPG). Different materials are used in oil storage, including steel, carbon steel, fiberglass-reinforced plastic (FRP), and others.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs have impacted the oil storage market by increasing the cost of imported steel, carbon steel plates, and specialized construction materials used in tank manufacturing. Fixed roof and floating roof tank segments are most affected, particularly in Asia Pacific and North America due to dependence on cross border raw material sourcing. Oil storage developers face higher capital costs and longer project execution timelines. At the same time, tariffs are encouraging domestic steel utilization, localized tank fabrication, and innovation in cost efficient storage designs.

The oil storage market research report is one of a series of new reports from The Business Research Company that provides oil storage market statistics, including oil storage industry global market size, regional shares, competitors with an oil storage market share, detailed oil storage market segments, market trends and opportunities, and any further data you may need to thrive in the oil storage industry. This oil storage market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The oil storage market size has grown strongly in recent years. It will grow from $10.74 billion in 2025 to $11.48 billion in 2026 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to growth in global oil production, expansion of refining capacities, volatility in crude oil prices, increase in petroleum trade activities, demand for bulk oil storage infrastructure.

The oil storage market size is expected to see strong growth in the next few years. It will grow to $14.87 billion in 2030 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to strategic petroleum reserve expansion, growth in fuel consumption across emerging economies, increasing investment in storage terminal infrastructure, rising focus on energy security, expansion of aviation and petrochemical fuel demand. Major trends in the forecast period include rising demand for large scale strategic oil storage capacity, increasing use of underground and depleted reservoir storage, growing focus on safety and leak prevention in storage tanks, expansion of floating roof tank installations, increasing emphasis on efficient oil inventory management.

The oil storage market is poised for growth, driven by the increasing demand for crude oil supply. Oil storage facilities play a crucial role in storing crude oil, petroleum, and other oil products for subsequent distribution to end-users. The surge in demand for crude oil supply is attributed to the rising consumption of crude oil products such as petroleum, oil, and gas. As oil consumption continues to grow, there is a substantial need for increased crude oil supply, leading to a heightened demand for oil storage. Notably, the International Energy Agency (IEA) forecasts a significant annual growth of 9% in natural gas consumption in India, reaching 25 billion cubic meters by 2024. Additionally, the Indian Brand Equity Foundation (IBEF) projects a 50% growth in oil demand in India by 2030 compared to a 7% global demand growth. Hence, the escalating demand for crude oil supply is expected to be a driving force for the oil storage market.

Major companies operating in the oil storage market are focusing on developing innovative solutions, such as onshore crude oil export terminals, to address the growing demand for cost-efficient crude evacuation and enhanced production logistics. Onshore crude oil export terminals are large-scale facilities designed for local crude storage and management, equipped with high-capacity storage tanks, integrated loading systems, and multi-modal access via truck, barge, pipeline, and sea. Unlike traditional dependence on distant or floating production storage systems, these terminals help reduce operational and capital expenditures by enabling localized storage and faster evacuation. For instance, in May 2025, Green Energy International Limited, a Nigeria-based energy infrastructure company, launched the Otakikpo Oil Terminal, an advanced onshore terminal that provides local crude storage with an initial capacity of 750,000 barrels, expandable to three million barrels, and a loading capacity of 360,000 barrels per day. The terminal incorporates indigenous engineering, delivers logistical advantages for marginal field operators, minimizes evacuation bottlenecks, and reduces production costs by up to 40%, while also supporting energy transition goals through reduced gas flaring.

• In July 2024, Energy Transfer LP (NYSE: ET), based in Dallas, Texas, and Sunoco LP (NYSE: SUN), also headquartered in Dallas, announced the establishment of a joint venture to merge their respective crude oil and produced water gathering assets in the Permian Basin. Energy Transfer will serve as the operator of the joint venture, contributing its assets and operations related to Permian crude oil and produced water gathering. Meanwhile, Sunoco will provide all of its Permian crude oil gathering assets and operations. It's important to note that Energy Transfer's long-haul crude pipeline network, which transports crude oil from the Permian Basin to Nederland, Houston, and Cushing, is excluded from this joint venture.

Major companies operating in the oil storage market are NOV Inc., Chemie Tech, Shawcor Ltd, CST Industries, PermianLide (Permian Tank), McDermott International Ltd, Snyder Industries, Toyo Kanetsu KK, Superior Tank Co. Inc., Ishii Iron Works Co Ltd., Oil India Ltd, Reliance Industries Ltd, China National Petroleum Corporation, China National Offshore Oil Corporation, Shaanxi Yanchang Petroleum, Sinochem Group, JAPAN OIL Development Co. Ltd. Minato-Ku, Japan Petroleum Exploration Co. Ltd, Sakhalin Oil and Gas Development Co. Ltd, Japan Organization for Metals and Energy Security, BPA British Pipelines Agency, CLH Compania Logistica de Hidrocarburos, GPSS Government Pipelines and Storage System, OPA Oil and Pipelines Agency, PSD Petroleum Storage Depo, Rosneft, Surgutneftegas, Gazprom, LukOil, Transneft, Climbex S.A., VIG Sp. z o.o, ETG Risorse e Tecnologia S.r.l, Suncor, Canadian Natural, Husky Energy, Kinetik Holdings Inc., Nustar Energy L.P., Delek US Holdings Inc., Exxon Mobil Corporation, Chevron Argentina SRL, YPF SA, Brooge Energy, Petrochem Middle East (PME), Engen Petroleum, Vivo Energy, MOL Group, Stolt-Nielsen Limited

North America was the largest region in the oil storage market in 2025. The regions covered in the oil storage market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the oil storage market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The oil storage market consists of sales of atmospheric storage tanks (AST), open top tanks (OTT), external floating-roof tanks (EFRT), and internal floating-roof tanks (IFRT). The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Oil Storage Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses oil storage market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for oil storage ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The oil storage market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market. This section also examines key products and services offered in the market, evaluates brand-level differentiation, compares product features, and highlights major innovation and product development trends.
• The supply chain analysis section provides an overview of the entire value chain, including key raw materials, resources, and supplier analysis. It also provides a list competitor at each level of the supply chain.
• The updated trends and strategies section analyses the shape of the market as it evolves and highlights emerging technology trends such as digital transformation, automation, sustainability initiatives, and AI-driven innovation. It suggests how companies can leverage these advancements to strengthen their market position and achieve competitive differentiation.
• The regulatory and investment landscape section provides an overview of the key regulatory frameworks, regularity bodies, associations, and government policies influencing the market. It also examines major investment flows, incentives, and funding trends shaping industry growth and innovation.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
• The total addressable market (TAM) analysis section defines and estimates the market potential compares it with the current market size, and provides strategic insights and growth opportunities based on this evaluation.
• The market attractiveness scoring section evaluates the market based on a quantitative scoring framework that considers growth potential, competitive dynamics, strategic fit, and risk profile. It also provides interpretive insights and strategic implications for decision-makers.
• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
• Expanded geographical coverage includes Taiwan and Southeast Asia, reflecting recent supply chain realignments and manufacturing shifts in the region. This section analyzes how these markets are becoming increasingly important hubs in the global value chain.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The company scoring matrix section evaluates and ranks leading companies based on a multi-parameter framework that includes market share or revenues, product innovation, and brand recognition.

Scope

• Markets Covered:1) By Product Design: Open Top Tank; Fixed Roof Tank; Floating Roof Tank; Other Designs
• 2) By Oil & Fuel Type: Crude Oil; Gasoline; Aviation Fuel; Naphtha; Diesel; Kerosene; Liquefied Petroleum Gas (LPG)
• 3) By Materials: Steel; Carbon Steel; Fiberglass Reinforced Plastic (FRP); Other Materials
• Subsegments:
• 1) By Open Top Tank: Cone Roof Open Top Tank; Flat Roof Open Top Tank
• 2) By Fixed Roof Tank: Cone Roof Fixed Tank; Domed Roof Fixed Tank; Vertical Fixed Roof Tank
• 3) By Floating Roof Tank: External Floating Roof Tank; Internal Floating Roof Tank
• 4) By Other Designs: Horizontal Tank; Underground Tank; Double-Wall Tank
• Companies Mentioned: NOV Inc.; Chemie Tech; Shawcor Ltd; CST Industries; PermianLide (Permian Tank); McDermott International Ltd; Snyder Industries; Toyo Kanetsu KK; Superior Tank Co. Inc.; Ishii Iron Works Co Ltd.; Oil India Ltd; Reliance Industries Ltd; China National Petroleum Corporation; China National Offshore Oil Corporation; Shaanxi Yanchang Petroleum; Sinochem Group; JAPAN OIL Development Co. Ltd. Minato-Ku; Japan Petroleum Exploration Co. Ltd; Sakhalin Oil and Gas Development Co. Ltd; Japan Organization for Metals and Energy Security; BPA British Pipelines Agency; CLH Compania Logistica de Hidrocarburos; GPSS Government Pipelines and Storage System; OPA Oil and Pipelines Agency; PSD Petroleum Storage Depo; Rosneft; Surgutneftegas; Gazprom; LukOil; Transneft; Climbex S.A.; VIG Sp. z o.o; ETG Risorse e Tecnologia S.r.l; Suncor; Canadian Natural; Husky Energy; Kinetik Holdings Inc.; Nustar Energy L.P.; Delek US Holdings Inc.; Exxon Mobil Corporation; Chevron Argentina SRL; YPF SA; Brooge Energy; Petrochem Middle East (PME); Engen Petroleum; Vivo Energy; MOL Group; Stolt-Nielsen Limited
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Taiwan; Russia; South Korea; UK; USA; Canada; Italy; Spain.
• Regions: Asia-Pacific; South East Asia; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time Series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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