The global oil and gas storage service market to grow at a CAGR of 2.2% during the period 2016-2020.
The report covers the present scenario and the growth prospects of the global oil and gas storage service market for 2016-2020. To calculate the market size, the report presents the vendor landscape and a corresponding detailed profiling of the key market participants across the value chain of the market.
According to the report, one of the primary drivers in the market is geographical diversification of crude oil markets. One of the most obvious outcomes of the present era of fossil fuel is that the era of easy oil is coming to an end. This has resulted not only in inflated costs of hydrocarbon acquisition but also displaced the operations geographically. Much of the past century was witness to drilling operations being carried out at established locations in the world. The major hydrocarbon rich regions around the globe were identified in the early 20th century, and most operations were based out of these areas for the next century or so. However, things have started to change significantly now, and exploration and production (E&P) companies have started to look at unconventional avenues for exploration.
Further, the report states that one major challenge in the market is high operational cost and strategic locations for oil terminals. With an increase in demand for value-added services (VAS) and specialized professional supply chain solutions in the oil and gas storage service market, the oil and gas industry is becoming highly competitive in terms of pricing of services. Vendors in the market are under sustained pressure from customers to keep prices low. While these providers have made profits from fixed-term long contracts with customers, volatility of fuel prices has decreased profitability. Customers are demanding lower rates while renewing contracts. Independent oil storage company's customers are demanding additional services at the same price; thus, companies are facing pressure in pricing their services.
Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
- Royal Vopak
- Magellan Midstream Partners
- Buckeye Partners
Other prominent vendors
- Blueknight Energy Partners
- CIM-CCMP Group
- CLH Group
- Dailan Port Company
- Horizon Terminals Limited
- International-Matex Tank Terminals (IMTT)
- Kinder Morgan
- NuStar Energy
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Market research methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by service type
Part 07: Geographical segmentation
Part 08: Market drivers
Part 09: Impact of drivers
Part 10: Market challenges
Part 11: Impact of drivers and challenges
Part 12: Market trends
Part 13: Vendor landscape
Part 14: Appendix
For more information about this report visit http://www.researchandmarkets.com/research/f7vd6c/global_oil_and
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/research-and-markets---global-oil-and-gas-storage-service-market-2016-2020-with-royal-vopak-oiltanking-magellan-midstream-partners-buckeye-partners--vitol-dominating-300374500.html
SOURCE Research and Markets