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Asia Pacific Oil Storage Market
Updated On

Jan 15 2025

Total Pages

140

Asia Pacific Oil Storage Market 2025-2033 Trends: Unveiling Growth Opportunities and Competitor Dynamics

Asia Pacific Oil Storage Market by Product (Fixed roof, Floating roof, Spherical, Others), by End Use (Crude Oil, Gasoline, Aviation Fuel, Middle Distillates, LNG, LPG), by Asia Pacific (China, India, Japan, Australia, South Korea, Indonesia, Malaysia, Singapore, Thailand, Vietnam, Philippines, Sri Lanka) Forecast 2025-2033

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Asia Pacific Oil Storage Market 2025-2033 Trends: Unveiling Growth Opportunities and Competitor Dynamics




Key Insights

The size of the Asia Pacific Oil Storage Market was valued at USD 372.2 Million in 2023 and is projected to reach USD 464.02 Million by 2032, with an expected CAGR of 3.2% during the forecast period. The Asia Pacific oil storage market will experience a stable growth phase because of increasing energy demands, enhancing refining capacities, and strategic investment in infrastructure. With energy consumption growing in the region, oil storage solutions become increasingly critical with regard to efficiency and security. Simultaneously, investments in infrastructure will help the region be able to meet its growing needs for energy without causing heavy environmental damage. With this, an expected rise in demand for oil storage solutions, the Asia Pacific market is strategically positioned to grow as part of the most important element in this region's energy map.

Asia Pacific Oil Storage Market Research Report - Market Size, Growth & Forecast

Asia Pacific Oil Storage Market Concentration & Characteristics

The market exhibits moderate concentration levels, with several established players holding significant market share. Key characteristics include innovation in storage and handling technologies, stringent regulations governing safety and environmental standards, and increasing consolidation through mergers and acquisitions.

Asia Pacific Oil Storage Market Trends

Surge in demand for crude oil storage: Expanding oil production and exploration activities in Asia Pacific are driving demand for crude oil storage facilities.

Growing emphasis on product diversification: Storage providers are diversifying their offerings to cater to the storage needs of various petroleum products such as gasoline, jet fuel, and petrochemicals.

Technological advancements: IoT, data analytics, and automation are transforming storage operations, enhancing efficiency, and reducing costs.

Asia Pacific Oil Storage Market Growth

Key Region or Country & Segment to Dominate the Market

  • Dominant Region: China is the largest market for oil storage in Asia Pacific, accounting for a significant share of overall capacity.
  • Dominant Segment: Crude oil storage dominates the market due to the region's high demand for imported crude and strategic reserves.

Asia Pacific Oil Storage Market Product Insights Report Coverage & Deliverables

  • Market size, share, and growth projections
  • Analysis of product segments (fixed roof, floating roof, spherical, others)
  • End-use industry analysis (crude oil, gasoline, aviation fuel, middle distillates, LNG, LPG)
  • Competitive landscape and company profiles

Asia Pacific Oil Storage Market Analysis

In 2022, the Asia Pacific oil storage market was valued at 372.2 Million, with a projected CAGR of 3.2% over the next five years. China, India, and Japan are the major contributors to market growth.

Asia Pacific Oil Storage Market Regional Insights

  • Asia Pacific:
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • Indonesia
    • Malaysia
    • Singapore
    • Thailand
    • Vietnam
    • Philippines
    • Sri Lanka

Driving Forces: What's Propelling the Asia Pacific Oil Storage Market

  • Rising energy demand
  • Expanding refining capacity
  • Strategic investments in infrastructure
  • Government initiatives for energy security

Challenges and Restraints in Asia Pacific Oil Storage Market

  • Fluctuations in oil prices
  • Stringent environmental regulations
  • Space constraints in urban areas

Emerging Trends in Asia Pacific Oil Storage Market

  • Underground storage facilities
  • Shared storage arrangements
  • Real-time inventory management systems

Asia Pacific Oil Storage Industry News

  • May 2022: Royal Vopak partners with Aegis to establish 'Aegis Vopak Terminal' in India, adding 490,000 cubic meters of capacity.
  • October 2020: VOPAK signs LOI with Chandra Asri to establish a joint venture for industrial infrastructure in Indonesia.

Leading Players in the Asia Pacific Oil Storage Market

Asia Pacific Oil Storage Market Segmentation

  • 1. Product
    • 1.1. Fixed roof
    • 1.2. Floating roof
    • 1.3. Spherical
    • 1.4. Others
  • 2. End Use
    • 2.1. Crude Oil
    • 2.2. Gasoline
    • 2.3. Aviation Fuel
    • 2.4. Middle Distillates
    • 2.5. LNG
    • 2.6. LPG

Asia Pacific Oil Storage Market Segmentation By Geography

  • 1. Asia Pacific
    • 1.1. China
    • 1.2. India
    • 1.3. Japan
    • 1.4. Australia
    • 1.5. South Korea
    • 1.6. Indonesia
    • 1.7. Malaysia
    • 1.8. Singapore
    • 1.9. Thailand
    • 1.10. Vietnam
    • 1.11. Philippines
    • 1.12. Sri Lanka

Asia Pacific Oil Storage Market Regional Share



Asia Pacific Oil Storage Market REPORT HIGHLIGHTS

AspectsDetails
Study Period 2019-2033
Base Year 2024
Estimated Year 2025
Forecast Period2025-2033
Historical Period2019-2024
Growth RateCAGR of 3.2% from 2019-2033
Segmentation
    • By Product
      • Fixed roof
      • Floating roof
      • Spherical
      • Others
    • By End Use
      • Crude Oil
      • Gasoline
      • Aviation Fuel
      • Middle Distillates
      • LNG
      • LPG
  • By Geography
    • Asia Pacific
      • China
      • India
      • Japan
      • Australia
      • South Korea
      • Indonesia
      • Malaysia
      • Singapore
      • Thailand
      • Vietnam
      • Philippines
      • Sri Lanka


Table Of Content
  1. 1. Introduction
    • 1.1. Research Scope
    • 1.2. Market Segmentation
    • 1.3. Research Methodology
    • 1.4. Definitions and Assumptions
  2. 2. Executive Summary
    • 2.1. Introduction
  3. 3. Market Dynamics
    • 3.1. Introduction
      • 3.2. Market Drivers
        • 3.2.1 Increasing energy production rate & oil trade movement
        • 3.2.2 Requirement of additional storage capacity
      • 3.3. Market Restrains
        • 3.3.1. High capital expenditure
      • 3.4. Market Trends
        • 3.4.1. Surge in demand for crude oil storage
  4. 4. Market Factor Analysis
    • 4.1. Porters Five Forces
    • 4.2. Supply/Value Chain
    • 4.3. PESTEL analysis
    • 4.4. Market Entropy
    • 4.5. Patent/Trademark Analysis
  5. 5. Asia Pacific Oil Storage Market Analysis, Insights and Forecast, 2019-2031
    • 5.1. Market Analysis, Insights and Forecast - by Product
      • 5.1.1. Fixed roof
      • 5.1.2. Floating roof
      • 5.1.3. Spherical
      • 5.1.4. Others
    • 5.2. Market Analysis, Insights and Forecast - by End Use
      • 5.2.1. Crude Oil
      • 5.2.2. Gasoline
      • 5.2.3. Aviation Fuel
      • 5.2.4. Middle Distillates
      • 5.2.5. LNG
      • 5.2.6. LPG
    • 5.3. Market Analysis, Insights and Forecast - by Region
      • 5.3.1. Asia Pacific
  6. 6. Competitive Analysis
    • 6.1. Market Share Analysis 2024
      • 6.2. Company Profiles
        • 6.2.1 CST Industries
          • 6.2.1.1. Overview
          • 6.2.1.2. Products
          • 6.2.1.3. SWOT Analysis
          • 6.2.1.4. Recent Developments
          • 6.2.1.5. Financials (Based on Availability)
        • 6.2.2 NOV Inc
          • 6.2.2.1. Overview
          • 6.2.2.2. Products
          • 6.2.2.3. SWOT Analysis
          • 6.2.2.4. Recent Developments
          • 6.2.2.5. Financials (Based on Availability)
        • 6.2.3 Tianjin Anson International Co Ltd
          • 6.2.3.1. Overview
          • 6.2.3.2. Products
          • 6.2.3.3. SWOT Analysis
          • 6.2.3.4. Recent Developments
          • 6.2.3.5. Financials (Based on Availability)
        • 6.2.4 ElixirPro Engineering Solutions Pvt. Ltd
          • 6.2.4.1. Overview
          • 6.2.4.2. Products
          • 6.2.4.3. SWOT Analysis
          • 6.2.4.4. Recent Developments
          • 6.2.4.5. Financials (Based on Availability)
        • 6.2.5 Roth Industries GmbH & Co KG
          • 6.2.5.1. Overview
          • 6.2.5.2. Products
          • 6.2.5.3. SWOT Analysis
          • 6.2.5.4. Recent Developments
          • 6.2.5.5. Financials (Based on Availability)
        • 6.2.6 ERGIL
          • 6.2.6.1. Overview
          • 6.2.6.2. Products
          • 6.2.6.3. SWOT Analysis
          • 6.2.6.4. Recent Developments
          • 6.2.6.5. Financials (Based on Availability)
        • 6.2.7 Royal Vopak
          • 6.2.7.1. Overview
          • 6.2.7.2. Products
          • 6.2.7.3. SWOT Analysis
          • 6.2.7.4. Recent Developments
          • 6.2.7.5. Financials (Based on Availability)
        • 6.2.8 Float-Tek International Co. Ltd
          • 6.2.8.1. Overview
          • 6.2.8.2. Products
          • 6.2.8.3. SWOT Analysis
          • 6.2.8.4. Recent Developments
          • 6.2.8.5. Financials (Based on Availability)
        • 6.2.9 Kfloat
          • 6.2.9.1. Overview
          • 6.2.9.2. Products
          • 6.2.9.3. SWOT Analysis
          • 6.2.9.4. Recent Developments
          • 6.2.9.5. Financials (Based on Availability)
        • 6.2.10 DFC Pressure Vessel Manufacturer Co. Ltd.
          • 6.2.10.1. Overview
          • 6.2.10.2. Products
          • 6.2.10.3. SWOT Analysis
          • 6.2.10.4. Recent Developments
          • 6.2.10.5. Financials (Based on Availability)
List of Figures
  1. Figure 1: Asia Pacific Oil Storage Market Revenue Breakdown (Million, %) by Product 2024 & 2032
  2. Figure 2: Asia Pacific Oil Storage Market Share (%) by Company 2024
List of Tables
  1. Table 1: Asia Pacific Oil Storage Market Revenue Million Forecast, by Region 2019 & 2032
  2. Table 2: Asia Pacific Oil Storage Market Volume Barrels Forecast, by Region 2019 & 2032
  3. Table 3: Asia Pacific Oil Storage Market Revenue Million Forecast, by Product 2019 & 2032
  4. Table 4: Asia Pacific Oil Storage Market Volume Barrels Forecast, by Product 2019 & 2032
  5. Table 5: Asia Pacific Oil Storage Market Revenue Million Forecast, by End Use 2019 & 2032
  6. Table 6: Asia Pacific Oil Storage Market Volume Barrels Forecast, by End Use 2019 & 2032
  7. Table 7: Asia Pacific Oil Storage Market Revenue Million Forecast, by Region 2019 & 2032
  8. Table 8: Asia Pacific Oil Storage Market Volume Barrels Forecast, by Region 2019 & 2032
  9. Table 9: Asia Pacific Oil Storage Market Revenue Million Forecast, by Product 2019 & 2032
  10. Table 10: Asia Pacific Oil Storage Market Volume Barrels Forecast, by Product 2019 & 2032
  11. Table 11: Asia Pacific Oil Storage Market Revenue Million Forecast, by End Use 2019 & 2032
  12. Table 12: Asia Pacific Oil Storage Market Volume Barrels Forecast, by End Use 2019 & 2032
  13. Table 13: Asia Pacific Oil Storage Market Revenue Million Forecast, by Country 2019 & 2032
  14. Table 14: Asia Pacific Oil Storage Market Volume Barrels Forecast, by Country 2019 & 2032
  15. Table 15: China Asia Pacific Oil Storage Market Revenue (Million) Forecast, by Application 2019 & 2032
  16. Table 16: China Asia Pacific Oil Storage Market Volume (Barrels) Forecast, by Application 2019 & 2032
  17. Table 17: India Asia Pacific Oil Storage Market Revenue (Million) Forecast, by Application 2019 & 2032
  18. Table 18: India Asia Pacific Oil Storage Market Volume (Barrels) Forecast, by Application 2019 & 2032
  19. Table 19: Japan Asia Pacific Oil Storage Market Revenue (Million) Forecast, by Application 2019 & 2032
  20. Table 20: Japan Asia Pacific Oil Storage Market Volume (Barrels) Forecast, by Application 2019 & 2032
  21. Table 21: Australia Asia Pacific Oil Storage Market Revenue (Million) Forecast, by Application 2019 & 2032
  22. Table 22: Australia Asia Pacific Oil Storage Market Volume (Barrels) Forecast, by Application 2019 & 2032
  23. Table 23: South Korea Asia Pacific Oil Storage Market Revenue (Million) Forecast, by Application 2019 & 2032
  24. Table 24: South Korea Asia Pacific Oil Storage Market Volume (Barrels) Forecast, by Application 2019 & 2032
  25. Table 25: Indonesia Asia Pacific Oil Storage Market Revenue (Million) Forecast, by Application 2019 & 2032
  26. Table 26: Indonesia Asia Pacific Oil Storage Market Volume (Barrels) Forecast, by Application 2019 & 2032
  27. Table 27: Malaysia Asia Pacific Oil Storage Market Revenue (Million) Forecast, by Application 2019 & 2032
  28. Table 28: Malaysia Asia Pacific Oil Storage Market Volume (Barrels) Forecast, by Application 2019 & 2032
  29. Table 29: Singapore Asia Pacific Oil Storage Market Revenue (Million) Forecast, by Application 2019 & 2032
  30. Table 30: Singapore Asia Pacific Oil Storage Market Volume (Barrels) Forecast, by Application 2019 & 2032
  31. Table 31: Thailand Asia Pacific Oil Storage Market Revenue (Million) Forecast, by Application 2019 & 2032
  32. Table 32: Thailand Asia Pacific Oil Storage Market Volume (Barrels) Forecast, by Application 2019 & 2032
  33. Table 33: Vietnam Asia Pacific Oil Storage Market Revenue (Million) Forecast, by Application 2019 & 2032
  34. Table 34: Vietnam Asia Pacific Oil Storage Market Volume (Barrels) Forecast, by Application 2019 & 2032
  35. Table 35: Philippines Asia Pacific Oil Storage Market Revenue (Million) Forecast, by Application 2019 & 2032
  36. Table 36: Philippines Asia Pacific Oil Storage Market Volume (Barrels) Forecast, by Application 2019 & 2032
  37. Table 37: Sri Lanka Asia Pacific Oil Storage Market Revenue (Million) Forecast, by Application 2019 & 2032
  38. Table 38: Sri Lanka Asia Pacific Oil Storage Market Volume (Barrels) Forecast, by Application 2019 & 2032


STEP 1 - Identification of Relevant Samples Size from Population Database

Step Chart
bar chart
method chart

STEP 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)

approach chart
Top-down and bottom-up approaches are used to validate the global market size and estimate the market size for manufactures, regional segemnts, product and application.

Note* : In applicable scenarios

STEP 3 - Data Sources

Primary Research

  • Web Analytics
  • Survey Reports
  • Research Institute
  • Latest Research Reports
  • Opinion Leaders

Secondary Research

  • Annual Reports
  • White Paper
  • Latest Press Release
  • Industry Association
  • Paid Database
  • Investor Presentations
approach chart

STEP 4 - Data Triangulation

Involves using different sources of information in order to increase the validity of a study

These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.

Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.

During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence

Additionally after gathering mix and scattered data from wide range of sources, data is triangull- ated and correlated to come up with estimated figures which are further validated through primary mediums, or industry experts, opinion leader.

Frequently Asked Questions

Can you provide details about the market size?

The market size is estimated to be USD 372.2 Million as of 2022.

How do I determine which pricing option suits my needs best?

The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.

What are some drivers contributing to market growth?

Increasing energy production rate & oil trade movement., Requirement of additional storage capacity.

What are the main segments of the Asia Pacific Oil Storage Market?

The market segments include Product, End Use

How can I stay updated on further developments or reports in the Asia Pacific Oil Storage Market?

To stay informed about further developments, trends, and reports in the Asia Pacific Oil Storage Market, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.

Is the market size provided in terms of value or volume?

The market size is provided in terms of value, measured in Million and volume, measured in Barrels.

What pricing options are available for accessing the report?

Pricing options include single-user, multi-user, and enterprise licenses priced at USD 3,250 , USD 3,750, and USD 5,750 respectively.

Can you provide examples of recent developments in the market?

In May 2022, Royal Vopak came into a strategic partnership with Aegis, an India based oil & gas & chemical logistics company to established ‘Aegis Vopak Terminal’. The partnership between the two when announced in July 2021, has added 3 additional terminals with a capacity of 490,000 cubic meters as of May 2022. In addition, the partnership with an investment of nearly USD 132 million will intensify growth of the industry in terms of LPG, LNG, chemicals, and other industrial product storage over the coming years.

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