An oil and gas storage facility is a crucial piece of infrastructure for the storage of refined petroleum products, natural gas liquids, and crude oil. These terminals are positioned in close proximity to important ports, refineries, or distribution centers to facilitate efficient transportation and distribution of oil and gas products. These terminals, which are typically equipped with large storage tanks, let companies effectively manage inventories, optimize processes, and respond to shifts in consumer demand. Terminal operators are essential to ensuring the safe handling, storage, and shipping of these commodities because they enforce strict environmental and safety regulations.
According to SPER market research, ‘Middle East Oil and Gas Storage Terminal Market Size- By Type, By Tank Type, By Product - Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Middle East Oil and Gas Storage Terminal Market is predicted to reach USD 7.49 billion by 2033 with a CAGR of 7.98%.
Drivers: The need for strategic petroleum reserves has made it imperative for many nations to increase storage capacity in order to meet opportunities for oil imports in the event of a crisis or shortage. For instance, the strategic oil reserve that each EU member state must keep must equal 90 days' worth of typical domestic use. In reaction to the COVID-19 pandemic's impacts, numerous countries have invested in increasing their oil storage capacity. The investment was made with the intention of reducing dependency on fuel imports and preparing for any possible emergency shortage of fuel or oil.
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Challenges: One major challenge is the oil price volatility. Because of their reliance on oil earnings, MEA countries are particularly susceptible to fluctuations in global oil prices. Because it affects storage terminal usage rates and profitability, this volatility has an impact on the demand for storage services. In the MEA region, inadequate infrastructure is another difficulty. While several nations have long-standing storage facilities, others might not have the necessary infrastructure because of historical underfunding or geopolitical considerations.
Numerous multinational corporations are suffering, particularly those in the automobile and aerospace sectors, as a result of the growing concerns over COVID-19. Because so many Middle Eastern countries depend on the oil and gas industry, lockdown procedures have not applied to most of their activities. However, the Middle East's industrial sector was seriously threatened by the COVID-19 pandemic. Many of the essential operations in the sector faced difficult working circumstances as a result of the strict measures implemented to stop the virus's spread. When working in cramped areas, employees must maintain their social distance.
Middle East Oil and Gas Storage Terminal Market Key Players:
Additionally, some of the market key players are; Brooge Energy Limited, VTTI, Fujairah National Group, Royal Vopak, General Petroleum, Horizon Terminals, Oman Tank Terminal Company, Oiltanking GmbH.
Middle East Oil and Gas Storage Terminal Market Segmentation:
By Type: Based on the Type, Middle East Oil and Gas Storage Terminal Market is segmented as; Strategic, Reserve, Commercial Reserve.
By Tank Type: Based on the Tank Type, Middle East Oil and Gas Storage Terminal Market is segmented as; Fixed Roof, Floating Roof, Bullet Tank, Spherical Tank.
By Product: Based on the Product, Middle East Oil and Gas Storage Terminal Market is segmented as; Diesel, Petrol, Aviation Fuel, Crude Oil, Kerosene, Gas, Others.
By Region: This research also includes data for Qatar, Saudi Arabia, United Arab Emirates.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
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Middle East Oil and Gas Storage Terminal Market Outlook
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Terminal automation is a system that eases the product handling at the terminal and enables integration of these operations with the business software.
It is used to measure, control, automate, and report all the exchanges and transfers.
It offers complete management from receipt of the product to inventory control to dispatch recording.The Terminal Automation in Oil and Gas market was valued at 820 Million US$ in 2018 and is projected to reach 1390 Million US$ by 2025, at a CAGR of 6.9% during the forecast period.
In this study, 2018 has been considered as the base year and 2019 to 2025 as the forecast period to estimate the market size for Terminal Automation in Oil and Gas.Download FREE Sample of this Report @ https://www.grandresearchstore.com/report-sample/global-terminal-automationoil-gas-2025-379This report presents the worldwide Terminal Automation in Oil and Gas market size (value, production and consumption), splits the breakdown (data status 2014–2019 and forecast to 2025), by manufacturers, region, type and application.This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter’s Five Forces Analysis.The following manufacturers are covered in this report:ABBEmersonImplico GroupSchneider ElectricYokogawaTerminal Automation in Oil and Gas Breakdown Data by TypeHardwareSoftwareServicesTerminal Automation in Oil and Gas Breakdown Data by ApplicationGas TerminalOil TerminalTerminal Automation in Oil and Gas Production by RegionUnited StatesEuropeChinaJapanOther RegionsTerminal Automation in Oil and Gas Consumption by RegionNorth AmericaUnited StatesCanadaMexicoAsia-PacificChinaIndiaJapanSouth KoreaAustraliaIndonesiaMalaysiaPhilippinesThailandVietnamThe study objectives are:To analyze and research the global Terminal Automation in Oil and Gas status and future forecast?involving, production, revenue, consumption, historical and forecast.To present the key Terminal Automation in Oil and Gas manufacturers, production, revenue, market share, and recent development.To split the breakdown data by regions, type, manufacturers and applications.To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.To identify significant trends, drivers, influence factors in global and regions.To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.In this study, the years considered to estimate the market size of Terminal Automation in Oil and Gas :History Year: 2014–2018Base Year: 2018Estimated Year: 2019Forecast Year: 2019–2025This report includes the estimation of market size for value (million USD) and volume (K Units).
Both top-down and bottom-up approaches have been used to estimate and validate the market size of Terminal Automation in Oil and Gas market, to estimate the size of various other dependent submarkets in the overall market.
Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research.
