The UAE oil storage terminal market size is expected to reach USD 541.97 million by 2027 while exhibiting a CAGR of 2.6% between 2020 and 2027. This is attributable to the increasing oil trade activities and the growing chemical sector that is likely to propel the demand for the UAE oil storage terminal. This information is published by Fortune Business Insights in its latest report, titled, “UAE Oil Storage Terminal Size, Share and COVID-19 Impact Analysis By Type (Strategic Reserve and Commercial Reserve), By Tank Type (Fixed Roof, Floating Roof, Bullet Tank, and Spherical Tank), By Product (Diesel, Petrol, Aviation Fuel, Crude Oil, Kerosene, and Others) and Regional Forecasts, 2020-2027.” The report further observes that the market stood at USD 115.51 million in 2019 and is expected to gain momentum during the forecast period.
Request Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/uae-oil-storage-terminal-market-104593
Delayed Oil Gas Projects amid COVID-19 to Lead to Slow Growth
The lockdown announced by the UAE government has led to the suspension of several industrial activities in the country. Several oil & gas projects have been either stopped or postponed leading to a negative impact on the market. For instance, in March 2020, UAE’s Sharjah National Oil Company (SNOC) reported that the impact of the coronavirus is likely to delay the production of its Mahani gas exploration project by a couple of months. Such instances may lead to slow growth before the UAE oil storage terminal market catches up during the forecast period.
An oil terminal is a type of facility that aids in the efficient storage of oil, petrochemical, and petroleum products. The growing demand for storage tanks in the UAE oil storage terminal category is experiencing significant demand due to the high demand for oil & gas products and several end-user industrial facilities.
Click here to get the short-term and long-term impact of COVID-19 on this UAE Oil Storage Terminal Market.
Highlights of the Report:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the UAE oil storage terminal market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, RandD activities, and product launches in the UAE oil storage terminal market
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the UAE oil storage terminal market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the UAE oil storage terminal market
Get Your Customized Report: https://www.fortunebusinessinsights.com/enquiry/customization/uae-oil-storage-terminal-market-104593
List of the Companies Profiled in the Global Market for UAE Oil Storage Terminal:
- VTTI
- GPS Chemoil
- Brooge Energy Limited
- Royal Vopak
- GP Global
- Horizon Terminals
What does the Report Provide?
The market for UAE oil storage terminal report provides an in-depth analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to announce partnerships, introduce new products, and collaborate that will further contribute to the growth of the market. Moreover, the research analyst has adopted several research methodologies to extract information about the current trends and industry developments that will drive the UAE oil storage terminal market growth between 2020 and 2027.
