South America Oil And Gas Storage Tank Market Size (2024 - 2029)

The South America oil and gas storage tank market is anticipated to experience growth driven by increasing consumption and oil production, despite challenges posed by high investment and maintenance costs. Opportunities for expansion are present through the development of storage facilities and new pipelines aimed at enhancing storage capacity. Brazil is identified as the fastest-growing country in this market during the forecast period.

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Market Size of South America Oil And Gas Storage Tank Industry

South America Oil And Gas Storage Tank Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 4.80 %
Market Concentration Low

Major Players

South America Oil and gas storage tank Market Major Players

*Disclaimer: Major Players sorted in no particular order

South America Oil And Gas Storage Tank Market Analysis

The South America Oil and gas storage tank market is estimated to be at USD 2.1 billion by the end of this year and is projected to reach USD 2.65 billion in the next five years, registering a CAGR of over 4.8% during the forecast period.

Increasing consumption and growing oil production are expected to drive the demand for Oil and gas storage tanks during the forecast period.

However, high investment and maintenance cost is expected to hinder the growth of the Oil and gas storage tank market.

Development of storage facilities and new pipelines for improving the storage tank capacity creates ample opportunities for the oil and gas storage tank market in the forecast period.

Brazil is the fastest-growing country in the South America Oil and gas storage tank market during the forecast period.

South America Oil And Gas Storage Tank Industry Segmentation

Oil and gas storage tanks are used for the storage of petroleum products, crude oil, and LNG products. The South American oil and gas storage tank market is segmented by sector, type, and geography. By sector, the market is segmented into upstream, midstream, and downstream. By type, the market is segmented into above-ground, and underground. The report also covers the market size and forecasts for the South American oil and gas storage tank market across major countries in the region, including Venezuela, Brazil, Argentina, Columbia, and the Rest of South America. For each segment, the market sizes and forecasts are provided in terms of value in USD billion.

Sector
Upstream
Midstream
Downstream
Type
Above ground
Underground
Countries
Venezuela
Argentina
Brazil
Columbia
Rest of South America
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South America Oil And Gas Storage Tank Market Size Summary

The South America oil and gas storage tank market is poised for growth, driven by increasing consumption and rising oil production across the region. Despite challenges such as high investment and maintenance costs, the development of new storage facilities and pipelines presents significant opportunities for market expansion. Brazil stands out as the fastest-growing country in this sector, benefiting from its substantial offshore oil production and proven reserves. The midstream segment, which includes transportation and storage infrastructure, is expected to experience notable growth due to the need for modernization and the increasing output of oil and gas.

South America, with its rich oil-producing history, remains a key player in the global oil and gas market, with countries like Brazil, Venezuela, Argentina, and Colombia leading the charge. The region's offshore projects are particularly attractive due to their competitive economics, prompting substantial investments in new infrastructure. Brazil's strategic initiatives, such as the deployment of Floating Production Storage and Offloading units and the expansion of LNG terminals, underscore its pivotal role in the market's growth. The market is moderately consolidated, with key players like Mcdermott International Ltd and Petróleo Brasileiro S.A. actively shaping the industry's landscape through strategic investments and partnerships.

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South America Oil And Gas Storage Tank Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2028

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

        1. 1.5.1.1 Increasing investment in the downstream sector

        2. 1.5.1.2 Rising offshore Oil exploration activities

      2. 1.5.2 Restraints

        1. 1.5.2.1 Rising adoption of cleaner alternatives

      3. 1.5.3 Oppurtunities

        1. 1.5.3.1 Growing demand for automation in the control process

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Force Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Sector

      1. 2.1.1 Upstream

      2. 2.1.2 Midstream

      3. 2.1.3 Downstream

    2. 2.2 Type

      1. 2.2.1 Above ground

      2. 2.2.2 Underground

    3. 2.3 Countries

      1. 2.3.1 Venezuela

      2. 2.3.2 Argentina

      3. 2.3.3 Brazil

      4. 2.3.4 Columbia

      5. 2.3.5 Rest of South America

South America Oil And Gas Storage Tank Market Size FAQs

The South America Oil And Gas Storage Tank Market is projected to register a CAGR of 4.80% during the forecast period (2024-2029)

Mcdermott international ltd, Petróleo Brasileiro S.A, Shawcor Ltd, YPF S.A and ROSEN Group. are the major companies operating in the South America Oil And Gas Storage Tank Market.

South America Oil And Gas Storage Tank Market Report Snapshots

South America Oil and gas storage tank Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)