UAE Oil Storage Terminal Market Introduction and Overview
According to SPER Market Research, the UAE Oil Storage Terminal Market is estimated to reach USD 642.08 million by 2033 with a CAGR of 3.17%.
The report includes an in-depth analysis of the UAE Oil Storage Terminal Market, including market size and trends, product mix, applications, and supplier analysis. An oil storage terminal is a type of facility where refined petroleum products like jet fuel, diesel and petrol are kept. These terminals play a crucial role in the oil supply chain by guaranteeing a consistent and dependable flow of energy supplies to satisfy both domestic and global demand. In order to sustain energy security, promote economic expansion, and ease international trade, oil storage terminals are essential.
- In April 2020, Brooge Energy Limited announced the MUC Oil & Gas Engineering Consultancy's appointment through its wholly-owned subsidiary, Brooge Petroleum and Gas Investment Company FZE. The consulting firm will assist in finishing the Front-End Engineering Design (FEED) research for Brogo’s Phase III oil storage terminals in Fujairah and the basic design for a refinery capable of producing 180,000 barrels per day.
- Gulf Petrochem, a company based in the United Arab Emirates, stated in January 2016 that it would be expanding its Fujairah port at a total cost of Dh 183.6 million (about $50 million). The Fujairah terminal had 412,000 cbm of storage capacity at one point. The extension has resulted in a 243,280 cubic metre (cbm) increase in storage capacity, raising the overall capacity to 655,280 cbm.
Market Opportunities and Challenges
Opportunities- The car and industrial industries in the UAE have grown tremendously in response to growing urbanisation and rising demand for a variety of end-use products. Automobile sales peaked in the last decade and have continued to rise year after year, resulting in increased acceptance of liquid petroleum. As a result, the growing automotive industry will help to drive market expansion. Furthermore, the sectors relying on crude oil products for aviation fuel and other applications have grown. The chemical industry requires certain light distillates from refineries to produce various compounds. This necessitates the construction of a certain type of storage tank terminal in accordance with the end product demand from various sectors. As a result, the rise of the chemical sector will drive market expansion.
Challenges- The growing usage of renewable fuel sources for aviation fuel and other industries that formerly used conventional fuels is one of the main market barriers for the oil storage terminals market. This has been sparked by growing concerns about the world temperature rising and carbon emission control programmes. Numerous industries that relied on fossil fuels and exacerbated global warming were forced to close as a result. Additionally, there are plans to use solar, wind, and other renewable energy sources to generate power in the UAE and many other countries across the world. The expensive cost of building the terminal and the necessary recurring maintenance is another barrier impeding progress.
Market Competitive Landscape
The market is consolidated because there are just a few players working in it. Currently, VTTI, GPS Chemoil, Brooge Energy Limited, Royal Vopak, GP Global, and Horizon Terminals dominate the market, accounting for a significant share in 2019.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Type, By Tank Type, By Product
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| Regions covered | Abu Dhabi, Dubai, Sharjah, Ajman, Umm Al-Quwain, Ras Al Khaimah, Fujairah
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| Companies Covered | VTTI, GPS Chemoil, Brooge Energy Limited, Royal Vopak, GP Global, Horizon Terminals.
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COVID-19 Impact on UAE Oil Storage Terminal Market
The COVID-19 epidemic has caused economic hardship in many industries and businesses throughout the world. The lockdown and social distancing restrictions imposed in response to the new coronavirus have devastated economic activity, interrupting supply chains, delaying projects, creating a labour shortage, and driving demand for goods and services to plummet. With a prohibition on international travel and fewer planes, global commerce activities have been paused for the time being. Several countries throughout the world regard oil and gas activities to be critical, and they have mostly been excluded from lockdown restrictions. The spread of Covid-19 is a major threat to the global oil and gas industry.
Key Target Audience:
- Oil and Gas Companies
- Logistics and Distribution Companies
- Investors and Financial Institutions
- Government and Regulatory Bodies
- Construction and Engineering Firms
- Service Providers
- End-users of Petroleum Products
- Environmental Organizations
Our in-depth analysis of the UAE Oil Storage Terminal Market includes the following segments:
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By Type:
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Strategic Reserve
Commercial Reserve
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By Tank Type:
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Fixed Roof
Floating Roof
Bullet Tank
Spherical Tank
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By Product:
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Diesel
Petrol
Aviation Fuel
Crude Oil
Kerosene
Others
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Key Topics Covered in the Report:
- UAE Oil Storage Terminal Market Size (FY’2024-FY’2033)
- Overview of UAE Oil Storage Terminal Market
- Segmentation of UAE Oil Storage Terminal Market by Type (Strategic Reserve, Commercial Reserve)
- Segmentation of UAE Oil Storage Terminal Market by Tank Type (Fixed Roof, Floating Roof, Bullet Tank, Spherical Tank)
- Segmentation of UAE Oil Storage Terminal Market by Product (Diesel, Petrol, Aviation Fuel, Crude Oil, Kerosene, Others)
- Statistical Snap of UAE Oil Storage Terminal Market
- Expansion Analysis of UAE Oil Storage Terminal Market
- Problems and Obstacles in UAE Oil Storage Terminal Market
- Competitive Landscape in the UAE Oil Storage Terminal Market
- Impact of COVID-19 and Demonetization on UAE Oil Storage Terminal Market
- Details on Current Investment in UAE Oil Storage Terminal Market
- Competitive Analysis of UAE Oil Storage Terminal Market
- Prominent Players in the UAE Oil Storage Terminal Market
- SWOT Analysis of UAE Oil Storage Terminal Market
- UAE Oil Storage Terminal Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst