Global Oil Storage Market Set to Surge 35% by 2029 as Asia-Pacific Leads Growth

Dublin, Wednesday, 20 November 2024.
The oil storage sector is poised for remarkable expansion, projected to reach USD 18.06 billion by 2029, up from USD 13.34 billion in 2023. Asia-Pacific emerges as the powerhouse, driven by strategic investments from China and India. The Strait of Malacca’s critical role in global oil transportation underscores the region’s dominance, while environmental sustainability shapes future development.