Asia Pacific accounts for 34.5% of global oil and gas storage and transportation revenue in 2025, or USD 23.46 billion, and its share keeps rising to 39% by 2034, when its revenue reaches USD 39.16 billion. Contrive Datum Insights reports the finding in "Oil And Gas Storage And Transportation Market Size, Share & Industry Analysis," a study covering 2026 to 2034 across five segmentation axes and five regions.
Regional Picture
The global market is valued at USD 68 billion in 2025 and is projected to grow from USD 71.2 billion in 2026 to USD 100.4 billion by 2034, a compound annual growth rate of 4.39%. Asia Pacific's climbing share means it is expanding faster than that headline rate. Its revenue grows from USD 23.46 billion to USD 39.16 billion over the period.
Latin America sits at the other end of the table. It is the smallest region throughout, at 9.64% of 2025 revenue and 9% by 2034, so its slice narrows slightly even as the market grows. Among individual countries, the United States is the largest single market at USD 13.22 billion in 2025, or 19.44% of global revenue. The study breaks out all five regions to country level.
The market itself spans the tanks, pipelines, marine vessels, terminals and instrumentation that hold and move crude oil, refined petroleum products, natural gas and liquefied natural gas. Buyers include producers, midstream operators, refiners, utilities and government strategic reserve agencies.
Segments and the Risk to the Lead
By type, Pipe Lines is the largest line, with 42.57% of 2025 revenue at USD 28.95 billion, yet it grows at only 3.67%. Control & Instrumentation - Oil & Gas moves fastest at 6.52%, lifting its share of revenue from 19.15% to 23% and its value from USD 13.02 billion to USD 23.09 billion. The study ties that speed to rising global crude and refined product trade volumes, which it rates as the largest single contributor to growth.
The other axes show the same pairing of a dominant incumbent and a quicker challenger:
- Application: Crude Oil leads with 45% of 2025 revenue at USD 30.6 billion, while Liquefied Natural Gas grows fastest at 10.53%.
- Storage type: Aboveground Storage Tanks hold 62% at USD 42.16 billion, and Floating Storage grows fastest at 7.05%.
- Mode of transportation: Pipeline takes 55% at USD 37.4 billion, with Rail & Road Tankers growing fastest at 5.29%.
- End user: National Oil Companies (NOCs) account for 48% at USD 32.64 billion, while Utilities & Distribution Companies grow fastest at 5.89%.
Asia Pacific's lead depends on the base case holding. The study's bear case assumes an accelerated shift toward electrification and alternative fuels that compresses refined-product and crude storage demand, while permitting delays slow new pipeline and terminal capacity. Under those conditions 2034 revenue stops at USD 93.87 billion. The bull case, built on faster LNG terminal buildout and sustained seaborne trade with no major disruption to pipeline capital spending, reaches USD 106.93 billion. A region expected to carry 39% of the total has the most at stake in which of the three paths plays out.
The study reports every year from 2020 to 2034, with revenue and growth for each line, and includes the competitive landscape and the method behind each estimate. It is available as a PDF, with a free sample on request.