GlobalData’s latest report, ‘Global Liquids Storage Newbuild and Expansion Projects Outlook to 2026’, indicates a total of 268 upcoming liquids storage projects are expected to start operations during the 2022 to 2026 outlook period. Of these, 183 represent newbuild projects and 85 are expansions of existing projects.
Globally, about 142 upcoming projects in the liquids storage sector are in the construction stage and are likely to start operations from 2022 to 2026. Feasibility and approval are the other major project stages, with 68 and 45, respectively.
Asia leads globally with the highest number of liquids storage projects (111) by 2026. North America stands second with 50, followed by Africa with 36 projects.
Among countries, India leads with the highest projects (44) during the outlook period. The US and China account for 32 and 20 projects, respectively.