Tools commonly used in the Oil Storage industry for day-to-day tasks and operations.

• Tank gauging systems
• Flow meters
• Pressure sensors
• Level sensors
• Sampling equipment
• Leak detection systems
• Fire suppression systems
• Pumps and valves
• Heating and cooling systems
• Cathodic protection systems

Common products and services typical of NAICS Code 493190-07, illustrating the main business activities and contributions to the market.

• Crude oil storage
• Petroleum product storage
• Chemical storage
• Biofuel storage
• Liquid natural gas (LNG) storage
• Liquid propane gas (LPG) storage
• Aviation fuel storage
• Marine fuel storage
• Asphalt storage
• Ethanol storage

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

• API 653: This certification is required for individuals who inspect aboveground storage tanks. The certification is provided by the American Petroleum Institute (API).
• OSHA 29 CFR 1910.119: This regulation is known as the Process Safety Management of Highly Hazardous Chemicals standard. It requires facilities that store hazardous chemicals to have a management system in place to prevent accidents. The regulation is enforced by the Occupational Safety and Health Administration (OSHA).
• SPCC Plan: The Spill Prevention, Control, and Countermeasure (SPCC) plan is required for facilities that store oil or other hazardous substances. The plan outlines procedures for preventing and responding to spills. The plan is enforced by the Environmental Protection Agency (EPA).
• DOT Hazardous Materials Transportation Certification: This certification is required for individuals who transport hazardous materials. The certification is provided by the Department of Transportation (DOT).
• NFPA 30: Flammable and Combustible Liquids Code: This code provides guidelines for the storage, handling, and use of flammable and combustible liquids. The code is enforced by the National Fire Protection Association (NFPA).

A concise historical narrative of NAICS Code 493190-07 covering global milestones and recent developments within the United States.

• The oil storage industry has been around since the early days of the oil industry in the mid-19th century. The first oil storage tanks were made of wood and built near oil wells to store crude oil before it was transported to refineries. In the early 20th century, steel tanks replaced wooden ones, and the industry grew as oil production increased. During World War II, the industry played a crucial role in supplying fuel to the military. In recent history, the oil storage industry has faced challenges due to fluctuations in oil prices and oversupply. In 2014, the industry faced a crisis when oil prices dropped, and storage facilities reached their maximum capacity. This led to a decline in demand for storage services and a decrease in revenue for the industry. However, the industry has since recovered, and the demand for oil storage services has increased due to the growth of the oil and gas industry in the United States.

The anticipated future trajectory of the NAICS 493190-07 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

• Growth Prediction: Stable

  The oil storage industry in the USA is expected to grow in the coming years due to the increasing demand for oil and gas. The industry is expected to benefit from the growth of the oil and gas industry, which is driven by the increasing demand for energy. The industry is also expected to benefit from the increasing use of renewable energy sources, which will require storage facilities for excess energy. However, the industry is also facing challenges such as environmental concerns and the increasing competition from other energy sources. Overall, the industry is expected to grow steadily in the coming years, driven by the increasing demand for energy and the need for storage facilities.

Recent groundbreaking advancements and milestones in the Oil Storage industry, reflecting notable innovations that have reshaped its landscape.

• Automation Of Oil Storage Facilities: Automation of oil storage facilities has become a recent trend in the industry. Automation helps in reducing the risk of accidents and improves the efficiency of the storage facilities.
• Use Of Iot In Oil Storage: The use of IoT in oil storage facilities has become popular in recent years. IoT sensors are used to monitor the temperature, pressure, and other parameters of the storage tanks, which helps in preventing accidents and improving the efficiency of the storage facilities.
• Use Of Renewable Energy Sources: Some oil storage facilities are now using renewable energy sources such as solar and wind power to reduce their carbon footprint and improve their sustainability.
• Expansion Of Storage Facilities: Many companies are expanding their oil storage facilities to meet the increasing demand for oil and gas. This expansion is expected to continue in the coming years.
• Use Of Advanced Materials: The use of advanced materials such as composites and nanomaterials in oil storage tanks is becoming popular. These materials offer better resistance to corrosion and other forms of damage, which helps in improving the lifespan of the storage tanks.