India is expected to lead the liquids storage capacity growth in Asia, contributing about 23% of the total capacity growth between 2022-26. The country is likely to add 23.9 million cubic meters (mmcm) of liquids storage capacity by 2026, forecasts GlobalData, a leading data and analytics company. GlobalData’s report, ‘Global Liquids Storage Industry Outlook to .
China to account half of Asia’s liquids storage capacity growth by 2025, says GlobalData
China is expected to dominate the liquids storage capacity growth in Asia, contributing about 50% of the total capacity growth between 2021-25. It is likely to add 49.4 million cubic meters (mmcm) of liquids storage capacity by 2025, says GlobalData, a leading data and analytics company.
GlobalData’s report, ‘Global Liquids Storage Industry Outlook to 2025 – Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Terminals’, reveals that Asia’s liquids storage capacity is expected to increase by 98.1 mmcm during 2021-2025. Out of the total capacity additions, 61.3 mmcm is likely to come from new build projects, and expansions of active projects contribute to the rest.