Specialized Storage & Warehousing in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: August 2024
NAICS 49319Revenue
$9.5bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
64,333
Businesses
1,469
Wages
$X.Xbn
Specialized Storage & Warehousing in the US industry analysis
Specialized storage and warehousing has experienced significant volatility due to fluctuations in commodity prices of oil and lumber. Demand for bulk petroleum storage rose as oil prices dropped, leading suppliers to stockpile reserves instead of selling at discounted rates. Geopolitical conflicts further exacerbated market instability, affecting the performance of storage providers. In addition, robust construction activity drove steady lumber demand, although price volatility caused by geopolitical tensions led to fluctuations in storage patterns. Meanwhile, document storage continued to provide steady revenue, driven by regulatory requirements and digital document management trends. The industry has increasingly adopted technology to optimize operations and improve efficiency, with cloud solutions playing a crucial role in inventory management and safety monitoring. Revenue has been growing at a CAGR of 0.7% over the past five years, including a boost of 2.8% in the current year, and is expected to reach $9.5 billion in 2024.
Trends and Insights
- Volatility in the energy markets is causing instability. Geopolitical conflicts drive unpredictable trends, making it difficult for businesses to manage their stockpiles effectively.
- Volatility in the energy markets moderates the performance of petroleum storage. Inventory levels fluctuate, as high prices put pressure on inventories and low prices cause them to surge, impacting third-party storage demand.
- The Southeast is a major logistics region driven by its economic growth and strategic geographic location. Its access to major ports and highways enhances distribution and warehousing.
- The specialized storage and warehousing industry sees a higher concentration in bulk petroleum storage due to its capital-intensive nature and strict regulatory requirements. Established operators drive out smaller competitors, often through mergers and acquisitions.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 0.7 % over the past five years, to reach an estimated $9.5bn in 2024.
Trends and Insights
The volatility in the energy markets is prompting uncertainty in petroleum storage
- The recent upswing in demand for bulk petroleum storage peaked in 2020 as the COVID-19 pandemic drove down oil prices, causing suppliers to stockpile their reserves into storage rather than flood the market with discounted oil barrels.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Rising oil and natural gas production is set to benefit petroleum tank storage providers
- Oil and natural gas prices are expected to drop, while the production of both is anticipated to accelerate. As economic conditions stabilize and the economy returns to steady growth amid the expected looser monetary policy and a clearer outlook, specialized storage operators are set to benefit.
Biggest companies in the Specialized Storage & Warehousing in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Iron Mountain Inc. | 1,809.7 | 488.0 | 27.0 | |
Kinder Morgan, Inc. | 1,668.0 | 531.1 | 31.8 | |
Apex Oil Company, Inc. | 353.0 | 53.0 | 15.0 |
To view the market share and analysis for all 14 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Bulk petroleum and chemical storage, Document storage and warehousing and Whiskey warehousing. Bulk petroleum and chemical storage is the largest segment of the Specialized Storage & Warehousing in the US.
Trends and Insights
The volatility in the energy markets is pressuring the bulk petroleum and chemical storage
- Bulk petroleum and chemical storage is the most significant product offered. Most of this product segment is devoted to petroleum, mainly crude oil, and fuel storage located near coastal ports and regional terminals that help facilitate the distribution of the commodities.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Farm Product Storage & Warehousing in the US
- Storage & Warehouse Leasing in the US
Complementors
- General Warehousing & Storage in the US
- Refrigerated Storage in the US
- Waste Treatment & Disposal Services in the US
International industries
- General Warehousing & Storage in Canada
- General Warehousing and Cold Storage in Australia
- Warehousing and Storage Services in New Zealand
- Warehousing & Storage in the UK
- Document Management Services in the UK
Table of Contents
About this industry
Industry definition
Companies in the Specialized Storage and Warehousing industry primarily operate specialized warehousing and storage facilities. This doesn't include general merchandise, refrigerated and farm product warehousing or storage.
What's included in this industry?
Operating automobile dead storageOperating bulk petroleum storageOperating chemical storage terminalsOperating lumber storage terminalsWarehousing whiskey Other warehousing and storage operationCompanies
Iron Mountain Inc.Kinder Morgan, Inc.Apex Oil Company, Inc.Purchase this report to view all 14 major companies in this industry.
Related Terms
TANK FARMDISTILLATEAUTOMOBILE DEAD STORAGECRUDE STOCKSIndustry Code
NAICS 49319 - Specialized Storage & Warehousing in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Volatility in the energy markets is causing instability. Geopolitical conflicts drive unpredictable trends, making it difficult for businesses to manage their stockpiles effe...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Volatility in the energy markets moderates the performance of petroleum storage. Inventory levels fluctuate, as high prices put pressure on inventories and low prices cause t...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
The Southeast is a major logistics region driven by its economic growth and strategic geographic location. Its access to major ports and highways enhances distribution and wa...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
The specialized storage and warehousing industry sees a higher concentration in bulk petroleum storage due to its capital-intensive nature and strict regulatory requirements. ...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Iron Mountain holds the largest share of specialized storage and warehousing. The company handles records, data and documents like many smaller industry participants.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Iron Mountain Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Kinder Morgan, Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Apex Oil Company, Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 11 additional companies
Detailed analysis
- Description and key data for Iron Mountain Inc., and factors influencing its performance in the industry
- Description and key data for Kinder Morgan, Inc., and factors influencing its performance in the industry
- Description and key data for Apex Oil Company, Inc., and factors influencing its performance in the industry
- Description, key data and performance trends for 11 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Petroleum storage faces the most strict regulatory oversight. Storage tanks that store natural gas or petroleum are subject to many regulations. They require extensive sensor...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
The necessity for high-skill labor drivers labor costs. The subsequent wage hike, especially in the petroleum storage segment, pressures profit across the industry despite re...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Specialized Storage & Warehousing in the US industry in United States in 2024?
The market size of the Specialized Storage & Warehousing in the US industry in United States is $9.5bn in 2024.
How many businesses are there in the Specialized Storage & Warehousing in the US industry in 2024?
There are 1,469 businesses in the Specialized Storage & Warehousing in the US industry in United States, which has grown at a CAGR of 1.2 % between 2019 and 2024.
Has the Specialized Storage & Warehousing in the US industry in United States grown or declined over the past 5 years?
The market size of the Specialized Storage & Warehousing in the US industry in United States has been growing at a CAGR of 0.7 % between 2019 and 2024.
What is the forecast growth of the Specialized Storage & Warehousing in the US industry in United States over the next 5 years?
Over the next five years, the Specialized Storage & Warehousing in the US industry in United States is expected to grow.
What are the biggest companies in the Specialized Storage & Warehousing in the US market in United States?
The biggest companies operating in the Specialized Storage & Warehousing market in United States are Iron Mountain Inc., Kinder Morgan, Inc. and Apex Oil Company, Inc.
What does the Specialized Storage & Warehousing in the US in United States include?
Operating automobile dead storage and Operating bulk petroleum storage are part of the Specialized Storage & Warehousing in the US industry.
Which companies have the highest market share in the Specialized Storage & Warehousing in the US in United States?
The company holding the most market share in United States is Iron Mountain Inc..
How competitive is the Specialized Storage & Warehousing in the US industry in United States?
The level of competition is moderate and steady in the Specialized Storage & Warehousing in the US industry in United States.
