Asia projected to lead global liquids storage capacity additions through 2030, GlobalData finds
Asia is on track to claim the largest share of global liquids storage capacity additions between 2026 and 2030, according to new analysis from GlobalData. The region is also projected to host more upcoming liquids storage projects than any other part of the world.
Driving that growth is a broad pipeline of new-build and expansion projects spanning refinery terminals, strategic petroleum reserves, and port terminals — with China and India at the center of the build-out.
Asia to lead global liquids storage growth through 2030
GlobalData’s analysis puts Asia clearly out front for liquids storage capacity additions over the next several years. No other region is expected to match its volume of new capacity or its sheer number of projects in development — and leading on both counts simultaneously says a lot about how significant this regional build-out has become.
Multiple SPR projects advancing simultaneously signals that India is treating reserve development as a genuine infrastructure priority, not just a policy aspiration.
The growth reflects sustained investment in storage infrastructure built to handle rising volumes of crude oil and refined products. As Asian economies expand, reliable large-scale storage becomes essential to keeping supply chains moving. Refinery terminals, strategic petroleum reserves, and port terminals are all part of that equation.
New-build projects are expected to carry most of the weight, but expansion activity at existing facilities is playing a real role too — adding incremental capacity without requiring entirely new sites. Those two tracks combined are expected to push Asia’s total additions well ahead of every other global region by 2030.
Key drivers behind the regional storage build-out
The motivations behind Asia’s storage expansion vary by country and project type, though several themes run consistently through the region’s pipeline: supply security, trade growth, and strategic reserve development.
Supply security is a core concern for many Asian governments. Building out domestic storage capacity reduces exposure to global supply disruptions and gives countries more flexibility to manage import timing and volume. That logic applies whether a country is storing crude for refining or holding refined products closer to end markets.
Strategic petroleum reserve development is a particularly strong driver in India. SPR projects give governments a buffer against sudden supply shocks — a priority that’s grown more pressing given recent energy market volatility. India’s SPR pipeline reflects a deliberate policy push to strengthen national energy resilience.
In China, large-capacity refinery terminal projects are the primary engine of new-build activity. These aren’t small upgrades — they’re substantial facilities built to support major refining operations. Expansion projects at existing sites are also contributing, producing a pipeline that spans both greenfield development and brownfield growth.
China and India lead Asia’s project pipeline
When you look at where Asia’s capacity additions are actually coming from, two countries dominate. China and India together account for the largest share of the region’s projected volume additions, and their pipelines reflect distinct but complementary priorities.
In China, the headline projects are the Zhoushan V Expansion and the Ningbo V terminal. The Zhoushan V is a refinery terminal expansion, adding capacity to an already significant storage hub, while the Ningbo V is a port terminal project reflecting China’s continued investment in trade-supporting infrastructure. Both are large-scale and aligned with China’s broader ambitions in refining and petrochemical processing.
India’s pipeline looks different. The major upcoming projects — located at Bikaner, Chandikhol, and Rajkot — are SPR-type developments. These aren’t commercial storage plays; they’re strategic assets meant to bolster national energy security. Multiple SPR projects advancing simultaneously signals that India is treating reserve development as a genuine infrastructure priority, not just a policy aspiration.
Both countries are also investing in storage to support their refining infrastructure more broadly. As refining capacity grows, so does the need for upstream and downstream storage — crude coming in, products going out. That dynamic reinforces their position at the top of Asia’s project rankings.
Project development stages and likelihood of completion by 2030
One of the more telling details in GlobalData’s analysis is where Asia’s projects currently stand in the development cycle. Roughly half of the region’s liquids storage projects are already under construction — a significant share that matters considerably for delivery timeline confidence.
Projects under construction carry far less execution risk than those still in planning or approval stages. With half the pipeline already breaking ground, a substantial portion of Asia’s projected capacity additions are on a credible path to completion before 2030. The remaining projects introduce more uncertainty, but they still represent meaningful potential additions if they advance on schedule.
The mix of new facilities and expansions at existing assets is also worth noting. Expansions tend to move faster than entirely new builds since the underlying infrastructure is already in place, which could help Asia’s overall delivery rate stay on track even if some new-build projects hit delays.
Half of the regional project pipeline is already under construction
GlobalData’s findings point to a clear, well-supported trend: Asia is set to outpace every other region in liquids storage capacity additions between 2026 and 2030. China and India are driving the bulk of that growth through large refinery terminal projects, port terminal developments, and strategic petroleum reserve investments. With roughly half of the regional project pipeline already under construction, the probability of realizing those additions before the end of the decade is meaningfully higher than it might otherwise appear. For anyone tracking global energy infrastructure, Asia’s storage build-out is one of the more consequential developments currently underway.
Kelly is an experienced writer with 15 years of experience exploring the big stories that shape our world, from tech breakthroughs and space exploration to climate, energy, and the fascinating quirks of science. She has a talent for turning complex ideas into sharp, memorable insights that stay with readers long after they’ve finished reading.
