Oil and gas logistics refers to the transportation of crude oil, gas & equipment to far off places. The global supply chain with which oil and gas industry operates includes shipping, ordering, trading, transport, material handling, etc. The transportation or supply is a systematic process from producing the crude oil and natural gas, to handling the storage process, to refineries and outlets.
The breakthrough of internet of things, blockchain & cloud system and the technologies being leveraged improves the operational efficiency of whole supply chain while reducing the costs is one of many growth factors for the global oil and logistics market. The arrival of shale oil boom has introduced opportunities of transportation of oil and gas through rail roads and has created a huge demand for railroads to carry crude oil. In fact, railways have become the most go to way of transportation as it is cheaper and fast as compared to trucks. Furthermore, contract-based logistics service is also growing in demand owing to expectation of advanced technologies from them and their claim of providing more specialized services. Other than that, growing applications in industrial and commercial sector with rise in demand for petroleum products is a key growth prospect. However, spill and leakage issues during transportation may trigger loss and can create hindrance in the market.
The global oil and gas logistics market is separated on the basis of product type, application, and region. Based on product type, the market is categorized into upstream, midstream and downstream. The application type segment consists of offshore and onshore.
North America is expected to hold the dominating share across the global oil and gas logistics market. Increasing expenditure by oil & gas companies and government policies favouring the industries in the region are contributing towards market growth. Availability of large number of oil and gas reserves in the US and financial support given to the country makes it the leading distributor and thus, contributor to market growth. Furthermore, Saudi Arabia in the Middle East is the largest producer of crude oil and is expected to remain as such in the upcoming years too producing 10.25 million barrels/day.
Some of the key players in the global oil and gas logistics market include ASCO, Bollore Africa Logistics, SDV International Logistics, SGS Logistics, A.Hartrodt, Neovia Logistics, Crown Logistics, DB Schenker, BDP, Kuehne + Nagel, Agility Project Logistics, Gulf Agency, Ryder Systems, Panalpina, GAC Logistics, Expeditors International of Washington, CH Robinson, and CEVA Logistics. To cite, in August 2021, Indian Oil has launched an app-based door step diesel service in Mumbai, India, with Okara Fuelogics and Humsafar, India.
Get Sample of this Research Report – https://www.syndicatemarketresearch.com/sample/oil-and-gas-logistics-market
