What Is The Overview Of The Global Retail Oil And Gas Logistics Market?
Retail oil and gas logistics refers to the specialized processes in managing the supply chain for petroleum products from refineries or distribution centers to retail outlets such as gas stations. It encompasses the planning, implementing, and controlling of the efficient and cost-effective flow and storage of petroleum products, ensuring they reach their intended destinations promptly.
Retail Oil And Gas Logistics Global Market Report 2024 provides data on the global retail oil and gas logistics market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The retail oil and gas logistics market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Expected Annual Growth Rates And Market Size Estimates For The Global Retail Oil And Gas Logistics Sector?
The retail oil and gas logistics market has grown strongly in recent years. It is expected to increase from $1.04 billion in 2023 to $1.11 billion in 2024 at a CAGR of 6.8%. The growth is driven by increased oil and gas exploration and production activities, a rise in the number of automobiles, greater demand for energy products like gasoline, diesel, and liquefied petroleum gas (LPG), the adoption of electric vehicles (EVs), and urbanization and industrialization. The market is expected to continue growing, reaching $1.46 billion by 2028 at a CAGR of 7.1%. The growth in the forecast period is driven by the rising demand for contract logistics services, the shift from over-the-road to intermodal transportation, increased need for efficient logistics services, greater demand for energy products, and rising infrastructure investments. Key trends include technological advancements, a focus on sustainability, integration of online and offline channels, telematics technology, and the adoption of AI, IoT, and data analytics.
Which Factors Are Boosting Growth In The Retail Oil And Gas Logistics Market?
The increasing demand for oil and natural gas is expected to boost the retail oil and gas logistics market. These energy resources are essential for various economic activities, with demand rising due to economic growth, weather patterns, and fuel switching. Retail oil and gas logistics ensure efficient transportation and distribution to meet consumer needs. For instance, in 2022, the U.K. saw a 16.4% increase in oil production, reaching 38.2 million tonnes, as reported by BDO LLP. This rising energy demand is driving the logistics market's growth.
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What Key Areas Define The Segmentation Of The Global Retail Oil And Gas Logistics Market?
The retail oil and gas logistics market covered in this report is segmented –
1) By Type: Upstream, Midstream, Downstream
2) By Operator: Private, Public
3) By License Type: Company Owned Company Operated, Company Owned Dealer Operated, Dealer Owned Dealer Operated
4) By Transportation Type: Railroad Transportation, Tanker Trucks Transportation
5) By Application: Offshore, Onshore
How Are Emerging Trends Reshaping The Dynamics Of The Retail Oil And Gas Logistics Market?
Companies in the retail oil and gas logistics market are significantly investing in sustainable logistics solutions and enhancing their operations to reduce carbon emissions. These investments aim to improve environmental performance and support the transition to clean fuels. For instance, Deutsche Post AG, a Germany-based supply chain management company, announced plans in November 2023 to invest over $218.61 million (€200 million) to decarbonize its global logistics operations. The company is focusing on expanding the use of alternative fuels, implementing energy efficiency measures, and supporting sustainable logistics research and development, all contributing to its goal of achieving net-zero emissions by 2050.
Which Region Has The Fastest Expansion In The Retail Oil And Gas Logistics Market?
Asia-Pacific was the largest region in the retail oil and gas logistics market in 2023. The regions covered in the retail oil and gas logistics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
