Latest News- Retail Oil And Gas Logistics Market: Railroad transportation is expected to lead the Mode Of Transportation segment during 2024-2028

The Retail Oil And Gas Logistics Market is being driven by Rise in number of automobiles on roads

The Retail Oil And Gas Logistics Market is expected to grow at a CAGR of 7.1% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1200.7 million. The retail oil and gas logistics market is experiencing significant growth due to the increasing global demand for oil and natural gas. As economies recover from the economic downturn caused by the COVID-19 pandemic, there is a surge in industrial activity and consumer consumption, leading to heightened energy requirements. This trend is particularly prevalent in emerging markets, where urbanization and population growth fuel the demand for fossil fuels in transportation, heating, and electricity generation. Furthermore, the transition towards cleaner energy sources does not diminish the necessity of oil and natural gas. Instead, these resources are anticipated to serve a pivotal role during the energy transition, acting as a bridge to more sustainable alternatives. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Mode Of Transportation
  • Railroad transportation
  • Tanker trucks transportation
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
  • APAC
    • China
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rise in number of automobiles on roads
• Rising urbanization and industrialization
• Shifting freight from over-the-road to intermodal transportation

However, the market also witnesses some limitations, which are as follows:

• Logistics planning and supply chain issues for fuel retailers
• Spill and leakage issues during oil and gas transportation
• Surge in cost of services for retail oil and gas logistics

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Market Scope in Retail Oil And Gas Logistics Market Research Report

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Research Analysis Overview

The Retail Oil and Gas Logistics Market encompasses various aspects of the oil and gas industry, including crude oil transportation via pipelines and gas pipeline monitoring for safety and efficiency. Refined product logistics involve optimization of oil storage and fuel distribution networks, as well as hazardous waste disposal. Other key areas include petroleum product handling, logistics cost reduction through supply chain resilience and risk mitigation strategies. Environmental impact assessments, safety training programs, and compliance reporting systems are essential for regulatory compliance. Incident management, storage tank maintenance, fuel quality testing, production planning tools, and pipeline integrity assessment are crucial for operational excellence. Terminal operations management, liquid cargo handling, vehicle routing algorithms, inventory control systems, distribution center optimization, fuel consumption monitoring, regulatory compliance audits, and data analytics dashboards are additional components of this market.

Market Research Overview

In the retail oil and gas logistics sector, pipeline integrity management, tank farm optimization, logistics network design, supply chain visibility, and fuel delivery scheduling are pivotal business functions. These elements ensure the efficient and secure transportation of petroleum products from producers to consumers. The global market for retail oil and gas logistics encompasses revenue generated by companies offering services in these areas. According to Technavio, market size is determined by the earnings of providers in pipeline maintenance, tank farm management, logistics network optimization, and fuel delivery scheduling. Key growth drivers include the increasing demand for cross-border trade in the oil and gas industry and the optimization of supply chain operations through advanced technologies.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Website: www.technavio.com/