May 22, 2018 - 7:03 AM EDT
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Global Retail Oil and Gas Logistics Market to Witness an Increase in Use of Blockchain Technology Through 2022| Technavio

LONDON

Technavio market research analysts forecast the global retail oil and gas logistics market to grow at a CAGR of close to 7% during the period 2018-2022. The growing use of blockchain technology in oil and gas transportation is a key trend, which is expected to impact the growth of the market. A blockchain is a database which records all digital events and prevents them from being tampered. Although many users can access the data, they cannot delete or alter the information. Blockchain removes the need for a central authority to maintain records and helps to make supply chain processes efficient and cost-effective.

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Technavio has published a new market research report on the global retail oil and gas logistics mark ...

Technavio has published a new market research report on the global retail oil and gas logistics market from 2018-2022. (Graphic: Business Wire)

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In this report, Technavio researchers identify the shifting of freight from over-the-road to intermodal transportation as one of the key factors contributing to the growth of the global retail oil and gas logistics market:

Shifting of freight from over-the-road to intermodal transportation

Oil and gas firms require specialized supply chains for reliable storage and transportation of petroleum products. The intermodal transportation network is operated with high precision for a seamless flow of petroleum. The combination of railroad and tanker trucks is one of the most commonly used modes of transportation in the market.

According to a senior analyst at Technavio for transportation and distribution research, “Tanker trucks and railroad tankers can also be connected to single-hull and double-hull tanker ships for the transportation of oil and gas products. After reaching the destination, the freight is distributed to the final destination such as retail outlets via trucks ensuring a smooth and systematic operation.”

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Global retail oil and gas logistics market - segmentation and analysis

This market research report segments the global retail oil and gas logistics market based on transportation type (railroad transportation and tanker trucks transportation) and key regions (Americas, APAC, and EMEA).

In 2017, Americas led the global retail oil and gas logistics market with a share of more than 37%, followed by EMEA and APAC respectively. The Americas is expected to witness an increase in its market share over the forecast period while APAC will see a decline in its share by 2022.

 

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Source: Business Wire (May 22, 2018 - 7:03 AM EDT)

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