Technavio
market analysts forecast the global
oil and gas transportation market to grow at a CAGR of nearly 7%
during the period 2018-2022, in their latest market research report.
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Technavio has published a new market research report on the global oil and gas transportation market from 2018-2022. (Graphic: Business Wire)
One of the major trends being witnessed in the market is the emerging
advanced oil and gas pipeline transportation monitoring technologies.
The pipeline system is usually used for the transportation of oil and
gas. The pipeline transportation system for oil and gas avoids fatal
accidents as oil and gas are hazardous in nature. This is the major
concern for oil and gas companies. Owing to improved technologies, many
new monitoring systems are being used in the oil and gas pipeline
transportation system to ensure the safety of pipelines as well as
people working on these pipelines.
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In this report, Technavio analysts highlight the rising contract
logistics in the oil and gas industry as a major factor contributing to
the growth of the global oil
and gas transportation market:
Rising contract logistics in the oil and gas
industry
The logistics functions of companies in the oil and gas sector are
handled in-house to have complete control over the business. But, with
the business landscape becoming increasingly complex and competitive,
companies are shifting their focus toward their core businesses.
Logistics can consume a considerable amount of time and resources,
encouraging companies to outsource logistics services. This has
increased the demand for contract logistics services. Furthermore, the
outsourcing of logistics services allows customers to leverage the
expertise of contract logistics providers.
According to a senior analyst at Technavio for transportation
and distribution, “The increase in contract logistics
services has improved the supply chain performance of the oil and gas
industry. Furthermore, contract logistics also reduce the lead time
between the order and delivery. Also, information management has become
easy and gives a clear picture of costs and the transportation status.
These improvements in outsourced logistics have made it easy for oil and
gas companies to focus on their core businesses. Thus, the increased
demand for outsourced logistics services is contributing significantly
to the revenue of the global oil and gas transportation market.”
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Oil and gas transportation - market segmentation
This market research report has segmented the global oil
and gas transportation market based on mode of transportation
(pipelines, railroads, and tankers and trucks) and key regions (the
Americas, APAC, and EMEA). It provides a comprehensive analysis of the
prominent factors influencing the market, including drivers,
opportunities, trends, and industry-specific challenges.
The Americas led the global oil and gas transportation market in 2017 by
contributing to a market share of more than 37%. It will continue to
dominate the global market throughout the forecast period. The market
share of this region is anticipated to increase by nearly 1.5% by 2022.
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