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Energy Logistics Market Size, Trends, Outlook, Growth Demand, Insights, Overview 2024-2033
Energy Logistics Market Size
According to The Business Research Company's, The energy logistics market size has grown rapidly in recent years. It will grow from $402.33 billion in 2023 to $467.23 billion in 2024 at a compound annual growth rate (CAGR) of 16.1%. The growth in the historic period can be attributed to urbanization and industrialization, regulatory changes, demand for liquefied natural gas transportation, demand for energy storage solutions, energy market liberalization.
The energy logistics market size is expected to see rapid growth in the next few years. It will grow to $792.57 billion in 2028 at a compound annual growth rate (CAGR) of 14.1%. The growth in the forecast period can be attributed to growing energy consumption in emerging markets, rising global population and urbanization, increasing industrialization and economic growth, increasing adoption of electric vehicles (Evs), expanding digitalization of energy infrastructure. Major trends in the forecast period include technological advancements in transportation, expansion of renewable energy markets, Integration of IoT (Internet of Things) in energy logistics, expansion of LNG bunkering infrastructure for maritime transport, strategic partnership and collaboration.
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Market Drivers and Trends:
The growing energy consumption in emerging markets is expected to propel the growth of the energy logistics market going forward. Growing energy consumption indicates an increase in the total amount of energy used within a specific geographic area, such as a country, region, or globally. Energy logistics are used in the transportation sector for management, transportation, and distribution of energy resources, where energy is consumed for moving people and goods to support economic growth, improve living standards, and mitigate environmental impacts. For instance, in April 2023, according to a report published by the United States Energy Information Administration (EIA), a US-based statistical agency, between 2022 and 2050, residential consumption of purchased electricity is projected to rise by approximately 14% to 22%, reaching 5.9 to 6.3 quads, while electricity purchased for transportation, driven by increased adoption of electric vehicles (EVs), is expected to surge from 0.1 quads in 2022 to between 0.6 and 1.3 quads in 2050, marking a substantial 900% to 2,000% increase across all scenarios. Therefore, the rise in energy consumption in emerging markets is driving the growth of the energy logistics market.
Major companies operating in the energy logistics market are concentrating on the development of automation solution, such as the commodity transport web3 field automation solution, to meet regulatory requirements, address environmental concerns, and satisfy customer demands. The solution automates transport process, reducing manual validation, slow communication, and discrepancies. For instance, in October 2023, Blockchain for Energy (B4E), a US-based non-profit organization, launched a blockchain energy logistics solution called commodity transport web3 field automation. This solution is exclusively available through the B4E network and platform. The solution leverages blockchain smart contracts to validate sensors, GPS, and other IoT data to digitize and automate previously manual processes, and it is flexible enough to support various types of commodities and requirements in different regions.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Saudi Aramco, Sinopec Group, PetroChina Company Limited, Exxon Mobil Corporation, Royal Dutch Shell plc, TotalEnergies SE, BP plc., Chevron Corporation, Phillips 66, Gazprom PJSC, Eni S.p.A., Energy Transfer LP, Rosneft Oil Company, ConocoPhillips, CNOOC Limited, Enterprise Products Partners L.P., Qatar Petroleum, Enbridge Inc., Occidental Petroleum Corporation, Schlumberger Limited, Baker Hughes Company, Halliburton Company, Kinder Morgan, Inc., Williams Companies Inc., Transocean Ltd
Energy Logistics Market 2024 Key Insights:
• The Energy Logistics Market is expected to grow to $792.57 billion in 2028 at a compound annual growth rate (CAGR) of 14.1%.
• Emerging Markets Fueling Growth in Energy Logistics Market
• Blockchain-Powered Energy Logistics Solution Revolutionizes Industry
• Asia-Pacific was the largest region in the energy logistics market in 2023. The regions covered in the energy logistics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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