Press release
Oil and Gas Logistics Market Expected To Experience The Highest Growth In The Upcoming Future
The raising offshore oil and gas exploration and production activities is one of the primary growth drivers for this market. Exploration and production (E&P) activity is an upstream process in the oil and gas industry, and includes procedures such as locating oil rigs, searching for oil and petrochemical products, underwater drilling for natural gas and crude oil fields, and operating subsea vessels. Mounting production activities in APAC have boosted the necessity for outsourced logistics, leading to the entry of several new players in the market. The competition in this market is dependent on the basis of price, delivery speed, reliability, and supply chain capacity. Moreover, the improvements in logistics processes through the incorporation of IT will help vendors increase efficiency and effectiveness during the forecast years.
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The exploration of several new shale oil fields and subsequent increase in the E&P expenditure of oil and gas production companies will result in a robust demand for logistics services. Besides transporting offshore minerals and energy resources, the marine sea vessels also perform marine logistics services, while the increase in number of offshore oil rigs will also augment the growth prospects for this market.
The global oil and gas logistics market can be segmented on the basis of type and region. On the basis of transportation type, the global oil and gas logistics market can be segmented into pipeline, railroads and tanker & trucks. On the basis of region, the global oil and gas logistics market can be segmented into North America, Europe, Middle East & Africa, Asia-Pacific, and Latin America.
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Some of the key players in the Global Oil and Gas Logistics Market include A. Hartrodt GmbH, Agility Project Logistics Inc., BDP International, Bollore Africa Logistics Ltd., Crown Logistics, DB Schenker, Gulf Agency Company Ltd., Kuehne + Nagel Company, Neovia Logistics, SDV International Logistics and SGS Logistics.
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