Global Retail Oil and Gas Logistics Market to Witness an Increase in Use of Blockchain Technology Through 2022| Technavio

LONDON–(BUSINESS WIRE)–#Distribution—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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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, ÔÇ£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.ÔÇØ

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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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