Selbyville, Delaware, Dec. 11, 2024 (GLOBE NEWSWIRE) --
The crude oil transportation market valuation is predicted to reach USD 112.5 billion by 2032, reported in a research analysis by Global Market Insights Inc.
Increasing demand for reliable energy sources, especially crude oil, is critical in supporting industrialization, urbanization, and economic expansion worldwide. As energy needs surge in regions like Asia-Pacific, Latin America, and Africa, efficient and large-scale transportation solutions have become essential to meet the energy supply requirements of growing industrial, transportation, and infrastructure sectors. Investments in pipeline networks, rail systems, and marine tankers are ramping up to sustain supply chains, ensuring the steady flow of oil to refineries and distribution centers over vast distances.
New oil discoveries and the expansion of existing production sites are further fueling growth in the crude oil transportation market. These developments increase the demand for scalable and efficient transportation solutions to move crude oil from remote or offshore production sites to refineries and export hubs. To meet this growing demand, companies invest in specialized infrastructure, such as pipelines, railways, and marine fleets, to support higher transport volumes and prevent logistical bottlenecks. This expansion helps transportation companies optimize operations, improve logistical efficiency, and strengthen overall supply chains, benefitting the market’s long-term growth.
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The crude oil transportation market from pipeline segment, accounting for over 65% of the market in 2023, is set to surpass USD 75 billion by 2032. Pipelines dominate due to their efficiency, capacity, and cost-effectiveness for high-volume, continuous-flow transport, particularly over long distances. Additionally, pipelines are viewed as safer and more environmentally friendly, with fewer spill risks compared to other modes. Increased infrastructure investments in key oil-producing regions reinforce the pipeline’s role as a mainstay of crude oil logistics, ensuring consistent, reliable delivery to refineries and distribution points.
In transportation destinations, the international segment led with a 55% market share in 2023, driven by global oil demand and regional production imbalances. High import needs in industrialized and emerging economies maintain a strong demand for international transportation, which remains essential in the worldwide oil supply chain.
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Regionally, North America led with over 35% of the crude oil transportation market share in 2023, with the U.S. dominating due to its vast pipeline network and export capacity. Europe relies heavily on marine and pipeline imports, highlighting its dependence on global oil sources and its role as a critical hub for refining and distribution across the region.
Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Research design
1.1.1 Research approach
1.1.2 Data collection methods
1.2 Base estimates and calculations
1.2.1 Base year calculation
1.2.2 Key trends for market estimates
1.3 Forecast model
1.4 Primary research & validation
1.4.1 Primary sources
1.4.2 Data mining sources
1.5 Market definitions
Chapter 2 Executive Summary
2.1 Industry 3600 synopsis, 2021 - 2032
Chapter 3 Crude Oil Transportation Market Insights
3.1 Industry ecosystem analysis
3.2 Supplier landscape
3.2.1 Oil producers
3.2.2 Pipeline companies
3.2.3 Maritime shipping companies
3.2.4 Rail companies
3.2.5 Refineries
3.3 Profit margin analysis
3.4 Global crude oil production analysis by country
3.5 Analysis of seaborne trade volume of crude oil
3.6 Technology & innovation landscape
3.7 Key news & initiatives
3.8 Regulatory landscape
3.9 Impact forces
3.9.1 Growth drivers
3.9.1.1 The discovery of new oil reserves and the expansion of existing production sites
3.9.1.2 Increasing energy consumption, especially in emerging economies
3.9.1.3 Investments in pipeline networks and larger vessels
3.9.1.4 Technological advancements in adoption of digital tracking systems and automation technologies
3.9.2 Industry pitfalls & challenges
3.9.2.1 Fluctuating crude oil prices
3.9.2.2 Political conflicts and trade disputes
3.10 Growth potential analysis
3.11 Porter’s analysis
3.12 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
