Oil and Gas Logistics Consulting Services: Introduction
- Oil and gas logistics refers to the transportation of petroleum products, extracted crude oil & gas, and drilling equipment from one place to another. Oil and gas logistics covers entire phases from upstream to downstream.
- Oil and gas logistics companies require consulting services in order to optimize supply chain operation processes. These consulting services are known as oil and gas logistics consulting services. Demand for consulting services has been rising over the last few years due to increase in globalization, rise in digitization of business & operating models, and growth in the need to manage risk and enhance sustainability. Key drivers of the global oil and gas logistics consulting services market are cost-cutting and downsizing that have led to improvements in diverse business processes.
Key Drivers and Restraints of Oil and Gas Logistics Consulting Services Market
- Increase in demand for transportation of petroleum products from one place to another in order to cater to the rising demand for refined products is a major factor driving the global oil and gas logistics consulting services market. Oil & gas consulting services help logistics companies minimize the risk involved in transportation services and reduce the cost of transportation.
- Increase in demand for consulting services to lower the cost of logistics by improving the supply chains and logistics operations (such as procurement, product processing and kitting, warehousing, and shipping) of logistics companies is anticipated to augment the global oil and gas logistics consulting services market during the forecast period. Consulting companies analyze information to identify and resolve logistics problems and provide advice to improve productivity and material transportation processes using planning; design of distribution networks; and technology and specialized software.
- Rise in investment in designing of transportation infrastructure such as pipeline infrastructure is also likely to propel the global oil and gas logistics consulting services market
COVID-19 Impact Analysis on Oil & Gas Logistics
Rapid transmission of coronavirus is significantly impacting the global oil and gas logistics market due to decline in demand for petroleum products in several end-use industries along with the halt in operation of crude oil production line. Decrease in demand for oil and gas logistics is expected to hamper the demand for oil & gas logistics consulting services in the near future.
Downstream Segment to Hold Major Share of Global Market
- The global oil and gas logistics consulting services market can be segmented based on services and sector
- In terms of services, the global oil and gas logistics consulting services market can be divided into material handling, infrastructure design, freight transportation, and others
- In terms of sector, the global oil and gas logistics consulting services market can be classified into upstream, midstream, and downstream. The downstream segment is anticipated to witness considerable growth due to increase in demand for transportation of refined petroleum products.
North America Oil and Gas Logistics Consulting Services Market to Expand Rapidly
- In terms of region, the global oil and gas logistics consulting services market can be segregated into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
- The oil and gas logistics consulting services market in North America is expected to expand at a significant pace during the forecast period. Growth of the market in the region can be ascribed to rise in demand for drilling equipment along with ongoing investments in exploration & production of shale gas.
- The oil and gas logistics consulting services market in Europe is projected to expand during the forecast period due to increase in the use of blockchain technology in oil and gas transportation. Furthermore, increase in need to import petroleum products is propelling the oil and gas logistics consulting services in the region.
- This market in Asia Pacific is anticipated to expand at the maximum CAGR during the forecast period due to increase in export of natural gas
- The oil and gas logistics consulting services market in Latin America and Middle East & Africa is likely to expand at a sluggish pace during the forecast period due to ongoing capital expenditure in drilling activities primarily in GCC countries
Key Players Operating in Global Market
Leading companies operating in the global oil and gas logistics consulting services market include:
- BAKER & O'BRIEN, INC.
- PLG Consulting
- MAINE POINTE
- noatum logistics
- Scan Global Logistics
- MWPVL International, Inc.
- Bain & Company, Inc.
Global Oil and Gas Logistics Consulting Services Market: Research Scope
Global Oil and Gas Logistics Consulting Services Market, by Services
- Material Handling
- Freight Transportation
- Infrastructure Designing
Global Oil and Gas Logistics Consulting Services Market, by Sector