Nov 11, 2022 SOURCE: BusinessWire

Global Energy Logistics Market Report 2022: Rise in Trade Agreements Bolstering Growth - ResearchAndMarkets.com

The "Global Energy Logistics Market Size, Share & Industry Trends Analysis Report by End-User, Mode of Transport, Application, Regional Outlook and Forecast, 2022-2028" report has been added to ResearchAndMarkets.com's offering.

The Global Energy Logistics Market size is expected to reach $877.4 billion by 2028, rising at a market growth of 14.6% CAGR during the forecast period.

Without the energy sector, no industry would exist. It also accounts for the largest number of projects and installations with high financial worth. As emerging nations continue to increase their manufacturing facilities to meet expanding demand, the number of energy projects worldwide is continuously rising. Energy logistics uses labor, infrastructure, and equipment effectively to drive energy product logistics within the energy sector. Energy companies are attempting things like changing the energy mix and boosting the influence of renewable power on the market. Energy corporations offer high-quality, safe solutions that help energy companies boost production and cut expenses.

Presently, growing Internet of things (IoT) adoption in the industry allows freight businesses to gain direct internet access to the company network. The use of technologically sophisticated systems for logistics improvement and increased expenditure by several energy logistics organizations throughout the globe are additional factors that are anticipated to fuel the market's expansion over the forecast period.

Market Growth Factors

The rise in agreements relating to trade

Globalization is primarily driven by the expansion of the economy and the dynamism of the market. A surge in numerous trade-related activities can be attributed to the acceleration of globalization. As a result, it is getting more challenging for retailers or manufacturers to effectively monitor these actions. Energy logistics services are essential for consumers who are price conscious and need a greater selection of high-quality products delivered on time. For major companies, this factor is anticipated to drive the energy logistics market.

The rise in last-mile deliveries and the automation of logistics

The term 'last mile logistics' describes the last stage of the delivery from a facility or distribution center to the end customer. A larger emphasis on last-mile transportation solutions is also being seen in the growing pharmaceuticals, chemical, wind, and food and beverage industries. Another possibility that is anticipated to fuel the expansion of the logistics industry in the near future is the ongoing effort made by energy logistics businesses to provide effective last-mile deliveries. The market for energy logistics is anticipated to benefit greatly from the development of last-mile delivery together with logistics automation.

Market Restraining Factors

Inefficient infrastructure and more expensive logistics

Good supply chains, infrastructure, and trade facilitation are necessary for energy logistics. Without these, businesses must accumulate more working capital and stock reserves, which can have a significant impact on regional and national competitiveness due to high financial expenses. The energy logistics business is further hampered by a lack of infrastructure, which drives up costs and decreases supply chain dependability. These include considerable transportation inefficiencies, shoddy storage facilities, a complicated tax system, a low rate of technology adoption, and inadequate energy logistics professionals. The necessity for huge stocks to cover contingencies as a result of inadequate transportation infrastructure might raise total logistics costs.

Scope of the Study

Market Segments Covered in the Report:

By End-User