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Crude Oil Transportation Market Share

Report ID: GMI12008
Published Date: Oct 2024
Report Format: PDF

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Crude Oil Transportation Market Share

Enbridge, Chevron Corporation, and Saudi Aramco collectively held a substantial market share of over 13% in the crude oil transportation industry in 2023. Enbridge is modernizing and expanding its North American pipeline network to enhance crude oil transportation. The company prioritizes safety and reliability, forming partnerships to reduce environmental impacts. Additionally, Enbridge is exploring technological innovations to optimize flow and reduce operational costs, thereby improving efficiency and safety in crude oil transport.

Chevron is upgrading its pipeline systems to streamline crude oil transportation. The company is leveraging technology-driven solutions and operational excellence to increase efficiency, lower costs, and reduce emissions. Furthermore, Chevron is optimizing its logistics and storage strategies to better manage market volatility and consistently meet global demand.

Saudi Aramco leverages its robust infrastructure and strategic locations to ensure secure and efficient global crude oil transportation. The company is continually expanding its pipeline capacity and refining its supply chain. Committed to sustainability, Aramco is implementing advanced monitoring and automation technologies, minimizing environmental impacts while ensuring reliable, large-scale crude oil distribution to key markets.

Crude Oil Transportation Market Companies

Major players operating in the crude oil transportation industry are:

BP PLC
Chevron
Enbridge
ExxonMobil
Kinder Morgan
Marathon Petroleum
Shell PLC
Saudi Aramco
TotalEnergies SE
Valero Energy

Authors: Preeti Wadhwani, Aishwarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of crude oil transportation reached USD 75.4 billion in 2023 and is set to grow at a 4.7% CAGR from 2024 to 2032, driven by increasing energy consumption in emerging economies.

The international transportation segment held around 55% of the market share in 2023, driven by global oil demand and regional production imbalances.

The North America market accounted for 35% of the revenue share in 2023 and is poised to cross USD 40 billion by 2032, led by the extensive pipeline network in the U.S.

Major players in the industry include BP PLC, Chevron, Enbridge, ExxonMobil, Kinder Morgan, Marathon Petroleum, Shell PLC, Saudi Aramco, TotalEnergies SE, and Valero Energy.