A recent report ongoing study by Infinium Global Research on the hazardous goods logistics market provides an in-depth analysis of segments and sub-segments in the GCC as well as regional hazardous goods logistics market. The study also highlights the impact of drivers, restraints, and macro indicators on the GCC and regional hazardous goods logistics market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the GCC hazardous goods logistics market. The GCC hazardous goods logistics market was valued at about USD 5 billion in 2022 and is expected to reach up to more than USD 7 billion by 2028, with a CAGR of nearly 6% over the forecast period 2022-2028.
Hazardous goods are defined as materials with hazardous properties that if not properly controlled, may present a potential hazard to human and animal health and safety, the environment, and infrastructure. Hazardous goods are the substances such as oils, gas, chemical products, and radioactive substances. The logistics or transport of hazardous goods is nothing but the movement or transit of these highly risky substances from one place to another. The transport solution includes the implementation of adequate measures to ensure the transit is total security and doesn’t cause any damage to humans, animals, and the environment. There are different ways of transportation such as by land, sea, waterways, rail, or even by air. The regulations related to the transport of hazardous goods do not allow transit via pipelines, such as oil or gas pipelines.
The hazardous goods logistic market is primarily driven by the rising production of oil and gas in the GCC region. The leading oil producers amongst the Middle Eastern countries are the Gulf Cooperation Council (GCC) members. The GCC states of Saudi Arabia, the United Arab Emirates, Kuwait, and Qatar are referred to as rentier states. Rentier states mean the states generate most of their revenue from fossil fuels, and not from taxation. The rising production in the oil and gas industry generates the need for logistics or transportation of that material, which helps to propel the growth of the market in the region. Additionally, stringent rules and regulations for hazardous goods transportation & storage also drive the growth of the market. However, the high cost of transportation is expected to hamper the market’s growth. Moreover, new market players entering the hazardous goods logistics market and shifting toward nuclear energy require a vehicle, which acts as an opportunity for market growth.
The hazardous goods logistic market is segmented into Saudi Arabia, UAE, Qatar, Kuwait, Sudan, and the rest of the GCC. Saudi Arabia is expected to grow at a substantial rate due to the country being ranked as the largest oil producer in the world. Saudi Arabia may maintain its position as a top-three oil producer for the foreseeable future which directly propels the growth of the market in the country. The oil and gas industries totally depend on logistics departments for the transportation of their product by road, water, or air. Oil and gas is the hazardous compound and continuous demand for the product is providing growth opportunities for the hazardous goods logistic market during the forecast period. Moreover, Abu Dhabi is home to most of the proven oil reserves in the UAE territory. Some of the biggest international companies involved in UAE oil production include BP, Royal Dutch Shell, Total S.A., and ExxonMobil, this company core customer for the market and provide growth to the market.
Report Coverage | Details |
---|---|
Market Size in 2021 | About USD 5 Billion |
Market Size by 2028 | More than USD 7 Billion |
Growth Rate from 2022 to 2028 | CAGR of Nearly 6% |
Largest Market | Saudi Arabia |
No. of Pages | 80 |
Market Drivers |
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Market Segmentation | By Services, and By Destinations |
Regional Scope | Saudi Arabia, UAE, Kuwait, and Rest of GCC |
The report on GCC hazardous goods logistics market covers segments such as services, and destinations. On the basis of services, the sub-markets include transportation, warehousing and distribution, and value added services. On the basis of destinations, the sub-markets include domestic, and international.
The report provides profiles of the companies in the market such as Agility, BDP International, Bertschi AG, DSV, PETROCHEM, Al Futtaim - Logistics, Emirates Logistics L.L.C, Al Ghazal Transport UAE, A.P. Moller - Maersk, and Aramex.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the hazardous goods logistics market. Moreover, the study highlights current market trends and provides forecasts from 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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