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The oil and gas downstream market size is forecast to increase by USD 179.09 billion, at a CAGR of 2.93% between 2023 and 2028. The market is experiencing significant growth due to the rising global energy demand, particularly in the transportation sector where diesel and gasoline are the primary fuels. The adoption of digitalization and automation in exploration and production processes, refining technologies such as distillation towers and reactors, and the increasing use of LPG as a cleaner alternative fuel are key market trends. However, the uncertainties associated with low crude oil prices pose a challenge to market growth. The integration of advanced technologies like IoT, AI, and machine learning in refineries and storage facilities is expected to improve operational efficiency and productivity. The market is also witnessing the increasing adoption of renewable energy sources, which may impact the demand for traditional oil and gas products in the future.
The market is characterized by the presence of large storage tanks and pumps to facilitate the distribution and transportation of these fuels.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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