CRUDE TRANSPORTATION MARKET ANALYSIS

Regional Analysis

Crude Transportation Market Regional Insights

• North America: North America is the largest market for crude transportation, accounting for a market share of over 35.4% in 2023. The U.S. and Canada have a highly developed infrastructure for crude oil transportation. In the U.S., a vast network of pipelines covers the country, especially connecting major oil-producing regions such as Texas and North Dakota with refineries on the Gulf Coast. Similarly, Canada has an extensive pipeline network to transport its oil sands production.
• Europe: Europe is the second-largest market for crude transportation, accounting for a market share of over 28.6% in 2023. The crude oil transportation infrastructure in Europe is a mix of pipelines, such as those from Russia, and maritime routes. Some countries also use rail and road transport. Europe's energy infrastructure is subject to extensive regulation to ensure environmental and safety standards.
• Asia Pacific: Asia Pacific is the fastest-growing market for Crude Transportation, accounting for a share of over 18.3% in 2023. Asia, especially China and India, are significant consumers of crude oil. While they have their own domestic production and transportation infrastructure, they also rely heavily on maritime shipping routes for imports. The Strait of Malacca, for instance, is a critical chokepoint for crude oil shipments to Asia.

Figure 1. Crude Transportation Market Share (%), By Region, 2023

• North America: U.S. and Canada
• Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
• Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
• Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
• Middle East & Africa:  GCC Countries, Israel, South Africa, North Africa, Central Africa and Rest of Middle East