Loading...

The increasing focus towards energy coupled with growing investments in downstream industry, rising digitalization of refineries, maturing downstream and supportive governments policies are the significant factors driving the global downstream maintenance market.

The oil downstream maintenance market consists of Asset Performance Management, Information Risk Management, and Integrated Oil Terminal Automation. It also includes inspection, measurement, and related services to the downstream oil and gas industry supporting customer needs in refineries, terminals, ships, barges, pipelines, gas processing plants, chemical plants, retail distribution networks, and more.

The outbreak of geopolitics slashed demand of refined products and transportation fuels fell by up to half, and storage tanks filled. Refineries were forced to cut their rates and stopped production due to travel interruptions.

However, demand has recovered significantly and global downstream industry is experiencing significant investment and capacity expansions. The market is dealing with instability in oil prices, mega disruptions in technology, growing trade tensions, workforce shortages, oversupplied markets and a slowing global economy.

North America accounted for the largest proportion of downstream maintenance expenditure, and will marginally increase its market share over the forecasted period.

The global downstream maintenance market is projected to witness slowdown due to increasing adoption of electric vehicles, which will ultimately have profound impact on oil and gas, retail fuel, and lubricants demand.

Blackridge's Report provides insights into the current global and regional market demand scenario and its outlook. The study offers a detailed analysis of various factors instrumental in affecting the global downstream maintenance market growth.

The Report will also provide a perspective on various market opportunities and threats and a detailed analysis of the global downstream maintenance market's competitive landscape.