In 2021, the North American market for dangerous goods logistics achieved a valuation of USD 194.35 billion, and projections indicate a substantial growth, reaching USD 319.99 billion by the end of 2030. The United States stands as the primary contributor to this regional market. The growth in the North American market is primarily fueled by rapid industrialization, escalating energy demands, increased cross-border trade, and the expanding influence of globalization.
A significant factor influencing this growth is the robust presence of the oil & gas and healthcare sectors in the region, leading to substantial import and export activities involving crude oil, petroleum products, biological devices, and hazardous medical equipment. For instance, in 2021, the United States alone exported approximately 8.63 million barrels per day of petroleum to 176 countries and 4 U.S. territories. Notably, crude oil exports accounted for approximately 35% of the total U.S. gross petroleum exports, totaling around 2.98 million barrels per day.
Moreover, the North American region operates within a highly regulated framework for dangerous goods logistics, overseen by the U.S. Department of Transportation (DOT). The DOT enforces the Hazardous Material Regulations, a comprehensive set of guidelines that rigorously monitor and ensure the safe transportation of dangerous goods within the country. This regulatory framework plays a crucial role in safeguarding the handling and transportation of hazardous materials, contributing to the overall safety and security of the logistics operations.
The industrial landscape and economic dynamics in North America, particularly driven by the United States, create an environment conducive to the growth of dangerous goods logistics. The region's emphasis on regulatory compliance, coupled with the substantial activities in key sectors such as oil & gas and healthcare, positions North America as a significant player in the global dangerous goods logistics market.
In conclusion, the North American market for dangerous goods logistics is witnessing significant growth, propelled by factors such as rapid industrialization, increasing energy demands, cross-border trade, and the notable presence of critical sectors like oil & gas and healthcare. The regulatory oversight provided by the U.S. Department of Transportation further ensures the safe and secure transportation of dangerous goods within the region. As the market continues to evolve, North America's strategic position and adherence to regulatory standards position it as a key player in the global landscape of dangerous goods logistics.
