The global oil spill management market is
expected to reach USD 177.63 billion by 2025, according to a new report by
Grand View Research, Inc. Globally increasing onshore and offshore drilling
activities are the major factor driving the market growth. Rising oil spill
incidents from past five years along with strict environmental regulations are
anticipated to remain a key factor for the global market. Moreover, increase in
the marine oil & gas transportation globally is also projected to have a
positive impact on market growth.
Stringent government regulations are formed
particularly in the Europe and North America for installing safety devices
& technologies during drilling and transportation of crude oil. This has
resulted in the growth of market regions. The increase in the pipeline and
tanker transportation of petroleum products is also anticipated to increase the
growth for various oil spill management technologies. In addition, increasing
investment in R&D activities by key market players for rapid and efficient
oil-spill cleaning is anticipated to drive the market growth over the next nine
years.
Skimmers post oil-spill response technique
emerged as the major technology segment in the year 2015. The method involves
the usage of weir skimmers, oleophilic skimmers, and non-oleophilic skimmers to
clean up an oil spill. Strict oil & gas transport regulation along with
rising concern regarding product losses in maritime trade is anticipated to
positively impact market growth.
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http://www.grandviewresearch.com/industry-analysis/oil-spill-management-market
http://www.grandviewresearch.com/industry-analysis/oil-spill-management-market
Further key findings from the report suggest:
· The global pre-oil spill management market
was worth USD 100.66 billion in 2015. The market is expected to grow at an
anticipated CAGR of 3.2% from 2016 to 2025.
· Pipeline leak detection pre-oil spill
technology is expected to be the fastest growing segment and is projected to
grow at a CAGR of 4.1 from 2016 to 2025
· Increasing environmental concern regarding
oil spill impacts for instance water contamination and soil fertility is
anticipated to drive various innovations to develop efficient systems and
technologies that would inform exact location of pipeline leakages
· Chemical recovery accounted for over 19% of
the total response technology market in 2015. The method involves use of
dispersing agents, and gelling agents for efficient clean up.
· North America was the largest oil spill
management market in 2015. It is expected to gain share on account of
increasing E&P activities particularly in the deep sea.
· National Oilwell Varco, Cameron
International Corporation, Fender & Spill Response Services L.L.C., Ecolab
Inc., SkimOil, Inc., Hyundai Heavy Industries Co., Ltd., CURA Emergency
Services and COSCO Shipyard Group Co., Ltd. are the prime companies operating
in the market.
Grand View Research has segmented the
global oil-spill management market on the basis of technology, response
technique, application and region:
Technology Outlook (Revenue, USD Million,
2014 - 2025)
·
Pre-oil spill
·
Post-oil spill
Post-Oil Spill Management Response Technique Outlook
(Revenue, USD Million, 2014 - 2025)
·
Mechanical containment and recovery
·
Chemical recovery
·
Biological recovery
·
Others
Application Outlook (Revenue, USD Million,
2014 - 2025)
·
Pre-oil spill
·
Post-oil spill
Regional Outlook (Revenue, USD Million, 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For More Information: www.grandviewresearch.com
