The
global oil spill management market stood at US$94.2 bn in 2013 and is
predicted to reach US$114.4 bn by 2020. It is expected to expand at a
CAGR of 2.80% from 2014 to 2020.
According
to the report, increasing safety concerns, coupled with the rising
number of incidents of oil spills in the past few years, are
predicted to boost the market for oil spill management. Furthermore,
rising pipeline and seaborne transportation of chemicals and crude
oil all around the world is amongst the prime factors fuelling the
oil spill management market.
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In
addition, strict regulations made by governments around the world for
using safety technologies and devices during transportation and
drilling of crude oil is also a major factor stimulating the market
for oil spill management. The rising offshore and pipeline tanker
transportation of oil and gas is also predicted to have a positive
impact on the demand for oil spill management. Additionally, the
rising research and development spending by top oil spill management
companies for rapid and efficient spill cleaning is predicted to lead
to promising opportunities for the growth of the market in the coming
years.
The
report segments the global oil spill management market in terms of
product type, technology, and geography.On the basis of type, the
market is segmented into onshore spill management and offshore spill
management. On the basis of technology, the oil spill management
market is segmented into pre-oil spill and post-oil spill. Pre-oil
spill management includes double hulling, blowout preventers, and
pipeline leak detection. On the other hand, the post-oil spill
management segment includes mechanical, physical, and chemical and
biological methods intended to minimize the effects of the oil spill.
Pre-oil spill management comprises technologies for preventing oil
spills, whereas the post-oil spill management includes various
methods utilized to clean, manage, and contain an oil spillage.
Rising
drilling activities, along with strict regulations posed by
governments on oil spillage, are amongst the prime factors
stimulating the demand for blowout preventers. On the other hand,
strict International Maritime Organization (IMO) regulations have
made double-hulled ships mandatory in oil transportation. This has
also increased the market share of double-hulled ships on a global
level.
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On
the basis of geography, the global oil spill management market is
segmented into Europe, North America, Asia Pacific, and Rest of the
World (RoW). Amongst these, North America constituted the biggest
share in the market from 2000 to 2013. On the other hand, Asia
Pacific is anticipated to dominate the market for pre-oil spill
management in the forecast horizon. The presence of big shipping
industries has raised the orders for double-hulled ships in China,
Japan, and South Korea.
The
major players dominant in the market include National Oilwell Varco,
Cameron International Corporation, Control Flow Inc., Northern Tanker
Company Oy, Fender & Spill Response Services L.L.C., SkimOil,
Inc., GE Oil & Gas, Hyundai Heavy Industries Co., Ltd., COSCO
Shipyard CURA Emergency Services, Ecolab Inc., and Group Co., Ltd.,
among others.
Key
Segments of the Oil Spill Management Market
Global
Oil Spill Management Market: Technology Analysis
- Pre-Oil Spill
- Blowout preventers
- Double hulling
- Pipeline leak detection
- Post-Oil Spill
- Mechanical methods
- Chemical and biological
- Physical
Global
Oil Spill Management Market: Type Analysis
- Onshore
- Offshore
Global
Oil Spill Management Market: Regional Analysis
- North America
- Europe
- Asia Pacific
- Rest of the World (RoW)
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