Oil Spill Management - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Oil Spill Management Market is accounted for $115.11 billion in 2019 and is expected to reach $172.67 billion by 2027 growing at a CAGR of 5.2% during the forecast period. The rising oil & gas transportation coupled with stringent policies of government about safety and increasing pipeline and tanker transportation of petroleum products are some of the factors propelling the growth of the market. However, the slowdown of offshore exploration activities because of reducing oil costs is hampering the growth of the market.
The use of technologies to manage, prevent, and clean oil spillage and minimize its effect on its surroundings is termed as oil spill management. This can be done in several ways, including the controlled burning of spilt oil, which is similar to controlled forest burning to get rid of dry wood that may pose a hazard if left in place.
Based on the application, the offshore segment is anticipated to hold considerable market share during the forecast period due to the upcoming projects predominantly in the South China Sea & Persian Gulf region, renewal of abandoned wells, and rising deepwater explorations along with increasing energy demand. By geography, Asia Pacific is going to have a lucrative growth during the forecast period owing to the prominent presence of big shipping companies and the rapidly rising number of domestic shipbuilding and repairing activities in developing countries.
Some of the key players profiled in the Oil Spill Management Market include SWS Environmental Services, OMI Environmental Solutions, NRC International Holdings, Expandi Systems, CURA Emergency Services, American Green Ventures (US), Inc., Sorbcontrol S.L., NOFI Tromso AS, Lamor Corporation Ab, Ecolab, Inc., ACME Environmental, Inc., Oil Spill Response Limited, Fender & Spill Response Services L.L.C., SkimOIL, Inc., Oil Pollution Environmental Control Ltd., National Oilwell Varco, Inc., Cameron International Corporation, Osprey Spill Control, L.L.C., Elastec, and NorLense AS.
• Pre-Oil Spill Management
• Post-Oil Spill Management
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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