Oil Spill Management Market Gains Increased Attention from Governments Across the Globe – Reports and Data

Oil Spill Management Market Gains Increased Attention from Governments Across the Globe - Reports and Data
Reports And Data
Increasing focus on reducing environmental impact and need for more efficient solutions and materials to aid in oil spill clean-up up are some key factors driving market growth

Spilled oil endangers human health, contaminates drinking water, devastates natural resources, and causes economic disruption. Oils are frequently kept and transported in enormous amounts since we utilise so much of them. Oils and other oil-based products are periodically spilled onto land or into rivers during storage or transportation, as well as as a result of exploratory efforts. Human health and environmental quality are jeopardised when this happens. Oil spills must be avoided at all costs and cleaned up as soon as possible once they occur.

The global oil spill management market is expected to benefit from increased oil and gas transportation via tankers and pipelines, as well as strict regulatory safety rules. Major industry players are heavily spending in research and development. Over the projected period, this is expected to create significant opportunities and lead to industry expansion.

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Oil spill prevention and control measures strive to reduce and contain oil spills while also limiting their spread in the environment. This can be accomplished in a variety of methods, including controlled oil spill burning, which is comparable to controlled forest burning to remove dry wood that could represent a hazard if left in place.

Key market players include:

Cameron International Corporation, Ecolab Inc., Hyundai Heavy Industries Co., Ltd., National Oilwell Varco, Fender & Spill Response Services L.L.C., SkimOil, Inc., COSCO Shipyard Group Co., Ltd., Control Flow Inc., Northern Tanker Company Oy, and GE Oil & Gas.

Some key findings in the report

  • Post-oil spill management includes use of chemical, mechanical, and biological technologies. The mechanical post-oil spill management technology segment accounted for largest revenue share in 2020. This segment includes sorbent and skimmers, which are generally used for oil spill cleanups.
  • Skimmers are deployed on boats to remove contaminants from water surfaces. These are designed to suck up spilled oil from the water like a vacuum cleaner. Skimmers are also used to physically separate oil from water so the recovered fluid can be processed for further use.
  • The offshore sub-segment dominated other sub-segments in terms of revenue share in the pre-oil spill application segment in 2020. Growing need to monitor leaks in pipelines in remote locations or underwater locations has been fueling revenue growth of the offshore sub-segment.
  • North America accounted for largest revenue share in 2020, due to extensive oil- and gas-related activities in countries in the region. Furthermore, past incidences of oil spills and their adverse effects on the ecosystem have resulted in deployment of more stringent regulations that players in the market need to comply with.

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For the purpose of this report, Reports and Data has segmented the global oil spill management market on the basis of technology, response technique, application, and region:

Technology Outlook (Revenue, USD Billion; 2018-2028)

  • Pre-oil spill
    • Pipeline Leak Detection
    • Double-hull
    • Blow-out Preventers
    • Others
  • Post-oil spill
    • Chemical
    • Mechanical
    • Biological
    • Others

Response Technique Outlook (Revenue, USD Billion; 2018-2028)

  • Mechanical Containment and Recovery
    • Containment Booms
      • Sorbent Booms
      • Hard Booms
      • Fire Booms
      • Others
    • Skimmers
      • Oleophilic Skimmers
      • Weir Skimmers
      • Non-oleophilic Skimmers
      • Others
    • Sorbent
    • Others
  • Chemical recovery
    • Gelling Agents
    • Dispersing Agents
    • Others
  • Biological Recovery
  • Others

Application Outlook (Revenue, USD Billion; 2018-2028)

  • Pre-oil Spill
    • Onshore
    • Offshore
  • Post-oil Spill
    • Onshore
    • Offshore

Regional Outlook (Revenue, USD Billion; 2018-2028)

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • Latin America

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