NEW YORK, Feb. 2, 2017 /PRNewswire/ -- "The emergency spill response market is driven by stringent environmental regulations for preventing spills and the government focus on reducing the environmental pollution"
The emergency spill response market is estimated to reach USD 33.68 billion by 2022, at a CAGR of 7.0% between 2016 and 2022. The market is expected to witness significant growth in the coming years owing to stringent environmental regulations across world to reduce the environmental pollution from spills. The government agencies across the world are focused on reducing environmental pollution from the spills, leading to the growth of the emergency spill response market.
"Market for radio communication products to grow at the highest CAGR during the forecast period"
Radio communication products are expected to witness the highest growth in the market during the forecast period. The growth of this segment can be primarily attributed to the increasing focus on preventing spills as well as reducing environmental pollution by minimizing the spill pollution through early detection.
"Ports & harbors vertical to witness the highest growth rate during the forecast period"
The market for the ports and harbors vertical is expected to grow at the highest CAGR during the forecast period owing to the increasing international sea trade, which may result in large spills during the various vessel operations including loading/discharging, bunkering, anchoring, underway, and other operations.
These spills can impact the environment of the ports and harbors. Furthermore, the increasing government focus on reducing environmental impact of spills on the environment strengthens its market for Ports & harbors vertical.
"The market in the North America region to grow at the highest CAGR during the forecast period"
The market in North America is expected to grow at the highest rate between 2016 and 2022 because of the government focus on reducing the environmental impact of spills. In addition, the presence of a large number oil rigs and subsea oil operations provide opportunities for the growth of the market in this region.
The breakup of primaries conducted during the study is depicted below.
By Company Type: Tier 1 - 45%, Tier 2 - 30%, and Tier 3 - 25%
By Designation: C-Level Executives - 55%, Directors - 25%, and Managers - 20%
By Region: North America - 25%, Europe - 20%, Asia-Pacific - 30%, and RoW - 25%
Major players operating in the emergency spill response market include Veolia Environnement S.A. (France), Polyeco Group (Greece), Elastec, Inc. (U.S.), Markleen A/S (Norway), Clean Harbors, Inc. (U.S.). US Ecology, Inc. (U.S.), Oil Spill Response Ltd (U.K.), Marine Well Containment Company (U.S.), Vikoma International Ltd (U.K.), DESMI A/S (Denmark), and Adler and Allan Limited (U.K.).
This report aims to estimate the market size and future growth potential of the emergency spill response market across different segments such as type, spill material, spill environment, vertical, and geography. On the basis of type, the emergency spill response market is further segmented into products and services.
Spill response products include booms, skimmers, dispersants and dispersant products, sorbents, transfer products, vacuum products, in-situ burning products, and radio communication products. The services include product rental services, waste management services, manpower training services, transportation and disposal services, spill response drill and exercise services, tracking and surveillance services, and risk assessments and analysis services. The report covers the emergency spill response market is segmented on the basis of verticals into transportation, oil and gas, chemical, ports and harbors, government, and industrial facilities.
Key Benefits of Buying the Report:
- This report includes the market statistics pertaining to type, spill material, spill environment, vertical, and geography, along with their respective market size.
- The Porter's five forces framework has been provided along with the value chain analysis to provide an in-depth insight into the emergency spill response market.
- The major drivers, restraints, and opportunities for the emergency spill response market have been detailed in this report.
- Illustrative segmentation, analysis, and forecast for the market on the basis of type, spill material, spill environment, vertical, and geography have been conducted to give an overall view of the emergency spill response market.
- The detailed competitive landscape includes key players, in-depth analysis, and market ranking analysis of the key players.
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