ALBANY, New York, October 13, 2015 /PRNewswire/ --
As per a new report published by Transparency Market Research, the global oil spill management market was valued at US$94,218.1 million in 2013 and is forecast to be valued at US$114,441.1 million by 2020. The global oil spill management market is expected to grow at a CAGR of 2.8% during the 2014-2020 forecast period. The report, titled 'Oil Spill Management Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 - 2020', focuses on market segmentation and factors that are responsible for driving the market. The report estimates the total cost incurred to manage oil spills during the period from 2000 to 2013. As per the study conducted by the TMR analysts, around US$12,886.5 million was spent on managing oil spills during the mentioned period.
Browse the full Oil Spill Management Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 - 2020 report at http://www.transparencymarketresearch.com/oil-spill-management.html
The report is analyzed in terms of pre-oil spill management applications and post-oil spill management technologies. Pipeline leak detection devices, blowout preventers, and double hulling of ships are some of the major technologies used in pre-oil spill management. Further, pre-oil spill management technologies are segmented as per the region, type, and technology in the report. Growth in drilling activities in ultra-deepwater regions and deepwater regions has fuelled the demand for blowout preventers. Many local and international rig contractors purchase extra blowout preventers to protect or recover the loss caused at the time of maintenance of primary blowout preventers.
As per the report, the use of pipeline leak detection applications has increased over the past few years. Many key players in the global oil spill management market are now investing in pipeline leak detection applications to lower the possibility of oil spills during transportation of hydrocarbons through ships and pipelines. Double hulling of the oil tankers is another effective method implemented by many key players to reduce the chances of oil spills. Double hulling of the oil tankers has a beneficial effect especially during groundings and low-speed collisions.
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Some of the popular post-oil spill management technologies are physical methods, biological agents, application of chemicals, and mechanical containments. The post-oil spill management technologies are also further classified as per technology, region, and type. The Porter's five forces model is used for manufacturers of double hulled tankers and blowout preventer to study the profitability and industry structure of the global oil spill management market. The global oil spill management market is also segmented into offshore and onshore spill management.
The report also includes analysis of the oil spill management market's status in various regional segments of the global market. Countries from Asia Pacific, Europe, North America, and Rest of the World are witnessing growth of the market thanks to technological advancements. Market drivers, market opportunities, and market restraints are studied in the report as a part of the dynamic analysis.
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Some of the key players, which have contributed towards the growth of the global oil spill management market, are Cameron International Corporation, Control Flow Inc., National Oilwell Varco, Northern Tanker Company OY, Hyundai Heavy Industries Co. Ltd., CURA Emergency Services, Fender and Spill Response Services L.L.C., and GE Oil & Gas.
Browse Related Research Report:
- Blowout Preventer (BOP) Market: http://www.transparencymarketresearch.com/blowout-preventer-market.html
Key segments of Oil Spill Management Market
Global Oil Spill Management Market: Technology Analysis
- Blowout preventers
- Double hulling
- Pipeline leak detection
- Mechanical methods
- Chemical and biological
Global Oil Spill Management Market: Type Analysis
Global Oil Spill Management Market: Regional Analysis
- North America
- Asia Pacific
- Rest of the World (RoW)
Browse Other Research Categories:
- Browse All Other Chemical & Materials Market Research Reports: http://www.transparencymarketresearch.com/chemical-market-reports-2.html
- Browse All Energy & Mining Market Research Reports: http://www.transparencymarketresearch.com/energy-market-reports-3.html
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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SOURCE Transparency Market Research