Oil Spill Management Market Size, Segmentation To 2020: Grand View Research, Inc.

Grand View Research, Inc: Global Oil Spill Management Market, Market Size, Application Analysis, Regional Outlook, Competitive Strategies and Forecasts, 2014 To 2020

Global oil spill management market is estimated to witness significant growth over the forecast period on account of escalating oil spill incidents coupled with mounting safety concerns. Increasing oil & gas transportation owing to rising drilling activities is anticipated to fuel the market growth over the forecast period.

Strict government regulations regarding safety and pollution such as Oil Pollution Act, Norway Pollution Control Act and Petroleum Activities Act are estimated to drive oil spill management market in foreseeable future.

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Establishment of regulatory boards such as Bureau of Ocean Energy Management (BOEM), Bureau of Safety and Environmental Enforcement (BSEE) & Canadian Coast Guard agency have enforced oil & gas companies to adhere to safety norms.

This is further anticipated to drive the industry growth over the forecast period.

Leading oil & gas companies have been constantly involved in R&D to enhance efficiency and oil spill cleaning process which is anticipated to create huge opportunities for industry participants over the forecast period.

Class A spills accounted for a lion’s share of the market volume in 2013. Nonpetroleum spills are expected to gain market share over the forecast period owing to rising number of incidents lately.Mechanical oil spill management methodology was the largest segment on the basis of technology in 2013 and is estimated to witness average growth rates in near future. Chemical and biological methods are estimated to witness significant growth over the foreseeable future.

Offshore locations including Gulf of Mexico and Gulf of Alaska in North America, North Sea in Europe and Persian Gulf in the Middle East witnessed a large number of incidents and had major share of global industry in 2013.

Increasing oil spill occurrences in onshore oilfields is anticipated to drive demand in the sector over the next six years.

North America accounted for the leading number of oil spills and dominated the global market in 2013 and is estimated to witness average growth rates over the forecast period.

Leading companies operating in global market comprise American Green Ventures Inc., Oil Spill Response Limited, Osprey Spill Control, Skim Oil Inc., Fender and Spill Response Services and OMI Environmental Solutions.

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About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco.

The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

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