Oil Spill Management Market Size, Share & Trends Analysis Report By Technology, By Location (Onshore, Offshore), By Technique (Post-oil Spill), By Region, And Segment Forecasts, 2023 - 2030
Oil Spill Management Market Growth & Trends
The global oil spill management market size is expected to reach USD 165.2 billion by 2030, expanding at a CAGR of 3.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. Globally increasing onshore and offshore drilling activities are the major factor driving the market growth. Rising oil spill incidents from past five years along with strict environmental regulations are anticipated to remain a key factor for the global market. Moreover, increase in the marine oil & gas transportation globally is also projected to have a positive impact on market growth.
Stringent government regulations are formed particularly in the Europe and North America for installing safety devices & technologies during drilling and transportation of crude oil. This has resulted in the growth of market regions. The increase in the pipeline and tanker transportation of petroleum products is also anticipated to increase the growth for various oil spill management technologies. In addition, increasing investment in R&D activities by key market players for rapid and efficient oil-spill cleaning is anticipated to drive the market growth over the next nine years.
Skimmers post oil-spill response technique emerged as the major technology segment in the year 2015. The method involves the usage of weir skimmers, oleophilic skimmers, and non-oleophilic skimmers to clean up an oil spill. Strict oil & gas transport regulation along with rising concern regarding product losses in maritime trade is anticipated to positively impact market growth.
Oil Spill Management Market Report Highlights
Double-hulling technology is the major pre-oil spill management Technology for the past few years and accounted for over 69% of the market in 2022.
Offshore was the largest application for pre-oil spill management in the year 2022, accounting for over 71% of the overall total market.
The Chemical oil-spill response Technology accounted for around 19% of the market in 2022. The Technology involves the usage of gelling and dispersant agents, which enhance the breakdown of oil components naturally.
North America was the largest pre-oil spill management market in 2022. The region is anticipated to gain market share on the account of rising oil & gas E&P activities.
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Chapter 1 Methodology & Scope
1.1 Market Segmentation & Scope
1.1.1 Market Definitions
1.1.2 Research Methodology and Assumptions
1.1.2.1 Bottom-Up Approach
1.1.2.2 Top-Down Approach
1.1.2.3 Cross-Validation
1.1.2.4 Market Forecasts
1.2 Information Procurement
1.2.1 Purchased Database
1.2.2 GVR’s Internal Database
1.2.3 Secondary Sources
1.2.4 Third Party Perspective
1.2.5 Primary Research
1.3 Information Analysis
1.3.1 Data Analysis Models
1.4 Market Formulation and Data Visualization
1.5 Data Validation and Publishing
Chapter 2 Executive Summary
2.1 Market Snapshot
2.2 Segment Snapshot
2.3 Competitive Landscape Snapshot
Chapter 3 Oil Spill Management Market Variables and Trends
3.1 Penetration & Growth Prospect Mapping
3.2 Industry Value Chain Analysis
3.3 Technology Overview
3.4 Regulatory Framework
3.5 Market Dynamics
3.5.1 Market Driver Impact Analysis
3.5.1.1 Increasing deepwater drilling activities
3.5.1.2 Favorable revised offshore regulations
3.5.1.3 Growing seaborne crude oil trade
3.5.1.4 Environmental & ecological impact of oil spill
3.5.2 Market Restraint Impact Analysis
3.5.2.1 Lack of R&D investments
3.5.3 Industry Challenges
3.5.4 Industry Opportunities
3.6 Business Environment Analysis: Oil Spill Management Market